Top 10 Lenders Offering £300,000 HGV Finance in 2026
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Top 10 lenders for £300,000 HGV finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established haulage firms funding multiple HGV purchases | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Owner-operators and small haulage fleets upgrading vehicles | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Transport businesses needing flexible asset finance terms | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing logistics companies expanding their HGV fleet | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Smaller transport operators starting with single vehicle finance | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Larger haulage firms wanting bank-backed asset finance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-sized transport firms funding specialist HGV purchases | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | PEAC Solutions | Haulage businesses comparing asset finance options broadly | Not published | interest 7% to 14.5% annually |
| 9 | Aldermore Asset finance | Newer transport operators with smaller deposit requirements | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-established logistics firms with strong turnover records | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets haulage businesses spread the cost of a heavy goods vehicle over time rather than paying the full purchase price upfront. The lender buys the HGV and you repay in fixed instalments, with the vehicle itself serving as security. This structure preserves working capital for fuel, maintenance and driver costs — a practical fit for transport operators who need to keep cash flowing while expanding or renewing their fleet.
Comparing lenders goes beyond the headline rate. Check whether the lender understands commercial vehicle assets — some apply blanket equipment terms that overlook HGV depreciation and mileage realities. Look at deposit flexibility, as requirements can range from 10% to 20% or more. Early settlement terms matter if you plan to upgrade vehicles before the agreement ends. Funding speed also varies meaningfully between high-street banks and specialist asset finance providers.
Important note:
Funding Agent
Published loan rangeFrom £10,000 to up to £1,000,000
Rate typeInterest from 6.8% annually
Why it is included:It is included because many business owners need to compare several finance routes before choosing where to apply.
Funding Agent can help businesses compare suitable options across a lender panel, especially when eligibility depends on turnover, sector, trading history, credit strength and available documents.
Best use case: When the borrower wants to avoid applying to one lender at a time.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Why it stands out
- Useful when a business wants to compare lender fit rather than guess which lender to apply to first.
- Can help position the application around the funding purpose, trading profile and available documents.
- Works well as a conversion route for readers who are unsure whether a direct lender will approve a larger unsecured facility.
Need to know
- Funding Agent is a broker, not a lender.
- The lender, not Funding Agent, sets the final rate, term, fees and approval decision.
- The best match may be unsecured, secured, revolving credit, invoice finance or another product depending on the case.
Expert take
Funding Agent is a useful honourable mention for business owners who want to compare lender options before submitting a full application. A larger unsecured loan is not always approved by the first lender a business finds, so understanding lender fit early can reduce wasted time and avoid unnecessary declines.
Reward Funding
Published loan range£100,000 to £5,000,000
Rate typeinterest 0.99% to 3% monthly
Overview: For haulage firms needing a single truck or several, Reward Funding lends from £100,000 to £5 million through asset finance. Funding reaches your dealer within 24 hours. The trade-off is that security is required and legal or valuation costs may apply.
Best next step: Check eligibility for HGV asset finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Funds released within 24 hours
- Flexible drawdown for fleet purchases
- Supports repeat or seasonal vehicle needs
Need to know
- Security required for all facilities
- Legal or valuation costs may arise
- Limits can be reviewed or withdrawn
Expert take
A secured asset lender built for mid-to-large facilities. Reward Funding suits established haulage operators who can offer security and want fast access to six-figure HGV funding without the delays of bank underwriting.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Decisions within 24 hours keep fleet replacement plans on track with Liberty Leasing. The lender funds HGVs from £10,000 to £2 million through straightforward asset finance, with annual rates from 11% to 16%. Expect to provide a deposit and meet asset eligibility checks.
Best next step: Compare HGV lease and HP options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Same-day decisions on HGV applications
- Preserves cash flow for running costs
- Covers vehicles from £10,000 upwards
Need to know
- Annual rates start from 11%
- Deposit likely required on HGVs
- Asset must pass eligibility checks
Expert take
A responsive asset finance provider with a broad appetite for vehicle funding. Liberty Leasing works well for haulage firms that need a quick yes or no on a £300,000 HGV and value rate certainty through fixed annual pricing.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Hire purchase and finance lease agreements through Lombard let haulage businesses spread HGV costs over predictable monthly payments. As part of NatWest Group, Lombard funds vehicles up to £5 million. Monthly rates range from 4% to 11.5%, and funding can complete within 24 hours.
Best next step: Explore Lombard HGV finance terms
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Hire purchase and lease options available
- Backed by a major UK banking group
- Funds up to £5 million for fleets
Need to know
- Monthly rather than annual rate structure
- Asset eligibility and valuation checks apply
- Deposit may be required on larger HGVs
Expert take
A bank-backed asset funder with decades of transport sector experience. Lombard's strength for a £300,000 HGV purchase lies in its flexible product structures and the stability that comes from being part of a major clearing bank.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: For hauliers who invoice on 30-day terms, Time Finance can fund both the HGV itself and the working capital gap those invoices create. Annual rates start at 5.5% for asset finance up to £5 million, with decisions in 24 hours. Revolving credit lines mean seasonal transport businesses only draw what they need.
Best next step: See combined asset and invoice finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Asset and invoice finance under one roof
- Revolving credit for seasonal haulage work
- Annual rates from 5.5% on vehicles
Need to know
- Suitability depends on debtor quality
- Limits may be reviewed over time
- Deposit or valuation may be needed
Expert take
A dual-purpose funder bridging asset and invoice finance. Time Finance is particularly relevant for established haulage firms that want to finance a £300,000 HGV while also unlocking cash tied up in unpaid customer invoices.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Annual rates from 5.5% help keep monthly HGV repayments manageable with Admiral Leasing. The lender offers equipment leasing from £1,000 upwards and can fund within four hours. Transport businesses should be prepared to show strong trading history, as underwriting tends to favour established operators.
Best next step: Request an Admiral HGV lease quote
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Competitive annual rates from 5.5%
- Funding possible within four hours
- Covers single HGVs to full fleets
Need to know
- Strong trading history often expected
- Personal guarantee may be requested
- Legal and valuation costs can apply
Expert take
An equipment leasing specialist with a cost-conscious rate structure. Admiral Leasing is a sensible option for well-established haulage businesses that can demonstrate consistent trading and want competitive annual pricing on a £300,000 HGV.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: A clearing bank with a dedicated asset finance division, Barclays lends from £1,000 to £25 million for HGV purchases. Annual rates sit between 8.5% and 14.9%. Bank underwriting means the process can be slower than alternative lenders, though the facility size and brand stability suit larger haulage operators.
Best next step: Check Barclays HGV asset finance rates
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lends up to £25 million for fleets
- Broad product coverage and brand trust
- Revolving credit for repeat purchases
Need to know
- Bank underwriting can be slower
- Strong trading history typically required
- Security and personal guarantees may apply
Expert take
A mainstream bank funder with scale most alternative lenders cannot match. Barclays suits larger, well-documented haulage businesses that can wait for thorough underwriting and want the reassurance of a high-street name behind a £300,000 HGV facility.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Facilities from £15,000 to £5 million give haulage businesses room to start small or fund multiple HGVs through Acorn Business Finance. Annual rates range from 8% to 15%, with decisions typically within 24 hours. The lender covers asset finance, acquisition funding, and premium finance under one roof.
Best next step: View Acorn HGV finance options
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Covers HGVs and related equipment
- Acquisition and premium finance available
- Decisions typically within 24 hours
Need to know
- Strong trading history may be needed
- Annual rates from 8% to 15%
- Security requirements apply to facilities
Expert take
A multi-product finance house with an appetite for asset-backed transport deals. Acorn Business Finance appeals to haulage operators who want a single funding partner for vehicle purchases, acquisitions, and insurance premium financing.
PEAC Solutions
Published loan rangeNot published
Rate typeinterest 7% to 14.5% annually
Overview: PEAC Solutions focuses purely on asset finance, making HGV funding a core part of what they do rather than a side offering. Annual rates range from 7% to 14.5% with decisions in 24 hours. Because the lender is vehicle-focused, haulage applications tend to move through underwriting with fewer delays.
Best next step: Check PEAC HGV finance rates
More info
Company stats
Rates and debtor rules
Benefits
- Specialists in asset-backed vehicle funding
- Annual rates from 7% on HGVs
- 24-hour decision turnaround
Need to know
- Published loan range not available
- Asset eligibility checks apply
- Deposit may be required on vehicles
Expert take
A pure-play asset finance provider without distraction from other lending products. PEAC Solutions gives haulage businesses a focused route to funding where the entire underwriting process is built around vehicles and equipment.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Haulage businesses wanting rate certainty can lock in fixed annual pricing from 5% through Aldermore Asset Finance. The specialist bank lends from £1,000 to £10 million for vehicle purchases. Funding takes around 48 hours, slightly longer than some alternative lenders but with the stability of a regulated bank behind every agreement.
Best next step: Compare Aldermore HGV finance terms
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lends from £1,000 to £10 million
- Annual rates from 5% on vehicles
- Specialist bank with asset finance focus
Need to know
- Funding takes around 48 hours
- Asset valuation may slow the process
- Deposit typically required on HGVs
Expert take
A specialist bank with a clear appetite for asset-backed lending. Aldermore works for haulage operators wanting a lender that understands transport assets and can fund a £300,000 HGV at competitive rates without high-street bank rigidity.
Source:https://www.aldermore.co.uk/business/business-finance/asset-finance/
Close Brothers
Published loan range£25,000 to £100,000,000
Rate typebespoke 3.5% to 10% monthly
Overview: Close Brothers has been lending to the transport sector for decades, making it one of the few funders that genuinely understands haulage. Facilities run from £25,000 to £100 million with bespoke monthly rates from 3.5% to 10%. The lender favours established operators turning over at least £500,000 annually.
Best next step: Explore Close Brothers transport finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decades of transport sector experience
- Funds up to £100 million for fleets
- Bespoke rates for larger HGV facilities
Need to know
- Minimum £500,000 annual turnover expected
- Monthly rate structure, not annual
- Bespoke pricing means quotes vary widely
Expert take
A blue-chip lender with deep transport sector roots. Close Brothers suits established mid-market haulage firms meeting the half-million turnover threshold. Their credit team already understands HGV lifecycles and residual values.
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How HGV finance works for different UK haulage business structures
HGV finance at the £300,000 level typically comes as hire purchase or a finance lease. Under hire purchase, your business pays a deposit then monthly instalments, and you own the vehicle once the final payment clears. A finance lease lets you use the vehicle for a set period while paying a fixed monthly amount, with the option to sell the vehicle at the end and retain a share of the proceeds.
Limited companies are the most common structure lenders see in haulage. Sole traders and partnerships can also access £300,000 HGV finance, though lenders will usually ask for a personal guarantee regardless of your legal structure. Reward Funding, Liberty Leasing, Time Finance, Aldermore Asset Finance, and Close Brothers all confirm they require personal guarantees on their asset finance facilities.
Owner-operators with a single truck and established haulage firms with larger fleets both qualify, provided the vehicle serves a clear commercial purpose and the business has a track record of meeting its financial commitments.
Typical deposits and LTV expectations for £300,000 HGV finance
Most asset finance lenders funding HGVs at this level expect a deposit, typically between 10% and 20% of the vehicle value. The lenders on this page show a range of loan-to-value caps:
| Lender | Maximum LTV | Deposit on £300k HGV |
|---|---|---|
| Reward Funding | 85% | £45,000 |
| Close Brothers | 90% | £30,000 |
| Aldermore | 100% | £0 |
A larger deposit reduces the amount financed, which lowers monthly repayments and can improve the rate a lender offers. Some haulage businesses part-exchange an existing vehicle to cover the deposit, while others use cash reserves built up from retained profits.
Repayment terms when financing a £300,000 heavy goods vehicle
Repayment terms for HGV finance vary widely depending on the lender and the vehicle type. Among the lenders listed, Admiral Leasing, Aldermore, and Close Brothers offer terms up to 7 years, which spreads the cost of a £300,000 vehicle across a manageable monthly schedule. Barclays extends this to 25 years, though such long terms are more common for property-backed arrangements than pure vehicle finance. At the shorter end, Reward Funding structures asset finance from 3 months to 1 year.
Interest costs also differ significantly. Reward Funding and Close Brothers publish rates on a monthly basis, from 0.99% to 10% per month depending on the applicant. Lenders quoting annual rates include Liberty Leasing at 11% to 16% per year, Barclays at 8.5% to 14.9% per year, and Aldermore at 5% to 15% per year. Always check whether the rate is monthly or annual before comparing, as the difference in total cost can be significant on a £300,000 facility.
Documents you need to apply for £300,000 HGV finance
Lenders will expect a standard set of documents when you apply for HGV finance at this level. You will typically need the last two years of filed accounts or, for younger businesses, management accounts prepared by your accountant. Bank statements for the last three to six months are also standard, showing consistent trading activity and sufficient cash flow to service the repayments.
If the vehicle is a new purchase, you will need a pro forma invoice from the dealer or manufacturer. For used HGVs, an independent valuation or the dealer’s sales invoice usually suffices.
Eligibility thresholds vary. Lombard asks for a minimum trading history of 1 year and at least £25,000 in annual turnover. Close Brothers sets a higher bar at £500,000 turnover and 1 year of trading. Aldermore is more accessible, accepting businesses from 6 months of trading with no minimum turnover requirement. Most lenders will also want to see your operator licence and details of any existing finance agreements on your fleet.
