Electric is the smart choice for
Private Hire Vehicle drivers
Explore how to finance the cash deposit for your new ride-hailing EV, and get behind the wheel of your new car quicker.
Electric is the smart choice for
Explore how to finance the cash deposit for your new ride-hailing EV, and get behind the wheel of your new car quicker.
Private Hire Vehicle drivers
Why switch to an EV?
Massive running cost savings, more rides and higher reviews, all while helping the planet.
Congestion Charge exempt
saving up to £5,475 per year
ULEZ exempt
saving up to £4,562 per year
Huge fuel cost reduction
saving £2000 per year for 20,000 miles
Government grants
saving up to £2,500
No road tax
saving £155 per year
100% environmentally friendly
and feeling awesome!
The cash deposit problem for PHV drivers financing a new EV
Financing a new Electric Vehicle as a PHV driver can be challenging.
1
Financing requires a cash deposit
82% of new cars in the UK are bought using financing arrangements such as PCP, which require a cash deposit and then three years' of cash payments plus interest.
2
PHV drivers needs larger up-front cash deposits
Typically, PHV drivers have to pay large cash deposits up-front due to the high mileage and wear-and-tear commonly associated with private hire vehicles. This large up-front cash need prevents many drivers from upgrading.
3
Personal loans to finance cash deposits often require long, unblemished credit histories
Many people choose to take a personal loan to finance the cash deposit. Unfortunately, the best personal loan deals are often reserved for people with unblemished and long credit histories; meanwhile, those with thinner files or a bad credit rating will generally find it harder to qualify for an affordable loan.
If you are thinking of buying an electric vehicle on finance and you would like a personal loan for the cash deposit, get in touch with Fintern.

Fintern realises you are more than your credit score. They look at your bank account data to verify your income and outgoings, and get an accurate picture of how affordable a given loan is for you.
The monthly cost of a new EV for a PHV driver

We've put together a few indicative examples of the monthly cost for a new EV, based on a car popular with FreeNow drivers
* Please contact the dealer for a personalised quote, including terms and conditions. Quote is subject to dealer requirements, including status and availability. Illustrations include lease and personal contract hire prices.
Eligibility to apply
All loans are subject to status and eligibility
Been a PHV driver for at least 6 months
No unresolved CCJs or defaults
Minimum weekly income of £500
CHECK MY ELIGIBILITY
EV Cash Deposit Loans up to £7,500 for PHV drivers up to 3 years
How much would you like to borrow?
1000
7500
How many months would you like to borrow for?
1
36
Do you have a valid private hire vehicle (PHV) license?
How many months have you been a PHV driver?
How much do earn each week driving?
First Name
Your Last Name
Date of Birth
Email
Phone number
Flat Number
House Name
Street Number
Street Name
City/Town
Post Code
Months at Address
*Your details will be used for a "soft credit search" which you can see but lenders can't. Your chance of approval will be based on this search and the information provided below. This will not affect your credit score.
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