Taxi Finance
We are a credit broker, not a lender
Welcome to Cabvision Taxi Finance
- Finance for self-employed London taxi drivers: buying a cab, upgrading, or refinancing the balloon (final) payment on an existing hire purchase agreement.
- We are a credit broker, not a lender. We introduce you to a carefully selected group of specialist lenders who understand the taxi trade, rather than the high-street banks.
- We are authorised and regulated by the Financial Conduct Authority (FRN 1044702).
Why borrowing £25,001 or more is often easier
Business loans to sole traders of £25,001 and above fall outside the Consumer Credit Act’s regulated regime when taken wholly or mainly for business purposes. More lenders work in this space, so these applications are typically quicker to arrange and can offer more flexible terms. Loans of £25,000 or less are regulated, and fewer lenders offer them.
Regulated vs unregulated lending
| Regulated | Unregulated | |
|---|---|---|
| Typical case | £25,000 or less to a sole trader or small partnership | Over £25,000, wholly or mainly for your business |
| Governing law | Consumer Credit Act 1974 | Business purposes exemption (RAO Art. 60C) |
| Your protections | Pre-contract information, 14-day withdrawal right, voluntary termination rights, access to the Financial Ombudsman | Fewer statutory protections; the contract terms govern |
| What you sign | Standard regulated agreement | Business-purpose declaration plus the lender’s agreement |
Before signing an unregulated agreement you will be asked to declare that it is for your business; you lose some Consumer Credit Act protections by doing so. If unsure, seek independent advice. More: FCA – borrowing.
Please read the following "Key Points" before applying:
- Already a Cabvision card payments customer? There is no application fee, and with your permission we can use your card payment history with us to support your application.
- For new customers an application fee of £250 (VAT exempt) is payable when you apply. It is refunded in full if your application succeeds and you take out the finance. It is not refundable if your application is declined or you decide not to proceed.
- We receive a commission from the lender, calculated as a percentage of the amount you borrow. We will tell you the amount before you sign.
- All finance is subject to status, affordability and a credit check by the lender.
- Your vehicle may be repossessed if you do not keep up repayments.
- We do not sell warranties, GAP or other add-on products.
What you will need
- Original Purchase Invoice or Current Finance Agreement
- 3 months bank statements, this will be used as Proof of Address
- Proof of Address i.e. utility bill (dated within 3 months) if bank statements are unavailable
Terms & Conditions Apply
To apply, or to find out what we can do for you, please complete the form using BLOCK CAPITAL LETTERS.