Top 10 Lenders for £350,000 HGV Finance in 2026
.png)
Top 10 Lenders for £350,000 HGV Finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established haulage firms seeking competitive rates on large fleet purchases | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Transport businesses wanting fast decisions on single or multiple HGVs | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Haulage companies needing flexible asset finance from an established name | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Mid-sized transport operators funding fleet expansion with annual-rate finance | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Smaller haulage firms starting HGV acquisition with accessible entry points | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Larger logistics companies wanting bank-backed finance with high lending caps | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Transport operators seeking flexible mid-to-large HGV finance structuring | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | PEAC Solutions | Established haulage firms comfortable with bespoke asset finance arrangements | Not published | interest 7% to 14.5% annually |
| 9 | Aldermore Asset finance | Haulage businesses of all sizes needing HGV finance from a specialist | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Large fleet operators needing bespoke finance for substantial HGV acquisitions | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets haulage and logistics businesses spread the cost of heavy goods vehicles over time, rather than paying the full purchase price upfront. For transport operators, this preserves working capital that would otherwise be tied up in fleet assets. A £350,000 facility can fund a single premium tractor unit, a couple of rigid trucks, or a strategic addition to an existing fleet without draining cash reserves.
Choosing the right HGV finance lender means looking beyond the headline rate. Compare hire purchase against finance lease structures, as each affects VAT treatment and balance sheet positioning differently. Check deposit expectations, which typically range from 10 to 20 per cent on commercial vehicles. Funding speed matters when vehicles are needed for upcoming contracts. Also weigh whether the lender understands transport sector seasonality and can structure repayments to match cash flow cycles.
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 scaling their fleet, Reward Funding provides asset finance facilities from £100,000 to £5,000,000. Its revolving credit structure lets transport businesses draw funds across multiple vehicle purchases, suiting operators who acquire HGVs in stages rather than all at once. Funding decisions come within 24 hours. The security-backed model means deposits and asset valuations form part of the process.
Best next step: Compare HGV finance rates from Reward Funding.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit suits multi-vehicle purchases
- Fast 24-hour funding decisions
- Supports larger facilities with security
Need to know
- Asset-backed so deposits may apply
- Valuation costs can be involved
- Security required for facility approval
Expert take
A flexible asset funder for established hauliers building fleets incrementally. For a £350,000 HGV purchase, the revolving structure means you are not locked into a single transaction and can draw down as fleet needs evolve.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Interest rates from 11% to 16% annually make Liberty Leasing a straightforward cost-to-compare option for transport businesses financing HGVs. Its asset finance product covers facilities from £10,000 to £2,000,000, preserving working capital by linking repayment to the vehicle itself. Decisions are made within 24 hours. Asset eligibility checks and potential deposits are part of the underwriting process.
Best next step: Check HGV finance eligibility with Liberty Leasing.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Transparent annual interest rate structure
- Preserves cash flow for running costs
- Quick 24-hour decision turnaround
Need to know
- Deposits may be required upfront
- Asset eligibility checks apply
- Vehicle valuation needed before approval
Expert take
A no-nonsense asset finance provider suited to haulage businesses that value rate transparency. For a £350,000 HGV deal, the annual interest structure makes cost forecasting simpler than lenders quoting monthly rates.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard has deep experience financing commercial vehicles for UK transport operators, with facilities reaching £5,000,000. Fleet buyers benefit from its long-standing presence in the HGV market and understanding of haulage sector cycles. Decisions typically arrive within 24 hours. Rates fall between 4% and 11.5% monthly, and the asset-backed structure means deposits and valuations form part of the underwriting.
Best next step: Explore Lombard HGV finance options today.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Genuine transport sector expertise
- High facility ceiling for fleets
- Fast 24-hour lending decisions
Need to know
- Monthly interest rate structure applies
- Deposits and valuations required
- Asset eligibility criteria assessed
Expert take
A cornerstone of UK asset finance with genuine haulage sector knowledge. For a £350,000 HGV purchase, Lombard's transport-specific underwriting means your application is assessed by people who understand fleet operating costs and vehicle lifecycles.
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 combines asset finance with invoice finance under one roof, a useful structure for haulage firms that want to fund HGVs while also unlocking cash tied up in unpaid customer invoices. Facilities reach £5,000,000 with annual rates from 5.5% to 13.5%. Decisions come within 24 hours. The dual-product approach means debtor concentration and invoice quality also influence overall terms.
Best next step: See Time Finance asset and invoice funding options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset and invoice finance
- Annual rates aid cost forecasting
- High facility limit for fleet growth
Need to know
- Invoice quality affects overall terms
- Deposits and valuations may apply
- Debtor concentration is assessed
Expert take
A dual-product lender that suits hauliers juggling vehicle finance and cash flow simultaneously. For a £350,000 HGV deal, pairing asset finance with invoice funding can free up working capital while new vehicles start earning.
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 turnaround speed, delivering funding decisions in as little as four hours for transport businesses needing to move quickly on HGV deals. Its equipment leasing product starts from £1,000 with annual rates between 5.5% and 13.5%. The speed advantage suits operators who have identified a specific vehicle and cannot risk losing it to another buyer. Affordability evidence and trading history are typically assessed.
Best next step: Get fast HGV finance decisions from Admiral leasing.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Four-hour funding decisions
- Competitive annual rate range
- Equipment leasing from £1,000
Need to know
- Trading history evidence required
- Affordability assessment applies
- Deposits may be needed
Expert take
A speed-focused leasing provider for hauliers who cannot afford delays. If you have found the right HGV and need a same-day decision, Admiral's four-hour turnaround is among the fastest available for transport asset finance.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays provides asset finance from £1,000 to £25,000,000, giving transport operators access to one of the widest facility ranges in the UK market. Annual rates sit between 8.5% and 14.9%, with decisions typically made within 24 hours. The bank's broad product coverage means hauliers can also access revolving credit and secured loans if needed. Bank underwriting standards apply, so strong trading history and affordability evidence are expected.
Best next step: Check Barclays asset finance for HGV purchases.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Enormous facility range available
- Broad product suite beyond asset finance
- Established high-street banking partner
Need to know
- Stricter bank underwriting applies
- Strong trading history expected
- Personal guarantee may be required
Expert take
A mainstream banking option for established transport firms that meet conventional lending criteria. For a £350,000 HGV purchase, Barclays suits hauliers with clean accounts who value the relationship stability of a high-street bank.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance starts its asset finance range at £15,000 and extends to £5,000,000, making it accessible to mid-sized haulage operators as well as larger fleets. Annual rates range from 8% to 15%, with decisions typically within 24 hours. Its product suite spans asset finance, revolving credit, secured loans and acquisition funding, giving transport businesses room to structure deals around fleet expansion plans. Trading history and affordability checks apply.
Best next step: Compare Acorn Business Finance HGV funding terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Wide product range for transport
- Covers mid-sized to large fleets
- Acquisition funding also available
Need to know
- Trading history evidence needed
- Affordability checks apply
- Security may be required
Expert take
A multi-product lender that gives haulage firms room to structure finance around how they actually buy vehicles. For a £350,000 HGV deal, combining asset finance with acquisition funding under one roof simplifies multi-vehicle fleet planning.
PEAC Solutions
Published loan rangeNot published
Rate typeinterest 7% to 14.5% annually
Overview: With annual interest rates spanning 7% to 14.5%, PEAC Solutions offers a cost band that sits competitively for transport businesses financing HGVs. Its asset finance product ties funding directly to the vehicle, preserving cash flow for fuel, maintenance and driver costs. Decisions are typically made within 24 hours. Loan amounts are not published upfront, so discussion is needed to confirm fit for specific vehicle purchases.
Best next step: Discuss HGV finance rates with PEAC Solutions.
More info
Company stats
Rates and debtor rules
Benefits
- Competitive annual rate band
- Asset-linked preserves cash flow
- 24-hour decision turnaround
Need to know
- Loan range not publicly available
- Vehicle eligibility checks apply
- Deposits and valuations needed
Expert take
A dedicated asset finance specialist with a rate structure that merits comparison. For a £350,000 HGV purchase, PEAC's annual pricing model keeps cost forecasting straightforward and facility limits can be confirmed directly.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore's asset finance operation serves transport businesses with facilities from £1,000 to £10,000,000 and annual rates between 5% and 15%. Funding decisions typically take 48 hours, slightly longer than some competitors but reflecting thorough sector-aware underwriting. The lender's established presence in UK commercial finance means hauliers benefit from assessors who understand vehicle depreciation, mileage impact and fleet operating costs.
Best next step: Explore Aldermore HGV asset finance today.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Strong UK commercial finance presence
- Wide facility range available
- Transport-aware underwriting team
Need to know
- 48-hour decision timeframe
- Thorough underwriting process
- Asset eligibility criteria apply
Expert take
A well-established UK asset funder whose underwriting team understands transport sector economics. For a £350,000 HGV purchase, Aldermore's methodical approach means vehicle age, mileage and manufacturer are assessed with genuine sector knowledge.
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 provides asset finance from £25,000 to £100,000,000, giving large-scale transport operators headroom that few UK lenders match. Its bespoke monthly rates sit between 3.5% and 10%, with decisions typically within 24 hours. The lender has a particular focus on established mid-market businesses with £500,000-plus turnover, especially in transport, manufacturing and construction. For haulage firms running substantial fleets, the high facility ceiling accommodates multi-vehicle programmes.
Best next step: Check Close Brothers HGV fleet finance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Exceptional facility ceiling available
- Focus on transport sector clients
- Bespoke pricing for large deals
Need to know
- Minimum £500,000 turnover expected
- Bespoke monthly rate structure
- Established business requirement
Expert take
A heavyweight in UK asset finance with a deliberate focus on mid-market transport firms. For a £350,000 HGV purchase, Close Brothers suits profitable hauliers who may want to finance multiple vehicles under a single facility over time.
Asset Finance Calculator
Hire Purchase vs Finance Lease for HGV Fleet Finance
When financing a £350,000 HGV purchase, transport businesses typically choose between hire purchase (HP) and a finance lease. Understanding the difference matters because it affects ownership, tax treatment and balance sheet reporting.
With HP, your haulage company pays a deposit and then repays the balance plus interest over an agreed term. At the end, you own the vehicle outright. This suits operators who plan to keep trucks long term and want the asset on their balance sheet. Close Brothers and Aldermore both offer HP structures with maximum LTVs of 90% and 100% respectively, meaning the deposit requirement can be as low as zero in some cases.
A finance lease lets you use the HGV for a fixed period while paying rentals. At the end, you typically sell the vehicle to a third party and may keep a share of the sale proceeds. This can work well for logistics firms that regularly refresh fleet and prefer off-balance-sheet treatment. Liberty Leasing and Time Finance both provide lease facilities suited to this model, with terms running up to five years or longer.
Deposits, VAT and Ownership When Financing HGVs
Most HGV asset finance arrangements require a deposit, typically between 10% and 20% of the vehicle cost. On a £350,000 truck, that means putting down £35,000 to £70,000. However, some lenders offer higher LTV ratios. Aldermore publishes a maximum LTV of 100%, meaning qualified transport businesses could finance the full purchase price without an upfront deposit.
VAT on commercial vehicles is another key consideration. New HGVs attract 20% VAT, which is generally reclaimable if your business is VAT registered. For finance arrangements, the VAT treatment depends on the structure. Under HP, you reclaim VAT on the full purchase price upfront. Under a finance lease, you reclaim VAT on each rental payment as you go. Speak with your accountant before committing to either route, as cash flow timing differs significantly.
Ownership only transfers at the end of an HP agreement, not during it. This means the lender retains title until the final payment clears, which is standard across the market from lenders including Close Brothers, Reward Funding and Lombard.
What Determines Your HGV Finance Rate
The rate you are offered for HGV finance depends on several factors beyond just your credit profile. Vehicle age, mileage and manufacturer all influence the lender's risk assessment. Newer trucks from major manufacturers such as DAF, Scania and Volvo tend to attract lower rates because they hold residual value better and are cheaper to maintain.
Across the lenders on this page, rates vary considerably. Reward Funding publishes rates from 0.99% to 3% per month, while Close Brothers ranges from 3.5% to 10% per month. On an annual basis, Aldermore and Admiral Leasing both publish ranges starting around 5% per year, with Aldermore reaching up to 15% annually. Liberty Leasing sits in the 11% to 16% per year band, and Barclays publishes rates from 8.5% to 14.9% per year. The spread reflects differences in underwriting appetite, asset type and borrower risk profile.
Loan term also affects pricing. Shorter terms often come with lower total interest charges but higher monthly payments. Reward Funding offers terms as short as three months, while Barclays can extend to 25 years for well-qualified transport businesses.
How Haulage Businesses Can Secure Competitive HGV Finance Deals
Transport operators seeking finance for a £350,000 HGV should prepare thoroughly before approaching lenders. Strong financial accounts are essential. Close Brothers requires a minimum annual turnover of £500,000, while Lombard asks for at least £25,000. Most lenders, including Aldermore and Lombard, expect at least six to twelve months of trading history, though Aldermore will consider businesses from six months old.
Personal guarantees are standard across HGV asset finance. Reward Funding, Liberty Leasing, Time Finance, Aldermore and Close Brothers all require directors to provide a personal guarantee. This is typical for asset-backed lending in the transport sector and should be factored into your decision-making.
To improve your chances of approval at competitive rates, present a clear business case showing how the new HGV will generate revenue. Evidence of existing contracts, haulage work and fleet utilisation rates all strengthen your application. Working through a broker can also help, as they can match your profile to lenders with appetite for transport assets. Several lenders on this page, including Lombard and Barclays, only work through intermediary channels for certain deal sizes.
