Top 10 Lenders to Secure £400,000 HGV Asset Finance in 2026
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10 lenders offering £400,000 HGV finance compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Haulage firms financing premium HGVs and fleet expansion | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Owner-operators needing flexible HGV finance with fixed annual rates | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established transport companies purchasing or refinancing HGVs | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Fleximize | Transport businesses needing alternative funding alongside vehicle finance | £10,000 to £500,000 | interest 0.9% to 3.6% monthly |
| 5 | One Stop Business Finance | Haulage companies seeking HGV asset finance from £100,000 | £100,000 to £3,000,000 | interest 1.6% to 3% monthly |
| 6 | NatWest Bank | Logistics firms wanting bank-backed HGV asset finance | £500 to £10,000,000 | interest 4.5% to 10.5% annually |
| 7 | Barclays | Large transport operators needing bank-level HGV finance facilities | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 8 | Metro Bank | Transport businesses comparing high-street bank HGV finance | £2,000 to £25,000,000 | interest 9.6% to 9.6% annually |
| 9 | HSBC Bank | Smaller transport firms financing HGVs below £300,000 | £1,000 to £300,000 | interest 8.6% to 11.3% annually |
| 10 | Virgin Money | Transport operators comparing bank-funded HGV purchase options | £30,000 to £10,000,000 | interest 4.5% to 10.5% annually |
Asset finance lets you spread the cost of a heavy goods vehicle over time while the vehicle itself secures the borrowing. For haulage and logistics firms, this means acquiring a £400,000 HGV without tying up working capital that could otherwise fund fuel, wages, and fleet maintenance. It is a practical way to purchase tractor units, rigid trucks, or specialist vehicles while preserving cash flow.
Comparing HGV finance lenders goes well beyond the headline rate. Deposit requirements vary widely and directly affect your upfront cash outlay. Repayment terms should align with the expected working life of the vehicle. Some lenders offer balloon payments to reduce monthly costs, while others specialise in specific HGV types such as artics or tippers. A lender’s direct experience with transport assets also matters when securing £400,000 of funding.
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 heavy goods vehicle finance at scale, Reward Funding writes asset finance facilities from £100,000 to £5,000,000 with monthly rates starting at 0.99%. Funding can be released within 24 hours once approved. The revolving structure suits operators running multiple vehicles or planning phased fleet upgrades. Security is required and legal or valuation costs may apply.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit for fleet operators
- Rates from 0.99% monthly
- Funding released within 24 hours
Need to know
- Security and valuations often required
- Costs may increase with usage
- Tied to specific HGV assets
Expert take
A flexible asset-based lender structuring larger facilities for established businesses. Transport firms funding £400,000 of HGV assets get room to add vehicles over time rather than locking into a single rigid agreement.
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 prices HGV and vehicle asset finance from 11% to 16% annually, making the cost structure predictable for transport operators who prefer fixed annual rates over monthly calculations. Facilities range from £10,000 to £2,000,000 and decisions can arrive within 24 hours. Expect to provide a deposit and agree to asset eligibility checks before drawdown.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual fixed-rate pricing
- Decisions within 24 hours
- Covers vehicles and equipment
Need to know
- Deposit likely required
- Asset eligibility checks apply
- Funding tied to specific vehicles
Expert take
A straightforward asset finance provider that prices using annual rates, making comparisons easier for owner-operators. For a £400,000 HGV purchase, the fixed annual rate gives clear repayment visibility across the full term.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard structures asset finance agreements up to £5,000,000 with monthly rates between 4% and 11.5%, giving haulage businesses room to fund articulated lorries, rigid trucks or specialist heavy goods vehicles under one facility. Funding can land within 24 hours. Asset eligibility checks and deposits are standard conditions of the lending.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £5 million
- Funding within 24 hours
- Covers specialist HGV types
Need to know
- Deposit and valuations needed
- Monthly rate structure applies
- Asset eligibility checks required
Expert take
One of the UK's longest-established asset finance names, with deep experience in commercial vehicle funding. Transport businesses benefit from familiarity with HGV residual values and fleet depreciation when structuring a £400,000 agreement.
Source:https://www.lombard.co.uk/
Fleximize
Published loan range£10,000 to £500,000
Rate typeinterest 0.9% to 3.6% monthly
Overview: Haulage firms that own commercial property can use Fleximize's secured term loans to fund HGV purchases without tying the finance exclusively to the vehicle itself. Monthly rates start at 0.9% on facilities from £10,000 to £500,000. Decisions typically land within 24 hours. A personal guarantee and demonstrable trading history are standard requirements.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 0.9% monthly
- Not tied solely to the vehicle
- Decisions within 24 hours
Need to know
- Personal guarantee may apply
- Strong trading history needed
- Legal and valuation costs possible
Expert take
A secured lender that works well for established transport businesses with property or wider assets to pledge. Operators wanting HGV funding outside a pure asset finance structure will find the flexibility useful, provided trading history is strong.
Source:https://fleximize.com/
One Stop Business Finance
Published loan range£100,000 to £3,000,000
Rate typeinterest 1.6% to 3% monthly
Overview: When seasonal transport demand makes fixed repayments difficult, One Stop Business Finance's revolving credit model lets haulage firms draw, repay and redraw against a secured facility. Monthly rates sit between 1.6% and 3% on lending from £100,000 to £3,000,000. Turnaround runs closer to five days, reflecting the structured underwriting behind each agreement.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit for flexibility
- Facilities up to £3 million
- Suits seasonal haulage demand
Need to know
- Funding takes around five days
- Security is mandatory
- Limits may be reviewed or adjusted
Expert take
A flexible secured lender suiting transport businesses that want a revolving facility rather than a fixed-term HGV loan. The five-day timeline reflects structured underwriting behind larger secured agreements, suiting planned fleet purchases.
Source:https://www.osbf.co.uk/
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NatWest Bank
Published loan range£500 to £10,000,000
Rate typeinterest 4.5% to 10.5% annually
Overview: Established haulage companies with clean credit files tend to fare well with NatWest's asset finance, where annual rates run from 4.5% to 10.5% across a lending band of £500 to £10,000,000. Bank underwriting is more detailed than alternative lenders expect, favouring businesses with solid accounts and a track record. Straightforward applications can get decisions within 24 hours.
Best next step: See lender review
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 4.5%
- High street lender stability
- Broad product coverage
Need to know
- Stricter bank underwriting applies
- Strong trading history expected
- More paperwork than alternatives
Expert take
A high street bank with a dedicated asset finance arm that understands transport sector needs. Established haulage companies with strong financials will find competitive rates, providing they can meet the fuller underwriting paperwork that bank lending demands.
Source:https://www.natwest.com/business/loans-and-finance.html
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays' asset finance division handles HGV funding from single purchases through to full fleet refinancing, with annual rates between 8.5% and 14.9% on facilities from £1,000 to £25,000,000. The broad lending band suits transport operators planning staged growth. Underwriting is thorough and security arrangements are a condition of the facility.
Best next step: See lender review
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Single or fleet HGV funding
- Lending up to £25 million
- Established asset finance team
Need to know
- Thorough bank underwriting required
- Security arrangements apply
- Annual rate structure used
Expert take
A major clearing bank whose asset finance division has significant capacity for transport lending. Haulage firms planning to scale beyond a single £400,000 HGV purchase get the headroom to fund subsequent vehicles under a growing relationship.
Metro Bank
Published loan range£2,000 to £25,000,000
Rate typeinterest 9.6% to 9.6% annually
Overview: Metro Bank prices asset finance at an annual rate around 9.6%, with facilities spanning £2,000 to £25,000,000. The single-rate structure gives transport operators a clear, uncomplicated cost picture for HGV funding. Bank underwriting applies, favouring established businesses with demonstrable affordability. Decisions can arrive within 24 hours where paperwork is complete.
Best next step: See lender review
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Single clear annual rate
- Lending up to £25 million
- Decisions within 24 hours
Need to know
- Bank underwriting is thorough
- Strong affordability evidence needed
- Security arrangements likely required
Expert take
A relationship-led bank that publishes a straightforward annual rate for asset finance. Transport businesses that value pricing clarity and face-to-face banking will appreciate the model; the underwriting bar sits higher than at specialist asset finance houses.
Source:https://www.metrobankonline.co.uk/business/borrowing/
HSBC Bank
Published loan range£1,000 to £300,000
Rate typeinterest 8.6% to 11.3% annually
Overview: HSBC's asset finance covers rigid trucks, trailers and ancillary equipment from £1,000 to £300,000 with annual rates between 8.6% and 11.3%. The bank also offers revolving credit and invoice finance facilities that haulage firms can pair with asset funding for broader working capital management. Underwriting is detailed and turnaround typically runs to 48 hours.
Best next step: See lender review
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 8.6%
- Pairs with invoice finance
- Covers rigid trucks and trailers
Need to know
- Maximum facility £300,000
- Detailed bank underwriting
- Turnaround around 48 hours
Expert take
A global bank whose UK asset finance arm suits transport businesses needing smaller HGV or trailer funding alongside broader banking facilities. Operators running mixed fleets may find HSBC useful for lighter vehicles while sourcing larger HGV finance elsewhere.
Source:https://www.business.hsbc.uk/en-gb/finance-and-borrowing
Virgin Money
Published loan range£30,000 to £10,000,000
Rate typeinterest 4.5% to 10.5% annually
Overview: Transport operators juggling multiple revenue streams may find Virgin Money's combined asset finance and invoice finance useful, with HGV funding available from £30,000 to £10,000,000 at annual rates between 4.5% and 10.5%. Decisions can land within 24 hours. Bank underwriting standards apply, so haulage firms should expect to demonstrate trading history and asset affordability.
Best next step: See lender review
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 4.5%
- Lending up to £10 million
- Invoice and revolving credit too
Need to know
- Bank underwriting standards apply
- Trading history must be shown
- Asset affordability scrutiny expected
Expert take
A mainstream bank with a broad product set that can serve transport businesses holistically. Haulage firms funding a £400,000 HGV through Virgin Money can also access invoice finance against customer payments, creating a working-capital bridge alongside the asset facility.
Source:https://uk.virginmoney.com/business/business-borrowing/
Asset Finance Calculator
What deposit you need for £400,000 HGV finance
Most asset finance lenders funding heavy goods vehicles ask for a deposit, typically between 10% and 25% of the asset value. On a £400,000 HGV, that means putting down £40,000 to £100,000 of your own capital.
Some lenders publish clear loan-to-value limits. Reward Funding, for example, will finance up to 85% of an asset, leaving a minimum deposit of £60,000 on a £400,000 vehicle. One Stop Business Finance caps LTV at 75%, which works out to a £100,000 deposit. Not all lenders publicly confirm their LTV caps, so transport operators should ask this question early.
A larger deposit can also help you access lower rates. Lenders see a stronger commitment from the borrower when more cash is at stake. For haulage firms upgrading their fleet, trading in an existing vehicle can often cover part of the deposit.
Comparing interest rates and repayment terms on £400,000 HGV finance
Lenders price HGV finance differently depending on how they assess risk, the age of the vehicle, and your trading history.
| Lender | Typical rate | Max term |
|---|---|---|
| Reward Funding | 0.99% to 3% per month | 1 year |
| Liberty Leasing | 11% to 16% per year | 5 years |
| NatWest Bank | 4.5% to 10.5% per year | 25 years |
| One Stop Business Finance | 1.6% to 3% per month | 18 months |
Shorter-term facilities from lenders like Reward Funding and One Stop Business Finance suit businesses that want to clear the debt quickly, though monthly costs will be higher. Longer-term options from Liberty Leasing and NatWest spread repayments over several years, easing monthly cash flow but adding more total interest.
For a £400,000 HGV, a five-year term at 11% per year would mean roughly £8,700 in monthly repayments. The same asset over one year at 2% per month would cost around £37,700 per month. Transport firms should model both scenarios against their expected revenue from the vehicle.
How HGV type affects your £400,000 finance application
Not all heavy goods vehicles are treated equally by lenders. Articulated lorries, rigid trucks, tipper trucks, refrigerated units, and specialist vehicles each carry different risk profiles.
Articulated units tend to hold value well and have strong resale markets, making them easier to finance. Specialist vehicles like concrete mixers or tankers may face more scrutiny because the pool of buyers is smaller if the asset needs to be repossessed.
The age of the vehicle also matters. Most asset finance lenders prefer funding newer HGVs, typically under five years old. Older vehicles may still qualify but often attract higher rates or shorter terms.
If you are financing a brand-new £400,000 HGV, you may access better rates and longer repayment periods than you would for a used model at the same price. Haulage firms buying Euro 6 compliant vehicles often find lenders more willing to offer competitive terms because these assets meet current emissions standards and hold stronger resale value.
Hire purchase or lease for a £400,000 HGV: what transport operators should know
The choice between hire purchase and a finance lease affects ownership, tax, and how the vehicle sits on your balance sheet.
With hire purchase, you own the HGV at the end of the term after paying a final balloon payment. The asset appears on your balance sheet and you can claim capital allowances. This suits haulage firms that intend to keep vehicles long term.
A finance lease keeps the asset off your balance sheet. You pay fixed monthly rentals and hand the vehicle back or sell it to a third party at the end of the term. Leasing can work well if you replace your fleet every few years and want to avoid ownership risk.
Operating leases are less common for HGVs but can include maintenance packages, which reduces downtime. The trade-off is usually a higher monthly cost.
For a £400,000 HGV, most transport operators lean towards hire purchase or finance lease. The decision often comes down to whether you want the vehicle on your books and how long you plan to run it.
