Rebuilding a taxi fleet in Scotland with a zero-deposit vehicle funding package
Where it left the business
The business gets both vehicles on the road without a large cash outlay, so it can take back the work it has been turning away and start rebuilding revenue.
Supporting facts
The ambition
A long-established family taxi business, trading for over 50 years and now run as a limited company, had seen its fleet cut to a single working car after a run of incidents, with two financed vehicles still being paid for while off the road. Demand was still there. With a full fleet the business was already turning away around half the work offered, and it was being offered contract work it could not take on without more vehicles. The business had no spare capital for a deposit or for the VAT, having only just crossed the VAT threshold, and it had an existing finance offer that needed a large upfront payment and nearly £2,500 a month. The owner also wanted the freedom to settle early without paying the full term’s interest.
How the finance was structured
The business had chosen a seven-seat automatic diesel people carrier, which gave the seats and luggage space it needed, alongside a hybrid SUV to match the rest of the fleet, and we arranged the finance for both. We went to market for a structure that beat the existing offer on the two things that mattered most: the lowest possible upfront payment and a lower monthly cost. We asked lenders to quote both a finance lease and hire purchase so the owner could compare the options and APRs side by side, with VAT built into the payments rather than due upfront.
What it made possible
The business gets both vehicles on the road without a large cash outlay, so it can take back the work it has been turning away and start rebuilding revenue.
Client details are anonymised. Figures are the facility terms published for this case; lenders make their own credit decisions and every case is assessed individually.
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