Top 10 Lenders for £300,000 Vehicle Finance in 2026
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Top £300,000 Vehicle Finance Lenders for Construction Businesses
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Construction firms funding high-value fleet where competitive monthly rates matter most | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Established construction businesses needing fast decisions on vehicle fleets up to £2 million | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Larger construction companies with 12-plus months trading wanting specialist vehicle funding | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Construction operators seeking annual-rate clarity on vehicle assets up to £5 million | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Construction businesses considering equipment leasing alongside vehicle finance options | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Construction firms wanting a high-street benchmark for large-scale fleet investment | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-sized construction operators funding multiple commercial vehicles at once | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | PEAC Solutions | Included for comparison; suits construction firms exploring asset finance routes | Not published | interest 7% to 14.5% annually |
| 9 | Aldermore Asset finance | Younger construction businesses from six months old seeking flexible vehicle funding | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | More established construction firms with strong turnover funding major fleet acquisitions | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets businesses acquire vehicles by spreading the cost over time while the asset itself secures the borrowing. For construction firms, this means funding tippers, pickups, vans, and HGVs without large upfront payments draining working capital. At the £300,000 level, it is a practical way to expand or renew a fleet while keeping cash available for project costs, materials, and payroll.
Choosing the right vehicle finance lender means looking past the headline rate. Construction businesses should compare deposit requirements, which can vary widely, and check whether lenders offer seasonal or flexible repayment structures that align with contract payment cycles. The lender's appetite for funding specialist commercial vehicles like mixers or low-loaders also matters. Finally, examine whether balloon payment options are available to reduce monthly outgoings, a common priority for firms managing high-value fleet finance at this level.
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: Monthly rates from 0.99% make Reward Funding a cost-conscious route for construction firms financing HGVs, tippers or plant vehicles. It lends £100,000 to £5 million through asset-backed structures, with flexible drawdowns that suit staggered fleet purchases. The vehicles secure the facility, so no additional property collateral is needed. Rates are quoted monthly, so compare total cost against annual equivalents.
Best next step: Flexible drawdowns suit phased fleet purchases.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 0.99% monthly
- Flexible asset-backed drawdowns
- No property collateral required
Need to know
- Rates quoted monthly, not annually
- Security tied to specific vehicles
- Legal or valuation costs may apply
Expert take
A revolving asset finance lender suited to mid-to-large construction firms managing staggered fleet renewal. The rate profile favours businesses with strong credit. Construction companies running mixed fleets of HGVs and plant can consolidate funding under one facility without property-backed lending.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Liberty Leasing can turn around asset finance decisions within 24 hours, which helps construction firms under pressure to secure vehicles before project starts. It lends £10,000 to £2 million, covering everything from single vans to multi-vehicle orders. Annual rates run from 11% to 16%. The lender funds against the asset itself, so cash reserves stay free for day-to-day project costs.
Best next step: Fast decisions for time-sensitive fleet purchases.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decisions within 24 hours
- Annual pricing, easy to compare
- Preserves working capital
Need to know
- Rates from 11% to 16% annually
- Asset-specific security required
- Deposits or valuations may apply
Expert take
A straightforward asset finance provider that prioritises speed without complicating the product. Construction firms needing quick vehicle top-ups between contracts will find the process lean. Best suited to straightforward fleet additions rather than complex multi-asset structures.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard can fund vehicle finance up to £5 million, making it a practical option for construction firms running large, high-value fleets. Monthly rates start from 4%, and the lender structures facilities around the vehicles themselves. As a well-established name in asset finance, Lombard understands the capital cycles of construction businesses that replace or expand fleet plant at scale.
Best next step: High lending cap for large-scale fleet finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Up to £5 million available
- Established asset finance provider
- Understands construction capital cycles
Need to know
- Rates quoted monthly from 4%
- Vehicle valuation required
- Not for start-up contractors
Expert take
A long-standing asset funder with the balance sheet to support serious fleet investment. Construction firms upgrading entire vehicle fleets in one cycle will find the upper limit accommodates major renewal programmes. Lean on them when the deal is straightforward and the assets are mainstream.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Time Finance structures vehicle finance with annual rates between 5.5% and 13.5%, giving construction firms clarity on yearly cost. It funds up to £5 million and can support businesses that also use invoice finance, making it a good fit for contractors managing both fleet and cash-flow needs from a single lending relationship. Funding decisions come within 24 hours.
Best next step: Combines vehicle and invoice finance under one lender.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates for clear budgeting
- Up to £5 million facility
- 24-hour funding decisions
Need to know
- Invoice finance may be cross-sold
- Asset security required
- Suitability depends on debtor quality
Expert take
A dual-product lender that construction firms on invoice finance can use for vehicle funding too. This avoids spreading fleet and cash-flow needs across multiple funders. Best for contractors with strong B2B invoicing who want a consolidated funding relationship.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral Leasing stands out for funding speed, with decisions possible in as little as four hours. For construction firms that need to move quickly on a vehicle purchase, that turnaround can make the difference. It lends from £1,000 upwards, with annual rates between 5.5% and 13.5%. The product is straightforward asset finance secured against the vehicles themselves.
Best next step: Four-hour decisions for urgent vehicle purchases.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Decisions in as little as 4 hours
- Annual rates from 5.5%
- Funds from £1,000 upwards
Need to know
- Best for straightforward deals
- Asset security required
- May need strong trading history
Expert take
A speed-first funder that construction firms can call on when a vehicle deal needs closing fast. The four-hour turnaround is rare in asset finance and suits spot purchases. Works best for single-vehicle or small-fleet top-ups where the asset profile is uncomplicated.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings bank-grade asset finance to construction vehicle funding, lending from £1,000 to £25 million. Annual rates sit between 8.5% and 14.9%. For construction firms already banking with Barclays, the relationship can simplify underwriting and speed up approval. The lender's asset finance team understands plant, HGVs and commercial vehicle fleets across the sector.
Best next step: Bank-backed vehicle finance for existing Barclays customers.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lends up to £25 million
- Relationship-based underwriting
- Covers plant, HGVs and fleets
Need to know
- Bank process may be slower
- Strong trading history expected
- Personal guarantee likely required
Expert take
A high-street bank with an asset finance division that understands construction fleet needs. Best for established contractors who value banking relationship leverage over speed. The upper limit is generous, but underwriting is thorough and suited to businesses with clean, consistent accounts.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance covers a broad range of asset finance needs, lending £15,000 to £5 million at annual rates of 8% to 15%. Its product set spans asset finance, revolving credit, secured loans and premium finance, which can suit construction firms funding mixed fleets alongside other capital needs. The lender also handles acquisition finance for firms buying another contractor's fleet.
Best next step: Mixed-fleet and acquisition finance under one roof.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lends £15,000 to £5 million
- Handles fleet acquisition deals
- Multiple product types available
Need to know
- Annual rates 8% to 15%
- Asset security required
- Acquisition deals need more time
Expert take
A multi-product finance house that construction firms can use for more than just vehicle funding. The acquisition angle is useful when buying a competitor's fleet. Suited to contractors who want one lender relationship across asset, secured and acquisition finance.
PEAC Solutions
Published loan rangeNot published
Rate typeinterest 7% to 14.5% annually
Overview: PEAC Solutions keeps vehicle finance simple, funding against the asset with annual rates from 7% to 14.5%. It does not publish a fixed lending range, so construction firms need to discuss facility size directly. The lender focuses purely on asset-backed deals, which suits contractors who want a clean separation between vehicle funding and wider business borrowing. Decisions come within 24 hours.
Best next step: Pure asset-backed finance with annual pricing.
More info
Company stats
Rates and debtor rules
Benefits
- Annual rates from 7%
- Clean asset-only security
- 24-hour decisions
Need to know
- No published lending range
- Asset-specific funding only
- Direct discussion needed for terms
Expert take
A focused asset finance provider that keeps things uncomplicated. Construction firms looking for vehicle-only funding without cross-product noise will appreciate the narrow remit. The lack of published range means you negotiate from first principles, not a rate card.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore lends from £1,000 to £10 million, covering everything from a single works van to a full construction fleet. Annual rates range from 5% to 15%, and the lender has a well-established presence in UK asset finance. Funding decisions typically take 48 hours. For construction firms scaling fleet size gradually, the wide band means one lender can grow with the business.
Best next step: Wide lending range that scales with your fleet.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- £1,000 to £10 million range
- Annual rates from 5%
- Long-standing UK asset funder
Need to know
- 48-hour decision window
- Slower than some competitors
- Asset security required
Expert take
A dependable UK asset finance name with the range to fund everything from a single van to a large fleet. Construction firms that want a lender who can start small and grow with them will find the spread practical. Not the fastest, but reliably present in the market.
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 explicitly serves transport, manufacturing and construction, lending £25,000 to £100 million with bespoke monthly rates from 3.5%. The lender typically looks for B2B businesses turning over £500,000 or more. For established construction firms running significant fleet operations, this is a lender that already understands the sector's vehicle finance rhythms without needing educating on plant, HGVs or specialist fleet.
Best next step: Construction-sector specialist with deep fleet knowledge.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Up to £100 million available
- Construction sector expertise
- Bespoke pricing structure
Need to know
- £500k minimum turnover typically
- Bespoke rates, not standardised
- Mid-market focus, not for small firms
Expert take
A mid-market funder with genuine construction and transport domain knowledge. The turnover threshold means smaller contractors need not apply, but firms above £500k get a lender who already speaks their language. Rates are bespoke, so negotiate from a position of trading strength.
Asset Finance Calculator
How asset finance works for £300,000 of construction fleet vehicles
Asset finance lets construction businesses spread the cost of £300,000 in fleet vehicles over time rather than paying upfront. The two main structures are hire purchase and finance lease.
With hire purchase, your firm makes fixed monthly payments over an agreed term. Once the final payment clears, you own the vehicles outright. This suits construction companies that plan to keep trucks, tippers, and vans long term.
With a finance lease, you rent the vehicles for a set period. At the end, you either return them, extend the lease, or sell them and keep a share of the proceeds. This works well for construction firms that prefer to refresh fleet every few years.
In both cases, the vehicles themselves act as security. The lender retains legal title until the agreement ends, which means asset finance is typically easier to secure than an unsecured loan for the same amount.
Deposits, VAT, and ownership options for construction vehicle finance
Lenders funding construction vehicle finance at £300,000 typically ask for a deposit of 10% to 20% of the asset value. Reward Funding lends up to 85% loan-to-value, meaning a £45,000 deposit on a £300,000 fleet. Aldermore Asset Finance can go to 100% LTV in some cases, though full finance usually comes with stricter affordability checks.
VAT treatment depends on how your construction business is registered. VAT-registered firms using hire purchase can reclaim the VAT on the vehicle purchase price upfront through their next return. With a finance lease, VAT is paid on each monthly rental instead, which spreads the reclaim across the agreement term.
If your construction business uses the flat rate VAT scheme, speak to your accountant before signing. The VAT treatment differs and can affect the overall cost of financing £300,000 worth of vehicles.
Comparing rates and terms on £300,000 construction vehicle finance
Rates on £300,000 construction vehicle finance vary by lender structure. Some quote monthly rates, others annual, so direct comparison matters.
| Lender | Rate range | Max term | Max loan |
|---|---|---|---|
| Reward Funding | 0.99% to 3% monthly | 1 year | £5,000,000 |
| Aldermore | 5% to 15% annually | 7 years | £10,000,000 |
| Close Brothers | 3.5% to 10% monthly | 7 years | £100,000,000 |
| Barclays | 8.5% to 14.9% annually | 25 years | £25,000,000 |
Terms from five to seven years spread £300,000 into manageable monthly payments. Shorter terms cut total interest but raise monthly outgoings, a key concern for construction firms managing stage payments and retention deductions.
What construction firms need to qualify for high-value fleet finance
Construction firms seeking £300,000 in vehicle finance need to show lenders they can service the repayments. Most lenders expect at least one year of trading history. Lombard and Close Brothers both list a minimum of 12 months. Aldermore accepts applications from firms trading for six months.
Turnover requirements also vary. Close Brothers asks for at least £500,000 in annual turnover for its asset finance facilities. Lombard sets a lower threshold at £25,000. Some lenders do not publish a specific turnover floor but will assess affordability based on your latest accounts and pipeline.
Personal guarantees are common at this level. Reward Funding, Liberty Leasing, Aldermore, and Close Brothers all require directors to provide a personal guarantee. This means you are personally liable if the business cannot repay. Lenders also consider the type of vehicles. Standard vans and HGVs are easier to finance than heavily modified specialist plant, as they hold resale value better.
