People often ask how much it costs to run a London taxi, so here's a rough breakdown of my monthly overheads.
Taxi finance: £980
Insurance: £335
Petrol: £240–£360
Electric charging: £240–£336
Taxi licence: £11
Total:£1806 - £2022
These figures will vary from driver to driver, but they should give you a rough idea of the running costs involved.
I can already hear some of you saying, "What about repairs?"
I used to put aside £10 a day for unexpected repair bills, but these days I prefer to use a credit card and pay it off gradually over time if something crops up.
Here's some of the repairs ive come across:
Tyres: £130 each
Taxi ramp hinges: £750
Thick black carpets: £500