If you are interested in working for taxi services, you have wondered what arrangements these companies are working with their drivers regarding the vehicles that drivers use daily. The truth is that the event differs from business to business. Some companies rent their vehicles to their drivers, others have them buy cars, and some allow both.
Most companies in this company will ask their drivers to rent a cab from their organization. This has simply become the standard accepted model for how these types of businesses are run. The only companies that would require all drivers to buy a cabin should be very, very small, with a dedicated contingent of drivers. This would be more common in a company that runs luxury cars instead. The reason is that it's just too big an obligation to require a person to buy a cab, just to work as a driver, especially when they do not really know if it's a job they'll enjoy doing or not in someone time.
Therefore, most companies usually hire cars instead. In fact, they rent their drivers a complete package that contains everything they need to drive their taxi successfully. That means they get the car, but also a meter, a radio and payment equipment. That way, they are ready to start with their rental package as soon as they complete their training.
There are some large companies that lease most of their cabs but still have a purchase option in place. It is a kind of courtesy that they extend to dedicated drivers who have worked in the industry in the long term. By allowing them to buy their vehicles, they allow them to invest in their business, and hopefully to build a more profitable end than just leasing a cab allows.
The exact rules for leasing or buying cabs will be different between all cabs. If you have never driven a cab before, because and are interested in joining the industry, it is always recommended to lease before you buy. Buying a vehicle is a significant financial commitment and a cab can be hard to sell quickly if you decide that the job is not for you. Leasing gives you a window to test the job and, if allowed, you can buy later.