Taxi basics

Taxi basics2019-06-03T05:18:23+00:00

Taxi basics

Hong Kong “Taxi”. After the passenger gets on the car, the customer will tell the driver where is the destination. Taxi can be straight to the point and is a convenient public transport. The fare is based on the ride and waiting time, and additional charges apply for storing luggage, calling the taxi and using the toll road. There are many taxi stands in various districts of Hong Kong for passengers to wait for taxis. Some of the restricted parking areas also have some taxi-only pick-up and drop-off points.

Different types of taxi

There are three types of taxis in Hong Kong, Urban taxis, New Territories taxis and Lantau taxis. There are two main reasons for this type of classification of taxis. First, because there are more passengers in the urban area, the needs of the taxi are more than the other two areas add up. Secondly, due to the inconvenient traffic in the suburbs, residents are more dependent on taxi services. Therefore, it is necessary to set up a taxi service with a cheaper fare to go to the suburbs. According to the statistics of the Transport Department, there are currently 18,163 taxis in Hong Kong, including 15,250 urban taxis (red), 2,838 New Territories taxis (green) and 75 Lantau taxis (blue). On average there are about 1 million people using taxi service per day.

Different types of taxi

There are three types of taxis in Hong Kong, Urban taxis, New Territories taxis and Lantau taxis. There are two main reasons for this type of classification of taxis. First, because there are more passengers in the urban area, the needs of the taxi are more than the other two areas add up. Secondly, due to the inconvenient traffic in the suburbs, residents are more dependent on taxi services. Therefore, it is necessary to set up a taxi service with a cheaper fare to go to the suburbs. According to the statistics of the Transport Department, there are currently 18,163 taxis in Hong Kong, including 15,250 urban taxis (red), 2,838 New Territories taxis (green) and 75 Lantau taxis (blue). On average there are about 1 million people using taxi service per day.

The process of buying a taxi

Buyer

Seller

*如買家是需要辦理按揭或更換車輛則需要延長,如買家是需要辦理按揭如買方是需要辦理按揭,成交日當日或之前,賣方將會收取買方首期餘額

Trading taxi and operating costs

In addition to the market price agreed upon by the buyer and the seller, the fees for the taxi licence transaction are quite clear and transparent.

  • License transfer fee (HK$1,000)

  • Inspection fee (HK$585)

  • Vehicle license fee (HK$3,159)

  • Business Registration Certificate (HK$2,250)

  • Insurance fees (there are different premiums for purchasing different levels of insurance)

  • Maintenance (depending on vehicle wear and tear)

Taxi mortgage

If you need to apply for a mortgage loan or flip through the cash, we could help customer apply for it.
According to the guidance of the HKMA, the maximum amount of mortgage loans purchased by banks or financial institutions for taxis is 80% – 85% of the market price (brand price + vehicle).

Documents required to apply for a mortgage loan:
  • Applicant’s Hong Kong Identity Card (If you apply in the name of the company, you must submit the company registration certificate and business registration certificate)

  • Vehicle registration certificate

  • Taxi driving permit

  • Bank statement

  • Proof of address (e.g., water bill, electricity bill)

  • Income records (e.g., MPF contributions)

  • Business registration certificate (we could help customer apply for it)

General mortgage loan program in the market:
  • The loan amount is about 80% of the market price (brand price + vehicle)

  • Mortgage rate (P-X% depending on the bank interest rate)

  • Repayment period up to 25 years

Mortgage calculator
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