Though still in the midst of the depression, 1931 was still a profitable year for Checker, but that would change in 1932 as the depression finally caught up with the company and after several profitable years, sales collapsed and Checker started to bleed money, generating losses month after month. So bad was the economy that Checker shut down for several weeks at the tail end of 1932. Despite the losses of 1932 and using minimal funds, Checker was able to introduce a new taxicab for 1933, the Model T.

This was a highly modified version of the Model M, and both the Model M and K were dropped in 1933. The Utility Wagon was continued conceptually with a new Model T based car.  The new taxicab utilized the new Lycoming GU or GUC 8-cylinder engine, riding on a 122-inch wheelbase. In Checker was able to partner with E L Cord in 1933 Checker would also produce a brand-engineered version of the Model T, the Auburn Safe-T-Cab, which was sold in limited numbers to the Safe-T-Cab Company in Cleveland, Ohio. Upon close examination its very clear that the Model T is still based on the Model K but out fitted with slightly different styling ques.