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With hire purchase, the lender considers your trading history and affordability against net cash flow, alongside the expected residual/valuation of the specific truck(s). Deposits are commonly required for newer or higher-value vehicles, and acceptance can depend on vehicle age, mileage bands and any condition information provided. Typical facilities can range from £25,000 to £500,000+ for larger fleets, with terms usually 24 to 72 months. Initial indications can be as quick as a few business days, while multi-vehicle cases with valuations and checks often take 1 to 3 weeks. Pricing is commonly expressed as a fixed monthly finance charge rate or APR, often around 6.0% to 15.0% APR equivalent depending on risk, deposit and term.

In a leasing arrangement, affordability and credit profile matter, as does vehicle suitability such as age, mileage and condition. Deposit and term structure typically reflect expected residual value assumptions and the way your fleet will operate. Amounts are often £50,000 to £600,000+ for fleets, with terms commonly 24 to 60 months. Decision times are frequently 1 to 3 weeks for multi-vehicle requests, and sometimes quicker for single-vehicle applications where valuations are straightforward. Lease pricing is usually delivered as a rental with an effective finance cost, with many SME deals mapping to an APR equivalent in the approximate 6.0% to 15.0% range, subject to deposit, term and risk.

Refinance is commonly used where the business already owns qualifying HGVs and wants to release capital. Lenders usually require evidence of ownership and clear title, or deal structure to manage any existing finance. They also consider up-to-date valuations and condition, and whether you can service the new facility. Typical amounts are roughly £20,000 to £250,000+ for smaller fleets and up to £500,000+ for larger portfolios, with terms often 12 to 60 months. Effective costs can vary widely depending on asset quality and any existing secured charges, with a pragmatic SME market range often around 6.0% to 16.0% APR equivalent. Decision times are typically 1 to 4 weeks because lenders must verify ownership, charges, valuations and the risks involved in restructuring.