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A medallion-only lease is when a medallion owner or agent rents you only the medallion, and you put it on your own car. In one sentence: you pay a weekly price for the right to run a yellow cab, and the car, its repairs and its fuel are yours. TLC's rule calls it "the lease of a Medallion-only" and caps the price (rule 58-21(c)(3), read October 12, 2026).
The caps
- $994 a week for a medallion-only lease of a hybrid taxi hacked up under 67-05 that meets Admin Code 19-533.
- $952 a week for every other medallion-only taxi, including accessible taxis.
- If the owner had to put an accessible taxi into service under the accessibility rules, or receives Taxi Improvement Fund payments for it, your lease must include a $77 weekly credit for the four-year period.
If the car is also being sold to you by the owner or agent, it is a DOV lease instead, with $275 a week added for the car.
What the weekly price must include
The owner may not take any other payment from you for buying or leasing a car, may not charge a gas surcharge, and may not make you use a particular repair shop.
Allowed extras
Only items from the short list in 58-21(c)(5): for example a security deposit (no more than one week's lease), the discounted toll amount if you use the owner's E-ZPass, a late fee of up to $50 per weekly payment paid more than 24 hours late, parking and red-light tickets you were allowed to challenge, and the Taxicab Improvement Surcharge.
Where you'll see it
On the DOV Taxicab Driver Bill of Rights poster, which lists what a "Medallion Only Lease" includes (poster), and on the lease and receipts your agent gives you. Receipts must show the medallion number and the TLC rule for each charge.
Related: how many drivers can share a lease · taxi lease caps · DOV lease-to-own guide · medallion · Medallion Relief Program · medallions hub.
Frequently asked questions
What is a medallion-only lease?
A lease where the owner or agent rents you only the medallion and you supply the car. TLC rule 58-21(c)(3) caps it at $994 a week for a qualifying hybrid taxi and $952 a week for all others, including accessible taxis.
Does the owner have to fix my car?
No. A medallion-only lease does not include service and maintenance of the car, but the owner or agent also can't make you use a particular repair shop (58-21(b)(2)–(3)).
Is insurance included?
Yes. The lease cap must include the insurance required by rule 58-13, credit card fees, TLC fees except inspection fees, and up to 3 drivers at the drivers' request.
Can the owner charge a gas surcharge?
No. Rule 58-21(c)(3)(v) says the gas surcharge option is not available on medallion-only leases.
What if I pay late?
The owner may charge a late fee of up to $50 for each weekly payment, and only if the payment is more than 24 hours late (58-21(c)(5)(iv)(B)).
Sources
Last reviewed against the official sources on .
- TLC Rule Book, Chapter 58 (58-21 leasing) nyc.gov
- TLC: DOV Taxicab Driver Bill of Rights (poster) nyc.gov
- TLC: Medallion Owners and Agents 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.