Discussion
I'm having some, erm 'maintainence issues' with part of my Taxi fleet at the moment 
Anyone involved in Asset finance? Can't afford to buy newer cars outright as it will hurt the cashflow too much. Probably looking at about £12k to get a couple more Skoda Octavia's. I need reliable cars to double shift them.
Can anyone give me any pointers on this? Not keen on leasing, unless it's a very 'normal' deal. As soon as the word Taxi is used the costs go through the roof. No problem with keeping for 5 years odd or quicker replacement schedules if thats more cost effective.
Help!
Anyone involved in Asset finance? Can't afford to buy newer cars outright as it will hurt the cashflow too much. Probably looking at about £12k to get a couple more Skoda Octavia's. I need reliable cars to double shift them.
Can anyone give me any pointers on this? Not keen on leasing, unless it's a very 'normal' deal. As soon as the word Taxi is used the costs go through the roof. No problem with keeping for 5 years odd or quicker replacement schedules if thats more cost effective.
Help!
KingRichard said:
I'm having some, erm 'maintainence issues' with part of my Taxi fleet at the moment
Anyone involved in Asset finance? Can't afford to buy newer cars outright as it will hurt the cashflow too much. Probably looking at about £12k to get a couple more Skoda Octavia's. I need reliable cars to double shift them.
Can anyone give me any pointers on this? Not keen on leasing, unless it's a very 'normal' deal. As soon as the word Taxi is used the costs go through the roof. No problem with keeping for 5 years odd or quicker replacement schedules if thats more cost effective.
Help!
Anyone involved in Asset finance? Can't afford to buy newer cars outright as it will hurt the cashflow too much. Probably looking at about £12k to get a couple more Skoda Octavia's. I need reliable cars to double shift them.
Can anyone give me any pointers on this? Not keen on leasing, unless it's a very 'normal' deal. As soon as the word Taxi is used the costs go through the roof. No problem with keeping for 5 years odd or quicker replacement schedules if thats more cost effective.
Help!
Subject to accountants advice (your tax position etc) it sounds like you need straight forward HP.
For you it would seem that this is the most flexible, allowing you to locate the vehicles yourself(from a dealer), keep them as long as you want and dispose of them (if problematic) at any time (subject to settlement).
You should get away with 10% deposit, balance over 24,36,48 months. Think about how the vehicles are likely to depreciate and attempt to keep the length of loan and the amount owed in line with the falling value of the vehicle so you don't get a negative equity situation should you be forced to change due to a vehicle being unreliable or written off.
HP companies, either via the dealer or direct, are falling over themselves to lend money at the moment so you should be able to get a very competative rate if you phone around.
Leasing, for your type of business will always be expensive, because the use the vehicles get draws all the residual out of the vehicle.
In essence my advice would be - keep it simple !
Edited by Egbert Nobacon on Tuesday 8th May 08:02
Edited by Egbert Nobacon on Tuesday 8th May 08:02
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