Taxi Driver Online

What a fantastic quality of life these people must have.

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Grandad,

100 hours

Nope, it's the most they can get some mug to pay for it.

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

I know a guy paying £250 a week for a new Pug E7 thing on a birmingham PH circuit, I think it includes insurance but it is a purchase, after 4 years its his vehicle, if it lasts 4 years, the base owns it till then

after 4 years he will have handed over £52,000

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Of all the things ive lost, i miss my mind the most

I wonder if the base owner has a credit license?

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Grandad,

im not so sure i mean obviously they will try to charge what they can but i think the minimum they could take and it still be worth doing is quite high like i said our base owner sold his because he couldnt make it worth his while at 210 per week a and he had a lot of decent drivers who have been with him for years,mainly the insurance,repairs and fact that cars have to be replaced more frequently is hitting everyone

even the few solo people i know who rent out cars full time charge 150 just to make a slight profit,ive known them years and dont drive for them so they have no reason to lie and then the driver pays rent on top of that which comes to around 230+

to what end, if the driver packs in and walks away hes lost the lot, why would he kick off? i might ask the guy

its the biggest PH circuit in Brum, also got 52 seaters and everything down to cars....about 30 slots on an O-licence

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Of all the things ive lost, i miss my mind the most

how does that work does he maintain it and pay rent on top of the money he pays,if not that sounds fair enough as he would be leasing it as i do but then he would just get given a car for nothing after 4 years

They word it so one isn't needed.

Basically, I suspect, it's being sold for £52,000 interest free.

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IDFIMH

More likely it's being rented for 4 years and sold at the end for a token payment.

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

You need a license to provide credit. The amount of interest charged is irrelivent.

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Grandad,

You don't need a licence to rent something to someone or to agree to sell it at a future date for an agreed sum.

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

I think you will find that you do need a consumer credit license to rent goods to people.

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Grandad,

I stand corrected

http://www.oft.gov.uk/OFTwork/credit-li ... R59UvKNZw0

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

Offering credit to consumers
Offering consumer credit can be an effective way to boost sales. But under the Consumer Credit Act, most businesses that offer consumer credit must have a consumer credit licence. If you offer consumer credit, you’ll also need to ensure that your credit agreements are legal and enforceable.

Consumer credit licences
Your business is likely to need a consumer credit licence if you sell on credit to individual consumers (as opposed to business customers) or hire out goods to them for more than three months. This also applies for business customers who are sole traders or small partnerships. You do not generally need a consumer credit licence to offer credit to limited companies, or for business sales which are always worth more than £25,000.

You do not need a consumer credit licence to accept payment by credit card (unless you issue the card yourself). You can allow customers to pay in four or fewer instalments, within a year, without needing a consumer credit licence.

If you need a consumer credit licence, you apply to the Office of Fair Trading (OFT) and pay a fee. The OFT can reject your application if they think you are not a ‘fit person’ to hold a consumer credit licence - for example, if you have a record of treating customers unfairly.

Offering consumer credit without a consumer credit licence is a criminal offence. As well as facing a fine or even imprisonment, any credit agreement will be unenforceable.

Consumer credit terms
If you offer consumer credit, you must give customers a credit agreement to sign. The credit agreement must give detailed information about terms such as interest rates, credit charges and so on. Unless the customer signs the credit agreement on your business premises at the time, there is a cooling off period during which they can cancel it.

There are no set limits on what interest rates you can charge, but an unfair agreement will be unenforceable. You may want to take advice on how you can use the consumer credit agreement to protect your business - for example, by retaining legal ownership of goods until they have been fully paid for.

Other requirements of the Consumer Credit Act include providing statements to customers with outstanding balances, and notifying them if they fall behind with their payments. Customers must also be allowed to repay any debt early, generally without paying future interest charges.

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Grandad,