Passenger Lift Finance

Spread the cost of a commercial passenger lift installation from £15,000 to £120,000+ with flexible finance options. HP, lease, or refinance, compare rates from 40+ lenders.

Can you finance a passenger lift?

Yes, passenger lifts are financed as a standard asset purchase, usually on hire purchase or a lease, with the machine itself acting as the security. UK prices typically run £15,000 to £120,000, and most deals are written over 36–84 months with a deposit of around 10–20%. Decisions typically take 1–3 weeks. Used machines are financeable too, usually with a shorter term.

Typical Cost

£15k – £120k

Approval Speed

1–3 weeks

Timeline depends on structural works

Rates From

7.0% APR

What would a passenger lift cost per month?

Passenger Lift price (ex VAT) £35,000

Deposit 10%

Agreement term 60 months

Annual interest rate 9%

Balloon payment £0

Your estimate

Indicative only. Not a quote and not an offer of finance.

Pre-filled with a typical passenger lift price. Indicative only, not a quote.

Finance options

Hire Purchase (HP)

Rate: From 7.5% APR
Term: 36–84 months
Deposit: 10–20%
Ownership: Yours at the end
Best for: Building owners wanting to own the lift outright

Finance Lease

Rate: From 7.0% APR
Term: 36–72 months
Deposit: None required
Ownership: Return or buy (balloon payment)
Best for: Retailers and office landlords keeping the cost off balance sheet

Secured Business Loan

Rate: From 8.0% APR
Term: 36–120 months
Deposit: Varies with security offered
Ownership: Yours from day one
Best for: Where the lift is part of a wider accessibility or refurbishment project

Representative example

On a purchase price of £35,000: a 10% deposit of £3,500, then 48 monthly payments of £738 at 5.9% APR representative (fixed). Total amount payable £38,924, including the deposit. The rate you are offered depends on your business and the asset.

What buyers actually specify

Guide prices for sizing a finance agreement, not quotes. Manufacturers in this market mostly price on application, so where a current UK list price could not be confirmed the row describes a specification class rather than naming a model. Your supplier quote is what the agreement is written against.

Machine or specification	Guide price	Type
Platform Lift, stanchion-mounted outdoor	£10,000 – £15,000	Platform Lift (specification class)
Standard Commercial Passenger Lift	£16,000 – £40,000	Passenger Lift (specification class)
Multi-Floor Passenger Lift, glass or feature finish	£40,000 – £120,000+	Feature Passenger Lift (specification class)

Tax benefits

A passenger lift is usually installed as a fixed part of the building it serves, so capital allowances typically follow the integral features rules for fixtures rather than the treatment given to freestanding equipment. AIA can still apply to qualifying lift installations up to the annual cap, but the position depends on the ownership structure of the building and whether the business installing the lift owns the freehold or is fitting out leased premises, which is worth confirming with an accountant before the works start.

Market context

Passenger lifts are bought by retailers, office landlords, hotels, care providers and any business needing to move people, and often goods, between floors, frequently to meet accessibility expectations for staff and customers. Finance is used because a lift is a substantial fixed installation combining the mechanism itself with shaft or structural works, and businesses would rather spread that cost over the years the lift will be in service than fund it entirely from reserves. Replacement is usually driven by a lift reaching the end of its serviceable life or building regulations and accessibility standards moving on, rather than sudden failure, since lifts are kept running under maintenance contracts for decades. There's little secondhand market for complete lift installations given how specific each one is to its building, though refurbishment of an existing lift's mechanism is a common lower-cost alternative to full replacement.

Bad credit?

Several of our 200+ lenders specialise in businesses with imperfect credit histories. You may need a larger deposit or personal guarantee, but options exist. Checking your options here does not affect your credit score, because we do not run a credit search to match you. A lender will run their own checks only if you decide to apply.

Frequently asked questions

Can I finance a lift installation if I lease my premises?

Yes, though as with other fixed building installations, lenders will usually want to see your landlord's consent for the works and understand what happens to the lift if the lease ends before the finance term does. Many retail and office leases already anticipate accessibility improvements like this, so it's often a more straightforward conversation with the landlord than for less common alterations.

Is a platform lift cheaper to finance than a full passenger lift?

Yes, a stanchion-mounted platform lift is typically a lower-cost option than a full passenger lift, since it needs less structural work and a smaller shaft or enclosure. It's a common choice for smaller retail units or where a full lift shaft isn't practical, though it usually has a lower weight capacity and slower travel speed, so it's worth checking it suits your expected usage before committing to the smaller specification.

What deposit is typical for passenger lift finance?

Hire purchase deposits are usually 10–20% of the installation cost. Finance leases often need none, and secured loans are priced around the security offered rather than a fixed deposit figure. Given the scale of most lift projects, it's worth discussing the structure directly with a broker who can compare how different lenders price the deal for your specific building.

How long does it take to get a passenger lift installation financed?

Because a lift installation combines equipment with structural building work, it typically takes longer to arrange than standalone equipment finance, often a few weeks rather than days, as the lender wants to understand the project timeline and how the works are being managed. Starting the finance conversation early in the planning process, alongside getting quotes, tends to avoid delays later.