Top 10 Lenders for £850,000 HGV Finance in 2026
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10 Lenders for £850,000 HGV Finance Compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Large fleet operators seeking low monthly-rate HGV finance | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Mid-sized transport firms wanting transparent annual-rate funding | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established logistics businesses needing up to £5M HGV funding | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing haulage firms comparing long-term fleet finance options | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Mixed-fleet operators needing flexible smaller-ticket HGV leasing | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Transport firms seeking a high-street bank funding comparison | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-market hauliers wanting straightforward HGV asset finance | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Transport operators exploring broad-market HGV funding options | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Logistics firms requiring large-scale fleet expansion capacity | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-established fleet operators with strong turnover history | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets transport businesses fund heavy goods vehicles by spreading the cost over time, with the HGV itself acting as security for the lender. This structure preserves working capital and keeps cash flow predictable, which suits haulage and logistics operators running lean margins on tight delivery schedules. At £850,000, a facility of this size typically supports fleet expansion, vehicle replacement cycles, or refinancing existing assets to unlock equity.
Choosing the right lender goes beyond comparing headline rates. For HGV asset finance, the deposit percentage a lender requires can vary significantly, directly affecting your upfront cash outlay. The maximum vehicle age a funder will accept at term end is equally critical, particularly for older fleet purchases. Rate structure also matters: some lenders quote monthly, others annually, making direct cost comparison essential. Lender appetite for the transport sector specifically can influence everything from credit decisions to the speed of payouts.
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: Lends from £100,000 to £5,000,000 through asset finance structured around vehicle and equipment value. For haulage firms acquiring or refinancing HGVs, the asset itself anchors the deal. Decisions within 24 hours keep fleet purchases moving. Monthly interest from 0.99% to 3% applies, and a deposit or part-exchange may be expected.
Best next step: Compare HGV finance terms from Reward Funding
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities from £100,000 up to £5 million
- Funding decisions within 24 hours
- Secured against vehicle and equipment value
Need to know
- Monthly interest from 0.99% to 3%
- Deposit or part-exchange may be required
- Vehicles must meet lender asset criteria
Expert take
Reward Funding runs a secured lending model where the asset does the heavy lifting. For transport operators needing HGV finance at this level, underwriting is geared around vehicle value rather than complex cash-flow modelling.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Annual interest from 11% to 16% gives transport operators a clear, predictable cost picture when funding HGV acquisitions. Liberty Leasing structures asset finance from £10,000 to £2,000,000 with decisions typically within 24 hours. The annual rate model suits haulage businesses that prefer fixed-cost planning over monthly rate calculations. Asset condition and deposit requirements will influence final terms.
Best next step: Check HGV finance rates from Liberty Leasing
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Clear annual interest rate structure
- Funding available from £10,000 to £2 million
- Decisions typically within 24 hours
Need to know
- Annual rates range from 11% to 16%
- Deposit contribution likely needed for HGVs
- Assets must pass age and condition checks
Expert take
Liberty Leasing is a transparent asset funder whose annual rate model makes cost forecasting simple. For haulage firms funding HGV purchases, the quick turnaround and clear pricing give operators confidence when budgeting fleet expansion.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: A longstanding name in commercial vehicle finance, Lombard understands the rhythm of transport and logistics businesses. Asset finance facilities reach up to £5,000,000, with decisions often returned within 24 hours. For haulage operators replacing or expanding HGV fleets, that industry familiarity can translate into smoother underwriting. Monthly interest from 4% to 11.5% means cost varies with risk profile.
Best next step: Explore Lombard HGV asset finance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Deep experience in commercial vehicle funding
- Facilities available up to £5 million
- Quick decisions, often within 24 hours
Need to know
- Monthly interest from 4% to 11.5%
- Vehicle age and type affect eligibility
- Deposit or security may be required
Expert take
Lombard sits inside the NatWest group and has funded commercial vehicles for decades. A transport operator sourcing HGV finance benefits from underwriters who genuinely know fleet assets, which can mean fewer questions and faster approval.
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 and invoice finance, suiting haulage businesses that juggle fleet investment with customer payment cycles. Asset funding reaches up to £5,000,000, with annual rates from 5.5% to 13.5%. Transport operators who also need to unlock cash from unpaid invoices can manage both through one relationship.
Best next step: View HGV finance and invoice options from Time Finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Asset and invoice finance from one lender
- Annual interest from 5.5% to 13.5%
- Facilities available up to £5 million
Need to know
- Asset finance tied to vehicle condition and age
- Invoice finance depends on debtor quality
- Deposit may be required on HGV assets
Expert take
Time Finance is a multi-product lender suited to transport firms wanting asset and invoice funding from one source. Haulage operators get the convenience of a single relationship and underwriting that sees the full business picture.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Funding decisions in as little as four hours set Admiral leasing apart for transport operators moving quickly on HGV purchases. Equipment leasing starts from £1,000, with annual rates between 5.5% and 13.5%. For haulage firms that spot a fleet deal and cannot wait, that turnaround can secure the asset before a competitor does.
Best next step: Get rapid HGV finance decisions from Admiral leasing
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding decisions as fast as four hours
- Annual rates from 5.5% to 13.5%
- Equipment leasing available from £1,000
Need to know
- Strong trading history typically expected
- Personal guarantee may be requested
- Asset age and condition affect eligibility
Expert take
Admiral leasing runs a speed-first model that suits time-sensitive fleet purchases. Transport businesses chasing HGV finance will value the rapid turnaround, and underwriting is calibrated to keep pace with solid trading histories and quality assets.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: As a high-street bank with an asset finance arm, Barclays brings institutional scale to HGV funding. Lending from £1,000 to £25,000,000 covers single vehicles through to full fleet programmes. Annual rates from 8.5% to 14.9% come with a familiar banking relationship. Bank underwriting can be more thorough and slower than specialist funders.
Best next step: Check Barclays asset finance for HGV purchases
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lending available from £1,000 to £25 million
- Backed by a major high-street bank
- Broad product coverage beyond asset finance
Need to know
- Annual rates range from 8.5% to 14.9%
- Bank underwriting may take longer than specialists
- Strong trading history and affordability checks apply
Expert take
Barclays is a balance-sheet lender whose asset finance division handles large HGV transactions that smaller funders might decline. Transport operators with clean accounts and a solid trading record will find the scale reassuring.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Beyond standard asset finance, Acorn Business Finance brings specialist and acquisition funding lines to the table, which can matter for transport operators growing through fleet purchases or business acquisitions. Annual rates from 8% to 15% apply on facilities from £15,000 to £5,000,000. Decisions typically land within 24 hours.
Best next step: Explore Acorn Business Finance HGV funding options
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Asset finance from £15,000 to £5 million
- Specialist and acquisition funding available
- Decisions typically within 24 hours
Need to know
- Annual rates from 8% to 15%
- Deposit or security likely required
- Strong trading record expected for larger deals
Expert take
Acorn Business Finance is a multi-line funder useful for transport firms needing more than plain asset finance. A haulage operator acquiring a fleet business while funding HGVs may find the breadth of products reduces complexity.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Starting from just £500, Propel Finance keeps the entry point low while scaling to fleet-level HGV purchases. Annual rates span 5% to 20%, reflecting a broad risk appetite suited to transport operators with varying credit profiles. Funding typically lands within two to five days. Vehicle age, condition and trading history will shape the final rate offered.
Best next step: Compare Propel Finance HGV asset finance rates
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Asset finance available from just £500
- Annual rates spanning 5% to 20%
- Funding typically within two to five days
Need to know
- Rate depends on vehicle age and condition
- Trading history influences final pricing
- Deposit contribution likely on larger assets
Expert take
Propel Finance casts a wide net on rate and risk, suiting transport operators whose credit profile does not fit narrow high-street bands. The funding timeline is competitive and pricing flexes to reflect asset quality.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: A 48-hour turnaround on asset finance decisions gives Aldermore a practical pace for transport operators funding HGV purchases. Lending from £1,000 to £10,000,000 with annual rates between 5% and 15%, the lender sits between same-day specialists and slower bank processes. Underwriting is built around vehicle value and the operator's ability to service the agreement.
Best next step: Check Aldermore HGV asset finance terms
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities from £1,000 to £10 million
- Annual interest from 5% to 15%
- Funding decisions within 48 hours
Need to know
- Vehicle age and type affect eligibility
- Deposit may be required on HGV assets
- Trading history checked during underwriting
Expert take
Aldermore is an established asset finance name with a mid-market sweet spot that suits many transport operators. A haulage firm funding HGVs gets a lender comfortable with commercial vehicles and a turnaround that balances speed with sensible underwriting.
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 lends from £25,000 to £100,000,000 with bespoke rates from around 3.5% monthly, suiting larger transport operators funding substantial HGV fleets. Deep mid-market experience spans transport, manufacturing and construction. Decisions typically arrive within 24 hours. Underwriting is relationship-led, so expect a thorough review of financials and fleet plans.
Best next step: Explore Close Brothers HGV fleet finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lending up to £100 million for large fleets
- Bespoke rates tailored to the operator
- Deep mid-market transport sector experience
Need to know
- Minimum facility starts at £25,000
- Thorough financial and fleet plan review
- Bespoke monthly rates from around 3.5%
Expert take
Close Brothers is a relationship-led mid-market funder with genuine transport sector depth. Established haulage operators funding HGVs will find the bespoke approach suits larger transactions, and the underwriting team speaks the language of fleet operations.
Asset Finance Calculator
How asset finance works for £850,000 HGV fleet purchases
Asset finance is the most common way to fund HGV purchases at the £850,000 level. The vehicle itself acts as security for the borrowing, which means lenders can offer larger facilities than unsecured alternatives would allow.
For fleet operators, the two main structures are hire purchase and finance lease. With hire purchase, you own the HGV outright after the final payment. A finance lease keeps the asset on the lender's books, and you pay a fixed monthly rental for an agreed term. This can suit operators who prefer to refresh their fleet regularly.
At £850,000, most lenders on this list can accommodate the facility size. Reward Funding offers up to £5,000,000, while Barclays extends to £25,000,000. Close Brothers, with a maximum of £100,000,000, serves the largest fleet finance requirements.
LTV ratios and deposit requirements for £850,000 HGV finance
The loan-to-value ratio determines how much a lender will advance against an HGV's purchase price or valuation. A lower LTV means you need a larger deposit.
| Lender | Maximum LTV |
|---|---|
| Propel Finance | 100% |
| Aldermore Asset finance | 100% |
| Close Brothers | 90% |
| Reward Funding | 85% |
Vehicle age is another factor. Lenders typically prefer HGVs under seven years old at the point of finance, though some will consider older vehicles on a case-by-case basis. The expected working life of the asset must comfortably outlast the finance term.
Comparing HGV finance rates and terms for fleet operators
Rates for £850,000 HGV finance vary significantly across lenders. On a monthly basis, Reward Funding publishes rates from 0.99% to 3% per month, Close Brothers ranges from 3.5% to 10% per month, and Lombard sits at 4% to 11.5% per month.
Several lenders quote annual rates. Time Finance and Admiral leasing both publish 5.5% to 13.5% annually. Aldermore Asset finance ranges from 5% to 15% annually. Barclays quotes 8.5% to 14.9% annually, while Acorn Business Finance sits at 8% to 15% annually. Liberty Leasing publishes 11% to 16% annually. Propel Finance has the widest band at 5% to 20% annually.
The rate you receive depends on your trading history, the age and type of HGV, the deposit size, and the finance structure. Bespoke pricing, such as Close Brothers' model, is tailored to each transaction.
Tips for securing £850,000 in HGV finance for fleet renewal
Lenders assessing an £850,000 HGV finance application will scrutinise your trading history, turnover, and fleet utilisation. Close Brothers requires a minimum turnover of £500,000 and at least one year of trading. Lombard asks for £25,000 in turnover and one year of trading history.
Personal guarantees are standard for asset finance of this size. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require them.
Prepare management accounts, a fleet schedule, and a cash flow forecast before applying. If your HGVs generate contracted revenue, present those agreements to demonstrate repayment capacity. Working with a broker who understands transport finance can help you navigate lender requirements and secure competitive terms.
