Spread the cost of private hire vehicles from £22,000 to £48,000+ with flexible finance options. HP, PCP, or lease – compare rates from 40+ lenders.
Yes, private hire vehicles are financed as a standard asset purchase, usually on hire purchase or a lease, with the machine itself acting as the security. UK prices typically run £22,000 to £48,000, and most deals are written over 24–60 months with a deposit of around 10–15%. Decisions typically take 24–48 hours. Used machines are financeable too, usually with a shorter term.
Typical Cost
£22k – £48k
Approval Speed
24–48 hours
Same-day for < £40k
Rates From
5.0% APR
Your estimate
Indicative only. Not a quote and not an offer of finance.
Pre-filled with a typical private hire vehicle price. Indicative only, not a quote.
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Check EligibilityOn a purchase price of £30,000: a 10% deposit of £3,000, then 48 monthly payments of £633 at 5.9% APR representative (fixed). Total amount payable £33,384, including the deposit. The rate you are offered depends on your business and the asset.
Guide prices for sizing a finance agreement, not quotes. Manufacturers in this market mostly price on application, so where a current UK list price could not be confirmed the row describes a specification class rather than naming a model. Your supplier quote is what the agreement is written against.
| Machine or specification | Guide price | Type |
|---|---|---|
| Toyota Corolla Hybrid | £24,000 – £30,000 | Saloon PHV |
| Skoda Octavia | £26,000 – £34,000 | Estate/Saloon PHV |
| Volkswagen Sharan/Ford Galaxy | £30,000 – £40,000 | MPV for 6+ Passengers |
| LEVC TX | £38,000 – £46,000 | Wheelchair-Accessible Electric PHV |
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Check EligibilityA private hire vehicle is a car for tax purposes, so it doesn't qualify for the Annual Investment Allowance; instead, capital allowances depend on the car's CO2 emissions, with the best rates reserved for zero and very low-emission models. HMRC does carry a specific VAT exception for cars used mainly as taxis or private hire vehicles, self-drive hire cars, or driving instruction cars: unlike an ordinary company car, VAT on the purchase or lease of a qualifying PHV can normally be recovered in full rather than blocked. If you run the car through a limited company and also use it privately, a benefit-in-kind charge is likely to apply; sole traders instead have their allowances and running costs restricted in proportion to any private mileage.
Private hire vehicles are bought by self-employed PHV and minicab drivers and by private hire operators building a fleet, typically choosing a saloon, estate, or hybrid for fuel economy and reliability over the high daily mileage the work involves. Most drivers finance rather than buy outright because the car needs to be earning from day one, and a large upfront payment competes directly with income. Replacement cycles tend to be shorter than for a typical private car owner, driven by local authority PHV licensing conditions on vehicle age as well as by mileage and wear from near-constant use.
Several of our 200+ lenders specialise in businesses with imperfect credit histories. You may need a larger deposit or personal guarantee, but options exist. Checking your options here does not affect your credit score, because we do not run a credit search to match you. A lender will run their own checks only if you decide to apply.
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Check EligibilityCompare rates from 200+ lenders. No credit check.
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