What finance options are available for taxi and PCO vehicles?

We provide a full range of finance solutions including hire purchase, lease purchase, asset finance, and personal contract purchase. Our experts will recommend the most suitable taxi finance package for your business.

What is Personal Contract Purchase (PCP) and what are its benefits?

PCP offers lower fixed monthly payments and greater flexibility at the end of the agreement. You can choose to return the car, buy it with a final balloon payment, or part-exchange it using any equity you’ve built up. PCP agreements also include annual mileage limits, which could incur additional charges if exceeded. PCP is suitable if you’re unsure whether you’ll buy the vehicle at the end.

How do I choose the right finance plan for my taxi business?

Here’s a quick guide on which finance plan is right for your taxi business: Hire Purchase (HP) – Best if you intend to own the vehicle at the end. Personal Contract Purchase (PCP) – Suitable if you’re undecided about buying at the end. Lease Finance – Ideal if you won’t be purchasing the vehicle. Asset Finance – Perfect for financing multiple vehicles at once.

Tailored Taxi Car Finance for UK Drivers

Replacing your taxi, funding an LEVC or adding a private hire vehicle? Ethos helps drivers and operators explore finance for new and used vehicles, from individual purchases to fleet requirements.

As a credit broker, we work with a panel of lenders and consider your vehicle, intended use and business circumstances when exploring the available options.

Tell us what you’re looking to fund and when you’re hoping to proceed.

Call our team on 01423 608666 or enquire today.

Discuss taxi finance

How Finance Works For Taxi And Private Hire Operators

Your vehicle needs to support your working day, and the finance agreement needs to reflect how you intend to use it.

Our team will discuss your requirements before exploring options through our lender panel. Relevant details include:

The vehicle and its purchase price
Your available deposit or contribution
Your expected annual mileage and working use
Your preferred repayment period
Your individual or business circumstances

Before you enter into an agreement, we’ll explain the relevant repayments, interest, charges, total amount payable and any final payment. This helps you understand the commitment before deciding whether to proceed.

Finance Options For Your Working Vehicle

Finance can spread the cost of purchasing a vehicle, but the repayment structure needs to suit your business and intended use.

Spread the cost over an agreed term. Ownership transfers to you once all required payments and any option-to-purchase fee have been paid.

Part of the cost may be deferred to a larger final payment. This can reduce regular repayments compared with an otherwise equivalent arrangement without that deferral. The final balance remains payable and should form part of your budget and replacement plans.

Other options may be available depending on the vehicle, proposed use and lender criteria. Any agreement needs to permit your intended taxi or private hire work and accommodate the relevant mileage requirements.

Choosing a repayment structure

Look beyond the monthly payment. Consider your initial contribution, total amount payable, any final balance and what happens when the agreement ends. We’ll explain the features and costs of the options available for your proposal.

How To Get Started

1. Tell us about the vehicle you need

Share your chosen vehicle or the type you’re considering, together with your intended work, expected mileage and purchase timescale. You can contact us before settling on a specific vehicle.

2. Discuss your funding requirements

We’ll talk through your circumstances, budget and plans before exploring suitable options through our panel of lenders.

3. Provide the application information

If you wish to proceed, we’ll explain which personal or business details and supporting documents are required.

4. Review any offer and decide

If a lender offers finance, we’ll explain the terms, repayments and relevant costs. If you choose to proceed, the agreement can be completed once the outstanding lender requirements have been met.

What To Consider Before Choosing Taxi Finance

Think about how the vehicle and repayments will fit your business:

Deposit and budget: What contribution can you make, and what ongoing commitment can your business support?
Overall cost: Consider interest, charges, total amount payable and any final payment.
Ownership: Do you intend to keep the vehicle or replace it at the end of the agreement?
Mileage: What annual distance do you expect to cover?
Working use: Will the vehicle be used for taxi work, private hire, personal journeys or a combination?
Replacement plans: How long do you expect the vehicle to remain suitable for your work?

Choosing a vehicle for long shifts involves more than comparing its price and mileage. Driver comfort, passenger access, luggage space and servicing requirements all affect how well it performs as a working vehicle. Read what high-mileage taxi and private hire operators should look for.

Licensing And Permitted Use

Before committing to a vehicle, confirm that it meets the requirements of your licensing authority. Tell us about its intended use so the relevant lender conditions can also be checked.

Maintenance And Running Costs

Budget for servicing, repairs, insurance, licensing, fuel or charging alongside the finance payments. Maintenance may be available with some arrangements, but check exactly what is included rather than assuming these costs are covered.

Considering an electric taxi or private hire vehicle? Think about where and when you would charge, the journeys you regularly complete and how charging stops could affect paid work. Read our article on planning the move to electric.

Taxi, PCO & LEVC Finance – FAQs

Taxi and PCO vehicle finance allows drivers and operators to spread the cost of their vehicle over a fixed term. With affordable monthly payments, you can keep cash flow steady while accessing the latest licensed models for work.

We offer finance for black cabs, Private Hire Vehicles (PHVs), and low-emission taxis such as the London Electric Vehicle Company (LEVC) models. Both new and used taxis qualify for our funding options.

Yes. Ethos Finance specialises in electric taxi finance, including LEVC taxi funding. We provide flexible payment options to help drivers switch to low-emission and ULEZ-compliant vehicles.

We provide a full range of finance solutions including hire purchase and lease purchase. Our experts will recommend the most suitable taxi finance package for your business.

Both options are available. Whether you’re a single driver financing one taxi or a private hire company looking to expand a full fleet, we create funding solutions to meet your needs.

With years of experience in taxi and PCO finance, we understand the unique challenges of the industry. As an FCA-regulated broker, Ethos Finance offers competitive rates, tailored advice, and transparent support for drivers and operators across the UK.

The best taxi car finance option depends on your individual circumstances and business needs. In the UK, four main finance options are available: Hire Purchase (HP), Personal Contract Purchase (PCP), Lease Finance, and Asset Finance. Each offers different benefits depending on whether you want to own the vehicle, manage cash flow, or finance multiple cars.

Hire Purchase lets you finance a vehicle through fixed monthly payments over an agreed term. At the end of the agreement, the car is yours to keep, and the final payment is generally lower than other finance options. HP often comes with no mileage restrictions, giving you more freedom compared to other plans. It’s ideal if you plan to own the vehicle outright.

Lease Finance is ideal if you don’t plan to own the vehicle. Monthly payments often include maintenance, allowing you to cover most running costs with a single payment - excluding fuel and insurance. Essentially, you’re renting the car. The main drawback is that you won’t have the option to purchase the vehicle outright or build equity.

Asset Finance is a customised funding solution for taxi businesses that want to acquire multiple vehicles at once. It offers a more personalised approach than standard PCP or HP plans, allowing you to structure repayments and terms to suit your fleet size and cash flow. It’s perfect for businesses looking to scale their operations efficiently.

Here’s a quick guide on which finance plan is right for your taxi business:

Hire Purchase (HP) – Best if you intend to own the vehicle at the end.
Lease Finance – Ideal if you won’t be purchasing the vehicle.
Asset Finance – Perfect for financing multiple vehicles at once.

Discuss Your Next Taxi Or Private Hire Vehicle

Whether you’re replacing one vehicle or planning a fleet purchase, tell us what you need, your approximate budget and when you’re looking to proceed.

Our team will review your requirements and explain the next steps.

Ethos is an FCA-authorised and regulated credit broker, not a lender.

Discuss taxi finance

Why Businesses Choose Ethos

Ethos is an independently owned Asset Finance company which operates across the UK.

Agricultural

Chauffeur

Van, Bus & Coach

Taxi & Private Hire

Plant & Machinery

Prestige

Contract Hire

Other Funding

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Tailored Taxi Car Finance for UK Drivers

How Finance Works For Taxi And Private Hire Operators

Finance Options For Your Working Vehicle

Hire Purchase (HP)

Lease Purchase

Other arrangements

Choosing a repayment structure

How To Get Started

What To Consider Before Choosing Taxi Finance

Licensing And Permitted Use

Maintenance And Running Costs

Taxi, PCO & LEVC Finance – FAQs

How does taxi and PCO finance work?

What types of vehicles can I finance with taxi, PCO, or LEVC finance?

Can I finance electric taxis like the LEVC TX?

What finance options are available for taxi and PCO vehicles?

Can I finance one taxi or an entire fleet of PHVs?

Why choose Ethos Finance for taxi and PCO vehicle funding?

What are the best options for taxi car finance in the UK?

What is Hire Purchase (HP) and what are its benefits?

What is Lease Finance and what are its benefits?

What is Asset Finance and what are its benefits?

How do I choose the right finance plan for my taxi business?

Discuss Your Next Taxi Or Private Hire Vehicle

Why Businesses Choose Ethos

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