Top 10 Lenders to Secure £700,000 HGV Finance in 2026
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Top 10 Lenders for £700,000 HGV Finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Haulage firms funding multiple tractor units or large fleet expansions | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Transport operators needing flexible asset finance across mixed vehicle types | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established logistics businesses seeking competitive rates on HGV fleets | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing transport firms scaling their fleet with structured asset finance | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Hauliers comparing lease and hire purchase options for HGV fleets | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Large logistics firms wanting bank-backed asset finance for fleet investment | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-sized transport companies funding specialist or mixed HGV assets | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Logistics operators seeking flexible asset finance with low starting thresholds | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Transport SMEs needing straightforward asset finance for fleet renewal | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-established haulage companies with strong turnover funding major fleets | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets businesses spread the cost of heavy goods vehicles over time rather than paying upfront. For transport and haulage operators, this preserves working capital while securing essential fleet assets. A £700,000 facility typically covers multiple tractor units, trailers, or a specialist vehicle, helping logistics firms scale operations without tying up cash reserves.
Comparing HGV finance lenders involves more than just the headline rate. Transport businesses should weigh the deposit requirement, the repayment structure over the asset's working life, and whether the lender understands commercial vehicle residual values. Early settlement terms, seasonal payment flexibility, and funding speed also matter for haulage firms managing fleet renewals against contract timelines.
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 this a cost-effective route for haulage firms funding HGVs, trailers, or mixed fleet purchases. Reward Funding structures hire purchase and finance lease deals against the vehicles, so the assets themselves secure the facility without tying up other business capital. Underwriting is quicker than most high-street banks.
Best next step: Compare hire purchase and lease terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 0.99% monthly
- Funds HGVs and trailers
- Asset-backed, not unsecured
Need to know
- Minimum loan £100,000
- Asset valuation required
- Legal costs may apply
Expert take
A commercial asset lender that prices competitively on well-maintained vehicles. For an HGV finance deal at this level, the low monthly rate and asset-backed structure work firmly in a haulier's favour.
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 help logistics operators secure HGVs quickly when fleet replacements cannot wait. Liberty Leasing lends against commercial vehicles and equipment, with annual rates starting around 11%. The trade-off is that rates run higher than some term-based lenders, but speed and asset-backed simplicity often outweigh that.
Best next step: Get an HGV finance decision within 24 hours.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Same-day initial decisions
- Funding from £10,000
- Hire purchase available
Need to know
- Rates start at 11% annually
- Deposit may be needed
- Asset eligibility applies
Expert take
A responsive asset finance provider that prioritises turnaround. Transport firms needing fast HGV funding gain from quick decisions that keep fleet operations moving.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Facilities up to £5 million give growing transport businesses headroom to finance multiple HGVs or specialist heavy vehicles through a single lender relationship. Lombard's asset finance arm is well-established in UK commercial vehicle funding. Monthly interest rates span 4% to 11.5%, so cost varies with credit profile and asset type.
Best next step: Explore HGV funding up to £5 million.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Large facility ceiling
- Established vehicle funder
- Flexible asset types
Need to know
- Rates reach 11.5% monthly
- Deposits often required
- Asset eligibility checks
Expert take
A long-standing name in UK asset finance with deep vehicle funding experience. The high facility ceiling suits haulage firms scaling their fleet, with rate outcomes tied to credit strength.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: A lender that can cover both asset finance for HGVs and invoice finance for haulage receivables under one roof. Time Finance funds vehicles through hire purchase or leasing while also offering working capital against unpaid customer invoices. Annual rates start at 5.5%. The dual-product approach suits operators who need fleet funding and cash-flow support.
Best next step: Combine HGV and invoice finance in one.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Asset and invoice funding
- Annual rates from 5.5%
- Revolving credit option
Need to know
- Invoice quality matters
- Deposit may be needed
- Limits can be reviewed
Expert take
A dual-product lender that bridges asset and working-capital finance. Hauliers who need HGVs and help with debtor books gain a streamlined relationship from one provider.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral Leasing funds everything from single HGVs to mixed commercial vehicle fleets, with facilities starting from £1,000 and scaling upward. Annual rates range from 5.5% to 13.5%, and funding can be arranged within hours for straightforward cases. A practical route for transport firms that value responsive underwriting and broad asset acceptance.
Best next step: Request an HGV lease quote today.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding from £1,000
- Decisions within hours
- Broad vehicle acceptance
Need to know
- Rates up to 13.5% annually
- Trading history expected
- Security may be required
Expert take
An agile equipment lessor comfortable with commercial vehicles at most price points. Transport operators benefit from the lender's speed and willingness to fund varied asset types.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: A high-street bank with a dedicated asset finance division that regularly funds HGVs, trailers, and commercial vehicles for established transport operators. Loan sizes from £1,000 to £25 million mean Barclays can handle single-vehicle purchases or fleet-scale funding. Annual rates typically fall between 8.5% and 14.9%. Bank underwriting standards apply.
Best next step: Apply for bank-backed HGV asset finance.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Trusted high-street brand
- Loans up to £25 million
- Dedicated asset division
Need to know
- Stricter affordability checks
- Personal guarantee possible
- Longer underwriting likely
Expert take
A mainstream bank with a specialist asset finance arm. Established transport firms with strong accounts will find Barclays a credible funding partner for HGV purchases.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance arranges asset-backed funding for HGVs and transport equipment through a panel of specialist lenders, which broadens the range of rates and structures available. Hire purchase, finance lease, and refinance options are all on the table. Loan sizes start at £15,000 and extend to £5 million, with annual rates from 8% to 15%.
Best next step: Compare HGV finance options through a broker.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Multi-lender access
- HP and lease options
- Loans from £15,000
Need to know
- Broker, not direct lender
- Rates from 8% annually
- Valuation may be needed
Expert take
A finance broker that shops the market for HGV asset funding. Transport businesses benefit from choice across multiple lenders, though the final rate depends on the underwriter selected.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Annual rates from as low as 5% give cost-conscious haulage businesses a competitive entry point for HGV asset finance. Propel Finance funds vehicles from £500 upward, so the lender can accommodate everything from a single rigid truck to a multi-vehicle tractor unit order. Underwriting runs over two to five days, slightly longer than instant-decision rivals.
Best next step: Check HGV finance rates from 5%.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Competitive entry rates
- Funds from £500
- Asset finance specialist
Need to know
- Funding in 2-5 days
- Rate varies with profile
- Deposit may apply
Expert take
A volume-focused asset funder with lean pricing on lower-risk deals. Cost-conscious haulage operators gain competitive entry rates in exchange for a slightly longer funding window.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Funding within 48 hours suits transport operators who need to move on a used HGV opportunity before it disappears. Aldermore Asset Finance covers vehicles from £1,000 to £10 million, with annual rates in the 5% to 15% bracket. A challenger bank approach means underwriting can be more pragmatic than legacy high-street lenders.
Best next step: Secure HGV funding in 48 hours.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Challenger bank approach
- Up to £10 million available
- Pragmatic underwriting
Need to know
- 48-hour turnaround
- Rates from 5% annually
- Vehicle condition matters
Expert take
A challenger bank that blends speed with sensible credit judgement. Transport firms needing swift HGV purchases get a middle ground between bank thoroughness and alternative-lender pace.
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: Facilities stretching from £25,000 to £100 million make Close Brothers a natural fit for mid-market and larger transport firms funding substantial HGV fleets. The lender has deep experience in transport and manufacturing sectors. Bespoke rates sit between 3.5% and 10% monthly. Decisions typically land within 24 hours for well-prepared applications.
Best next step: Discuss large-scale HGV fleet finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Up to £100 million lending
- Transport sector experience
- Bespoke rate pricing
Need to know
- Rates are bespoke monthly
- £25,000 minimum loan
- Strong accounts needed
Expert take
A heavyweight in mid-market asset and invoice finance with a transport specialism. Larger haulage firms funding significant fleets find Close Brothers' sector knowledge and facility scale a natural match.
Asset Finance Calculator
Eligibility for £700,000 HGV finance in the UK transport sector
Lenders assess trading history, turnover, and asset value when underwriting heavy goods vehicle finance at this level.
Lombard requires at least one year of trading and £25,000 in turnover. Aldermore Asset Finance accepts businesses from six months of trading with no minimum turnover requirement, which can suit newer haulage operators. Close Brothers typically asks for £500,000 in turnover and a year of trading history.
A personal guarantee is standard across most HGV finance providers. Reward Funding, Liberty Leasing, Aldermore, Time Finance, and Close Brothers all require a director's guarantee. This gives the lender recourse if the business cannot meet repayments.
Because HGVs are tangible assets with measurable resale value, the vehicle itself forms the primary security. Lenders look at fleet age, condition, and market demand for the specific vehicle type. Established operators with long-term haulage contracts and well-maintained fleets typically access the widest range of terms.
Deposits and LTV ratios on £700,000 HGV asset finance
Loan-to-value (LTV) ratios determine how much deposit your haulage business needs to put down on a £700,000 HGV purchase.
Reward Funding publishes LTVs up to 85%, meaning a £105,000 deposit on a £700,000 vehicle. Close Brothers offers up to 90% LTV, reducing the deposit to £70,000. Propel Finance and Aldermore Asset Finance both offer up to 100% LTV on asset finance, which could eliminate the upfront deposit entirely.
In practice, 100% LTV is not automatic. Lenders base their advance on the asset's value rather than the purchase price. New HGVs with strong residual values and predictable depreciation are more likely to attract high-LTV offers. Used or specialist heavy goods vehicles may require a larger deposit.
Transport businesses can sometimes reduce the cash deposit by using sale-and-leaseback on existing fleet assets, effectively releasing equity to fund new vehicle acquisitions.
Rates and repayment terms for £700,000 HGV finance
Heavy goods vehicle finance rates and terms vary significantly by lender. The table below shows published ranges for four providers that serve the UK transport sector.
| Lender | Rate range | Max term |
|---|---|---|
| Reward Funding | 0.99% to 3% per month | 1 year |
| Liberty Leasing | 11% to 16% per year | 5 years |
| Aldermore Asset Finance | 5% to 15% per year | 7 years |
| Close Brothers | 3.5% to 10% per month | 7 years |
Shorter-term facilities, such as Reward Funding's three-month to one-year range, suit businesses flipping vehicles quickly or bridging between contract wins. Longer terms of five to seven years, available through Liberty Leasing, Aldermore, and Close Brothers, spread repayments and reduce monthly outgoings.
HGV finance through Barclays extends to 25 years for some asset finance agreements, offering maximum cash flow flexibility. Admiral leasing offers terms up to seven years with rates from 5.5% per year. Acorn Business Finance provides facilities from three months to six years, with rates from 8% per year.
How to compare HGV finance providers for UK transport businesses
Beyond rates and deposit requirements, several factors matter when choosing a lender for £700,000 heavy goods vehicle finance.
Asset specialism is important. Lenders with dedicated transport desks understand HGV valuations, fleet lifecycles, and industry-specific risks. They are less likely to undervalue specialist vehicles or impose restrictive covenants that clash with haulage operations.
Term flexibility should match your commercial reality. If you run HGVs on three-year logistics contracts, a three-year finance term aligns repayments with income. Seasonal operators may benefit from lenders that offer structured payment profiles with lower instalments during quiet months.
Check fleet age restrictions. Some lenders cap the age of vehicles they will finance or require balloon payments that reflect residual values. Ask about early settlement terms, refinance options on existing fleet, and whether the facility can grow as your fleet expands.
Always compare offers across multiple lenders. A 100% LTV deal at a higher rate may cost more over the term than a lower-rate option requiring a deposit.
