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Who Are the Best Vehicle Refinance Lenders in the UK?
Vehicle refinance helps a UK business replace an existing hire purchase or lease on a van, car or HGV, or release cash from vehicles it already owns. The new facility settles the old agreement where needed, and any leftover equity can come back as working capital while the vehicles keep earning.
It sits inside asset refinance and overlaps with vehicle finance and commercial vehicle finance. If you mainly want cash from owned kit, also read asset refinance to release capital.
This guide compares 8 UK lenders with a complete published metric set for vehicle finance, refinance or capital-release routes. Every facility, term, rate and speed figure below comes from the Funding Agent lender database (checked on 6 November 2026). Lenders without a full published metric set are left out. Approval isn't guaranteed.
| Lender | Facility | Term | Speed | Best for |
|---|---|---|---|---|
 Aldermore Asset Finance | £1,000 to £10,000,000 | 12 to 84 months | 48 hours | Hire purchase and asset refinance across vans, plant and clinic equipment. |
 Ultimate Finance | £10,000 to £10,000,000 | 1 to 84 months | 24 hours | Asset and invoice finance for clinics that need kit and cash-flow cover. |
 Close Brothers | £25,000 to £100,000,000 | 12 to 84 months | 24 hours | Larger asset and invoice facilities where turnover and security support mid-market tickets. |
 Bibby Financial Services | £10,000 to £5,000,000 | 12 to 84 months | 24 hours | Asset refinance and hire purchase plus invoice finance where debtors support cash flow. |
 Nationwide Finance | £10,000 to £500,000 | 12 to 60 months | 24 hours | Asset finance and refinance including contract hire where the asset fits. |
 Tower Leasing | £5,000 to £1,000,000 | 24 to 60 months | 2 days | Asset finance for equipment and related tickets in its published band. |
 Tide Bank | £500 to £20,000,000 | 12 to 180 months | 24 hours | Bank business loans and asset finance including short-term and working capital products. |
 Momenta Finance | £50,000 to £2,000,000 | 12 to 72 months | 48 hours | Secured and unsecured business loans plus cash advance where turnover supports it. |
What is vehicle refinance?
Vehicle refinance usually means one of two things:
- Refinancing existing vehicle finance: a new lender settles your current hire purchase or finance lease and starts a new agreement on the same vans, cars or HGVs.
- Releasing equity from owned vehicles: if the vehicles are yours and unencumbered, a refinance or sale and leaseback can advance cash against their value while you keep using them.
It isn't the same as a generic business loan refinance, because the vehicle itself normally supports the facility. For the settlement maths on hire purchase, see how to refinance hire purchase into a new agreement.
How does vehicle refinance usually work?
- List each vehicle with registration, age, condition and whether it's owned or still on finance.
- Get a written settlement figure from the current lender if finance is still open, and note the expiry date.
- Ask funders to value the vehicles and quote a refinance or capital-release structure.
- Compare total repayable, fees, term and end-of-agreement options, not only the monthly figure.
- Let the new funder settle the old agreement direct where needed, then keep the completion statement.
Related reading: top vehicle finance lenders, van finance lenders, HGV finance lenders and asset refinance lenders.
Funding Agent
Lender panel150+ lenders
Average time to funding48 hours
Why it is included: One enquiry can reach vehicle refinance, hire purchase and asset finance desks across a wide UK panel when a single lender isn't the right fit.
Funding Agent is a UK lender and a broker. It can lend directly and also works with a panel of 150+ lenders across business loans, asset finance and invoice finance, so one enquiry can reach several practice and equipment funders.
Best use case: Comparing refinance quotes across several vehicle and asset funders without running separate applications everywhere.
More info
Why it stands out
- A panel of 150+ lenders
- Business loans, asset finance and invoice finance
- An average of 48 hours to funding
Need to know
- Funding Agent is a UK lender and a broker.
- Where Funding Agent lends, it sets the rate, term, fees and decision. Where another lender provides the finance, that lender sets them.
- Approval isn't guaranteed.
Expert take
Use Funding Agent when you want a structured comparison of vehicle refinance options rather than starting with one lender only.
Aldermore Asset Finance
Published facility range£1,000 to £10,000,000
Term12 to 84 months
Overview: Aldermore Asset Finance is in the lender database with hire purchase, finance lease, asset finance and refinance. Metrics below are from that record.
Best next step: Ask for hire purchase or refinance terms against the asset and settlement figure.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Asset Finance
- Published facility range: £1,000 to £10,000,000
- Funding speed in the lender database: 48 hours
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Aldermore Asset Finance is a fit when the asset is clear and you want a specialist asset desk.
Source:https://www.aldermore.co.uk/business/business-finance/asset-finance/
Ultimate Finance
Published facility range£10,000 to £10,000,000
Term1 to 84 months
Overview: Ultimate Finance is listed in the lender database with asset finance alongside invoice and trade products. Facility and term bands below come from that database.
Best next step: Match the facility to the asset invoice or debtor book you need to fund.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Asset Finance
- Published facility range: £10,000 to £10,000,000
- Funding speed in the lender database: 24 hours
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Ultimate Finance works when a practice needs both equipment finance and working capital options.
Close Brothers
Published facility range£25,000 to £100,000,000
Term12 to 84 months
Overview: Close Brothers appears in the lender database with asset finance, refinance, hire purchase and invoice products. Metrics below are from that record.
Best next step: Prepare turnover and asset details before you ask for terms.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Asset Finance
- Published facility range: £25,000 to £100,000,000
- Funding speed in the lender database: 24 hours
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Close Brothers fits established practices seeking larger asset or invoice facilities.
Bibby Financial Services
Published facility range£10,000 to £5,000,000
Term12 to 84 months
Overview: Bibby Financial Services is in the lender database with asset finance, asset refinance, hire purchase and invoice products. Metrics below are from that record.
Best next step: Choose asset refinance or invoice finance based on whether the need is kit or debtors.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Asset Finance
- Published facility range: £10,000 to £5,000,000
- Funding speed in the lender database: 24 hours
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Bibby fits businesses that may need asset refinance alongside receivables finance.
Nationwide Finance
Published facility range£10,000 to £500,000
Term12 to 60 months
Overview: Nationwide Finance is in the lender database with asset finance, refinancing, contract hire and invoice products. Every facility, term, rate and speed figure on this card comes from that record.
Best next step: Share the asset schedule or settlement figure for an illustration.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Asset Finance
- Published facility range: £10,000 to £500,000
- Funding speed in the lender database: 24 hours
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Nationwide Finance suits businesses that need asset finance or refinance with published facility and term bands.
Tower Leasing
Published facility range£5,000 to £1,000,000
Term24 to 60 months
Overview: Tower Leasing is in the lender database with asset finance. Every facility, term, rate and speed figure on this card comes from that record.
Best next step: Ask for an asset finance illustration against the supplier quote.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Asset Finance
- Published facility range: £5,000 to £1,000,000
- Funding speed in the lender database: 2 days
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Tower Leasing fits equipment tickets that sit inside its published facility range.
Tide Bank
Published facility range£500 to £20,000,000
Term12 to 180 months
Overview: Tide Bank is listed in the lender database with asset finance, unsecured business loans, short-term loans and working capital products. Every facility, term, rate and speed figure on this card comes from that record.
Best next step: Speak to the business team with accounts and a clear use of funds.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Essential & Specialist Asset Finance
- Published facility range: £500 to £20,000,000
- Funding speed in the lender database: 24 hours
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Tide Bank suits SMEs that want bank-style products with published facility bands.
Momenta Finance
Published facility range£50,000 to £2,000,000
Term12 to 72 months
Overview: Momenta Finance is onboarded in the lender database with secured and unsecured loans and business cash advance. Every facility, term, rate and speed figure on this card comes from that record.
Best next step: Match the product to whether you need a term loan or cash advance.
More info
Company stats
Eligibility
Facility and speed
Pricing notes
Benefits
- Listed products include Bridging Loan
- Published facility range: £50,000 to £2,000,000
- Funding speed in the lender database: 48 hours
Need to know
- Figures come from the Funding Agent lender database and can change
- Approval is not guaranteed
- Confirm current criteria with the lender before you apply
Expert take
Momenta Finance suits established businesses seeking larger published term bands.
How do you choose a vehicle refinance lender?
Use these checks before you sign:
- Settlement versus equity: if finance is still open, start from the written settlement figure. If vehicles are owned, start from a realistic valuation.
- Total cost: add fees, option-to-purchase costs and any balloon, then compare total repayable.
- Term and ownership: a longer term can cut the monthly figure but raise the total cost.
- Asset fit: some desks prefer cars and vans, others plant-heavy books or six-figure fleets.
- Process: ask who pays the old lender, how long valuations take and what happens if a vehicle is worth less than expected.
Who does vehicle refinance suit?
- Operators stuck on a high hire purchase rate who can show a lower settlement than remaining rentals.
- Fleets with clear title that need a cash injection without selling vehicles.
- Businesses replacing a mixed van and HGV book where one asset-finance desk can re-paper the lot.
It suits less well if you're inside the last few months of an agreement, if the vehicles have little equity, or if you only need cash for costs that aren't linked to the assets.
Conclusion
The best vehicle refinance lender depends on ticket size and whether you are settling an existing agreement or releasing equity. This page lists 8 lenders with a complete metric set in the Funding Agent lender database: Aldermore Asset Finance, Ultimate Finance, Close Brothers, Bibby Financial Services, Nationwide Finance, Tower Leasing, Tide Bank and Momenta Finance. Lenders without published facility, term, rate and speed figures are left out.
Funding Agent is a UK lender and a broker with a panel of 150+ lenders and an average of 48 hours to funding. Compare complete terms before you commit.
This article is for information only and isn't financial advice. Lender metrics were taken from the Funding Agent lender database on 6 November 2026 and can change. Approval isn't guaranteed.
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