Top 10 £950,000 Van Finance Lenders UK 2026: Fleet & Commercial Vehicle Funding
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Top 10 lenders for £950,000 van finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Businesses funding large van fleets with competitive monthly rate structures | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Established firms needing annual-rate van fleet finance up to £2m | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Larger fleet operators requiring substantial van finance with monthly terms | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Businesses wanting annual-rate asset finance for multi-van fleet expansion | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Included for comparison; suits mixed commercial vehicle fleet requirements | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Businesses preferring a high-street bank for van fleet asset finance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-to-large fleets seeking flexible asset finance for van purchases | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Included for comparison; broad vehicle finance with wide rate range | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Fleet operators needing van finance facilities up to £10m | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Large-scale fleet finance with bespoke monthly rates for van acquisitions | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets businesses acquire commercial vehicles by spreading the cost over fixed monthly payments, rather than paying the full purchase price upfront. For van fleet purchases, this approach preserves working capital and keeps cash flow predictable while getting vehicles on the road immediately. At £950,000, this type of facility typically supports funding a complete fleet of vans or a major expansion of an existing commercial vehicle operation.
Comparison goes beyond headline rates when financing a large van fleet at this level. Businesses should examine each lender's experience with high-value commercial vehicle transactions, the flexibility of hire purchase versus leasing structures, and whether the facility can scale with future fleet growth. The maximum lending limit and the lender's appetite for multi-vehicle deals vary meaningfully between providers.
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 a £950,000 van fleet, Reward Funding's asset finance facilities stretch from £100,000 to £5,000,000 with monthly rates starting at 0.99%. Funding lands within 24 hours once approved. The structure suits established businesses that can offer suitable security. Legal and valuation costs may apply depending on the fleet profile.
Best next step: Check your fleet finance terms with Reward Funding
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Large facilities up to £5,000,000
- Low monthly rates from 0.99%
- Fast funding within 24 hours
Need to know
- Security against assets required
- Valuation costs may apply
- Asset eligibility checks needed
Expert take
A secured lender built for larger facilities. For a £950,000 van fleet, the ceiling and rate band align naturally. The 24-hour turnaround keeps fleet acquisition schedules on track.
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 van fleet finance from 11% to 16% annually across facilities of £10,000 to £2,000,000. The asset-backed structure preserves working capital while spreading the cost of a £950,000 fleet over manageable terms. Funding decisions come through within 24 hours. Bear in mind deposits or asset eligibility checks may be required.
Best next step: Explore Liberty Leasing van finance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Preserves working capital
- Spreads fleet cost over time
- Decisions within 24 hours
Need to know
- Deposits may be required
- Asset eligibility checks apply
- Funding tied to specific vehicles
Expert take
A direct asset funder that keeps things straightforward. Annual rates give clarity on total cost for a £950,000 fleet. The quick decision turnaround helps when timing matters on vehicle acquisitions.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard turns around van fleet finance decisions within 24 hours, with facilities reaching £5,000,000. Monthly rates range from 4% to 11.5% for established businesses funding a £950,000 fleet. The asset finance structure ties funding to the vehicles themselves. Deposits and eligibility checks form part of the process.
Best next step: See Lombard fleet finance terms
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Fast 24-hour funding decisions
- High facility limit of £5,000,000
- Asset-backed, preserves cash flow
Need to know
- Deposits may be necessary
- Vehicle eligibility checks required
- Funding tied to asset value
Expert take
A well-established asset lender with deep experience in vehicle finance. A £950,000 van fleet sits comfortably within the upper limits, and the monthly rate structure suits businesses managing fleet operating costs.
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 structures fleet facilities up to £5,000,000 with annual rates from 5.5% to 13.5%. For a £950,000 van purchase, the asset-backed approach can pair with invoice finance if your business has unpaid B2B receivables. Funding decisions arrive within 24 hours. The combined structure works best when cash flow and fleet investment need balancing.
Best next step: Check Time Finance fleet and invoice options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Blends asset and invoice finance
- Facilities up to £5,000,000
- Annual rates from 5.5%
Need to know
- Invoice quality affects eligibility
- Deposits may be required
- Asset security is necessary
Expert take
A hybrid lender blending asset and receivables finance. For a £950,000 fleet, the dual approach can ease cash-flow pressure while funding vehicle acquisition, particularly for B2B operators with strong debtor books.
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 with a 4-hour funding turnaround, the fastest on this list. The equipment leasing structure covers van fleet acquisitions from £1,000 upwards, with annual rates between 5.5% and 13.5%. For a £950,000 fleet purchase, speed and simplicity are the main draws. Expect to provide security and evidence of trading history.
Best next step: View Admiral leasing fleet terms
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Rapid 4-hour funding decisions
- Annual rates from 5.5%
- Covers fleet from £1,000 up
Need to know
- Security may be required
- Trading history evidence needed
- Personal guarantee possible
Expert take
A fast-moving leasing house built for speed. A £950,000 van fleet can be turned around in hours rather than days, which matters when dealers need quick commitment. The rate band is competitive for this turnaround pace.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings mainstream bank backing to van fleet finance, with asset facilities spanning £1,000 to £25,000,000. Annual rates from 8.5% to 14.9% apply. A £950,000 fleet fits naturally within a bank-grade lending framework. Underwriting tends to be more thorough than alternative lenders. Expect affordability checks and potentially a personal guarantee for larger facilities.
Best next step: Explore Barclays asset finance
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-grade lending framework
- Broad facility range up to £25m
- Established brand reputation
Need to know
- Slower bank underwriting process
- Strong trading history expected
- Personal guarantee may apply
Expert take
A high-street bank with deep commercial lending capability. For a £950,000 van fleet, the stability and brand recognition matter to established businesses. The trade-off is a more thorough, less agile underwriting journey.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance supports van fleet purchases from £15,000 to £5,000,000, with annual rates between 8% and 15%. For a £950,000 fleet, the mid-to-upper range aligns naturally. The lender operates across asset finance, revolving credit and secured term loans. Security requirements and trading history evidence are standard for facilities of this size.
Best next step: See Acorn Business Finance fleet options
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Facilities from £15k to £5m
- Multiple finance products available
- Annual rates from 8%
Need to know
- Security against assets required
- Trading history will be checked
- Legal costs may apply
Expert take
A multi-product finance house covering asset, revolving and secured lending. For a £950,000 van fleet, the breadth of products means the structure can adapt if pure asset finance is not the best fit.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Annual rates at Propel Finance start from 5% for van fleet facilities, climbing to 20% based on credit strength. The asset-backed model preserves cash flow while covering purchases from £500 upwards. Funding runs to 2 to 5 days. Deposits and valuations are standard for a £950,000 acquisition.
Best next step: Check Propel Finance fleet terms
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Rates starting from 5% annually
- Asset-backed preserves cash flow
- Small to large facilities available
Need to know
- Deposits typically required
- Valuations may be needed
- Asset eligibility must be checked
Expert take
A flexible asset funder covering the full spectrum from small ticket to large. For a £950,000 van fleet, the starting rate is attractive, though the wide rate band means final pricing depends heavily on proposition strength.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore Asset finance handles facilities from £1,000 to £10,000,000, giving substantial headroom for a £950,000 van fleet. Annual rates range from 5% to 15%. The lender funds within 48 hours, which suits fleet purchases where timing is important but not urgent. Expect a full underwriting process with standard asset finance requirements.
Best next step: Explore Aldermore fleet finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Large facility limit of £10m
- Annual rates from 5%
- Funding within 48 hours
Need to know
- Full underwriting process applies
- Asset security is required
- Product fit needs confirming
Expert take
A well-capitalised lender with extensive SME reach. A £950,000 van fleet lands squarely in the mid-range where Aldermore is most competitive. The 48-hour timeline balances speed with thorough assessment.
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 focuses on established mid-market businesses with £500,000-plus turnover, particularly in transport, manufacturing and construction. Facilities stretch from £25,000 to £100,000,000 with bespoke rates from 3.5% to 10% monthly. For a £950,000 van fleet, the lender's sector experience in transport and logistics adds genuine value. Funding decisions arrive within 24 hours.
Best next step: View Close Brothers fleet finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke rates from 3.5% monthly
- Deep transport sector experience
- Facilities up to £100,000,000
Need to know
- £500k minimum turnover expected
- Mid-market business focus
- Asset security is required
Expert take
A mid-market specialist with serious transport sector credentials. For a £950,000 van fleet, the turnover threshold and sector alignment make this a strong contender for established logistics and distribution businesses.
Asset Finance Calculator
How asset finance works for £950,000 van fleet purchases
When you finance a fleet of vans through asset finance, the vehicles themselves act as security for the lender. This structure makes it easier to secure higher amounts such as £950,000 compared to unsecured borrowing. The lender retains legal ownership until you settle the agreement, while you use the vans for your business from day one.
For fleet acquisitions of this size, several lenders on this page offer facilities well above £950,000. Lombard can fund up to £5,000,000, Reward Funding stretches from £100,000 to £5,000,000, and Close Brothers handles facilities up to £100,000,000. Your requirement sits comfortably within their lending bands.
Most fleet finance agreements run from two to seven years, spreading the cost across the useful life of the vehicles. Fixed monthly payments aid budgeting, and at the end of the term you can buy the vans outright, refinance, or return them depending on the agreement type.
Eligibility criteria for high-value van finance
Lenders assess several factors when you apply for £950,000 in van finance. Trading history and turnover are two key metrics. Lombard requires a minimum of one year's trading and £25,000 in annual turnover. Close Brothers sets a higher bar at £500,000 turnover and one year in business. Aldermore Asset Finance is more accessible, accepting businesses with six months of trading and no minimum turnover requirement.
Personal guarantees are common at this level. Reward Funding, Liberty Leasing, Aldermore, and Close Brothers all require a director's personal guarantee for asset finance. This gives the lender additional recourse if the business cannot meet its repayments.
Your deposit and the lender's loan-to-value ratio also affect eligibility. Reward Funding offers up to 85% LTV, Close Brothers up to 90%, and Aldermore can fund up to 100% of the asset value. A higher LTV means less cash upfront, though rates may reflect the increased risk.
Lease vs hire purchase for commercial van fleets
For a £950,000 van fleet, the two main asset finance structures are finance lease and hire purchase. Both have different implications for ownership, tax treatment, and cash flow.
With hire purchase, you own the vans after making the final payment. You can claim capital allowances on the asset value and writing down allowances each year. Most lenders on this page offer HP terms ranging from one to seven years. Aldermore and Close Brothers both extend to seven-year terms.
A finance lease keeps the vans off your balance sheet. You pay fixed monthly rentals and return the vehicles or extend the lease at the end of the term. VAT is payable on each rental rather than upfront, which can help cash flow.
Rate structures vary. Reward Funding publishes rates from 0.99% to 3% per month. Liberty Leasing quotes 11% to 16% annually. Barclays sits between 8.5% and 14.9% annually. Lombard rates range from 4% to 11.5% per month. Compare the total cost over the full term, not just the headline rate.
What to check before applying for £950,000 van finance
Before you submit an application for fleet finance, clarify exactly what you need and what each lender can deliver. At £950,000, you are likely financing multiple vans, so confirm the lender will fund mixed fleets of new and used vehicles.
Check the deposit requirement carefully. With Aldermore offering up to 100% LTV, you could potentially fund the fleet with no upfront capital. By contrast, Reward Funding at 85% LTV means you will need roughly £142,500 as a deposit on a £950,000 deal.
Term length matters too. Shorter terms mean higher monthly payments but less total interest. Liberty Leasing offers terms from one to five years. Aldermore and Close Brothers both extend to seven years, which lowers monthly outgoings but increases the total interest paid over the agreement.
Finally, ask about early settlement terms and any balloon payment options. These can give you flexibility if you want to refresh your fleet before the agreement ends.
