Loan for a private hire taxi driver?

Toby_Sanchez

Hello everyone, wonder if you can help.

I'm a private hire driver from Scotland and would like to arrange a loan in order to buy my own vehicle as I'm paying too much to rent the one I'm using. I contacted my bank and they said no because I wanted the loan (£5000) over 1 year and do not have enough money coming in each month to repay it comfortably. This situation would of course change as soon as I'm not paying £250 per week on rent for the current car!

Are there any other private hire drivers out there who have faced a similar predicament or found a taxi driver friendly company? I'm not keen to buy on Hire purchase as it I would end up paying too much for a very limited choice of cars.

Kind regards,

Toby

enjoyincubus

Can't you just put it over 2-3 years (or what ever the bank feel you can afford), save up the difference in a savings account and then settle the loan early?

Kavanne

Get a loan that allows overpayments with no penalty. You can then take it over a longer term and make overpayments to clear it in 12 months but the bank is happy with your affordability!

ParanoidPlanner

are you off your head mate???????

£250 per week rent!!!!!!!!!!!!!.

ive just finished doing p hire in glasgow over christmas. hired a car as well £150 which is wayyyyyy to expensive.

the taxi centre is the place to go to get yourself sorted out mate?

think its thetaxicentre.com or summit like that. im back to my usual job now. but pm me if you want any other info or a contact at the taxi centre.

cheers