HGVs

    HGV finance for UK hauliers and businesses

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

    HGV finance lets a haulier or any business that runs heavy goods vehicles spread the cost of a truck over a fixed term, so the vehicle can start earning before it is paid for. It is usually arranged as hire purchase, where you own the truck at the end, or as a finance lease.

    We Finance Your Asset is a credit broker, not a lender. We introduce HGV and lorry finance applications to lenders on our panel that understand haulage and commercial vehicles.

    Who can apply for HGV finance?

    • Haulage and logistics companies adding or replacing tractor units and rigids.
    • Owner operators trading as a limited company.
    • Construction, waste, recovery and distribution businesses that run their own trucks.
    • Hauliers who want to release cash from trucks they already own: see asset refinance.

    How does HGV finance work?

    1. 01

      Apply online

      Tell us about your business and the vehicle in our application form.

    2. 02

      We review and approach lenders

      We check the details with you, including your operator's licence and fleet, and introduce your application to lenders on our panel that finance HGVs.

    3. 03

      Decision and payment

      If a lender approves, you sign the agreement with the lender and the lender pays the dealer or seller.

    What can HGV finance cover?

    • Tractor units, from day cabs to sleeper cabs.
    • Rigid trucks: 7.5 tonne, 18 tonne, 26 tonne and above.
    • Tippers, curtainsiders, box bodies, refrigerated rigids and recovery trucks.
    • Specialist bodies and equipment fitted at purchase.
    • New and used HGVs from dealers. For used trucks see our step by step guide on how to finance a used HGV.
    • Trailers to go with them: see trailer finance.

    What documents do you need to apply for HGV 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 HGV 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 HGV 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

    Can I get finance on a used HGV?

    Yes. Used HGVs are commonly financed on hire purchase. Lenders look at the truck's age, mileage and condition and set a maximum age at the end of the agreement, which varies by lender.

    Do I need an operator's licence to get HGV finance?

    In most cases a business that runs goods vehicles over 3.5 tonnes needs an operator's licence, whether it carries its own goods or other people's, and lenders will want to see it. Some vehicles are exempt: check the GOV.UK guidance listed in the sources below and have your licence details ready when you apply.

    Can a new haulage company get truck finance?

    It is possible, but lenders are more cautious with a short trading history. They may ask for a larger deposit, a director's guarantee or evidence of contracts. Read our guide for new limited companies.

    Is hire purchase or lease better for an HGV?

    Hire purchase suits operators who want to own the truck and run it for many years. A lease can suit operators who replace trucks on a fixed cycle. Tax treatment differs, so check with your accountant. See also hire purchase.

    Can I finance several trucks at once?

    Yes. Lenders can finance more than one vehicle for the same business, subject to their assessment. See fleet finance.

    Can I raise cash against trucks I already own?

    Yes, through refinance or sale and leaseback, if the trucks have enough value and any existing finance is settled as part of the deal. See asset refinance.

    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 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.