Transport Fleet Finance UK: HGVs, Tractor Units & Commercial Vehicle Funding

Transport fleet finance is specialist asset finance designed for haulage operators, logistics companies, and commercial vehicle fleets. Instead of buying vehicles outright, you spread the cost over 2–7 years via monthly repayments. The key advantage for transport businesses is the fleet master facility — a pre-approved credit line that lets you draw down for individual vehicles as needed, without submitting a new application each time.

• HGV tractor units — new and used, from Scania, Volvo, DAF, MAN, Mercedes-Benz, and Iveco
• Curtainsider trailers — fixed and moving deck, from major UK bodybuilders
• Refrigerated trailers (reefers) — temperature-controlled for chilled and frozen logistics
• Rigid trucks — 7.5t, 18t, and 26t rigids for distribution and collection
• Vans and Luton boxes — Sprinter, Crafter, Transit, and Iveco Daily variants
• Tankers and bulk trailers — powder, liquid, and tipper applications
• Low loaders and car transporters — specialist haulage equipment
• Forklifts and yard equipment — supporting warehouse and distribution operations

A fleet master facility is a pre-approved credit line (e.g. £2M for 8 vehicles) that you draw down against as each vehicle is procured. Once approved, you can add vehicles to the facility with minimal documentation — often just the vehicle specification and invoice. This eliminates the 5–10 day application cycle for each new truck, which is critical when mobilising new contracts or replacing vehicles that have failed their MOT. The facility can cover a mix of vehicle types and can be topped up as vehicles are added or settled.

Long-term haulage contracts — whether with major retailers, manufacturers, or 3PLs — are powerful supporting documents for finance applications. Several lenders on our panel will lend against the security of a signed contract, factoring contract revenue into affordability. This is particularly valuable for owner-operators expanding to fulfil a new contract that requires additional vehicles. A signed 3-year distribution contract can support a facility that might not otherwise be affordable based on historical accounts alone.

Transport finance requires lenders who understand operator licensing (O-licence) requirements, DVSA compliance, and the Operator Compliance Risk Score (OCRS) system. Our panel includes lenders who understand that a restricted or standard national O-licence places specific obligations on the operator — and that compliance history is a positive indicator for credit decisions. We'll never waste your time with a lender who doesn't understand the transport sector.

Both new and used HGVs are financeable. New tractor units from franchised dealers receive the best rates (typically 5–7%) and longest terms (up to 6 years). Used trucks from dealers, auction, or manufacturer-approved used programmes (like Volvo Selekt or DAF Used) are also accepted — expect rates of 6–9% and terms of 3–5 years depending on age and mileage. Vehicles up to 8 years old at the end of the term are commonly financed. For older vehicles, shorter terms and higher deposits apply.

Owner-operators buying their first truck face unique challenges — limited trading history, no fleet assets to use as security, and often a personal credit profile rather than a business one. We work with lenders who support first-time buyers, particularly where the operator has a signed contract or relevant industry experience. A deposit of 10–20% is typical for first-time owner-operators, reducing as you build a track record with the lender.

Interest rates for HGV and commercial vehicle finance typically range from 5% to 9% depending on vehicle age, business credit profile, and whether contracts support the application. Terms: 2–5 years for used vehicles, 3–6 years for new. Deposits range from 0% to 20%. Fleet facilities available from £25,000 to £10M+. Balloon payments (larger final payments) are available to reduce monthly costs, though this increases total interest paid.