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A lease cap is the highest price a yellow taxi owner or fleet may legally charge you to lease a medallion, with or without the car, for a shift or a week. TLC calls it the Standard Lease Cap. It is set in Rule 58-21(c) (Chapter 58, updated February 27, 2026). The owner may charge less, never more, plus only a short list of allowed extras.
The key numbers
The hybrid amounts are $3 a shift or $21 a week higher. They apply to hybrid electric and diesel taxis that meet the rule's vehicle conditions (58-21(c)(2)).
What the cap includes
- Shift and weekly car leases include service and maintenance, so you can't be charged for them. You don't pay the Commercial Motor Vehicle Tax (58-21(c)(1)(iii)-(iv)). Weekly leases also include collision and damage coverage, unless you signed a written agreement about damage you cause (58-21(c)(1)(vi)).
- Medallion-only leases include use of the medallion, TLC fees except inspection, required insurance, credit card fees, and up to 3 drivers on request (58-21(c)(3)(iv)).
- DOV leases (medallion plus a car you are buying) cap total car payments at $42,900, after which title passes to you on request (58-21(c)(4)).
Daily drivers: the weekly limit
If you pay by the shift, return the car after each shift and can cancel with notice, you can't be charged more than $630 for six or more day shifts, or $737 for six or more night or mixed shifts, in any seven days. A driver who leases seven shifts can be charged for seven (58-21(c)(1)(ii)).
Where drivers see it
- On the Driver Bill of Rights posters that taxi businesses must post where drivers do business (Rule 58-17(b)(3); fleet, DOV), which print the cap table.
- In your written lease, which must itemize the medallion and vehicle amounts and cite the rule (58-21(i)).
- In an overcharge case: $500 first, then $1,000 and/or up to 30 days' medallion suspension, with mandatory restitution to you (58-21(c)).
Related terms
Gas surcharge, credit card surcharge, security deposit and DOV lease. The full day-by-day table and worked examples are in NYC taxi lease caps. Add-ons are covered in extra charges a fleet can add. App drivers renting a car should see for-hire vehicle rules instead. More pay topics are on the money hub.
Frequently asked questions
What is the taxi lease cap for a day shift?
$105 for a 12-hour day shift on a standard taxi, or $108 on a qualifying hybrid or clean-diesel taxi (TLC Rule 58-21(c)(1)-(2)).
Can a fleet charge less than the cap?
Yes. The cap is a maximum. An owner 'can charge a lease rate to a Driver that is not greater than' the Standard Lease Caps (Rule 58-21(c)(1)).
Are there charges allowed on top of the cap?
Only the items in Rule 58-21(c)(5), such as the credit card surcharge ($7 a shift or $49 a week), a gas surcharge if the owner supplies all fuel, a security deposit and late charges. Anything else above the cap is an overcharge.
Does the cap apply to Uber and Lyft rentals?
No. These caps are for yellow taxi medallion leases under Chapter 58. For-hire vehicle leases are covered by a different TLC rule, 59A-21.
Sources
Last reviewed against the official sources on .
- TLC Rule Book, Chapter 58 (§58-21(c)), updated Feb 27, 2026 nyc.gov
- TLC: Daily & Weekly Taxicab Driver Bill of Rights (poster) nyc.gov
- TLC: Taxi DOV Driver Bill of Rights (poster) nyc.gov
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TLC Help is not a law firm and is not affiliated with the NYC Taxi & Limousine Commission or OATH. Explanations on this site are general information, not legal advice. Legal representation is provided by independent attorneys and OATH-registered representatives in our network.