Owning a black cab is expensive. These aren’t your average Ubers. They’re custom-built, wheelchair-accessible, and certified for London’s mean streets.
A new black cab can cost £60,000. Yes, you read that right. That’s more than a luxury sedan. And drivers often rent them instead of buying.
Rental fees? About £250 to £350 per week. That’s before you pay for a single passenger. And insurance? Another £200 a week for full coverage.
Fuel is the real kicker. These beasts guzzle diesel or, in newer models, electricity. A driver can spend £100 to £150 a week just to keep moving.
The "Knowledge" Tax
Here’s the funniest part: earning this money takes years of unpaid training. Drivers must pass “The Knowledge”—a test of 25,000 London streets and landmarks. It takes two to four years of studying on a moped.
That’s a huge investment of time and patience. No one does it for quick cash. It’s a badge of honor, not a get-rich scheme.
So while a new Uber driver can start tomorrow, a black cabbie has already sunk thousands of pounds into brain training. That raises their value—and their fares.
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