Getting a vehicle that you are going to use for business purposes – for example, a minicab or taxi – may involve issues that are slightly different than purchasing a car for private use. However, at BuggyDough it isn’t a problem since we can offer taxi car finance to you.
All credit circumstances are considered by us, whether you have poor, good, or excellent credit history or even if are currently in a debt management plan, have a discharged bankruptcy, or have CCJs. When financing a taxi, it is beneficial to have a deposit available.
If your credit record history is good, and you have a steady income, then it most likely will not be a problem to arrange financing – and we might be able to secure for you a very competitive rate on that borrowing cost.
If you own a business already, or have worked as a self-employed taxi driver, but your credit rating is bad (or you don’t have a credit rating), we might still be able to assist you since we work with several lenders that specialise in providing people with bad credit with financing.
To resolve this issue, most likely you will need to provide proof of the evidence that you receive currently – either employer pay slips if you drive for a taxi companies or at least three months worth of bank statement copies if you are a self-employed taxi driver.
If you are wanting to get a business set up as a taxi driver and don’t have a record of income received from the work, we might ask that you get a relative or friend (who has good credit history) to serve as a guarantor for your finance.