UK’s leading under-17 driving school breaks from tradition with landmark fleet ownership deal, opening doors to long-term savings, increased flexibility and greener driving solutions.
In a significant shift from the standard leasing model favoured by driving schools, Young Driver® – the UK’s largest under-17 driving school – has made its boldest move yet, acquiring 170 brand-new Suzuki Swifts in a fleet purchase exceeding £2 million. The deal was funded by Lombard, NatWest’s asset finance business, and marks a pivotal moment for the organisation as it charts a more cost-effective and environmentally conscious course for the future.
From Leasing to Ownership – A Strategic Pivot
After 15 years, over 1.5 million lessons and several fleet refreshes, Young Driver has opted for full ownership of its training vehicles for the first time. The strategic decision was made possible through a tailored funding package from Lombard, which allowed the business to unlock the economic and operational advantages of buying outright.
“We’ve had a great relationship with NatWest Commercial Banking and Lombard over the past three years,” said Ian Mulingani, Managing Director at Young Driver. “As the lease on our previous Vauxhall Corsas came to an end, we were keen to explore the financial benefits of switching to ownership. Thanks to the strong residual values of the new Suzuki Swift and a competitive funding structure, it became clear that buying made more sense.”
Unlike leasing agreements, where full payments must be expensed, outright ownership allows Young Driver to offset only the interest and depreciation against profits – a model that offered a more favourable financial position in the long term.
Strong Residuals and Solid Support
Key to the deal was the exceptional performance of the all-new Suzuki Swift in terms of predicted value retention. According to CAP, the Swift is expected to retain 55% of its value after three years and 36,000 miles – a figure that gave Young Driver the confidence to commit to the purchase.
The financial peace of mind was further underpinned by Suzuki’s generous warranty coverage of up to seven years or 100,000 miles, offering the potential for longer vehicle retention and improved balance sheet performance.
Michelle Watkinson, Senior Relationship Manager at NatWest Commercial Banking, commented:
“Because we fully understand Young Driver and its goals, we were able to connect them with Lombard to finance the fleet in a way that aligns with their growth ambitions. It’s been a collaborative and rewarding journey.”
Ray Nsemwa, Senior Relationship Manager at Lombard, added:
“This move enables Young Driver to expand its reach and income while continuing its mission to promote safer roads. It’s a transformational moment for the business.”
A New Swift Start – With Added Flexibility
The newly acquired fleet is comprised of 160 Swift Motion models, each powered by Suzuki’s 1.2-litre, three-cylinder, mild-hybrid engine producing 81bhp and paired with a five-speed manual gearbox. An additional 10 models come equipped with CVT transmissions, catering to young drivers with disabilities who require automatic controls. All vehicles are fitted with He-Man Dual Controls.
The shift to ownership also offers a previously unavailable degree of flexibility. Should Young Driver decide to update part of the fleet ahead of schedule, individual vehicles can be sold without incurring early termination penalties, and the corresponding portion of the loan repaid. This is particularly valuable as the driving school keeps a close eye on evolving trends around electric vehicles.
“With the future so uncertain about demand for EVs, it’s impossible to say if new drivers will want to learn in one or not,” said Mulingani. “By owning the cars, we have the flexibility to react to changing preferences and introduce EVs into our fleet if and when the demand arises.”
Economic and Environmental Gains
The move to the Suzuki Swift also brings significant environmental and financial savings. With official combined fuel economy figures of 64.2mpg and CO₂ emissions of just 99g/km – a notable drop from the outgoing Corsa’s 117g/km – Young Driver expects to save nearly £20,000 in fuel alone across its operations.
As the UK’s first driving school to offer carbon-negative driving lessons, Young Driver remains committed to sustainable teaching. The efficiency of the new fleet aligns perfectly with the business’s goal to promote greener driving habits among the next generation.
Opening the Doors to a Younger Generation
An unexpected bonus comes from the Swift’s design, which accommodates children from the age of nine – a full year younger than the minimum age required for the outgoing Corsas. This change potentially opens up Young Driver’s lessons to a new demographic, expanding the business’s reach and increasing revenue opportunities.
