Mike Bailey, CAVA Finance 0161 222 9599
Contact Mike, Hints & Tips, Minibus/Coach Finance, News
Globally we are facing a time of great uncertainty, the impacts of which are being felt across all industries.

In view of these unprecedented circumstances, we wanted to reassure our clients that our funders will work with our you to take your individual circumstances into consideration, if your business has been impacted by the Coronavirus.

From the shutting down of vehicle manufacturing factories to the impact closer to home for coach, minibus and taxi operators, the automotive industry is facing economic shockwaves caused by the reaction to the virus.

This is a particularly tough time for those who rely on customers travelling, with self-isolation or even mass quarantines being introduced, taxi and coach operators are seeing a loss of bookings, with staff being prevented from travelling or customers putting holiday plans on hold.

As mentioned above, funders are treating each case individually but may be able to assist with ‘finance holidays’ to ease the financial strain of a loss of custom during this time.

I will be offering free advice to clients with concerns or difficulties. If you would benefit from this, you should contact me here and we can discuss in more detail.

Similarly, if you have any specific queries relating to your contracts or future vehicle and asset purchasing needs, which you feel may be impacted by Coronavirus, please let me know.

Please get in touch with me should you need any more information.

Hints & Tips

Choosing the right vehicle can be a tough decision for your business. There’s a lot of factors to consider depending on your trade but what can be even more difficult is deciding how best to approach the purchase.

Do you opt for finance? How will this impact your cashflow? Is it a good investment? When it comes to finance options for both vehicles or assets for your business, there are several options for you to choose from.

CAVA has many years of experience in helping both established businesses and new starts navigate the minefield of business finance. Over the years we’ve developed trusted relationships with a range of dealers and finance providers, allowing us to access the most competitive deals available to our clients.

Once you’ve decided on your vehicle or have a specification in mind, you can speak with us and we can introduce you to the dealers we work most frequently with, or perhaps you’ve already sourced your vehicle. In which case, it’s time to discuss the basics.

What you’ll need to tell us;

– Budget

– Repayment terms

– Is it a new vehicle or a used vehicle?

– Full UK/EU driving licence

We’re going to focus on using a Hire Purchase as this is commonly used by businesses looking for a new vehicle or asset on finance. Hire Purchase refers to a credit agreement which is used to purchase a new vehicle or asset, whether that’s a taxi, coach, minibus or commercial vehicle or a piece of equipment or machinery. 

You’ll enter into a fixed term agreement, whereby you’ll pay an initial deposit, then monthly payments over a pre-determined length of time.  The payments are fixed, even if interest rates fluctuate. However, you do have the option to pay in full prior to the end of the agreement.  So, why would this be a suitable option for you?



– The customer gets outright ownership of the goods at the end of the contract

– Ability to spread the cost over pre-arranged period

– Nominal deposit required for cars generally or a VAT deposit required for commercial vehicles and assets

– Allows the customer to opt for a higher specification of vehicle or asset than they may be able to afford outright

– Fixed monthly costs

– No large final payment

– No mileage restrictions


– A larger deposit may be required (depending on customer credit status)

– The finance company legally owns the vehicle until the final payment has been made on the agreement

– Interest rates may depend on the credit status of the client

There you have it, a quick guide to the options available to you when considering your next vehicle or asset purchase.  If you’d like any further information on the options above or need some advice around what might be most suitable for you then please don’t hesitate to get in touch.


Hints & Tips, News

As a specialist in finance for New Start companies, CAVA wanted to share some tips with those who might be looking to finance a vehicle or asset for their new business.


How do you know if you are a new start business?


This is usually down to the discretion of the funder. Some funders will view a company as a new start for up to a year but others may view this as 1-3 years so there’s no hard or fast rule that defines a business as a new start when it comes to securing finance.


Why can it be more difficult to secure finance as a new start?


Generally this comes down to financials and experience. Previous experience in your particular industry is an important factor. If you’re starting a new business which is in an industry you’ve never worked in, you may not have an existing customer base and as such your company is more “risky” to offer finance to than an established one.


Secondly, company financials are what a finance company would consider when working with a client. If you’re a new start, financial information will be limited. However, credit scores are also taken into consideration here and it’s not impossible to secure finance as a new start business, CAVA are experts in this area and have built up great connections with lenders.


What else might I need to be aware of when sourcing finance as a new start?


Our biggest piece of advice is to do your research! Know your numbers, know what you need to borrow, how much can you comfortably afford? Don’t overstretch yourself, be sensible with your first purchase. 


This one might seem obvious, but you’ll need to be able to prove your identity and place of residence.

CAVA have helped many new start companies to secure finance, including KP Cabs (Cornwall) Ltd, A&A Travel (Sussex) Limited and Bryants Travel Ltd, all of whom have worked with CAVA for many years now.

Don’t hesitate to get in touch if you’re a new start company looking for assistance with competitive finance. 



Executive, Hints & Tips, News, Prestige

The UK has seen a sharp increase in those seeking loans or finance for new vehicles. Personal Contract Purchase plans (PCP) allow drivers to acquire a new vehicle on an agreed length of time. Once the plan period is over, you can either trade in the vehicle or pay off the remaining loan on the vehicle and keep it.


The Financial Times reported that “British households borrowed a record £31.6bn in 2016 to purchase cars, up 12 per cent on the year before, according to the Finance and Leasing Association.”


The popularity of vehicle finance was further highlighted by 85% of new vehicle purchases throughout 2016, being made through a dealership or finance provider.


PCP is the most popular finance option, it’s simple to understand and can be flexible depending on your needs, relating to monthly repayments for example.


PCP is for personal finance only. At CAVA we have helped several business owners with the purchase of their personal vehicles. Husband and wife, Brian and Heather Boys are a perfect example of one of CAVA’s long standing PCP customers.


“My wife and I have been using CAVA Finance for over 12 years on all of our cars, which we both replace every 3 years. CAVA understand our needs as a customer due to the experience and knowledge Mike Bailey displays each time, which you don’t get from your local car showroom.


Every time I am asked to recommend a PCP/Leasing company to use, I have no hesitation in saying CAVA.”


CAVA have an attractive PCP Product available and are often more competitive than motor dealers. Contact us before you sign at a dealer to see what your options are, you’ll be glad you did!


Keep up to date with the latest news from CAVA Finance by following us on Twitter.


Have you watched much telly recently? If you have you might have seen David Fishwick on his current TV show on Channel 4, How to Get Rich Quick. You might also remember back in June we posted a video about CAVA’s new joint venture with the well-known North West Businessman!

Until now, CAVA has generally helped prime customers but our business relationship with David’s company, Burnley Savings and Loans means that we are now able to consider finance offerings for ‘near prime’ businesses, including new starts or companies who appear weaker on the balance sheet.

If you are considering Finance for a vehicle or asset for your company, call CAVA on 0161 222 9599 and we’ll be happy to discuss with you.


Hints & Tips, News
Let CAVA take the stress away from purchasing your next vehicle.

Whether it’s a detailed conversation you need or just a bit of guidance, Mike will ensure he provides the best advice possible.

At CAVA we see many customers opting for a late model, with low mileage, and affordable monthly re-payments. As a reputable broker, and with good working relationships with other suppliers, CAVA can do all the work for you.

Once CAVA understands the needs of the customer we can begin to find the right vehicle and at a competitive finance rate.

Mike will then complete all the necessary paperwork for you, so the only thing you have to do, dependent on the supplier, is come and collect your new vehicle!

Through our trusted suppliers CAVA can arrange delivery of the vehicle directly to you if required.

How can you help the finance process? It is worth having some form of criteria in mind when you are thinking of purchasing a vehicle through finance. Think about:

What is the vehicle needed for?
What type/size of vehicle is needed?
What is your monthly budget for re-payments?
Do you need a specific make, design or colour?

There’s a couple of documents you will need to provide before CAVA can go ahead and find you the best deal so be sure to have these available:

Our completed application form
Recent bank statements
Recent utility bill
Copy of your driving license

Whether it is finance for personal vehicles, coach/taxi finance, van or mini bus finance, CAVA can provide competitive finance rates for you. For more information contact Mike Bailey on 07736 549357 or via email: [email protected]

Hints & Tips, News

Who would have thought that defrosting car windows could land you with a fine?! As temperatures have plummeted over the last few weeks, those of us making the morning commute to work are taking the necessary steps to ensure our vehicles are frost free. 

However, many motorists remain unaware that rushing to defrost your car whilst trying to do a million and one other things to get ready for the day, could result in a fine. Not the best start to a morning!

Leaving your vehicle unattended whilst you have the engine on in an attempt to speed up the process of defrosting car windows, is actually breaking the law and has seen residents handed fines over the last few weeks as the cold weather creeps in. Rushing to remove frost, ice and snow could also see you cause damage to your vehicle, patience is a virtue after all!

It is an offence to leave your vehicle running, whilst unattended on a public highway. Even if you’re nipping in the house for a second, ensure you have switched off the engine and locked your doors. You are also leaving yourself open to car theft and invalidated insurance if you leave the vehicle open and unattended.

AA employee, Ian Crowder shares his warning to motorists; “Cold weather is a car thief’s friend and the security of the car is only as strong as the security of your keys… If you put your keys in the car and then walk away from the vehicle you cannot expect your insurance to pay out. You have a duty of care to not behave in an idiotic manner which puts your property at risk.”

Defrosting car windows doesn’t have to be a chore, use the vehicle’s air conditioning system to circulate the warm air and heat the windows from the inside. Don’t be tempted to pour boiling water on your windscreen, you don’t want any cracked glass! Lastly if there is heavy frost or snow, make sure you’ve removed all of this, even from the roof of the car.

Whilst driving with snow on your roof isn’t an offence, the Highway Code states that in adverse weather conditions you must ensure that you can see out of every window panel in your vehicle. If you’re driving with snow on your roof, as it begins to melt this could slide down and cover your windscreen, reducing your visibility and safety.

Last winter we put together our best tips for keeping your vehicle roadworthy and safe during the harsher weather conditions. Winterproof your journey with our checklist, which you can see here.



Hints & Tips, News

Aside from sourcing competitive finance rates for you, we also like to keep in the loop about the latest industry news, from new technology to changes in our traffic laws.

We found this question was quite a conversation starter, what is the best way to fix a flat tyre? Is it a good old fashioned spare tyre you’d prefer or a handy, portable repair kit?

Around 9 out of 10 new cars are sold without a spare tyre, something I think many of us wouldn’t consider a necessity when a repair kit can act as an adequate replacement. However, it’s reassuring to know you have a spare, replacing the issue entirely rather than smoothing it over.

What are the pros and cons?

Do you know how to change a tyre? There’s the first con, if you’ve never learned how to swiftly remove the punctured tyre and replace it with your spare then you’re likely to favour a repair kit.

Why don’t spares come as standard? Well space is a major factor, with some cars barely having a boot, let alone space for a wheel!

Will a repair kit save me time? According to Continental, a leading tyre manufacturer, a repair kit can keep you on the road for almost 400 miles and is a reliable fix for four out of five punctures.

What are the other options?

There are several different types of tyres you could opt for if you’re concerned about a puncture and being left at the roadside.

Runflats are designed to be self supporting, they’re a good option as they don’t use air pressure to support the vehicle once punctured so you don’t need to change the wheel!

Space savers are designed to do just that, a smaller, thinner tyre that can be used as a spare but taking up a fraction of the space. However, you’ll still need to change the wheel and will have a limited speed to stick to.

Self-sealing tyres are supposedly the future of overcoming a puncture, with an air proof layer sealing in the puncture. As you’d imagine they aren’t the cheapest option.

We found that many of our customers would prefer to change the tyre and be on their way, what do you think? Is there something in the peace of mind knowing you’ve changed the tyre yourself and replaced the cause of the issue or is a repair kit just too convenient and cost effective?