Mike Bailey, CAVA Finance 0161 222 9599
Assets, Contact Mike, Hints & Tips, News

As a business owner you’re likely keeping your ear to the ground surrounding the available support to help you and your company survive during the Covid-19 outbreak.

The government have announced details of the CBILS which is a new scheme which facilitates a range of Business Finance products. These are available to small businesses across the UK who are experiencing a loss of revenue and as a result have had their cashflow impacted by Coronavirus.

The scheme allows banks and lenders with a Government backed guarantee, which allows these companies to provide Asset Finance in order to support businesses who are looking to invest in new or used assets.

Without the scheme it would be difficult for companies to raise the finance required at this time, due to the impact on their cashflow. The lenders will be able to accommodate funding for Asset Finance between £50K and £250K.

To briefly summarise the main areas of criteria are;

  • You must be a UK based business
  • The application is for business purposes, not for private individuals
  • You are not able to re-finance a product already on a finance agreement

There are other certain eligibility and criteria you should be aware of, I’ll be happy to discuss these with you and provide further details should you be looking to take advantage of the CBILS.

The scheme is managed by the British Bank and allows access to a range of business finance products through selected funders.

For further information and to discuss applying for the scheme, contact Mike on 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. 



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.


Minibus/Coach Finance, News
In the second part of our ͚Who CAVA works with feature, we͛re focusing on another excellent business relationship. This month we wanted to share the journey weve been on with David Fishwick. CAVA have been working with David Fishwick Minibus Sales since 2003.

It’s been 15 long years and they proudly hold the title as the UK’s largest supplier of minibuses, mini coaches and wheelchair accessible vehicles.

Whilst David might be the man behind the business, we work closely with his team, including Mark Barlow who is the Dealer Principal and Matthew Eames and Peter Hartley who form David’s excellent sales team. As with Clive Knight, Fishwick’s refer customers to me, providing me with the contact details and vehicle details for those who are seeking a competitive deal.


I speak to all customers directly, adding the CAVA personal touch and arrange the finance, which allows the David Fishwick sales team to concentrate on what they do best. We have recently started a new venture with David Fishwick in conjunction with his other company, Burnley Savings and Loans. This means we are now able to consider finance offerings for near prime businesses, including new starts or companies who appear weaker on the balance sheet.

Take a look below at what David Fishwick Minibus Sales have to say about working with CAVA Finance.

“Mike Bailey and the team at CAVA Finance provide an exceptional service to us and our customers, making an application for funding on both new & used vehicles a seamless part of the deal. A single call or email is all it takes to get the ball rolling; with Mike making initial contact with the customer, taking the required details, processing the required documentation and updating all parties concerned throughout the process with great efficiency. Our customers gain confidence in knowing that their application is being put to a series of lenders without bias in order to obtain the best deal, and consistently report their satisfaction on the simplicity of acquiring finance. Whilst we benefit massively from the associated reduction in workload which allows us to concentrate on what we do best, confident in the knowledge that everything is being handled in a professional and personable manner.”

Here’s to another 15 years if we’re not both retired by then!


Whatever the vehicle or asset the purchase doesn’t need to be done with one cash lump-sum. Fortunately, you can opt to pay for a car, van or coach, or asset, through more manageable payments over an agreed period of time.

Whether it’s new or used, a customer can purchase a vehicle or asset on finance and pay it off monthly. As an independent broker, we have access to a whole load of finance packages to meet the needs and requirements of every different customer. Most of our borrowers will be required to pay just a minimal deposit.

With a multitude of different options available, it’s important to do your homework before choosing a finance package. That’s where CAVA finance comes in – offering our expert knowledge and doing that homework for you!


Finance Options  

Hire purchase

One of the simplest and most popular forms of finance is hire purchase. Firstly you pick the vehicle or asset, secondly you agree the deposit (if one is required). Finally, you agree a fixed rate of interest for payments spread between 24 to 60 months meaning that repayments can be easily budgeted, and there is no risk of any interest rate increase.

 Hire Purchase with balloon (lease purchase)

Hire purchase with balloon is quite comparable to hire purchase, however the biggest difference is that a pre-agreed lump sum payment (usually called a “balloon”) is paid off at the end of your term. It’s at this point you are presented with four options; either purchase the vehicle/asset, refinance, part-exchange or sell. The biggest perk with this option is that lower monthly payments mean you could afford a vehicle with a much higher specification, or more expensive asset.

This completes our vehicle finance essential guide. Of course, there are other options, but this should be a good start to understanding what routes you could take to owning your desired vehicle or asset.


On the 11th May 2018 CAVA Finance will be celebrating it’s 7th birthday, and what a great 7 years it’s been!

Last year was particularly exciting for CAVA. We launched a brand-new website, which means we can now more easily share the testimonials, kindly written by our happy customers, demonstrating the quality services we’ve provided for their businesses.

CAVA also appeared in twice in Bus and Coach Buyer, the Bus and Coach industry’s longest running free magazine in the UK, to discuss the current finance market and thoughts on it’s future.

We didn’t just stop there either. We’ve recently teamed up with Burnley Savings and Loans Ltd, owned by well known North West businessman David Fishwick, to expand our product range. We are now able to offer the same bespoke services, quality, and care to ‘near prime’ businesses.

As for this year, we’ll keep doing what we’ve always done. No call centres, no automated quotes, just a purely personal approach, so that we can offer a bespoke service that is right for you!

CAVA 17 (1) There are two changes a year when it comes to new registration plates, the first takes place in March and will show that your vehicle was produced in the first part of 2017. The second change comes into action in September, with vehicles donning a ’67 plate to represent that they have been produced in the latter part of the year, up to February 2018. It hasn’t always been this way! There used to be one change a year but in 2001 the DVLA introduced a new system which saw two changes a year. What is the registration of a car for? As you’ll probably know, the registration is used as a means of identification. The first four digits of your registration link to a certain area and the vehicle’s age. The second part of your registration is to keep things simple and prevent duplication, distinguishing your vehicle to others produced in the same area and year. If you are interested in purchasing or financing a new vehicle then it can be useful to know how the number plate is made up, so you can find out how old the vehicle is. For example, a vehicle purchased in the first part of 2017, from March to August will show 17 on the plate. From September 2017 to February 2018 the registration shows the current year + 50, so from September this year vehicles will show 67 on their registration plates.   Is it worth the wait? If you’re looking to finance or purchase a new vehicle and want the latest number plate then you could arrange this with the dealer, so the vehicle is yours but won’t be registered until after the new plates are released. Looking for a bargain? Age is but a number, if you are after a slightly cheaper deal then now might be the time to look into finance as dealers often discount ‘old’ stock before new plates are due to be released. CAVA has a low finance rate deal on until the 30th of April which you could take advantage of now! Why go for a new car now? Dealers will be offering high costs, CAVA will more than likely be able to offer you lower rate! Our low rate finance offer will be available until the 30th of April so there’s still some time to find the right vehicle for you. From the 1st of March this year, you could trade up to a nice new model or add an addition to your business and benefit from a lower rate. The offer will be available for both new and used cars as well as light commercial vehicles. CAVA can offer more competitive rates than motor dealers and bank finance options!

  1. Wheels Private Hire Ltd, Leeds. We arranged finance for two more 2015 Toyota Auris’s for another long standing customer, Wheels Private Hire Ltd, Leeds. The cars were bought from Hertz.
  1. I Kan Transport Ltd returned to CAVA for the 4th time, and we arranged the finance for a 2016 Renault Master bought from Clive Knight Commercials. We look forward to continuing our good business relationship
  1. Richard Hinz, owner of Go 2 Minibuses in Essex was referred to us by EVM Crawley. We managed to arrange finance for the purchase of a 2010 Mercedes Sprinter 16 seat minibus. Richard was delighted with our service
  1. Paul Chadwick, a self employed joiner from Wilmslow, was also referred to CAVA by Clive Knight Commercials, to finance the purchase of his 2013 Ford Transit custom van
  1. Spalco Ltd , based in Manchester, were introduced to CAVA by Prevail Accountancy Ltd, Rochdale. They needed a new van, a 2016 Renault Master,  for their alcohol supply business. Even though they are a recently formed company, CAVA came up trumps. Directors Pawel Stegirski and Karolina Gladysz were over the moon to bet their new van..PHOTO ATTACHED
  1. Premier Airport Cars Ltd, Sheffield. Director Darron Armitage was referred to us by David Fishwick, to finance the purchase of a 2013 Mercedes Sprinter 17 seat minicoach. A straightforward deal for CAVA.
  1. Phil Roberts came back to CAVA to arrange finance for a 2nd vehicle, a 2012 Ford Mondeo purchased from Hawthorn Motors, Warrington
  1. Eversure Developments Ltd based in Manchester, were also introduced to CAVA by Prevail Accountancy Ltd, Rochdale. Directors Craig Jordan and Jason Gibbons needed a new van quickly, as one of their current vans had broken down. Eversure are a newly formed business, but this proved to be no problem for CAVA, and Eversure are now driving round in their new van, a 2013 Ford Transit, supplied by J&S Vans, Stockport.

December proved to be another great month for CAVA, with some unusual equipment to arrange finance for as well as plenty of referrals and returning customers.
  1. I Kan Transport Ltd, Bolton bought a 2015 Ford Transit from Clive Knight Commercials. This is the third vehicle we have financed for I Kan, and we look forward to continuing our good business relationship
  1. Current customers Little Bookham Manor House School, Leatherhead, Surrey came back to CAVA to arrange finance for a 2012 Ford Transit 17 seat minibus, again supplied by David Fishwick.
  1. SAB Logistics Ltd, Bolton were referred to CAVA by another customer, I Kan Transport Ltd.  SAB purchased a 2013 Renault Master van from Clive Knight Commercials, and CAVA were delighted to assist
  1. Long standing customer Greenfingers Landscape Ltd have been a customer of CAVA since 2011, and Director Lisa Higginbottom came back to us again to arrange the finance for the purchase of 2 new Saleen Viper shredding machines, bought from Gibsons Garden Maintenance Ltd, Colne, to help their business, and also a 2016 Audi A6, bought from Mike Brewer Motors, Sheffield .
  1. Yellow Cabs (North West) Ltd were introduced to us by Phil Weaver of Knickerbrook Cars Ltd, Chorley. They wanted to finance a 2012 Hyundai i-40 to add to their taxi fleet. This was no problem for CAVA, and we look forward to working with directors Andrew and Antony Price again
  1. Anthony Morawski Ltd T/A Thomas Moss. Another long standing customer, Tony came back to CAVA to arrange finance for him to buy a new Electrolux vegetable prepping machine from Wyreside Equipment Ltd, Preston. Unusual equipment, but CAVA were delighted to assist.

CAVA have been running a series of blogs on Taxi Finance, an element of finance which is renowned for being difficult to obtain, but not with CAVA Finance to guide you! This week we’re focusing on equipment, with the taxi industry being modernised rapidly with applications such as Karhoo and Uber, it’s important for local fleets to keep up with the demand to be as up to date, accessible and reliable as possible, all of which is helped by an up to date IT system. Not only does CAVA help to secure finance for your fleet with our taxi finance specialists, but we can also help to finance upgrades for your IT system. Recently we helped Phil and Lynne at Coopers Taxis of Chorley to upgrade from their old IT and phone system. With a large fleet to manage, or even if you operate a small local taxi company, the ease of an up to date system can benefit the business owner, driver and of course the customer. Modern taxi companies need to make themselves as desirable as possible, particularly if they are competing with other fleets in the area. Ensuring you have the best GPS, radio, booking and dispatch system, tracking ability and texting facility. This benefits both the booking office, to be able to track vehicles and assign new jobs to drivers once they reach a certain zone, it helps the driver to know what job to choose next and also keeps the customer informed. Financing high tech taxi software and accurate GPS systems can be very costly but with CAVA’s specialist Taxi Finance partners, we’ll find a deal to suit you.