Whether you’re an experienced driver looking for an upgrade or just want to become an Uber driver and you don’t have a car, there are a few options to own one. The most popular is PHV car finance, which, compared to car subscription, means locking yourself in for a fixed number of years at a pre-determined APR, depending on your credit rating.

However, popular doesn’t always mean the best. Splend is here to challenge PHV car finance and to offer a better, smarter way of owning a car, without sacrificing extra money or time.

Pricing is one of the most important criteria when choosing a car, apart from good service, and overall support. We also know it’s very tempting to consider PHV car finance offers just by looking at the weekly payment headline. Similar to buying a plane ticket, for example, you often find yourself paying a lot more than the initial “from” price.

Car finance is often more expensive. It only includes the basic – the car and a few other extras, but it doesn’t account for added running costs, like insurance, servicing, maintenance, or licencing, all of which are critical as an on-demand driver. This is where Splend comes in.

Why are Splend prices more affordable than PHV car finance?

Compared to car finance, the Flexi own plan is easy to understand, making car ownership affordable and worry-free. One clear weekly payment that includes all the essentials to keep you on the road, earning an income.

Our plans include everything needed by PHV driver. By us taking care of everything, it means you save both time and money.

How much can you really save with Splend?

Don’t take our word for it. Below is a data-based example for the MG ZS EV Long Range which shows you how much you can save weekly, but also by the end of your term contract, usually 4 years. We considered a near-prime credit rating and a 12% APR.

Weekly savings

  Traditional car finance Splend Flexi own
Car model MG ZS EV Long Range MG ZS EV Long Range
Car payment £187 included
Rideshare insurance £58 included
Servicing £13 included
Maintenance £6 included
All the essentials £8 included
Weekly payment £272 £269


Savings at the end of the contract (4 years)

  Traditional car finance Splend Flexi own
Car model MG ZS EV Long Range MG ZS EV Long Range
Car payment £38,738 included
Rideshare insurance £12,064 included
Servicing £2,704 included
Maintenance £1,248 included
All the essentials £1,664 included
Weekly payment £56,418 £55,952

The above comparison tables are for illustrative purposes only. We recommend all customers conduct their own research before purchasing. Below is a breakdown of the calculations used.

Total repayable – for each of the cars, the total repayable was calculated with no deposit at a 12% APR over a 48-month term with no balloon payment at the end
Purchase price – car purchase price as at of January 2023 taken from manufacturer’s websites and take into account the discount available on electric cars from the Government’s Plug-in Car Grant. 
Rideshare insurance – estimated pricing based on a 33-year-old male who has held a PCO licence for over 2 years, has made no claims in the last four years, based in South London with an estimated mileage of 36,000 annually.
Servicing – The estimated price of servicing in this example was calculated based on scheduled servicing to 100,000 miles as per each of the manufacturer’s guidelines.
Maintenance – The estimated price of maintenance based on the following replacement parts over a 4-year term: 10 replacement tyres, 4 replacement sets of front brake pads, 2 replacement sets of front brake discs, 1 replacement set of windscreen wiper blades.
All the essentials – The estimated price of the essentials includes car tax or Vehicle Excise Duty Annual tax required for all cars used on public roads. MOT (Ministry of Transport), annual check for safety, roadworthiness, and emissions. PHV (Private Hire Vehicle) licence, annual inspection required for all taxis and private hire cars.

Why choose Splend over PHV car finance?

We’re more than affordable prices. We’re also about flexibility, peace of mind, and dedicated support from day one, so you can do what you do best – drive.

The Flexi own plan comes packed with features and benefits, so all you have to worry about is thriving as an on-demand driver.

DYI car finance Splend Flexi own
Minimum contract 48 – 60 months 6 months
No large deposit
Holiday payment
Low credit score accepted
No impact to your credit score
High mileage means early ownership
Rideshare insurance
Scheduled servicing
Replacement parts
Annual PHV licence
Annual MOT car inspection
Replacement car in case of accident*
Dedicated support
Referral bonus
Customer benefits

*Subject to availability

About Splend

We’re PCO car subscription specialists enabling on-demand drivers to make money by driving. Our vision is a future where every on-demand driver can be successful.

We can set you up with a brand-new or new-model car, and provide the training and support you need to become a more profitable, safer, and fulfilled driver. Don’t take our word for it — Uber drivers rate us excellent on Trustpilot.

Make an appointment at our London Hub at 393 Edgware Road Cricklewood, Londonemail us, or say hello on 0333 016 4331