March 13, 2026
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Best Asset Finance Lenders for the Vehicle Repair Industry

Discover the best asset finance lenders tailored for the vehicle repair industry. Get affordable financing options to grow your business effectively.
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Best Asset Finance Lenders for the Vehicle Repair Industry
James Laden
Co-founder and CEO

8 years of experience working with major financial companies in the UK, and now focuses on making business funding simpler for SMEs through a faster, technology-led application journey.

Best Asset Finance Lenders for the Vehicle Repair Industry

For UK franchise buyers and operators, this guide compares loan periods and amounts, APRs, and terms across leading providers, with a focus on eligibility and fit. Amounts that could not be verified are left blank, prices accurate as of 2026-03-13.

1. Funding Agent

Funding Agent provides a broker service focused on comparing business finance options swiftly for UK SMEs. It is usually suited to franchises and small operations needing clear, accessible funding options. The platform offers quick matching based on eligibility with flexible terms and minimal security requirements.

Loan Details

  • Min Amount: £10,000
  • Max Amount: £1,000,000
  • Min APR: 4%
  • Max APR: 20%
  • Loan Duration: 3–60 months

Services & Industries

  • Finance Types: Unsecured business loans, MCA Loans, Working capital
  • Industries: UK SME's

Pros

  • fastest and easiest application process
  • No collateral required

Cons

  • lower track record, only trading 1 year

Sources: Funding Agent

2. Lombard Asset Finance

Lombard Asset Finance offers asset finance primarily through bank channels suitable for a wide range of sectors including vehicle repair. It is generally appropriate for businesses seeking traditional loans with fixed terms and structured repayments. Their products typically require security and cater to borrowers comfortable with standard lending terms.

Loan Details

  • Min Amount: £0
  • Max Amount: £2,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 12–84 months

Services & Industries

  • Finance Types: Hire Purchase, Contract Hire
  • Industries: Automotive, Technology, Manufacturing

Pros

  • Large asset selection
  • Years of experience

Cons

  • APR details not readily available

Sources: Source

3. Star Asset Finance

Star Asset Finance focuses on competitive leasing and hire purchase agreements targeting the automotive sector. It is suited for businesses in vehicle repair looking for straightforward asset finance with flexible lending options. Their services emphasise ease of access and tailored terms without excessive collateral demands.

Loan Details

  • Min Amount: £10,000
  • Max Amount: £250,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Unknown

Services & Industries

  • Finance Types: Asset Leasing, Hire Purchase
  • Industries: Automotive

Pros

  • Competitive terms

Cons

  • Limited loan amounts

Sources: Source

4. Ultimate Finance

Ultimate Finance delivers flexible asset-based lending solutions tailored to diverse business ambitions. It suits businesses requiring customised finance with options for working capital and bridging. Their offerings are designed for clients valuing adaptive terms and a broad approach to collateral and repayments.

Loan Details

  • Min Amount: £0
  • Max Amount: £2,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 12–84 months

Services & Industries

  • Finance Types: Asset Finance, Working Capital Finance, Bridging Finance
  • Industries: Various

Pros

  • Tailored asset finance solutions

Cons

  • Specific APR details missing

Sources: Source

5. Aldermore Bank

Aldermore Bank provides business finance with an emphasis on asset funding to support equipment purchases. It is primarily suitable for SMEs requiring traditional finance products with structured repayment plans. Their approach typically involves collateral and government-backed schemes to enhance flexibility.

Loan Details

  • Min Amount: £0
  • Max Amount: £0
  • Min APR: 3.54%
  • Max APR: 0%
  • Loan Duration: Regular repayments over an agreed period

Services & Industries

  • Finance Types: Asset Finance, Hire Purchase
  • Industries: Agriculture, Manufacturing

Pros

  • Flexible options
  • Government-backed schemes

Cons

  • Limited amount details available

Sources: Source

6. Novuna

Novuna compiles asset finance options focusing on competitive lending with flexible terms and swift fund access. It is well-suited for businesses requiring adaptable funding and moderate loan sizes. Novuna’s solutions often support cash flow management with various repayment structures.

Loan Details

  • Min Amount: £10,000
  • Max Amount: £500,000
  • Min APR: 6.1%
  • Max APR: 0%
  • Loan Duration: Up to 60 months

Services & Industries

  • Finance Types: Asset Finance, Cash Flow Loans
  • Industries: Various

Pros

  • Flexibility
  • Rapid funding availability

Cons

  • Higher APR rates

Sources: Source

7. Pegasus Business Finance

Pegasus Business Finance connects SMEs with financing solutions tailored to specific business growth and operational needs. It suits those looking for personalised options with flexible lending criteria. Their services may include brokered products offering varying security and repayment terms.

Loan Details

  • Min Amount: £0
  • Max Amount: £0
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Unknown

Services & Industries

  • Finance Types: Business Loans, Debt Finance
  • Industries: Various

Pros

  • Custom solutions
  • SME-friendly

Cons

  • Specific amount details missing

Sources: Source

8. NatWest Asset Finance

NatWest Asset Finance offers bank-backed asset finance as part of comprehensive business funding options. This is typically suitable for larger businesses requiring significant capital with longer repayment periods. Their products usually involve structured terms and require security against assets.

Loan Details

  • Min Amount: £25,000
  • Max Amount: £10,000,000
  • Min APR: 9.6%
  • Max APR: 13%
  • Loan Duration: Up to 25 years

Services & Industries

  • Finance Types: Asset Finance, Term Loans
  • Industries: Construction, Retail

Pros

  • High maximum loan amount

Cons

  • Higher APR for SMEs

Sources: Source

9. Forward Asset Finance

Forward Asset Finance is a regional provider offering hire purchase and leasing finance with flexible terms suited for various sectors. It is appropriate for SMEs needing adaptable asset finance solutions with a focus on supporting local businesses. Their products typically involve varied repayment options and accessible application processes.

Loan Details

  • Min Amount: £0
  • Max Amount: £0
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Unknown

Services & Industries

  • Finance Types: Asset Finance, Hire Purchase, Leasing
  • Industries: Automotive, Logistics

Pros

  • Local expertise
  • Flexible solutions

Cons

  • Limited information on loan amounts

Sources: Source

10. Pinewood Asset Finance

Pinewood Asset Finance specialises in bespoke asset finance solutions tailored to individual business requirements. It is suited for SMEs that prioritise personalised service and flexible product design. Their approach typically includes consultative support and customised repayment plans.

Loan Details

  • Min Amount: £0
  • Max Amount: £0
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Unknown

Services & Industries

  • Finance Types: Asset Finance
  • Industries: Various

Pros

  • Bespoke solutions
  • Strong customer focus

Cons

  • Specific finance details lacking

Sources: Source

How to choose

When choosing asset finance lenders for the vehicle repair industry, consider the size of the loan and how the APR fits your financial plans. Check each provider's eligibility criteria carefully to ensure you qualify. Evaluate the speed of funding and how flexible the repayment options are, including whether secured or unsecured finance suits your business. It's important to understand the loan-to-value bands and whether the lender offers brokered access or direct loans. Also, review any fees, early repayment penalties, and customer support to match your operational needs efficiently.

Conclusion

Choosing the right lender depends on your business size, asset value, and financing needs. Banks like NatWest are better suited for larger asset purchases requiring structured loans, while brokers like Funding Agent offer faster access and broader options for smaller loans around 200 thousand pounds. Specialist providers and bespoke lenders deliver flexible terms for unique business circumstances. Funding Agent remains a useful tool for quickly comparing multiple lending options, but all terms should be independently verified before proceeding. Matching lender type to your specific use case will help ensure financing aligns with your business goals.

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FAQs

What is asset finance and how does it work for vehicle repair businesses?
Which types of assets can I finance in the vehicle repair industry?
What are the benefits of using asset finance for vehicle repair businesses?
How do I choose the best asset finance lender for my vehicle repair business?
Can new vehicle repair startups access asset finance easily?
Are there any risks associated with asset finance in the vehicle repair industry?

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1Funding AgentFunding Agent helps UK SMEs compare business finance options fast, with a simple application journey and quick eligibility matching.£10,000–£1,000,000; 4%–20% APR; 3–60 months
2Lombard Asset FinanceLombard offers finance for a range of sectors and assets, including the vehicle repair industry.£0–£2,000,000; 0%–0% APR; 12–84 months
3Star Asset FinanceStar Asset Finance provides competitive terms on automotive equipment finance in the UK.£10,000–£250,000; 0%–0% APR; Unknown
4Ultimate FinanceUltimate Finance offers asset-based lending tailored to the unique needs of businesses, providing funding solutions to help them meet their ambitions.£0–£2,000,000; 0%–0% APR; 12–84 months
5Aldermore BankAldermore Bank offers a range of business finance options, including asset finance, to help businesses fund the purchase of essential assets.£0–£0; 3.54%–0% APR; Regular repayments over an agreed period
6NovunaNovuna Business Cash Flow compiles asset finance quotes to provide competitive lending solutions for businesses, with flexible terms and fast access to funds.£10,000–£500,000; 6.1%–0% APR; Up to 60 months
7Pegasus Business FinancePegasus Business Finance connects SMEs with a tailored range of funding solutions aimed at boosting growth and addressing unique business needs.£0–£0; 0%–0% APR; Unknown
8NatWest Asset FinanceNatWest provides asset finance options as part of their wider business finance solutions, helping companies secure capital for essential assets in various sectors.£25,000–£10,000,000; 9.6%–13% APR; Up to 25 years
9Forward Asset FinanceBased in Glasgow, Forward Asset Finance offers flexible asset finance solutions including hire purchase and leasing options to support cash flow for businesses across Scotland and the UK.£0–£0; 0%–0% APR; Unknown
10Pinewood Asset FinancePinewood Asset Finance specializes in providing bespoke asset finance solutions tailored to the specific borrowing needs of businesses, with a focus on customer service and efficiency.£0–£0; 0%–0% APR; Unknown