Author Topic: How Much is Your Medallion Worth  (Read 563 times)

nyctaxinews

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How Much is Your Medallion Worth
« on: May 10, 2018, 09:11:33 PM »

http://www.nydailynews.com/new-york/city-suspends-sale-taxi-medallions-plummets-article-1.3982966

If you believe the article above and the TLC iit's worth 0

The way I see it, I would put the value at $750,000

It's too bad there is no financing! If there were the value I just posted would easily be met.

What do you think?

meter peter

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Re: How Much is Your Medallion Worth
« Reply #1 on: May 11, 2018, 03:06:13 AM »
Unfortunately for me the value is zero. As I see it this business is over and out. I am not buying a WC cab.

nyctaxinews

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Re: How Much is Your Medallion Worth
« Reply #2 on: May 11, 2018, 05:36:29 AM »
Peter, If your medallion is worth 0 I'll be more that thrilled to give you $1,000 for it. Deal?

nyctaxinews

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Re: How Much is Your Medallion Worth
« Reply #3 on: May 12, 2018, 02:53:20 PM »
Peter, You haven't responded.. So I'll up my bid to $10,000....How about it?

YELLO

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Re: How Much is Your Medallion Worth
« Reply #4 on: May 12, 2018, 05:07:04 PM »
Peter, I'll give you $15,000.00 for your medallion.

meter peter

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Re: How Much is Your Medallion Worth
« Reply #5 on: May 12, 2018, 07:03:23 PM »
You are right the meallion is a great investment now. All those forclosures are fake news. Thanks for setting me straight.

nyctaxinews

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Re: How Much is Your Medallion Worth
« Reply #6 on: May 12, 2018, 08:29:15 PM »
The foreclosures are real. The price that was paid by the people who were foreclosed on should never have been. Even so, others who paid one million or more are still making the payments. They just had to agree to more collateral. Money on the streets is still there despite all the obstacles.

I say $750,000 is what the medallions should and could be. The only thing in the way is the lack of people to finance. I believe when the smoke settles and the path is cleared this is what the price will be.

Any one care to comment on this?
« Last Edit: May 12, 2018, 09:10:20 PM by nyctaxinews »

majxl

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Re: How Much is Your Medallion Worth
« Reply #7 on: May 12, 2018, 09:41:07 PM »
Financial institutions in NYC do need proofs that the City will strongly respect, enforce and defend commitments made to the Yellow Cabs. For over 80 years those commitments have earned the admiration and envy from every country in the world for a honest, safe and dependable taxi business. Today, in 2018, New York City has again the opportunity to stay the world leader in this industry.

meter peter

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Re: How Much is Your Medallion Worth
« Reply #8 on: May 13, 2018, 12:17:47 AM »
I think the $2.50 +50c ($3.00) surcharge might send the medallion over the $800,000 mark. Can't wait to work 20 trips a day and owe $60 per shift. Anyone who paid a million has payments well over what a fleet would charge to lease. Understand I am an owner driver. I paid low long ago now I have to walk away or get an accessible. I'm not jumping or crying. Disappointed yes but I am in decent shape and don't like being taken advantage of.

nyctaxinews

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Re: How Much is Your Medallion Worth
« Reply #9 on: May 13, 2018, 05:21:36 AM »
Peter,

I too paid little long ago. I don't like being taken advantage of either. But the value is based on profit that can be made. If you can still take home a reasonable profit then there is value. If not, then there is no value.  We should fight the surcharges, it's completely unfair. We should have this money for our  self's.
But we shouldn't quit if we can still make money.

meter peter

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Re: How Much is Your Medallion Worth
« Reply #10 on: May 13, 2018, 03:21:26 PM »
Buying an accessible,maintanence,insurance etc kills the small profit. Working till you die or walking away isnt making a profit. Yes Im still paying my bills but what happens when I have to buy an accessible? Thats when I have to go with nothing to show. I have to I guess do a bankruptcy and sell my condo which is protected. Almost all of us owe something. My regret is not borrowing more when I could. I firmly believe this business is being killed on purpose. NYC has fools guiding its destiny and others and myself will suffer. Im glad Schneiderman is getting whats coming his way. I still remember when Joshi said no cross dispatch and Schneiderman put a stop to her. Why did he get involved? I am not trying to be negative,just calling it the way I see it. You can do whatever you want to a cab driver. It aint fair.

meter peter

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Re: How Much is Your Medallion Worth
« Reply #11 on: May 13, 2018, 03:33:04 PM »
I'll look you up Abe when I get to Florida. Downloading your latest show now. Best line ever was JFK Mikes hold a chicken.

taxitalk

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Re: How Much is Your Medallion Worth
« Reply #12 on: May 14, 2018, 03:00:31 PM »
...We HAVE TO get a fair increase NOW !!
-  BEFORE some crooks at the MTA STEAL our MONEY... AGAIN !! !!

THAT is where it's at ... RIGHT NOW !!

Pint being - when do we get a fare increase AFTER the MTA rips us off
for OU $2.50 per ride increase in New Year's EVE !!

And - how do they know Cuomo will even get elected ?!?

And FOR GOD'S SAKES.... STOP WORRYING
about what SUE-ber is charging !!!
Do you think the owner of the Empire State Building (built same year as us !!!0
even give HALF a f--k about prices on the Grand Concourse ?!?

Discuss.. Off to JFK !!! WHOO HOO !!!

majxl

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Re: How Much is Your Medallion Worth
« Reply #13 on: May 15, 2018, 06:05:33 PM »
New York City Yellow cabs are known worldwide for their safe and honest performance, thanks to the rules and enforcement by City Officials and the TLC office. It would be a tragic mistake to relax the laws and let even a few drivers or business from any segment of the taxi industry to get off the hock and get special treatments. It does hurt to pay very high fine, but if anybody can't or don't want to follow the rules... there are other occupations.
Bad behaviors and dishonest activities are always known and spread very fast, hurting every taxi drivers and the reputation of the City of New York.