Taxis are any motor vehicle, other than bus or livery, which is operated or engaged in the business of transporting passengers for hire. A livery is any motor vehicle which is owned or used for the purpose of transporting passengers for hire or which is hired by specific charter or for a particular contract, by the date, hour, or other fixed period, and for which use there is charged a fare or price agreed upon in advance between the owner/operator and the passenger. The main difference between taxis and livery vehicles is that taxis can cruise the street in search of cab hails and fares, whereas livery vehicles must be called, for instance by radio. The difference is often overlooked, except when it comes to various established laws, permits, licenses, etc. According to IBISWorld Industry Report the industry's contribution to GDP, is expected to grow at an average annual rate of 1.1% to 2018. During that same period, GDP is estimated to increase 2.1% per year on average. Industry demand is typically influenced by disposable income levels, corporate profit and domestic trips by US residents. All of these factors fell during the recession, but have improved since 2010, allowing the industry's growth to remain in the positive.
TruckLenders USA is well positioned in the marketplace to guide you through the taxi and livery vehicle financing process.
Our confidence is backed by over 30 years in the transportation industry. Whether you are a single taxi owner operator, a taxi/livery fleet operator or larger scale taxi/livery organization; our team of qualified financing experts will provide you with the same courtesy, comfort, and dedication that you offer to your own clients. Special needs transport, limousine, corporate and luxury sedans are just some of the many vehicles we finance for passenger transport. Your time is valuable to us, and we work hard to approve your application in less than 4 hours, with funding turnaround in under 24 hours from receipt of completed contracts.