Fleet vehicles

    Fleet finance for UK businesses

    Reviewed by Luca Scalzo, Director, WFYA Limited · Last reviewed

    Fleet finance is a way to fund several business vehicles, such as cars, vans or trucks, through hire purchase or leasing instead of buying them outright. It helps a growing business add vehicles, replace an ageing fleet or standardise its vehicles while keeping cash for day to day running costs.

    We Finance Your Asset is a credit broker, not a lender. We introduce fleet finance applications from UK businesses to lenders on our panel.

    Who can apply for fleet finance?

    • Businesses running or building a fleet of vans, cars or commercial vehicles.
    • Trades, delivery, facilities, care and service companies with vehicles on the road every day.
    • Haulage and logistics firms adding HGVs and trailers.
    • Companies replacing several vehicles at the same time.

    How does fleet finance work?

    1. 01

      Apply online

      Tell us about your business and the vehicles you need in our application form.

    2. 02

      We review and approach lenders

      We check the details with you, including your current fleet and any existing finance, and approach lenders on our panel that suit a multi vehicle deal.

    3. 03

      Decision and payment

      If a lender approves, you sign the agreement or agreements with the lender and the lender pays the suppliers.

    Should a fleet be on hire purchase or leasing?

    Hire purchase means the business owns each vehicle at the end and can keep it, sell it or trade it in. Leasing, including contract hire, means the business pays to use the vehicles and hands them back or replaces them at the end of the term. Many fleets mix both: hire purchase for vehicles kept for a long time, leasing for those replaced often. See hire purchase vs finance lease for a company van.

    What can fleet finance cover?

    What documents do you need to apply for fleet finance?

    Our application form asks for the information lenders need first, so it helps to have it ready:

    • Your company name and Companies House number.
    • The director's contact details, date of birth and home address history.
    • Details of the asset: what it is, its price, the supplier and, for vehicles, the registration and mileage if known.
    • The deposit you plan to put in and the term you would like.
    • Your last three months of business bank statements, which you can upload with the form.

    Lenders may then ask for more, such as recent accounts, proof of identity or the supplier's invoice, depending on the amount and your business.

    How long does fleet finance take?

    It depends on the asset, the lender and how quickly the documents arrive. The lender then makes its own decision; straightforward applications with complete documents move fastest, while larger amounts, used or specialist assets and newer businesses can take longer.

    What deposit and term should you expect for fleet finance?

    Most agreements involve some upfront payment, and the amount depends on the lender, the asset and your business. Newer businesses, older or specialist assets and larger amounts may need a bigger deposit. Terms are usually set by the expected working life of the asset. We will tell you what the lenders on our panel ask for once we know your details. We do not quote interest rates on this website because the cost depends on your circumstances: see what affects the cost of asset finance.

    Sources

    Checked on 31 October 2026.

    Frequently asked questions

    How many vehicles do I need for fleet finance?

    There is no fixed minimum. Fleet finance simply means financing more than one vehicle for the same business. Lenders assess the total amount against your business's accounts and credit profile.

    Can I add vehicles to my fleet over time?

    Yes. Many businesses finance vehicles in stages as they grow. Each new agreement is assessed on its own and against what the business already owes.

    Is fleet leasing the same as fleet finance?

    Fleet leasing is one type of fleet finance. With leasing the lender owns the vehicles; with hire purchase your business owns them at the end. Both spread the cost over time.

    Can a new business finance a fleet?

    It is harder with a short trading history. Lenders may start with fewer vehicles, ask for a deposit or a director's guarantee, and increase limits as the business builds a record. See our guide for new limited companies.

    Can I mix new and used vehicles?

    Yes. Lenders finance new and used vehicles, each with its own age and mileage limits. Read new vs used asset finance.

    Talk to us about your asset

    Tell us what you want to finance. Our team reviews every application and comes back to you.

    Start your application

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    We Finance Your Asset

    We Finance Your Asset helps businesses grow by making asset financing simple and accessible. Working with multiple lenders to get you the best fit.

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    We Finance Your Asset is a trading name of WFYA Limited (company no. 13810779), registered office Wyvols Court, Basingstoke Road, Swallowfield, Reading RG7 1WY. WFYA Limited (FRN 1023831) is an appointed representative of ITC Compliance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 313486). We are a credit broker, not a lender. We work with a panel of lenders and are not independent. We may receive commission from the lender, which can vary by lender and product; we will tell you about it before you proceed. Finance is subject to status. Business finance for limited companies is not regulated by the Financial Conduct Authority.