Spread the cost of taxis and private hire vehicles from £15,000 to £70,000+ with flexible finance options. HP, lease, or refinance
Yes, taxis 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 £15,000 to £70,000, and most deals are written over 12–60 months with a deposit of around 10–20%. Decisions typically take 24 hours. Used machines are financeable too, usually with a shorter term.
Typical Cost
£15k – £70k
Approval Speed
24 hours
Same-day for experienced drivers
Rates From
5.0% APR
Your estimate
Indicative only. Not a quote and not an offer of finance.
Pre-filled with a typical taxi price. Indicative only, not a quote.
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For UK limited companies with 3+ months’ trading and monthly revenue.
On a purchase price of £35,000: a 10% deposit of £3,500, then 48 monthly payments of £738 at 5.9% APR representative (fixed). Total amount payable £38,924, 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 |
|---|---|---|
| LEVC TX Electric Taxi | £55,000 – £65,000 | Black Cab (Electric) |
| Toyota Prius (PHV) | £28,000 – £35,000 | Hybrid Private Hire |
| Mercedes V-Class | £45,000 – £60,000 | Executive MPV |
| Volkswagen ID.4 (PHV) | £35,000 – £45,000 | Electric Private Hire |
Explore business funding options through Fundably
For UK limited companies with 3+ months’ trading and monthly revenue.
Taxis and private hire vehicles qualify for Annual Investment Allowance (AIA). An electric or zero CO2 emission car bought new and unused before April 2027 qualifies instead for 100% first-year allowances, writing the full cost off against taxable profits in the year of purchase. Lease payments are deductible against profits. Confirm the treatment with your accountant, since it turns on whether the vehicle counts as a car and on it being new and unused.
Taxis and private hire vehicles are bought by owner-drivers and private hire fleet operators, ranging from a single driver buying their own vehicle to an operator running many cars or minibuses under one operating licence. Finance is the standard route for owner-drivers because the vehicle is both their livelihood and often their largest personal asset, and a lease or hire purchase agreement lets repayments be met from daily fares rather than requiring savings upfront. Replacement is driven by mileage, licensing plate condition requirements and rising maintenance costs, since taxis cover far more miles a year than an ordinary car. A strong used market exists for ex-fleet taxis.
Some specialist lenders consider businesses with imperfect credit histories. You may need a larger deposit or personal guarantee, but options may be available. Fundably may use a soft credit check for matching, which does not affect your credit score. A hard check may happen if you choose to proceed with a lender.
Explore business funding options through Fundably.
For UK limited companies with 3+ months’ trading and monthly revenue.
Explore business funding options through Fundably.
Check Eligibility →For UK limited companies with at least 3 months’ trading and monthly revenue.