Відео

That should be fine, unless it’s a major correction (i.e., a lot of lines / cross outs)

@@AutoMarketplace basically I wrote the name of the buyer, and make one letter mistake. Then made 2 line over it and the buyer wrote their name on their own. And I am very stressed about that

@@youdontknow2860​​⁠that should be fine 👍 Let us know if you have any issues

@@AutoMarketplace thank you

Good, but complex question. For example, it'll depend on how much you work, etc.. Think the answer will be it depends but currently it is harder to save money than before. However, people are still able to make a living (i.e., pay the bills) driving NYC TLC.

Thanks for flagging, let's see what happens!

Yes, there are multiple ways. In our opinion, best thing to do is order a duplicate title (following instructions in this video). If you are able to order a duplicate title then the title has been processed (usually takes 3 to 6 weeks post DMV registration). Hope that helps!

What do you think has prevented them from doing this over the last decade? What’s the main issue in your opinion?

@@AutoMarketplace I’d say self interest and ego’s has much to play in my opinion. A restructuring would and proper advocacy would help them see the light in my opinion.

Many people probably share your thoughts. Industry definitely doesn’t need to be so zero sum.

Good question. The list actually expanded we think (it seems to be in flux), but we think they’re getting more strict ok the model year now vs before (at least in NYC)

You might lose a couple of days of work after your submit the TLC "Plate Transfer" and are waiting for the visual inspection. However, TLC is moving pretty fast these days.

Yes, you could frame it like that, but there also must be a solution. The regulator (DFS) can't let an insolvent insurance company continue to issue policies (i.e., public safety risks). For example, a rehabilitation or liquidation, another insurance term for bankruptcy you might hear, can happen. The regulator (DFS) can wind down a company over many months and transition drivers to other/new insurance companies. They also will need to manage outstanding claims ATIC owes individuals / companies.

There are basically different rules that Uber (& Lyft) must abide by in NYC vs. all other US markets (i.e., NYC is uniquely dense, history of taxi /for-hire transport regulations, lack of car ownership). Uber (& Lyft) would probably prefer drivers directly pay insurance vs. having to create their own insurance company that facilitates insurance (NYC vs. Florida). Trying to make insurance work ("underwrite") in the for-hire transportation market can be really difficult. Higher probability of accidents, passengers in vehicle can cause lots of claims and lawsuits (real and frivolous). Re. Lockouts, yes we've been covering that very recently (ua-cam.com/video/hpPnfgI7jLM/v-deo.htmlsi=quCm761FtXMT4aWv) and definitely agree impacting many NYC drivers. We'll definitely make another video soon and think more developments on the way.

Great comment 👍

Thank you for the explanation

Something does not add up. They are not known for paying out, their delay tactics as well as history dictate this is IF they pay out. Are they trying to either go bankrupt or ask the government for money while Bisceglia makes his millions?

Creating a monopoly by reducing premiums to discourage other companies from either starting to compete or joining the American Transit demographic knowing in the long run that if they " pay out" claims they would become insolvent it's just ridiculous. Someone needs to investigate what I see as mere fraud on American Transit and the direction Bisceglia has been PURPOSELY taking this company into the ground.

I think the DFS will begin to investigate this, given the recognized loss now. Don’t know a lot about the politics or the strategy around that, but the company is technically insolvent by their own admission now. They really shouldn’t be allowed to underwrite new policies (at all) at this point

Good question. When you get your new vehicle you’ll need *replacement vehicle* TLC insurance and when you have that, you can switch the DMV registration / TLC plates over to the new vehicle. After that you’ll apply for a “vehicle transfer” on TLC UP. You just have to enter the VIN and mileage and wait about 3-5 business days for an appointment letter. So, yes the new vehicle needs to have TLC insurance and the TLC DMV registration transferred over first. Believe an individual can do this at the TLC office same day by making an appointment (they have an onsite DMV). When does your FHV License expire and when do you expect to get the new vehicle? When you pay the $625 renewal it will attach to the vehicle that’s currently listed as attached to the FHV license at that moment.

@@AutoMarketplace thanks so much for that information. i just brought the new vehicle. Switched the insurance and now will try to get the registration and plates swap set up after this holiday and sep 7 it expires so Yea im waiting a bit last minute

Think self-driving is a real thing and will eventually come, although some peoples timelines might be overly aggressive. Do think most people who make a living related to driving a for-hire vehicle, have to think deeply about a potential "robotaxi" future right now vs. thinking about the impacts of self-driving technology 5 to 10 years from now. You might now switch careers right at this moment, but can start planning and thinking about an alternative if/when robotaxis came about/come.

Vomit and 💩 on the seats broken glass and nails in tires were in for interesting times😂😂

We cannot give direct financial advice (we ae not licensed to). That being said, in our opinion, we would be nervous about dealing with an insurance company that has a known, technical solvency issues. As you might know, there are essentially only other options in the TLC liability insurance marketplace - Hereford & INSHUR. Those companies premiums might be higher, just fyi.

Not looking for " financial advice ". Ralph Bisceglia, their history with acting in bad faith and other things may indicate some time of potential fraud, money and loses " not on paper" and the need fir an investigation by the powers that be.....

I am not equipped to give financial advice. However, considering the steps that would be taken for such a huge company, it is definitely not going to be within 24 hours or in the next year. You should be fine. Any responsibilities due from the carrier, the department of insurance will give the appropriate tools for the policyholders not to be affected.

Question: how do i renew my TLC insurance. Does it work like a normal insurance company by just restarting or does it just start after i pay the registration fee? I new to all of this lol.

@@Iphonemaster091 usually your current broker will reach out to you 1-2 months before the expiration date of your current policy with your new rates. When does your currently active policy expiry? It's not too complex and happy to help provide high level guidance.

Sorry to hear that. How many hours per day do you typically work? As you might know, the Mayor, TLC and Uber say that post Labor Day, lockouts might reduce significantly. Let's see! If they don't, a lot of drivers are going to be very upset.

Yes, as expected given August is always a very slow month. Will be interesting to see how post Labor Day is. If it’s still bad, then that’s very concerning

Definitely hear your frustration. Expenses are piling up, while earning opportunities are decreasing. The reason why there aren't more insurance option could be seen as relating to the largest TLC insurer, American Transit, being allowed to operate in an unsustainable manner (we just did a video and article on this, if interested - automarketplace.substack.com/p/american-transit-officially-insolvent). This could be changing soon, but rates also might be going up!

Believe the brakes on this vehicle are painted / customized beyond what the standard Z71 package has.

The simplified answer is Uber and Lyft are going to try its best to make sure there is a or multiple drivers available (not locked out), as soon as a trip request comes in. How they are choosing which driver not to lock out is a great question. Is might be based on rating, how long they've been logged on, type of vehicle, cancellation rate, Uber status, etc, it's anyone's best guess (i.e., algorithm).

I will say mostly is based on Acceptance rate.

Acceptance rate > Rating

Ya medallion yellow cabs good where ya at garbage drivers

Think Octopus’ problem is more to do with all the excessive rules vs the required minimum cut. They want the rules to be much more simple. That’s at least our reading.

It all depends. Would say a combination of new City Council and/or TLC policymaking action (or inaction), the state of the economy (e.g., trip volumes) and whether more FHV Licenses (TLC Plates) are released in February / March 2025, after the annual determination. Uber / Lyft NYC waitlists are probably going to be around for a while though.

It’s the same for Uber as well. I have never been paid a cent just for waiting, only the actual ride. So yes it is BS.

@@loveanimeforever9115 this pay only goes into affect if the UR remains below the threshold for x amount of time. Lockouts were implemented to avoid needing to pay out those wages.

Is it mostly luxury / premium work? You’re not dispatching with a base etc? Just be careful because you still need to remit sales tax / BCF fees