Mike Bailey, CAVA Finance 0161 222 9599
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. 




At the end of October Mike attendee the Bury FC Legends Vs Bury All Stars match at Radcliffe Borough. Mike was delighted to meet his 1970s hero, striker Derek Spence, pictured below.

Derek Spence

It’s been a tough time of late with the incredibly disappointing news that Bury have been expelled from the English Football League after not being able to secure new ownership before the deadline.

Despite this and the impact it’s had on not just Bury fans but Bury as a town, suffering loss of business on match days for example, we wanted to focus on the positives that have come out of a terrible situation.

The match on the 20th of October was superbly organised by 3 Bury fans and saw both ex/retired players together on the pitch. There were over 2000 people in the crowd, all loyal fans. There was an auction following the match, giving fans the chance to bid on players shirts in order to support funding for the Phoenix club. The match raised over £20K, take a look at the video here to get a taste of the atmosphere on the day.

Despite the Phoenix club not yet being launched due to uncertainty around the future of the club, people are still showing their support.

There’s a huge sense of community spirit still, with pubs in the area committed to showing highlights of past matches and providing a place for regular match goers to meet as they usually would, providing income for the pubs that would have been lost. Mike recently featured in a news piece by ITV Granada Reports about this, you can take a look here.

There’s even a pop up exhibition being organised for the 23rd and 24th of November called We Are Bury, featuring memorabilia and kit. We’ve been keeping up with the latest news around the club on the @BuryXI twitter page so if you’re as big a fan as Mike is, get following!


News, Taxis

Earlier this year it was announced that new incentives were being introduced for taxi drivers, resulting in Electric Taxis being exempt from higher tax rates in order to promote the use of zero emission capable vehicles.


The Shadow Business Secretary, Rebecca Long-Bailey also recently announced that a Labour government would invest £5.8 billion into the UK’s automotive industry in a bid to accelerate the shift to EVs.

The proposal has been welcomed by those in the industry who feel this acknowledges the important role which fleets play in helping the UK to reach it’s zero emissions goal.


The Government has already backed a Euro 6 conversion scheme which will see NOx emissions reduced in major cities.

What are Euro 6 Standards?

The Euro 6 Standards were introduced back in 2015 and relate to environmental pollution caused by exhaust emissions. The issues lie in aging vehicles which produce more pollutants.


In an effort to reduce these emissions, standards have been introduced for manufacturers which mean they are required to meet these standards in order to sell their vehicles.


NOx is a pollutant caused by fuels such as petrol and diesel, there are limits in place as part of the Euro 6 standard. The older the vehicle and the higher the NOx levels, the higher the costs in terms of road tax.


We have previously looked into the ULEZ (Ultra Low Emissions Zone) which places daily charges on vehicles entering the zone, which are the highest pollutants, in a similar way to the congestion charge. Whilst taxis are exempt from the charges, as of this year all new taxis are required to be zero emission capable. From October 2021 we’ll see an expansion of ULEZs to more UK cities outside of the Capital. 



How are cars tested for emissions?

The tests are designed to reflect real world driving, with new tests being brought in last year. These focus on fuel economy and emissions, these tests are carried out on real roads as opposed to labs to ensure the tests are as reflective of real life as possible.


Taxis are at present, responsible for around 25% of NOx and are on their way to being the biggest source of transport pollution in London by next year.


There are however plenty of options for taxi companies looking to expand their fleets in a more environmentally friendly way. Companies such as LEVC are pathing the way for greener taxi manufacturing. They join Nissan as one of the world’s few purpose built electric and hybrid taxi manufacturers.


Not only will switching to electric vehicles be better for our environment but there’s now more and more charging points being installed across the UK which is helping to reduce fuel costs.


If you’re part of a taxi or private hire company and are looking to the future, CAVA can assist. We have access to a range of funders who are experienced in finance for both Hybrid and Electric Vehicles. Contact us on 0161 222 9599 to discuss further.



The cricket might be over for the season but Mike’s still getting his sporting fix. He recently travelled to Wentworth Golf Club in Surrey to spectate at the 5-day BMW PGA Tournament.


Wentworth is one of the most prestigious golf courses in the world, surrounded by mansions and with a rich history stemming from its founding in 1922.


Mike and his partner Jane attended the Pro-Am day which saw a host of the world’s top, pro golfers and a group of well-known sports people and celebrities take part.


None other than Ronan Keating had the honour of meeting CAVA’s finest when his golf ball rolled over to Mike’s feet. Ronan asked for the ball to be kicked back over to him and in true Mike Bailey fashion, Mike responded with “Play it from where it lands!”


The weather was glorious, and the surroundings were even better. Mike also enjoyed seeing the amateurs miss occasionally, as it gave him hope for his own future amateur golfing career…

Take a look at some of the famous faces below!



Records released by highways England show that a huge number of breakdowns occurred in the financial year 2018/19. 224,225 breakdowns were recorded which sees an increase of a fifth in just two years.


Why are we seeing more breakdowns? Well, the average age of cars is increasing. Back in 2003 the average age of a vehicle was 6.8 years old, rising to 7.8 by 2015 and as of last year 8.2. As we know, with old age comes a few health implications!


Traffic volumes have been ruled out as a cause of increased breakdowns as figures have remained steady in recent years with minor increases, indicating that vehicle age is the root cause.


Figures were provided to Auto Express and they’ve reported that in the last two years breakdowns have increased by 14.8% compared to 2017/18.


Despite Highways England only being responsible for 2% of England’s roads, which amounts to 4,300 miles worth, a third of the country’s traffic is carried just on these roads.


In 2018, July and August were the busiest months for breakdowns as families headed on to summer getaways and weekend breaks.


CAVA agrees with the AA’s head of roads policy, Jack Cousens who says: “Breaking down on a motorway can be a frightening experience, so spending a few minutes before you set off checking your car over could make all the difference.”


This is further backed by the RAC’s Simon Williams; “These figures serve to highlight the importance of carrying out checks before setting off. A lot of breakdowns are entirely avoidable if drivers check oil and coolant are at the right levels, and ensure all tyres are inflated properly and have sufficient tread.”


Do you have any journeys planned over the coming months? Don’t forget to make simple checks before you set off to help prevent a breakdown. If you find you are breaking down, then perhaps it’s time to give CAVA a call on 0161 222 9599 and look at a new vehicle that can get you from A to B without the hassle?



“UK car production declines for 12th month”


“Nissan confirms plan to cut 12,500 jobs globally”


“Brexit: UK car production plunges”


That’s just a snippet of the headlines we’ve all become far too familiar with over the last few months. This blog isn’t politically motivated but aims to discuss openly the proposed (and current) impact of Brexit uncertainty on the UK Vehicle production and finance industries.


Of course, for CAVA, if there’s a drop in vehicle production, we want to know about it as it will potentially impact our business too, in a ripple effect.


Where does the industry currently stand?


Well, May saw the 12th month of decline in the British car production industry with a drop of 15.5%. Production has dropped by around a fifth since the start of the year.


We’ve seen several major factories close or cut budgets and jobs, including Nissan who recently announced a cut of 12,500 jobs globally, with 7000 workers based in the car maker’s plant in Sunderland.


UK new car registrations declined in June by 4.9% and the reasons behind this have been linked by many reporting in the auto industry as being due to a lack of consumer confidence.


Now this doesn’t mean that people aren’t confident in the vehicles, but the economy. It could be seen as a risk to commit to a purchase of a new vehicle when the economy is in a state of flux. It is understandable that in a time of financial uncertainty that businesses and consumers are avoiding and delaying financial decisions such as a new vehicle.


What does the future hold?


We’ve already reported recently that the future is very bright for electric vehicles. Despite Brexit talk having dominated the news since 2016, yes it really has been that long, there is hope.


The last couple of years has seen upheaval for the automotive industry, relating back to our headlines above, but there’s also been a huge focus on the industry’s impact on the environment. New legislation relating to vehicle testing and regulations are due to come into force in 2021, with an aim to reduce the environmental impact that vehicles cause, with a crackdown on emissions in particular.


This relates back to a previous CAVA blog on the impact of emissions charges on taxis and the impact on the taxi industry, with a decline in registrations over the last few years, however growth is expected to resume by 2023.


With various articles flittering about regarding the state of the UK vehicle industry, it is refreshing to see that British talent is still up there, holding significant impact and influence in the industry. This is again highlighted by Mike Hawes, boss of the Society of Motor Manufacturers and Traders. He’s written to our recently appointed new prime minister to highlight the strength of the car industry.


Again this relates back to the electrification of our vehicles, noted by Hawes as a “dramatic and exciting change”

When discussing the impact of Brexit on the automotive industry, which contributes £18.6 billion to the UK economy, Hawes commented;

“The UK sector remains strong, with high levels of productivity, a skilled and flexible workforce and first-rate research and engineering facilities, so we are well placed to take advantage of the opportunities that emerge.” 


He did stress the need to “make the UK the most attractive destination for investors, creating an internationally competitive business environment and developing skills in new digital technologies”

“Above all, we must ensure the sector continues to enjoy – without interruption – preferential trade with critical markets around the world, including the EU.”

Would you look at purchasing a new vehicle in the current climate?



Call us old fashioned but here at CAVA we don’t think anything can beat good old snail mail. Unless it’s your Birthday often do you receive something in the post that isn’t a bill or junk mail?


Of course, email is quicker and cheaper. And it is a means for us to keep in touch with our customers and share our news. Whilst we do send out emails, we have taken note from Royal Mail who found in a study that 57% of customers who receive something directly from a company feel more valued than if they received an email. Which is why we like to add the personal touch and have done since CAVA was first established.


Which is why every CAVA customer, both new and current, receives a hand-written thank you card for every single new deal. There’ll be a few clients who will have quite a collection of cards now!


We’re very grateful to all of our customers and are very happy to report that May was a record month for CAVA. Over 75% of business during May was with repeat customers, people we enjoy working with again and again.


The finance deals we’ve secured for our customers this last month show what an expert Mike is in his field, with all of our niche services being utilised by our clients for both business and personal use.


We helped secure finance for;


  • 6 minibuses
  • 4 vans
  • 2 coaches
  • 2 taxis
  • 1 commercial vehicle
  • 1 car


Do you have any vehicle requirements, whether that’s for an expansion of your business in a few months’ time or something more immediate? Don’t hesitate to contact Mike on 0161 222 9599 for advice and a competitive deal.



As you may know, I am a huge Bury FC supporter. I do like to mix business with pleasure and it’s always interesting to share sports related blogs and see what our followers think too.


Gigg Lane is currently in crisis, with Shakers fans of all ages meeting recently at the Elizabethan Suite, Bury Town Hall, chaired by Dave Giffard of Forever Bury, and James Frith, Labour MP for Bury North.


Fans were asked to vote of the best way forward to try and save the 134-year-old Bury Football Club from liquidation and remove owner Steve Dale.


Earlier in June the support for the club grew following an encouragement to join Forever Bury, the FC supporters trust, in a bid to help save the club. Commenting on the growing support, which has doubled since the rally, Giffard said “We are growing. The response has been phenomenal.”


In regard to the options currently available for the future of the club, fans were asked to vote on the below;


  1. A prospective new buyer takes over ownership of the club from Dale, and clears all of the club debts, estimated to be around £8 million

  2. The club is placed into Administration, which effectively means that Dale loses control of the club. The Administrators will take over control of the club and will be tasked with trying to find a new buyer, albeit at a “knock down” price.

  3. Do nothing, and the club faces liquidation.

Options 1 and 2 were given the green light by the fans, however option 2 is by far the most likely to happen. Giffard let those of us who attended the meeting know that plans are underway to convince Capital Bridge, the club’s main creditor, to submit the administration application.


The club returns to the High Court next Wednesday so we will have to see if this plan will be successful.



Cast your mind back a few years or so and hybrid and electric vehicles were still relatively uncommon, despite Toyota mass producing the Prius hybrid back in 1997.

Despite its success in increasing the profile of the electric vehicle, it’s only in the last five years that hybrids and fully electric vehicles have become more accessible. Battery costs were extortionate when these vehicles first emerged commercially but around 2013 we saw decreases in costs, opening up the market to more consumers.


A recent report from Bloomberg New Energy Finance has estimated that by 2040 electric vehicles dominate the market. It’s predicted that more than 80% of sales of new buses and around 60% of sales of light commercial vehicles will be for electric options by 2040.


With regards to personal vehicles the statistics were slightly lower but still a huge increase, with an estimated 50% of passenger vehicle sales predicted to be electric by 2030. Of course, it will take time to reach these figures but looking back even just two years to 2017, the world’s fleet of electric vehicles grew 54% (around 3.1Million vehicles) from 2016 to 2017.


What is causing the rise?

In line with a growing concern for the environment and the future of the planet if we continue to drain it of its fossil fuel resources, electric vehicles have increased in both popularity and demand.


More and more manufacturers now offer electric or hybrid alternatives and this has seen an increase of high profile companies pledging to make use of these vehicles for their fleets. EVs are not only better for the environment but they can help to save money, with low to zero road tax and zero fuel costs.


This wasn’t always the case, particularly in the motor finance industry. A few years ago, finance companies wouldn’t touch electric vehicles and it was difficult to gain approval for a finance application.


The reason being, at the time this market was new and unknown. No one had experience in financing these kinds of vehicles, there was concern over future residual values and it was difficult to predict if they were financially viable.


Flash-forward 8 years and its now common practice and is increasingly accessible for drivers of all kinds of vehicles, not just personal. Insurance companies have also caught up with the trend, whilst EVs still fall into a higher insurance bracket due to a lack of historical data, there are specialist providers who can offer more tailored policies.


There’s also Government grants available on new electric taxis, vans or cars depending on certain criteria, along with a ‘homecharge’ scheme which provides a contribution towards the installation of charging points at home.

Following originally publishing our blog, we spoke with Neil Cadd of Chadderton Motor Company Limited to gain his insight into the direction of the EV industry;


“The EV world is ever changing with new ideas and technologies emerging on a daily basis. I now work with a manufacturer who specialise in commercial vehicles and are considered market leaders in this field as we are market ready with the latest technology.


I’m not advocating a mass switch to EV’s as they aren’t right for every business nor will they be for many years due to how commercial vehicle operators work, but for those in the last mile delivery sector, local authorities, local tradesmen then yes, they can be the future and can save companies money.


Many customers I visit are curious as to whether it is for them or not and for some it is feasible to change some of their fleet.


Capital cost is the main prohibitor to customers who are changing their vehicles. However, with the right guidance regarding choice of vehicle, the right guidance on funding, and the company themselves having the right mindset then a commercial EV can be the right choice for any business.”     

It’s a big change but within the next ten years, electric vehicles are set to overtake traditional vehicles. If you’re considering a new vehicle and want to find out more about electrical options, please don’t hesitate to get in touch an I can introduce you to a trusted supplier and assist with finance requirements.


Over the weekend we celebrated CAVA Finance’s 8th Birthday!

We have just about recovered and have had some time to reflect on the journey over the last eight years. It’s full of great memories, brilliant customers and suppliers and we are looking forward to what comes next.

It all started back in 2011. With over thirty years of experience in the finance industry, Mike set out to provide a full suite of finance products to business users as an independent finance broker and CAVA Finance was created.

We wanted to share some of the highlights from CAVA’s history so let us take you on a journey!

Where would we be without our clients?

A special mention is needed for three of CAVA’s first customers, Greenfingers Landscapes Ltd, CAS Products Ltd and HCS Group Ltd. We are proud to say that we still work with all three clients today, eight years on!

Who we work with

It’s not just our customers who have a special place in CAVA’s history, but our two main trusted suppliers. We’ve worked with Clive Knight Commercials and David Fishwick Minibus Sales for a long time now, ever since Mike took persistence to a new level. The outcome? A long-standing business relationship that we hope continues for years to come.

A Solid Deal

As you know, we specialise in several areas of vehicle finance and do also finance assets from printers to landscaping equipment. During our time we’ve been asked to help secure finance on some more unusual products. One standout deal would have to be a Putzmeister Concrete Pump which we financed Sprayed Concrete Solutions Ltd, in Southport. It was a large piece of equipment costing £52,000+VAT! 


What’s in a name?

CAVA wasn’t ‘Christened’ with a name until July 2011. After trying to come up with something suitable, Mike had a 3AM brainwave whilst driving on the way back from the airport. Despite what you might think, it’s got nothing to do with a love for the fizzy stuff. CAVA is actually an acronym for Car and Van, put it together and you’ve got, CAVA!

Building a Brand

If you worked with us in the early days then you might still have a vintage CAVA car air freshener. Or perhaps you recall Mike sporting our CAVA polo shirt which we had made a year after starting out, in 2012, followed by the jacket Mike is modelling below. Since then we’ve seen the website undergo a makeover in 2017, both to modernise and improve the way customers can get in touch with us.

Staying Social


As with many businesses nowadays, social media is a must have. We’ve been on the social scene for years now, so if you’ve not yet followed us, then do so on Twitter or Facebook and don’t forget to connect with Mike on LinkedIn!

A good sport!

If you keep up with our latest news, you’ll know that Mike Bailey is an avid fan of most sports, but particularly Golf, Cricket and Football. Mike took some time to celebrate CAVA’s Birthday a little early, attending the last couple of Bury FC matches and watching the team earn their promotion! Back in 2012 CAVA arranged finance for and sponsored the Bury Youth Team’s new mini bus too, which you can see here

It’s a done deal

We’ve been around for a while now and we’ve had a look back through at our hard work over the years. Since CAVA Finance started, we’ve secured 750 deals for our customers. We are firm believers in customer service which is probably why 65% of our customers return to us again and again. 

Thanks for taking the time to read our Birthday blog! If there’s anything you’d like to know about CAVA that we’ve not mentioned then don’t hesitate to get in touch.