Top £350,000 Vehicle Finance Lenders in the UK for 2026
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Top 10 vehicle finance lenders for £350,000
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Haulage and logistics firms funding multiple commercial vehicles | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Mid-sized transport businesses expanding vehicle fleets | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established fleet operators with large-scale vehicle funding needs | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Transport firms wanting fixed-rate finance for vehicle purchases | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Comparing leasing options for commercial fleet expansion | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Fleet operators preferring bank-backed vehicle asset finance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-market transport companies funding vehicle acquisitions | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | PEAC Solutions | Included for comparison; vehicle finance for established businesses | Not published | interest 7% to 14.5% annually |
| 9 | Aldermore Asset finance | Broad vehicle funding across transport and fleet sectors | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-established haulage operators with substantial fleet requirements | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance for vehicles is a form of secured lending where the vehicle itself acts as collateral, letting businesses spread the cost of commercial vehicles over time rather than paying upfront. This approach is particularly well suited to transport and logistics firms, where vehicles are revenue-generating assets and tying up working capital in outright purchases can strain cash flow. At £350,000, this level of funding typically supports fleet expansion, HGV acquisitions, or refinancing existing vehicle stock.
Comparing vehicle finance lenders goes beyond the advertised rate. Key factors include whether the lender offers hire purchase or finance lease structures, the loan-to-value ratio applied to the vehicle type, and how residual value is treated at end of term. Early settlement terms and seasonal payment flexibility can matter as much as the headline cost. For £350,000 fleet funding, a lender's experience with commercial vehicle assets often determines how smoothly the application runs.
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: Facility sizes stretch from £100,000 to £5,000,000, suiting transport firms that need to acquire multiple commercial vehicles or a specialist fleet in one transaction. A revolving credit structure lets you draw against asset value as your fleet expands. Rates begin at 0.99% monthly. Expect security and valuation costs on larger facilities.
Best next step: Compare asset-based fleet funding options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit grows with your fleet
- Monthly rates from 0.99%
- Facilities available up to £5,000,000
Need to know
- Security and valuation costs apply
- Limits can be reviewed or withdrawn
- Deposit may be required on assets
Expert take
A secured asset lender built for larger facilities. Transport operators acquiring £350,000 in vehicles benefit from the revolving structure that matches fleet growth patterns. Funding is tied directly to asset value.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Funding decisions land within 24 hours, which helps haulage firms and logistics operators who need to secure vehicles quickly before stock moves. Annual rates run from 11% to 16% and facilities reach £2,000,000, covering single vehicles through to multi-unit purchases. Asset eligibility checks and deposits apply.
Best next step: Get a quick decision on vehicle finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Same-day funding decision typical
- Facilities from £10,000 to £2,000,000
- Covers single vehicles to multi-unit deals
Need to know
- Annual interest from 11% to 16%
- Asset eligibility checks required
- Deposit may be needed
Expert take
A straightforward asset funder that prioritises speed. For transport businesses needing £350,000 in vehicle finance, the 24-hour turnaround and £2M ceiling make it practical for both urgent single purchases and planned fleet additions.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Well-established in commercial vehicle funding, Lombard understands the transport sector's rhythm — from rigid trucks to tractor units and trailers. Monthly rates sit between 4% and 11.5% with facilities available up to £5,000,000. A 24-hour decision window keeps fleet purchases moving. Security is tied to the vehicles being funded.
Best next step: Explore Lombard's vehicle finance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Deep transport sector experience
- Decisions typically within 24 hours
- Facilities available up to £5,000,000
Need to know
- Monthly rates from 4% to 11.5%
- Asset-backed security required
- Deposits and valuations may apply
Expert take
A mainstream asset finance arm with genuine transport heritage. Haulage and logistics firms funding £350,000 in vehicles deal with underwriters who understand fleet economics, residual values, and the seasonal patterns of road transport.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Annual rates from 5.5% to 13.5% keep monthly payments predictable for transport firms financing £350,000 in vehicles. A flexible drawdown structure suits hauliers whose fleet needs shift with seasonal contracts. Facilities reach £5,000,000 and decisions arrive within 24 hours. Asset-backed security and deposits are required.
Best next step: Check rates for seasonal fleet funding.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5.5% to 13.5%
- Flexible drawdown for seasonal demand
- Facilities up to £5,000,000
Need to know
- Asset security required on vehicles
- Costs can rise with increased usage
- Deposits and valuations may apply
Expert take
A flexible funder bridging asset and invoice finance. Transport operators benefit from drawdown structures that match seasonal haulage patterns, and combining vehicle funding with invoice discounting delivers complete working capital coverage.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Entry starts from just £1,000, giving transport startups and smaller operators a foothold in vehicle finance before scaling to larger fleet purchases. Annual rates run 5.5% to 13.5% and funding decisions can arrive in as little as four hours. The equipment leasing structure suits firms wanting off-balance-sheet treatment on commercial vehicles. Full underwriting required.
Best next step: Access vehicle leasing from £1,000 upwards.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Low entry point from £1,000
- Decisions possible in four hours
- Equipment leasing structure available
Need to know
- Annual rates from 5.5% to 13.5%
- Full underwriting assessment required
- May need trading history evidence
Expert take
A leasing specialist with a low barrier to entry. Transport startups testing the water with smaller vehicle commitments can graduate to £350,000 fleet facilities once trading history and affordability are established.
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 transport firms, with annual rates from 8.5% to 14.9% and facilities spanning £1,000 to £25,000,000. For haulage companies funding £350,000 in fleet vehicles, the broad product coverage means you can structure single or multi-vehicle deals through a familiar high-street lender. Bank underwriting takes longer than alternative funders.
Best next step: Speak to Barclays about fleet finance.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-backed asset finance provider
- Facilities from £1,000 to £25,000,000
- Broad product coverage for fleets
Need to know
- Bank underwriting can be slower
- Annual rates from 8.5% to 14.9%
- Strong trading history often expected
Expert take
A high-street bank with deep asset finance capability. For established transport firms with clean credit, Barclays combines competitive annual rates with mainstream-lender stability. Thorough underwriting is the price of bank-grade fleet finance.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: A £15,000 minimum and £5,000,000 ceiling means Acorn can handle everything from a single refrigerated van to a full articulated fleet at the £350,000 level. Annual rates start at 8% with funding decisions typically arriving within 24 hours. The secured asset finance structure ties repayments to the vehicles themselves. Deposits and eligibility checks apply.
Best next step: Compare Acorn's vehicle finance terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Wide range: £15,000 to £5,000,000
- Annual rates starting from 8%
- 24-hour decision turnaround typical
Need to know
- Secured asset finance only
- Deposits and eligibility checks apply
- Valuation costs may be required
Expert take
A broker-led funder with a broad appetite. Transport businesses funding £350,000 benefit from Acorn's access to multiple funding lines, matching the right structure to each vehicle type — HGV, trailer, or light commercial.
PEAC Solutions
Published loan rangeNot published
Rate typeinterest 7% to 14.5% annually
Overview: PEAC Solutions prices each vehicle finance deal on its own merits, with annual rates typically landing between 7% and 14.5%. The 24-hour decision process suits transport operators who need clarity on costs before committing to a £350,000 fleet purchase. Loan range is not publicly listed — terms are quoted case by case. Asset security and deposits apply.
Best next step: Request a tailored vehicle finance quote.
More info
Company stats
Rates and debtor rules
Benefits
- Competitive annual rates from 7%
- 24-hour decision process typical
- Asset-by-asset pricing approach
Need to know
- Full loan range not published
- Asset security required as standard
- Deposits and valuations may apply
Expert take
A case-by-case asset funder pricing each deal on merit. Transport firms with strong vehicle assets and clean credit get individually priced terms. Each facility is quoted to fit the fleet profile.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore backs a broad range of commercial vehicle purchases, from light vans to heavy goods vehicles, with facilities from £1,000 to £10,000,000. Annual rates start at 5% and the 48-hour decision window still works for planned fleet renewals. For transport firms funding £350,000, the lender's SME focus means underwriters are used to owner-operator and mid-size fleet profiles.
Best next step: See Aldermore's commercial vehicle rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates starting from 5%
- SME-focused underwriting approach
- Facilities from £1,000 to £10,000,000
Need to know
- 48-hour decision turnaround
- Asset-backed security required
- Vehicle eligibility criteria apply
Expert take
An SME-focused bank with a genuine appetite for commercial vehicle finance. Owner-operators and mid-tier hauliers funding £350,000 find Aldermore's underwriting more accessible than high-street banks, with rate pricing that rewards clean asset profiles.
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: Bespoke monthly rates from 3.5% to 10% reflect Close Brothers' tailored approach to mid-market transport funding. With facilities stretching from £25,000 to £100,000,000 and a 24-hour decision window, the lender is built for established hauliers and logistics firms whose fleet finance needs run beyond standard hire purchase. A £500,000 minimum turnover typically applies.
Best next step: Explore bespoke fleet finance with Close Brothers.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke rates from 3.5% monthly
- Facilities up to £100,000,000
- Transport sector a stated specialism
Need to know
- £500,000 minimum turnover typical
- Monthly rate structure, not annual
- Full underwriting and security required
Expert take
A mid-market specialist naming transport as a core sector. Well-established haulage firms with £500k-plus turnover deal with underwriters who understand fleet lifecycles, residual values, and the capital intensity of road freight.
Asset Finance Calculator
How asset finance works for commercial vehicle purchases at £350,000
Asset finance lets transport businesses spread the cost of vehicles over time rather than paying the full £350,000 upfront. The two main structures for commercial vehicle purchases are hire purchase and finance lease.
With hire purchase, your business pays fixed instalments over an agreed term. Once the final payment clears, you own the vehicle outright. This suits haulage firms and fleet operators who plan to keep vehicles long term.
With a finance lease, the lender buys the vehicle and your business pays to use it. At the end of the term, you can extend the lease, return the vehicle, or sell it and keep a share of the proceeds. The £350,000 amount sits comfortably within published ranges. Reward Funding handles facilities from £100,000 to £5,000,000, while Liberty Leasing covers £10,000 to £2,000,000.
Rates vary by lender and vehicle type. Reward Funding publishes rates from 0.99% to 3% per month, while Liberty Leasing quotes 11% to 16% per year. Lombard publishes rates from 4% to 11.5% per month, reflecting the bespoke nature of larger vehicle finance agreements.
Lease versus hire purchase for fleet and haulage businesses
Choosing between lease and hire purchase affects ownership, tax treatment, and deposit requirements. For fleet operators and haulage companies financing vehicles at £350,000, the decision often hinges on cash flow and fleet renewal plans.
Hire purchase works well if you intend to own the vehicles. You can claim capital allowances on the asset and write down the value over time. VAT on the purchase price is reclaimable upfront if you are VAT registered.
A finance lease keeps the vehicle off your balance sheet as a fixed asset. Lease payments are typically treated as an operating expense, which can reduce taxable profit. This suits logistics firms that replace vehicles every few years and prefer not to tie up capital in depreciating assets.
Some transport businesses use a mix. They might fund HGVs through hire purchase to build equity, while leasing lighter commercial vehicles to keep monthly costs predictable. Lenders offering asset finance at this level, including Lombard with rates from 4% to 11.5% per month and Close Brothers with bespoke rates from 3.5% to 10% per month, will factor the structure into their terms.
Loan-to-value ratios and deposits on £350,000 vehicle finance for transport firms
The loan-to-value ratio determines how much a lender will advance against a vehicle's purchase price. At £350,000, even small differences in LTV significantly affect the deposit you need.
Where a lender offers 85% LTV, as Reward Funding does, you would need a £52,500 deposit on a £350,000 vehicle. At 90% LTV, available from Close Brothers, the deposit drops to £35,000. Aldermore Asset Finance offers up to 100% LTV on asset finance, which could mean no upfront deposit in some cases, though full financing typically depends on the vehicle type and your business profile.
| Lender | Maximum LTV |
|---|---|
| Reward Funding | 85% |
| Close Brothers | 90% |
| Aldermore Asset Finance | 100% |
Residual value also shapes the deal. Lenders assess what a vehicle will be worth at the end of the agreement. HGVs and specialist vehicles with strong resale markets often attract better rates and higher LTVs than niche or rapidly depreciating assets. Transport businesses with mixed fleets may find LTV offers vary across vehicle categories within the same application.
What transport businesses should prepare before applying for vehicle finance
Lenders will ask for several documents when you apply for vehicle finance at £350,000. Preparing these in advance can speed up the process.
You will need bank statements, management accounts or filed accounts, and details of the vehicles you intend to purchase. If you are refinancing existing fleet assets, lenders will want current valuations. Some lenders set minimum trading history requirements. Aldermore Asset Finance asks for at least six months, while Lombard requires a minimum of one year. Turnover thresholds also apply: Lombard requires a minimum of £25,000, while Close Brothers expects at least £500,000 in annual turnover.
Most asset finance lenders require a personal guarantee from directors, particularly on facilities of this size. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require personal guarantees on asset finance agreements.
A strong application also shows how the vehicles will generate revenue. Haulage firms might present contracts or service agreements. Logistics businesses could include route plans and client commitments. Showing clear, predictable demand for the vehicles strengthens your case.
