Finance Requirement

Bit confused.

2 vehicles and 1 trailer

How much do you need to show in the bank?

£6200 + £3400.

vosa.gov.uk/vosa/newsevents/ … levels.htm

So no finance is required for the trailer?

Don’t think so, I could be wrong though.
its down to how many vehicles you want on your o licence.
I’ve got 4 tractors plus 4 trailers.
At the time I had to have just over £16000 in my bank for at least 3 months.
How I did it though was to put £50000 in the account straight away, and that counts the same, but you have to provide about 4 months previous bank statements as well.

no, no financial status is required for trailors but make the mistake of not putting one on your o’license application from the outset and you’ll be required to apply for a major varitation at a later date and all that goes with it, something the nice people at the traffic office forgot to mention when i first applied! :unamused:

What I meant Paul was that you only need financial standing for “vehicles” and not seperate trailers.
Mind you - if I’m wrong, I’ll take it like a man. :cry: :cry: :cry: :cry: :cry:

My original licence was for two vehicles (no trailers)

That was when I had one rigid (plus one on the margin).

I then sold the rigid and bought a Wagon & Drag.

I though I was doing the right thing by notifying the TC that I now need 1 x Vehicle plus 1 x Trailer. This, I thought, would negate a major change. (I thought that a trailer was a vehicle in terms of inspections/maintenance/abilty to pay for repairs).

So, could I have kept it at two vehicles, but added a trailer, without going through the £600 approx major change?

I’m sure a lot of you will appreciate that the £600 cost for changing the paperwork seems a tad cruel!

i would’ve thought that would be the case, i had a simular situation at the start of the year, i had a license for one rigid but had all but decided to go artic so wanted to add a trailor to the license but the traffic office veiw a unit and trailor as two vehicles as far as parking etc goes so i needed to apply for a major varitation with advert in the paper and all that but no proof of financial standing was required, as you say it’s not cheap and a bit sickening when i could’ve added a trailor on my original application at no extra cost. you on the other hand have a vehicle in the margin so i would think you could add a trailer and drop the extra vehicle at no cost because bassically your not asking for any extra parking or use. if you want to keep the one in the margin then it’s a major variation and all that goes with it!
one thing, unless you’ve actually spoken to the fella who will deal directly with your o’license don’t take anything as gospel, i rang a few times and one operative told me i didn’t need to have a trailor entitlement if i was hiring a trailor this turned out to be totally wrong!

ian, i was agreeing, not disagreeing! :confused:

Thanks for your help.

Looks like I’m going to have to do a major change for another reason. So I may as well go for 3 Vehicles and 3 Trailers and hope this will see me through the next five yrs!

Bye Bye £600 ! :cry:

if your going to add a vehicle to an existing o’license, as i understand it you have to provide six months bank statements showing you’ve had the mininmum required amount in most of the time! this is where the whole system falls down, what owner driver has the best part of ten grand floating? not me thats for sure :cry:

Spare money in the bank??
:laughing: :laughing: :laughing: :laughing: :laughing:

Anyway - Paul, I had my o licence application done by someone else for me as its not as cut and dried as its made out to be.

Spaceman - just ring the center that deals with your area and ask them to explain it in plain English. Thats what I have to do, because I dont understand half of what they go on about!

[quote=

Anyway - Paul, I had my o licence application done by someone else for me as its not as cut and dried as its made to be [/quote]

:question: you’ve lost me

Thats what I said when I saw the O licence application forms.
I’ve got an appointed transport manager, so I didn’t have to go through all that.

so have you used one these that you see advertissed? if so is he your tm in name only purely to get your o’license or do they actually get involved in the running of the job? be interested to know how it pans out as i don’t hold my own cpc.