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Octopus Group
No fixed repayments - only pay for the miles you drive (minimum mileage applies)
Lower fuel & maintenance costs
Own the new LEVC TX from day one - no balloon payment
Sharia compliant financing
‘Pay as you use’ helps keeps your expenses low while maximising your earnings
Choose from a range of warranties and servicing packages
Get a free home charger if you switch to our fairly priced green electricity partner Octopus Energy (subject to a minimum term)
Split the costs and share your cab with another licenced driver
All our finance is Sharia-compliant
No maximum mileage restrictions. The more you drive, the quicker the loan is repaid.
Our pay-per-mile pricing means that you only pay when you are using your taxi. This gives you the flexibility to take a holiday without having the weight of a scheduled payment on your shoulders.
Our pricing calculator creates a personalised quote for your estimated weekly payment, and the savings that you are likely to make on the fuel costs of your existing vehicle.
Please be advised that our quotes are flexible, and we are able to adjust the contracted mileage and target contract duration to best suit your circumstances.
Packages Available
We offer different warranty and service plan options for your new electric vehicle, as well as a free 1-year RAC roadside assistance plan and a free 1-year WiFi subscription.
Warranty:
All packages include a 5-year / unlimited mileage battery warranty.
Servicing:
In order to generate a personalised quote for the associated costs and savings of your new electric taxi, we asked you for some details about both your current vehicle, and your preferences for your new vehicle.
As our financing packages are usage-based (i.e. you pay per mile that you drive), we combine the details relating to your usage (e.g. weekly mileage) with a ‘price per mile’ that is created based on your chosen preferences. This allows us to estimate the personalised costs outlined in your quote.
In terms of the savings, we compare the efficiency of your current vehicle with your new electric vehicle to estimate how much less you’ll spend on fuel for the mileage you cover per week.
It is worth noting that drivers operating in certain urban areas (e.g. central London) may benefit from further savings due to their avoidance of emissions charges typically levelled at older, petrol-diesel powered vehicles. We are happy to explain this to you in more detail over email (taxi@octopusgroup.com) if you would like to learn more.
For more detailed information, please visit the official LEVC website.
Thanks a lot for responding to our email. We'll aim to call you in the next 24 hours to discuss your quote further.
We won't attempt to call you to discuss your quote, but we'll keep you informed via our mailing list unless you unsubscribe through the link at the bottom of our emails.
Who can I ring to find out more?
You can call us on 07849 084045 between 9am - 6pm from Monday to Friday, or alternatively text us at any time and we'll get back to you as soon as possible.
Is there a deposit?
Yes. Our deposits vary from £2,000 to £25,000 depending on what best suits your needs. Get in touch to find out more!
Is there a balloon payment at the end of the contract?
No.
Is a home charger included?
Yes; if the driver switches their home energy supply to our fairly priced green electricity partner Octopus Energy, we will include a free charger with the taxi. (This is subject to the home remaining with Octopus Energy for at least 24 months, or the charger may need to be returned).
But, what if I don't have a driveway?
Don't worry! We are working with technology partners to provide on-street charging solutions. Contact us to find out more.
Can the driver generate income from advertising?
Yes.
Who owns the vehicle at the start of the contract?
The driver.
Who owns the vehicle at the end of the contract?
The driver.
Is there a minimum mileage required?
Yes, the driver must meet a minimum level of mileage every 6 months from the start of the loan. If not, they will be charged as if they had driven the minimum mileage (with the corresponding mileage deducted from their outstanding miles under contract).
How long does the contract last for?
The contract is for a tailored mileage, therefore it depends on how many miles you drive per year.
For example, if you average 25,000 miles per year and you choose to repay your loan over 150,000 miles, the minimum 6-month mileage is 10,500 miles, which would take just over 7 years to pay back. This duration is tailored to how you use your vehicle.
What kind of warranties and servicing do you offer?
We provide a range of warranties, servicing and road side assistance packages to choose from.
Is this financing Sharia compliant?
Yes, we have full approval by the Islamic Council of Europe. Further details are available on request.
Who are Octopus?
We started out in 2000 as an investment company, but today we do so much more. We make things, we build things, we scare the life out complacent businesses and we shake up sectors crying out for disruption. We are the largest non-utility owner of onshore renewable energy generation in the UK, and the largest owner of solar generation in Europe. Our award-winning energy supply business is growing rapidly, with more than 500,000 customers, and is the only supplier recommended by Which? in 2018 and 2019. Find out more about Octopus.
What does Octopus get out of this?
Octopus makes a return over time by supporting the provision of the loan to the driver. We also get to promote our work with renewable energy generation and supply.
Ubiquitous
Ubiquitous are the largest taxi advertising company in the UK, enabling drivers to earn extra income from their vehicle. Visit their website here.
LTDA
The Licensed Taxi Drivers’ Association provides legal support, tax advice and sickness & accident cover to its 15,000 members. It is proud to support the UK’s transition to cleaner, greener vehicles. Visit their website here.
LEVC
We have partnered with the zero emission capable taxi manufacturer, LEVC, to provide a flexible ownership option for the new LEVC TX. Visit their website here.
Octopus Energy
Octopus Energy are our 100% green energy supply business, committed to fair pricing, forever, and noted for their exceptional customer service.
What is the OTR pricing of the LEVC TX with/without the different service and warranty options before any interest is applied?
The three LEVC TX models would cost the following amounts exclusive of interest:
TX Vista |
TX Vista Comfort |
TX Vista Comfort Plus |
|
Standard Warranty |
|||
| without service plan | £57,099 | £58,399 | £59,699 |
| with service plan | £59,427 | £60,727 | £62,027 |
Extended Warranty |
|||
| without service plan | £57,748 | £59,048 | £60,348 |
| with service plan | £60,076 | £61,376 | £62,676 |
Extended Plus Warranty |
|||
| without service plan | £58,098 | £59,398 | £60,698 |
| with service plan | £60,426 | £61,726 | £63,026 |
