Taxi license/plates

[amaru96]

Hi guys, I'm considering purchasing a taxi license/plates in Sydney. I have thought about it for a while but don't know much about it. I read a post on here (http://www.somersoft.com/forums/showthread.php?t=7008) which provided some good information, however that was back in 2003 and no doubt things have changed since then.

My questions are:
How difficult/easy is it to purchase a taxi license?
Where do you purchase them from? Is there a "place" or do license owners just advertise in the paper?
What is the average selling price?
What sort of monthly income should I expect?
How difficult/easy is it to lease them out?

Any additional information would also be very helpful.

Thanks.

 

[devo76]

My mate has a few cars. He is a mechanic and he said the fact that he carries out the maintenance himself makes a big difference to the bottom line. He has bought plates of people who could not keep up with the maintenance. Not just price but on the spot repairs at 4 in the morning too. Food for thought.

 

[amaru96]

Hi devo76, thanks for the reply but I'm only looking at buying the plates, not the actual taxi (car). So as far as I understand there is no maintenance, etc. on my side.

The maintenance comes into play if you want to own the vehicle.

 

[TasInvestor]

"The maintenance comes into play if you want to own the vehicle."

Yes thats true, but with less headaches = lower return.

Yields are around 7.5% (hopefully now higher with the eco. crises).

Link: http://www.somersoft.com/forums/showthread.php?t=7008

 

[Qlds007]

Maximum finance these days is around 60-65% LVR on a Taxi License.

 

[Player]

Supply and demand

What will happen to your investment when the state government (always) in it's infinite wisdom releases more plates and dilutes the value of the stock and, possible shorter to medium term, returns?

 

[moneyfinder]

^nice quote! (sorry for off topic)

 

[boods99]

"The maintenance comes into play if you want to own the vehicle."

Yes thats true, but with less headaches = lower return.

Yields are around 7.5% (hopefully now higher with the eco. crises).

Link: http://www.somersoft.com/forums/showthread.php?t=7008

I would have thought that due to the economic crisis, taxis might be doing it tough? Less money, less people wanting to get home after a huge nite out!
Maybe i'm looking at it in too much of a simplistc way.

Boods