Vehicle finance for taxis, PHV cars, minibuses & coaches — Get a free quote

Short answer: Yes — it is possible to finance taxis, private hire (PHV) cars, minibuses and coaches. UK Business Loans helps businesses (from single vehicles to fleets) by matching enquiries to specialist lenders and brokers for vehicle finance starting from around £10,000 and above. Complete a short enquiry and get a free eligibility check and quotes from the most appropriate providers.

Quick answer: Yes — and here’s how UK Business Loans can help

Yes — taxis, PHV cars, minibuses and coaches can be financed through specialist vehicle finance products. UK Business Loans does not lend money; instead we introduce your business to lenders and brokers experienced in commercial vehicle finance so you can compare options quickly and without obligation. Our service is free — simply Get Started with a Free Eligibility Check and we’ll match your enquiry to the most suitable partners.

Which vehicle types can be financed?

Most lenders and brokers offer finance for a wide range of passenger-carrying vehicles. Typical categories include:

Taxis & PHV cars — funding options

• Hire Purchase (HP): common for drivers who want to own the vehicle at the end of the term.
• Leasing / Contract Hire: an option for drivers preferring predictable monthly costs and regular replacement.
• Asset finance: for purchasing new or used vehicles as a business asset.
• Commercial business loans or term loans: could suit drivers looking for outright purchase funds.

Minibuses

• Asset finance and hire purchase for single minibuses.
• Fleet finance / structured drawdown for operators buying multiple vehicles over time.
• Operating leases for organisations needing shorter-term use without ownership.

Coaches

• Commercial vehicle finance designed for passenger coaches — often tailored to coach operators and hire companies.
• Hire purchase and finance lease options; refinancing to release working capital is also common.

Note on vehicle condition: lenders consider new vs used vehicle age, mileage and condition. Some lenders specialise in older or high-mileage vehicles; others focus on new stock. Typical deposit requirements vary, but expect to see deposits or initial rentals in some products, especially for higher-value vehicles.

If you want a deeper overview of our vehicle product options you can also read about our specialist vehicle finance partnerships.

How the main finance types compare

Below is a practical comparison to help you decide which route suits your operation.

• Hire Purchase (HP) — You pay fixed monthly amounts and own the vehicle at the end once the final payment is made. Good for drivers/operators wanting eventual ownership.
• Finance Lease / Operating Lease — Lease arrangements where you pay to use the vehicle; ownership may not transfer. Operating leases are often off-balance-sheet for businesses that prefer rental-like arrangements.
• Asset Finance — Flexible for single or multiple vehicles, can include staged drawdowns for fleet purchases and often allows financing of refurbishment or ancillaries.
• Business Loan / Term Loan — Unsecured or secured loan that can be used to buy vehicles outright; useful if you prefer a single repayment schedule rather than asset-specific finance.
• Contract Hire — Fixed-term rental with maintenance options; VAT treatment can be favourable for VAT-registered businesses.

Example scenarios:

• Solo taxi owner replacing a single cab: Hire Purchase is often chosen to spread cost and become owner.
• Small PHV operator adding three cars: Asset finance with structured drawdown lets you expand without a large one-off payment.
• Coach hire company expanding fleet: Commercial vehicle finance or refinancing existing fleet can free up cash for growth.

Get a Free Eligibility Check — we’ll match you to lenders who specialise in the product that fits your situation.

Typical eligibility — what lenders look for

Lenders vary, but these are common checks and criteria:

• Company trading history and turnover — established businesses usually have an easier time; some specialist lenders will consider newer businesses.
• Credit profile — business and director credit histories are reviewed; some lenders specialise in imperfect credit cases.
• Vehicle use and licences — evidence of PHV/taxi licences or PSV/operator licences where applicable.
• Contracts and income streams — evidence of regular contracts (e.g., private hire bookings, school contracts) can strengthen your case.
• Deposit and deposit source — some products require an initial payment or first rental.

Lenders may ask for: bank statements, ID, vehicle quotations, proof of licences and recent accounts. UK Business Loans will match your enquiry to lenders most likely to accept your profile.

Costs, deposit, VAT & tax considerations

Costs vary by product and lender. Key points to consider:

• Upfront costs: deposits, initial rentals, admin fees, and delivery/commission charges.
• Ongoing costs: monthly rental or repayment, maintenance packages, servicing, insurance and fuel.
• VAT treatment: contract hire and some lease products have specific VAT rules — VAT-registered companies may reclaim VAT in certain cases; check with an accountant.
• Insurance & PSV: for passenger vehicles and coaches, lenders will expect valid insurance and may require PSV or taxi licence checks before drawdown.

Illustrative examples are possible but will vary by lender and credit profile — for precise costings you should request quotes. All figures are indicative and subject to status; offers differ across the market.

How UK Business Loans helps — process & typical timescales

Our matching process is designed to be quick and simple:

1. Complete a short enquiry (it takes around 2 minutes) — provide basic business details, vehicle type, budget and contact info.
2. We match your enquiry to specialist lenders or brokers in our panel.
3. Matched partners contact you to discuss options and collect any additional documents.
4. Compare offers and choose the solution that fits your business.

Turnaround: simple single-vehicle deals often receive responses within hours to a few days. Fleet or coach finance, and cases needing licence or PSV checks, can take longer (several days to a few weeks). Our service is free and confidential — Get Quote Now (Free Eligibility Check).

Common scenarios & mini case studies

Case 1 — Solo taxi driver replacing a vehicle

Challenge: older cab needed replacing but limited cash upfront. Product chosen: Hire Purchase through a specialist lender. Result: affordable monthly payments and ownership at term end; paperwork completed within a week.

Case 2 — PHV operator expanding to three cars

Challenge: scaling fleet without tying up cash. Product chosen: asset finance with structured drawdown. Result: staged delivery and predictable repayments; quicker route to new vehicles and faster revenue generation.

Case 3 — Coach operator refinancing

Challenge: high monthly debt servicing on older facilities. Product chosen: fleet refinance to consolidate and reduce monthly cost. Result: improved cashflow and ability to tender for new contracts.

Want a tailored example for your business? Start a Free Eligibility Check and we’ll match you to the right specialists.

Risks, compliance & licences

Passenger-carrying vehicles are subject to extra regulatory checks:

• Taxis/PHVs: local authority licensing, vehicle inspections and driver checks are standard requirements.
• Coaches: PSV operator licences, tachograph and maintenance regimes must be in place.
• Lenders often make offers conditional on valid licences, inspections or satisfactory insurance cover.

Important: UK Business Loans is an introducer that matches enquiries to lenders and brokers. We do not lend money or provide regulated financial advice. All offers are subject to lender checks and status. The enquiry you submit is used to match you with potential providers — it is not a loan application in itself.

How to prepare before you apply — quick checklist

• Recent business bank statements (3–6 months).
• Director ID (passport/driving licence) and proof of address.
• Vehicle quote(s) or dealer details.
• Evidence of contracts or regular income (if relevant).
• Licence details: PHV/taxi or PSV operator licence where applicable.
• VAT registration number and recent accounts (if available).

Preparing these documents speeds up matching and increases the chance of a swift offer.

Frequently asked questions

Can I get finance for a used taxi or PHV?

Yes. Many lenders finance used taxis and PHVs, though vehicle age and mileage limits vary. Some fund higher-mileage vehicles via specialist schemes.

Do I need a PSV or taxi licence to get finance?

Often lenders will check that the operator holds the relevant licences. Some offers may be conditional on providing a valid licence or a planned licence application.

Will applying through UK Business Loans affect my credit score?

No — your initial enquiry is used to match you with lenders and does not impact your credit file. Lenders may perform credit checks later if you proceed with an application.

How long does finance approval take?

Simple single-vehicle approvals can complete in days; fleet or coach finance generally takes longer due to due diligence and licence checks.

Can new businesses access vehicle finance?

Some specialist lenders and brokers support newer businesses, but criteria vary. Having clear revenue projections or contracts improves prospects.

Do you charge businesses for matching?

No — our service is free for businesses. We earn revenue when your enquiry leads to a successful introduction.

Ready to get a free quote?

If you’re ready to explore finance for taxis, PHV cars, minibuses or coaches, complete our short enquiry now — it takes about two minutes. We’ll match you to lenders and brokers who specialise in commercial vehicle solutions starting from approximately £10,000 and up.

Get Started — Free Eligibility Check & Quote

Important: UK Business Loans introduces businesses to lenders and brokers. We do not lend money or provide regulated financial advice. The enquiry form is for matching purposes only — it is not a loan application. All finance offers are subject to status and lender eligibility checks. This service is free to UK businesses.

1. Can I get vehicle finance for taxis, PHV cars, minibuses or coaches?
Yes — specialist lenders and brokers offer vehicle finance for taxis, PHV cars, minibuses and coaches, including single vehicles and fleet deals from roughly £10,000 upwards.

2. What finance types are available for taxi and PHV vehicle purchases?
Common options include Hire Purchase (HP), finance leases/contract hire, asset finance and business/term loans, each suited to different ownership and cashflow needs.

3. Can I finance a used taxi or a high‑mileage PHV?
Yes — many lenders finance used vehicles, though age, mileage and condition limits vary and some specialist schemes target older or higher‑mileage stock.

4. Do I need a taxi licence, PHV licence or PSV/operator licence to get vehicle finance?
Lenders often require or make offers conditional on valid local taxi/PHV licences or PSV/operator licences and may request inspections before drawdown.

5. How much deposit or initial rental will lenders usually ask for?
Deposit and initial rental requirements vary by product, vehicle value and credit profile, with some deals needing a sizeable upfront payment while others offer lower deposits for stronger applicants.

6. Will submitting a UK Business Loans enquiry affect my credit score?
No — your initial enquiry is not a formal application and won’t affect your credit file, though lenders may perform credit checks later if you progress.

7. How long does approval and funding for vehicle finance typically take?
Simple single‑vehicle deals commonly complete within days, while fleet finance, coach funding or applications requiring licence and PSV checks can take several days to a few weeks.

8. Can new businesses, sole traders or operators with imperfect credit get vehicle finance?
Yes — specialist lenders and brokers on our panel consider new businesses, sole traders and those with imperfect credit, though terms depend on documentation and revenue evidence.

9. What documents should I have ready before requesting vehicle finance quotes?
Prepare recent business bank statements, director ID and proof of address, vehicle quotations or dealer details, licence information (PHV/taxi/PSV), and any contracts or accounts to speed up offers.

10. Is UK Business Loans a lender, and do you charge for matching me with vehicle finance providers?
No — UK Business Loans is a free introducer that matches you to regulated lenders and brokers (we do not lend or give regulated financial advice), and your enquiry is only used to find suitable partners.