The Real Economics of an NYC Taxi Medallion in 2025 — A Rare Owner-Driver Conversation, Harvir Singh

AutoMarketplace founder Dawood Mian sits down with Harvir Singh, an NYC TLC–licensed yellow cab driver who operates a family-owned taxi medallion, to explain what medallion ownership actually looks like in New York City today. Driving the cab alongside his father, Harvir breaks down the real financial, operational, and regulatory challenges of owning and operating a medallion. #nyctaxi #taximedallion #yellowcab Email [email protected] to connect with Harvir! LINKS Airport Taxi Driver Information Dashboard (Port Authority): https://www.panynj.gov/airports/en/op... AutoMarketplace article: https://automarketplace.substack.com/... TABLE OF CONTENTS 00:00 – Intro: A Real NYC Taxi Owner-Driver Conversation 01:06 – Why Full-Day Shifts Beat Day/Night Splits 03:04 – Starting in the NYC Taxi Business in 2017; Buying a Taxi Medallion in 2019 04:27 – What Did You Buy the Medallion for in 2019 ($220k)? Financed? Loan Terms (Rate, Amortization, Balloon)? 06:15 – NYC Taxi Medallion Investment Thesis 07:18 – Leasing vs. Owning 08:46 – How Much Were You Making in 2017? Uber/Lyft’s Impact on Taxi Earnings 10:35 – What Happened During the Pandemic? Monthly Medallion Loan Payments 13:21 – What Vehicle Is the Medallion Attached To? Selected vs. Non-Selected? WAV-Only? 14:04 – 2024 Medallion Loan Balloon Payments Come Due: What Happens? Refinancing Dynamics 19:35 – Medallion Relief Program (MRP+): Why Harvir and His Father Couldn’t Get a Deal; Accompany Capital’s $100,000 Offer 27:45 – New Refinancing Offer from the Existing Lender? Loan Terms (Rate, Amortization, Monthly Payment, Balloon)? 30:25 – No New Medallion Lenders in the Market? Marblegate? Seller Financing Only? 32:47 – What NYC Taxi Drivers Earn Today (2025) – Part 1 34:20 – How Uber and Curb E-Hail Dispatches Work Inside Yellow Cabs 35:22 – Busiest Days? Number of Trips per Day 36:45 – Uber vs. Curb: E-Hail Split and Driver Preferences 40:53 – Uber vs. Street Hails: Which Pays More? 43:35 – Driver and Passenger Preferences: Street Hails, Taxi Stands, and Airports 46:50 – What NYC Taxi Drivers Earn Today (2025) – Part 2 48:08 – Do You Still Want to Own an NYC Taxi Medallion? Waymo in NYC 50:00 – Thoughts on the Medallion Becoming an Autonomous Vehicle (AV) License 51:45 – Condition of the Current Vehicle Attached to the Medallion: Mileage and Outlook 53:32 – Expense Overview (Taxi/TLC Insurance Premiums and Trends, Gas Costs) 57:21 – Would You Buy Another Medallion Today? The Need for New Lenders and Institutional Investors to Increase Medallion Values – Part 1 59:06 – NYC Taxi Medallion Bull Case Thesis (Reddit, Wall Street Investors, Waymo, Uber) 1:00:37 – Would You Buy Another Medallion Today? The Need for New Lenders and Institutional Investors to Increase Medallion Values – Part 2 01:03:40 – Waymo, Politics (Mamdani), Regulation, and the Future of Yellow Cabs 01:06:21 – Prediction and Price Target for NYC Taxi Medallion Values: How You Think About It 01:08:59 – Final Thoughts: Why NYC Yellow Cabs Aren’t Dead 01:14:43 – PSA: JFK Queue App, Clickers, and License Risk