Every working day Nubia Pérez will get up early to choose up passengers in her yellow taxi.
Nubia functions tirelessly to acquire as a lot as feasible and shell out the owner of the medallion $ 800 a 7 days to lease the auto.
“In my circumstance I work 9 hrs, I begin at 8 in the morning and finish at 5, but that is without the need of halting all the time. Always looking for shoppers, where we know we can uncover them and up and down the complete working day doing the job and generating the energy, “Nubia stated.
-It truly is not straightforward?
“No, it truly is not effortless.”
Till the 2010s, driving a yellow cab was a worthwhile organization, and the request for a medallion to operate was so complicated and pricey that you could pay up to a million dollars.
Thousands of individuals went into personal debt to get it, but with the introduction of electronic platforms like Uber, Raise and many others they devastated the market and debts ongoing to pile up.
In recent years there has also been a spate of scenarios of taxi motorists who have dedicated suicide because of to the incapacity to fork out their money owed.
So the deal introduced Tuesday in between Mayor Eric Adams and the NYC Taxi and Limousine Commission eases relatively the payment of those millionaire debts that the additional than 3,000 medallion proprietors in the metropolis have.
Motorists hope that they too will advantage from spending the medallion homeowners much less.
“You have to perform all your hours to be in a position to fulfill the commitment mainly because anything has amplified. The fuel is really higher, which did not truly assistance us, it was like lowering our wage,” extra Nubia.
With this agreement the debts can be restructured to a capital of 200 thousand bucks with 170 thousand bucks of bank loan and the remaining 30 thousand as a contribution from the Municipality, which can be utilized as a down payment or down payment, and the rest, at an interest rate of 7.3%. for 25 several years.
“I generate 1,600 a 7 days, 800 for the proprietor of the medallion and 800 for myself, working 12 hrs a day,” said a further taxi driver.
And like Nubia, the Dominican taxi driver, anyone we spoke to informed us the very same thing, hoping that this agreement will reward them as well and not just the owners of the medallions.
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