Friendly Finance

London's Largest PCO Family is now offering PCO car finance deals for PCO Drivers. Available for the latest electric PCO Cars in the market.

Banner Image

The Most Flexible Finance Around

We won't tie you into an expensive never-ending contract. Our flexible PCO car finance scheme puts you in the drivers seat. Get the perfect Uber car on your own terms.

Variable Downpayments

The more you put into it, the more you save on the total cost of your contract. We offer some of the most attractive PCO car finance deals on the latest electric PCO Cars.

No Frills & No Fuss

No credit checks. Pick the perfect PCO car, choose a car finance scheme that works for you, and drive away in your brand new set of wheels.

Your PCO Car, Your Way.

Here at Otto Car we recognise that not all PCO drivers are looking for an all-inclusive package. Some of you just want to find the perfect set of wheels on your own terms.

With Friendly Finance you’ll have the ability to pick a PCO car finance scheme that works for your situation.

The more you put into your downpayment, the more you’ll save. Check out our brand new electric PCO Cars below to find out how much you can save on your next Uber car!

Friendly Finance

Ownership on your own terms.

Join London's largest PCO family of 8000+ PCO drivers.

Our flexible PCO car finance scheme puts you firmly in the drivers seat.

Frequently Asked Questions

Friendly Finance Explained

What is Friendly Finance?

Friendly Finance is a no frills solution to PCO car ownership. Pick the PCO car you want, decide how much you want to pay into the downpayment and whether you want a balloon payment, and pay off your PCO car in weekly instalments based on this.

The bigger your down payment, the cheaper your weekly fees, and the more you save on the total cost of the contract. It’s as simple as that!

Why choose Friendly Finance?

Not all PCO drivers are looking for the all-inclusive experience that we provide on our Rent 2 Buy scheme, and that’s perfectly alright!

Think of Friendly Finance as a simple financing solution for PCO car ownership. We provide the car, you take care of the rest.

If you’re still on the fence, then don’t worry. We’ve also put a comparison tool on all of our PCO car pages, so that you can see a transparent breakdown of what you’ll pay, and what you’ll get, with Friendly Finance and Rent 2 Buy.

Will I own the car at the end of the scheme?

Yes. What you see is what you get with Otto Car. You will only be required to pay the agreed upon weekly rental fees, as well as the down payment or balloon payment you have chosen, and at the end of the contract term we will transfer the logbook details and vehicle information into your name.

To transfer the logbook into your name there will be an additional £200 administration fee.

What else is included in the scheme?

- The first year's breakdown cover and road tax is included.

- Your PCO car will come pre-installed with a CCTV Camera.

- You will be entitled to our 4 week payment holiday break each year. You can find out even more about this in our “other info” section.

What’s not included in the scheme?

Here is a list of what’s not included in your scheme:

- PCO Insurance.
- General maintenance costs including tyres & brakes.
- Servicing
- PHV Licensing
- 24/7 roadside assistance year 2, 3 and 4
- Road tax year 2, 3 and 4
- MOT appointments.
- Driver development program.
- Replacement car in the unfortunate event of an accident.

What if I want to cancel my Friendly Finance contract?

Unlike traditional finance companies, Otto Car will never try to tie you into a never ending contract.

With our Friendly Finance scheme you can cancel at any point after 3 months with 4 weeks notice.

Please keep in mind that you will lose any rental payments up until that point. In addition to this, if you have exceeded the weekly mileage limit (outlined below) then you will also be liable to pay for any excessive mileage charges you may have accrued.

Finally, there will also be a £200 cancellation fee if you decide to cancel before the contract is finished.

Payments

How do my weekly fees work?

You will have the choice of how much you want to pay into your down payment, and the size of your balloon payment. This will determine how much you’ll end up paying in weekly rental fees.

Our scheme is designed to give you complete control over your path to PCO car ownership. If you can put forward a bigger down payment, then this will lower your weekly fees and the total cost of your contract.

How does the down payment work?

All of our brand new PCO cars will have a minimum down payment of £1000 on our Friendly Finance scheme.

PCO drivers can adjust this to reflect their own savings. Your weekly fees, and the total cost of your PCO car, will change based on how much you can put into your initial down payment.

Feel free to check out our individual PCO car pages to see this in action. Insert how much you’d like to pay into the down payment, and watch your weekly fees drop!

How does the balloon payment work?

PCO drivers will have the option to select whether they would like a balloon payment or not.

Currently, we offer a 4 year contract with a £4000 balloon payment at the end. Alternatively, PCO drivers can opt out of the balloon payment, but this will result in higher weekly fees throughout your contract.

If you would like to proceed with the balloon payment then your weekly rental fees will be even lower, but you will be required to pay the final instalment of £4000 before we transfer the PCO car into your name (+ the £200 administration fee, scroll down for more details).

Can I use my Uber Clean Air Fund on the Friendly Finance scheme?

Yes. All of our electric PCO cars are eligible for the Uber Clean Air Plan. Depending on how much you have saved up, this will make your weekly fees even lower.

Is there a cancellation fee?

Yes. There is a cancellation fee of £200 for any PCO drivers who cancel before the contract is over.

Are there any final payments before owning my PCO car?

Yes, you will be required to pay a final £200 administration fee to transfer the logbook details into your name.

After that, the PCO car is all yours!

Eligibility

Are there any credit checks?

No. Here at Otto Car we’re more interested in your present than your past.

All PCO drivers are welcome to apply to our Friendly Finance scheme.

What is the minimum age?

The minimum age for the majority of our PCO cars is 30 years old.

What if I have points on my licence?

We will accept PCO drivers with up to 6 points on your licence. However, certain convictions such as IN10’s cannot be accepted onto our Friendly Finance scheme.

We recommend that PCO drivers call us before visiting if you have any major convictions.

Do I have to work with Uber to rent from Otto Car?

No. We welcome PCO drivers from all rideshare platforms onto our Friendly Finance scheme. Feel free to check out our PHV Operator Guide for a list of the top operators in London.

Do you accept PCO drivers who have had accidents?

If you have had 2 or more fault accidents then we won’t be able to accept you on to our Friendly Finance scheme.

Are there any other eligibility criteria?

PCO drivers will be expected to meet the following criteria for our Friendly Finance scheme:

- At least 12 months of recent PCO driving experience.
- Have a good level of English.
- Live within Greater London (within the M25).
- If you fail the Rent 2 Buy driving assessment, you won't be able to proceed with the Friendly Finance order.

.

Insurance

Is insurance included?

No. PCO drivers will be required to arrange their own PCO insurance prior to picking up the car.

PCO drivers will be required to arrange their own 12 month PCO comprehensive insurance prior to picking up the car. Proof of insurance must be shown before picking up the car

We will not accept 30-day rolling insurance.

Is there a particular type of insurance I must have?

Yes. PCO drivers are required to have fully comprehensive cover, and it must also be PCO compliant.

Mileage

Is there a mileage restriction on the Friendly Finance scheme?

Yes. We have a fair usage policy of 1000 miles per week.

PCO drivers who exceed this will be charged on a monthly basis, but your contract length will also be shortened, meaning you own your Uber car quicker. You’ll never pay more than the agreed upon price set out in the Friendly Finance contract.

What are the excess mileage charges?

Our mileage cap is 48,000 miles per year. This works out at 1000 miles per week + four weeks holiday.

Excess mileage costs 0.20p per additional mile each week.

Penalty Charge Notices

How does Otto Car transfer liability to the PCO driver?

As the logbook of the PCO car is in our name, we will receive the PCN first. At that point we will transfer the PCN into the PCO driver's name who can then decide to pay it or appeal it.

Is there an administration fee?

Yes. Due to the amount of time and effort it takes to transfer liability, there is a small charge of £10. This is significantly lower than most of our competitors.

Other Information

Does my PCO car come with a PHV licence?

No. It will be up to you to organise this yourself.

Can I take my PCO car abroad?

No. Otto Car requires the asset to remain in the UK.

Who is my contract with?

Your Friendly Finance contract is with Otto Car.

What is the 4 week holiday break?

With our Friendly Finance scheme you are eligible for up to 4 weeks holiday payment break throughout the year. These breaks can be up to two weeks in a row, and there must be a minimum of 3 months between taking further holiday breaks.

There is a minimum waiting period of 6 months before you can claim your first holiday break. Your Friendly Finance contract will also be extended by the amount of weeks you take off e.g. taking 12 weeks off over 3 years will result in a 12 weeks extension of your contract.

There will also be a £20 weekly holiday payment fee for the duration of the holiday payment break.

The Otto Charging Network

What is the Otto Charging network?

Otto Car have worked closely with the biggest charging providers in London to create the biggest charging network exclusively for PCO drivers on our Friendly Finance and Rent 2 Buy schemes.

PCO drivers won’t have to pay any additional monthly subscription fees to access each network, and you won’t have to carry endless access cards to use the public chargers in The Otto Charging Network either!

How does it work?

PCO drivers who sign up to our Friendly Finance or Rent 2 Buy schemes can select the Otto Charging Network by adding the car + charge plan to their scheme. For just £39 a week, you will get £39 worth of credit to use on any chargers in our network.

How many chargers are there?

We currently have 600+ rapid chargers and 700+ fast chargers in the Otto Network, as well as thousands of slow chargers.

Simply put, you can wave goodbye to range anxiety!

What are the rates for each charger?

Each charging company has a different rate for users. However Otto Car have procured a number of large discounts for the PCO drivers in our network, including with Shell Recharge, where you can save up to 30% on charging costs.

You can find out a full list of charging companies on our official Otto Charging Network page.

What happens if I don’t use all of my weekly credits?

Not to worry, The Otto Charging Network comes with a roll over feature. If you don’t use all of your weekly credits, then you can roll it over to next week and use it then.

You’ll always be able to get every drop of juice you paid for!

Where can I find out more?

You can find out more about the scheme and see a full list of our charging providers on our dedicated Otto Charging Network page.