Crazy Taxi: Fare Wars offers cabbies several single player modes including the mission-based Arcade mode, where skilled drivers earn time bonuses, and Time Trial mode where drivers collect the highest fares possible in the time allowed. In addition, for cabbies to practice their crazy driving skills, two mini-game training modes are available. They include Crazy Box, a collection of 16 original Crazy Taxi mini-games and Crazy Pyramid, mini-games arranged in a pyramid that drivers must complete to unlock more mini-games from Crazy Taxi 2.

Crazy Taxi: Fare Wars introduces new multiplayer modes for two cabbies to collaborate or compete wirelessly via Ad Hoc. Drivers can also record and save gameplay replays of their driving performance in Crazy Taxi 2 on the PSP system's memory stick to replay and show off.