Truck Finance

Q: Can I finance a used truck?

Yes. Most lenders finance used trucks up to 10 years old. Rates for used trucks are typically 0.5–1% higher than new. An independent valuation is usually required for vehicles over 5 years old.

Q: What deposit do I need for truck finance?

For hire purchase, most lenders ask for 10–20% deposit. Finance leases and operating leases often require no deposit at all. A larger deposit will reduce your monthly payments and may unlock better rates.

Q: How quickly can I get truck finance approved?

Most truck finance applications are approved within 24–48 hours. For straightforward deals under £75k, same-day approval is possible. Larger fleet deals may take 5–7 working days.

Q: Do I need to have been trading for a minimum period?

Most lenders require 2+ years of trading history. Newer businesses can still access finance but may need a personal guarantee, director's security, or a higher deposit.

Spread the cost of trucks from £30,000 to £150,000+ with flexible finance options. HP, lease, or refinance — compare rates from 40+ lenders.

Typical Cost

£30k – £150k

Approval Speed

24–48 hours

Same-day for < £75k

Rates From

From 4.5% APR

Finance options

Hire Purchase (HP)

Rate: From 4.9% APR
Term: 12–72 months
Deposit: 10–20%
Ownership: Yours at the end
Best for: Businesses wanting to own the truck outright

Finance Lease

Rate: From 4.5% APR
Term: 12–72 months
Deposit: None required
Ownership: Return or buy (balloon payment)
Best for: Tax-efficient — claim 100% of payments against profit

Operating Lease

Rate: From 5.2% APR
Term: 24–60 months
Deposit: None required
Ownership: Return at end
Best for: Keep your fleet modern with latest emission standards. Off balance sheet.

Representative example

Borrow £75,000 over 48 months at 5.9% APR (fixed). Monthly repayment: ~£1,561. Total amount payable: ~£74,928. Rates depend on your circumstances.

Popular models

Model	Price Range	Type
DAF LF 7.5t	£45,000 – £70,000	Rigid Truck
Mercedes Actros	£85,000 – £130,000	Articulated Truck
Volvo FH	£90,000 – £140,000	Articulated Truck
Iveco Eurocargo	£40,000 – £65,000	Medium Rigid

Tax benefits

Trucks qualify for Annual Investment Allowance (AIA), letting you deduct the full purchase cost from taxable profits in year one — up to £1,000,000. HP agreements allow you to claim capital allowances. Lease payments are typically fully deductible as a business expense.

Market context

The UK commercial vehicle market is worth over £8bn annually. HGV registrations reached 47,000 in 2024. The average age of UK trucks on the road is 7.8 years, with many operators planning fleet renewals to meet Euro VI emission standards.

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. Our eligibility check uses a soft search only — no impact on your credit score.

Frequently asked questions

Can I finance a used truck?