Return of the Journeyman: Why taxi drivers are going back to renting rather than owning
- Perry Richardson
- Nov 1
- 3 min read
Updated: Nov 3
Times are changing in the taxi trade, but not necessarily in the direction many once expected. The industry appears to be circling back to a familiar past - one where renting, not owning, is now the reality for many cab drivers.
In his TAXI Newspaper column, Licensed Taxi Drivers’ Association (LTDA) Chairman Paul Brennan reflects on how the profession is revisiting a model that once dominated the trade. The article draws on a contrast between today’s financial pressures and the older generation’s experience of working life behind the wheel, suggesting that despite all the talk of modernisation, the economics of taxi driving are reverting to what they once were.
A return to the renter’s world
Brennan recalls his early years in the trade, when older cabbies would talk about the long waits for new vehicles and how renting was often the only viable route to getting on the road. In those days, he explains, it could take more than a year to buy a cab.
For many, renting a cab was the safer and faster option. It allowed drivers to start earning straight away without the financial burden or mechanical headaches that could come with ownership. Brennan recalls the daily ritual of visiting the garage, checking fluids and oil, and paying rent before heading out for the day’s work.
Brennan said: “I remember when I first got out, many of the old-timers would tell me how you had to rent a cab, because at best it was a one-year wait if you wanted to buy one.
“It was therefore thought by many to be the safer option to rent a cab and let the garage deal with any issues. Even when I got out and rented my first cab, I had to visit my garage every day to pick up five-and-a-half litres of fluids just to keep the cab running.
“Three litres of water, two litres of oil, and half-a-litre of power steering fluid. When I had a little moan about it, I was told I could take the other cab, as that only needed two litres of fluid.
“Why’s that?” I asked. “Well, it doesn’t have power steering, so you won’t need the fluid for that. And the chances of the engine staying on long enough to get hot and burn through the water are about as likely as getting a flyer from a bent hotel.”
Today, he argues, the same logic is creeping back into the industry — though the reasons are different. Ownership is becoming increasingly unaffordable for some cabbies. The cost of buying a purpose-built cab has soared, and with the introduction of electric and hybrid models, the initial outlay can now exceed £65,000. Add in high finance or PCP payments, insurance, and maintenance, and many drivers find the numbers simply do not stack up.
The cost of progress
Modern drivers face a new type of financial challenge. While older cabbies worried about breakdowns and the price of oil, today’s drivers are burdened by thoughts around costs and the ever-present risk of depreciation.
This financial reality has prompted a shift back towards renting or leasing. Rental firms take on the risks of maintenance and depreciation, allowing drivers to focus on work rather than worrying about major mechanical failures. Yet Brennan highlights that this also means drivers are once again spending a significant portion of their weekly earnings on rent, just as their predecessors did decades ago.
The dream of owning one’s own cab, once a key milestone of professional pride, is fading for many drivers. Where being a owner once offered a sense of stability and independence, the sheer cost of staying compliant has forced many back into rental agreements.
Brennan’s main argument is that, in several ways, the taxi trade appears to be returning to the conditions of decades past. The “journeyman” title, once describing a cabbie renting their black cabs, now fits a new generation of drivers facing similar levels of uncertainty.
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