Taxi Finance Question - Advice Much Appreciated

Just wanted to ask for advice for my brother really, he is 25 years old and is about to purchase a 2nd hand LTI TX2 taxi and is looking for finance. The cheapest he has is Tesco loans, borrowing 9,000 at 7.7%. Is the best deal for him to go for? He has a good credit score etc.

Is there anything else he needs to take into account? He has a quote for insurance already.


Hard to comment as you haven't said if it's a secured or unsecured loan etc, but the best place I've found for comparing loans is below:

He will need to factor in license costs from the Council and any specifics they have about the vehicle - some don't allow older cars to be granted a license.

Where is he ?
London is going to have a few probs as the power that be want only tx4 cabs onwards.
For the loan ask at local office or trade papers.

Original Poster

the council is birmingham, and the loan will be unsecured.
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