Switched on Taxis Loan

Interest-free loans of up to £150,000 are available to help owners and operators of hackney cabs (purpose-built taxis) or private hire taxis to replace their current vehicle with an eligible ultra low emission vehicle.

Limited companies are eligible for up to £150,000 of loan support, and sole traders or partnerships are eligible for up to £75,000 of loan support.

Hackney (purpose-built taxi) drivers only

The maximum loan amount you can receive is £75,000 for sole traders and £150,000 for limited companies. The vehicle can cost more than the maximum loan amount, but you would have to cover any excess cost yourself. 

Private hire drivers only

The maximum loan you can receive to purchase one electric car is £30,000, or £35,000 for one electric van. The vehicle must cost £50,000 or less.

You can apply for loans to purchase multiple vehicles up to the maximum loan amounts of £75,000 for sole traders and £150,000 for limited companies.  

To be eligible, applicants must meet the following criteria:

Hackney (purpose-built taxi) drivers only

The vehicle must be eligible for the Office for Zero Emission Vehicles (OZEV)’s plug-in grant. See full details of eligible vehicles on the GOV.UK site, external link which will open in a new window.

You must have owned your current vehicle for at least 6 months before you apply to replace it.

Private hire taxi drivers only

The vehicle purchased with the loan must cost less than £50,000.

There are no application fees and the loans are interest-free. 

Owners and operators of hackney cabs or private hire taxis looking to replace their current vehicle with an ultra low emission vehicle.

If you’re a private-hire driver, you’ll need the following information when you apply: 

• your fleet review or the vehicle comparison report provided by your sustainable transport coordinator - this will be provided after you make an enquiry
• quote(s) for the vehicle(s) you plan to purchase with the loan

If you’re a hackney cab driver, you’ll need the following information when you apply: 

• your V5 registration certificate – all pages will be needed
• quote(s) for the vehicle(s) you plan to purchase with the loan

You’ll also need:

• your most recent tax documents (SA103/SA100, SA800), if you’re applying as a sole trader or partnership
• your most recent full year of financial accounts, if you’re requesting £75,000 or more of funding
• your confirmation that you won’t purchase the vehicle(s) before you receive a loan offer - if you do, Energy Saving Trust won't be able to accept your application

Visit the Energy Saving Trust website for more information and to fill out an online business enquiry form.