Coach firm grows fleet with Close Brothers’ hire purchase deal

Fast-growing transport operator Reading & Wokingham Coaches has strengthened its fleet with the acquisition of a new 54-seater Scania coach, thanks to a Hire Purchase agreement facilitated by Close Brothers Asset Finance.

The company, founded by Robert Tappin in December 2021, has quickly carved out a niche in the rail replacement service sector, helping commuters reach their destinations during train disruptions. With demand on the rise, the business saw the need to expand capacity and improve service delivery by upgrading to a larger vehicle.

Recognising this opportunity, Tappin turned to Alan Cardy, Senior Sales Manager at Close Brothers Asset Finance’s National Accounts team, for a tailored financing solution. Cardy proposed a Hire Purchase agreement, allowing the business to invest in the new coach while spreading costs over time, improving cash flow and ensuring full ownership of the vehicle at the end of the term.

“We are delighted with the recent agreement for financing our new 54-seater coach. As a rail replacement bus service operator, having sufficient capacity to serve our customers promptly is vital,” said Tappin.

“Alan and the team at Close Brothers Asset Finance were incredibly helpful, and I will not hesitate to approach them again if we require finance in the future.”

Alan Cardy echoed the sentiment, highlighting the collaborative nature of the deal:

“It has been a pleasure working with Robert and assisting his business’s growth. By using Hire Purchase we were able to facilitate the funding of their new coach, helping to meet their expanding business demands.”