Taxi and Private Hire Fleet Finance for a Minicab Operator
£210,000 · 4 years · 7.65% fixed. A minicab and private hire operator in a major UK city was replacing twelve aging diesel vehicles with hybrid models to meet the local authority's vehicle age and emission requirements for private hire licensing.
The Client
Minicab and private hire operator in a major UK city
The Challenge
A minicab and private hire operator in a major UK city was replacing twelve aging diesel vehicles with hybrid models to meet the local authority's vehicle age and emission requirements for private hire licensing. The twelve hybrid vehicles at £17,500 each needed to be financed efficiently as a fleet.
Our Solution
Doulton arranged fleet hire purchase for all twelve vehicles under a single agreement. The private hire operator licence - a regulated income stream with the local authority - was the primary income evidence. The hybrid vehicles attracted a modest green discount from the lender. All twelve vehicles were delivered from the same dealer simultaneously.
The Outcome
All twelve hybrid vehicles licensed and operational. Private hire licence renewed without issue. Fuel savings versus the old diesel fleet: approximately £14,000 per annum across the fleet. Driver satisfaction improved with the newer vehicles, reducing driver turnover. Key highlights: Private hire licence - regulated income stream used as lending basis; Green discount applied for hybrid vehicles; £14k annual fuel saving across fleet - driver retention improved.