Specialist
Taxi Finance and Leasing
High quality taxi car finance solutions for UK & international clients.
We can deliver enhanced, bespoke or exclusive terms through our market knowledge.
Call us on 0203 900 4322 to discuss your requirements.
Buying a taxi is a big financial decision that needs careful thinking. The price can be very high depending on the type, model and condition of the taxi. Besides the price, owning and running a taxi also costs a lot for things like maintenance, insurance, tax and fuel.
For many people and businesses, paying the full price at once is not possible. This is where taxi financing can help. By getting financing, buyers can pay for the taxi over time with a loan or a lease. This helps with cash flow and makes taxi ownership easier and cheaper.
There are different financing options to pick from, each with their own benefits and drawbacks. Loans let you borrow money to buy the taxi, while leases let you pay a monthly fee to use it without owning it.
With our help, you can find the best option for you based on things like tax, financial goals, and future plans for the taxi.
Here, we will take a look into the following topics:
Remember, the right taxi vehicle can significantly improve your income potential, and with the right finance or lease plan, it’s more affordable than you might think.
When looking to acquire a taxi for your business, you have several finance and leasing options to consider. Each option has pros and cons to weigh up depending on your income potential and cash flow. Here are some of the options that are most popular when looking to finance a taxi:
Many reputable manufacturers offer a wide range of taxi vehicles for all sorts of passenger needs and preferences. All of these types of taxi vehicles can be acquired on finance. Here are some options and price ranges as an example:
| Vehicle Type | Model | Price Range (£) |
|---|---|---|
| Saloon Cars | Toyota Prius | £24,875 - £32,125 |
| Skoda Octavia | £22,390 - £36,875 | |
| Ford Mondeo | £25,565 - £33,310 | |
| Estate Cars | VW Passat | £27,630 - £40,630 |
| Mercedes E-Class | £40,460 - £62,685 | |
| BMW 5 Series | £41,155 - £63,980 | |
| MPVs | Ford Galaxy | £34,210 - £41,210 |
| VW Sharan | £32,140 - £39,140 | |
| Citroen Grand C4 SpaceTourer | £27,460 - £33,460 | |
| Minibuses | Mercedes Vito | £23,010 - £37,475 |
| Ford Tourneo Custom | £37,950 - £48,950 | |
| Renault Trafic Passenger | £27,950 - £35,950 | |
| Wheelchair Accessible Vehicles | Peugeot Partner Tepee | £19,650 - £21,650 |
| Fiat Doblo | £19,995 - £23,495 | |
| Volkswagen Caddy Maxi Life | £23,610 - £29,610 |
These prices are approximate and can vary based on factors such as the vehicle’s condition, mileage, and location. Always check with the dealer or seller for the most accurate and up-to-date pricing.
When it comes to taxi finance and leasing in the UK, understanding the tax implications is important. The type of finance or lease agreement you choose can affect your tax obligations.
In terms of income tax, self-employed taxi drivers can claim up to 100% of the monthly payments as an allowable expense against their taxable profits. This also applies to costs such as maintenance and insurance that are included in the finance or lease agreement. However, this benefit is reduced by the amount of private use of the vehicle.
If you are looking for a taxi for sale, you may want to consider the different finance and lease options available to you. These options can affect how you handle the maintenance and insurance of your taxi vehicle.
When it comes to insurance, you must ensure that your taxi vehicle is insured under your business name. The insurance policy that covers your taxi must be a taxi insurance policy, which is different from a standard motor vehicle insurance policy. This means that you need to have a valid taxi licence and meet the specific requirements of your local authority.
Choosing the right finance or lease option for your taxi business depends on your preferences and circumstances. It’s always a good idea to consult with a financial advisor, like us at Clifton Private Finance, or an accountant to understand the best option for your needs.
Typically, at the end of an asset finance agreement, you’ll have three options:
Consider costs, business needs, and the vehicle's condition to determine the best option. Discuss requirements with your asset finance provider ahead of time.
Finding the best deal for taxi vehicle finance and leasing can be a daunting task, especially if you are not familiar with the different options, terms, and conditions. That’s why using a finance broker can help you get the best deal and the most suitable option for your purchase. At Clifton Private Finance, we can help you:
At Clifton Private Finance, we are a leading finance broker in the UK, and we specialise in commericial vehicle finance. We have access to multiple asset finance lenders, and we always compare the best options to offer you bespoke finance solutions that suit your needs and budget. We can also help you with any type or model of taxi vehicle - from minivans to saloon cars, and specialised vehicles that require wheelchair access.
If you are interested in buying a taxi vehicle on finance, contact us today and speak to one of our expert advisers. We will be happy to answer any questions you may have, and provide you with a free, no-obligation quote. We look forward to hearing from you soon.
Call us today to discuss your requirements on 0203 900 4322
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Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
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My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.
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