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| Looking for recommendations on taxi and plate finance http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=2&t=26778 |
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| Author: | Chaedinburgh [ Sat Apr 25, 2015 11:03 pm ] |
| Post subject: | Looking for recommendations on taxi and plate finance |
Hi I'm looking for recommendations to buy a Edinburgh black cab with plate Any know any company's or financial advisors best to see ? Any help would be great Thanks Cha |
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| Author: | Skull [ Sat Apr 25, 2015 11:07 pm ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
Chaedinburgh wrote: Hi I'm looking for recommendations to buy a Edinburgh black cab with plate Any know any company's or financial advisors best to see ? Any help would be great Thanks Cha http://www.petertrainer.co.uk/ Are you sure you know what you are doing?  Anyhoo good luck! 
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| Author: | Chaedinburgh [ Sat Apr 25, 2015 11:12 pm ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
He doesn't offer a finance package and recommends the Glasgow mob with very high apr rates |
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| Author: | Skull [ Sat Apr 25, 2015 11:20 pm ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
Chaedinburgh wrote: He doesn't offer a finance package and recommends the Glasgow mob with very high apr rates Yes. I think it's because the loans are unsecured and unregulated and if you fail on a couple of payments they recover the vehicle and plate and sell it on. You could be struggling unless you have a good down payment or maybe equity in property. I don't think the banks are keen to give business loans on taxi licences but I could be wrong. They prefer to make it a private loan with collateral in property for security. |
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| Author: | Skull [ Sat Apr 25, 2015 11:41 pm ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
If you don't have a serious cash deposit or a lot of equity in a property, it's the Glasgow mob for you mate. However, if you do, check with your business banking manager and submit a business plan and see if they can help? 
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| Author: | Private Reggie [ Sun Apr 26, 2015 12:21 am ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
Chaedinburgh wrote: Hi I'm looking for recommendations to buy a Edinburgh black cab with plate Any know any company's or financial advisors best to see ? Any help would be great Thanks Cha Plenty buyers have went through Glasgow, I know the guy in Question, he's a good guy with good intentions, from what I hear the finance is not that high but you will need a minimum of £5k, really it all depends on how much you want to buy in, no brainer if your long term 
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| Author: | Skull [ Sun Apr 26, 2015 12:28 am ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
Private Reggie wrote: Chaedinburgh wrote: Hi I'm looking for recommendations to buy a Edinburgh black cab with plate Any know any company's or financial advisors best to see ? Any help would be great Thanks Cha Plenty buyers have went through Glasgow, I know the guy in Question, he's a good guy with good intentions, from what I hear the finance is not that high but you will need a minimum of £5k, really it all depends on how much you want to buy in, no brainer if your long term Yeah but it is my understanding, that if you fu*k up with any loan repayments, your taxi and plate are gone, hence the unsecured unregulated loan part of the equation. They then flip the taxi and plate and the whole process starts again... and they are quids in. It can work for some people but it's not a loan I would want in today's economic climate. You have no way out and if everything turns to shi*, you lose the lot. 
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| Author: | Private Reggie [ Sun Apr 26, 2015 12:57 am ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
It works for most but there is a danger of recklessness by the investor, I give you that but there is nothing unique about fecking up an investment, you lose every time and no matter who owns the debt. |
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| Author: | Skull [ Sun Apr 26, 2015 1:06 am ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
Private Reggie wrote: It works for most but there is a danger of recklessness by the investor, I give you that but there is nothing unique about fecking up an investment, you lose every time and no matter who owns the debt. Bollocks!! That's not the case at all, you can always restructure your repayments with a secured loan, you have certain rights but the same can't be said with an unsecured unregulated loan. 
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| Author: | Chaedinburgh [ Sun Apr 26, 2015 1:02 pm ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
I'm just seeing if there are any other options or any other financial advisors that deal with this Thanks |
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| Author: | Private Reggie [ Sun Apr 26, 2015 1:24 pm ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
If you have a deposit of around 25% and 3 years accounts plus your credit history is good, a good business manager will give you what you want, if not then your only option is the guy in Glasgow, I know him and all he does is get you finance, you just need someone selling up, he doesn't have licences to sell, good luck though. |
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| Author: | Skull [ Sun Apr 26, 2015 2:13 pm ] |
| Post subject: | Re: Looking for recommendations on taxi and plate finance |
Private Reggie wrote: If you have a deposit of around 25% and 3 years accounts plus your credit history is good, a good business manager will give you what you want, if not then your only option is the guy in Glasgow, I know him and all he does is get you finance, you just need someone selling up, he doesn't have licences to sell, good luck though. That is very true Dougie. However, you decide to go down that route be fully aware of your rights, when taking out an unsecured unregulated loan because if anything goes wrong, they've got you by the bollocks.
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