Taxi and private hire

    Taxi and private hire vehicle finance

    Reviewed by Luca Scalzo, Director, WFYA Limited · Last reviewed

    Taxi finance spreads the cost of a licensed taxi or private hire vehicle over a fixed term, so an operator can put a vehicle on the road and pay for it from fares. It is usually arranged as hire purchase, where the business owns the vehicle at the end, or as a lease.

    We Finance Your Asset is a credit broker, not a lender. We introduce taxi and private hire finance applications from UK businesses to lenders on our panel.

    Who can apply for taxi and private hire finance?

    • Taxi and private hire operators building or replacing a fleet.
    • Drivers trading through their own limited company.
    • Executive and chauffeur businesses.

    How does taxi and private hire finance work?

    1. 01

      Apply online

      Tell us about your business, your licence and the vehicle in our application form.

    2. 02

      We review and approach lenders

      We check the details with you and introduce your application to lenders on our panel that finance taxi and private hire vehicles.

    3. 03

      Decision and payment

      If a lender approves, you sign the agreement with the lender and the lender pays the dealer.

    What can taxi and private hire finance cover?

    • Saloons, estates and MPVs used for private hire, including hybrid and electric models.
    • Purpose built and converted wheelchair accessible taxis.
    • Hackney carriages, subject to lender appetite.
    • Executive cars for chauffeur work: see also prestige car finance.
    • Several vehicles for an operator: see fleet finance.
    • Larger passenger vehicles: see minibus and coach finance.

    What documents do you need to apply for taxi and private hire finance?

    Our application form asks for the information lenders need first, so it helps to have it ready:

    • Your company name and Companies House number.
    • The director's contact details, date of birth and home address history.
    • Details of the asset: what it is, its price, the supplier and, for vehicles, the registration and mileage if known.
    • The deposit you plan to put in and the term you would like.
    • Your last three months of business bank statements, which you can upload with the form.

    Lenders may then ask for more, such as recent accounts, proof of identity or the supplier's invoice, depending on the amount and your business.

    How long does taxi and private hire finance take?

    It depends on the asset, the lender and how quickly the documents arrive. The lender then makes its own decision; straightforward applications with complete documents move fastest, while larger amounts, used or specialist assets and newer businesses can take longer.

    What deposit and term should you expect for taxi and private hire finance?

    Most agreements involve some upfront payment, and the amount depends on the lender, the asset and your business. Newer businesses, older or specialist assets and larger amounts may need a bigger deposit. Terms are usually set by the expected working life of the asset. We will tell you what the lenders on our panel ask for once we know your details. We do not quote interest rates on this website because the cost depends on your circumstances: see what affects the cost of asset finance.

    Sources

    Checked on 31 October 2026.

    Frequently asked questions

    Can I get finance for a taxi or private hire car?

    Yes. Lenders finance taxis and private hire vehicles for operators and limited companies. They will want to know how the vehicle will be licensed and used.

    Do I need a taxi or private hire licence before applying?

    Lenders usually want to see the driver's licence and the vehicle licence details, or evidence that a licence is being applied for with the local council. Have them ready when you apply.

    Can I finance an electric private hire vehicle?

    Yes. Electric and hybrid vehicles can be financed like any other. Check your licensing authority's rules on vehicle age and emissions before you choose.

    Can I finance a used taxi?

    Yes, within each lender's age and mileage limits. Licensing authorities often set their own maximum vehicle age too, so check both.

    Can a new taxi company get vehicle finance?

    It is possible, but lenders are more cautious with a short trading history. See our guide for new limited companies.

    Talk to us about your asset

    Tell us what you want to finance. Our team reviews every application and comes back to you.

    Start your application

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    We Finance Your Asset helps businesses grow by making asset financing simple and accessible. Working with multiple lenders to get you the best fit.

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    We Finance Your Asset is a trading name of WFYA Limited (company no. 13810779), registered office Wyvols Court, Basingstoke Road, Swallowfield, Reading RG7 1WY. WFYA Limited (FRN 1023831) is an appointed representative of ITC Compliance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 313486). We are a credit broker, not a lender. We work with a panel of lenders and are not independent. We may receive commission from the lender, which can vary by lender and product; we will tell you about it before you proceed. Finance is subject to status. Business finance for limited companies is not regulated by the Financial Conduct Authority.