Decorative image, for Asset Finance

Business vehicle finance

Whether you need cars, trucks, Heavy Goods Vehicles (HGVs) or buses to keep your business moving, our vehicle finance options can help.

How can vehicle finance help your business?

Buying commercial vehicles is a significant investment for any business but you don’t need to pay the full cost upfront. Vehicle finance allows you to pay monthly over different time periods to suit your business. So, you get all the benefits of using new or upgraded vehicles straight away, without impacting your business’ cash flow.

Ready to choose your vehicle finance?

Why finance commercial vehicles?

Fund what you need

Grow your business with vehicles that improve productivity, efficiency or sustainability.

Spread the cost

Pay monthly instead of tying up cash reserves or impacting cash flow.

Choose your finance

Choose from hire purchase or leasing options with terms up to 120 months.

Is your business eligible?

You can apply for Asset Finance if:

  • You are a new or existing Lloyds Bank customer
  • Your turnover is more than £100,000 per annum
  • You have been trading for a minimum of 13 months
  • You are UK-based
  • The asset is for use in your business.

Keep in mind

  • Assets and suppliers will be subject to a vetting process
  • You’ll be responsible for maintenance, repairs and keeping the asset insured
  • If you decide to go ahead, it will be subject to an affordability assessment and full credit reference agency check
  • Assets may be repossessed if you don’t keep up your repayments.

What type of vehicle finance is right for you?

There are different ways to fund your vehicle depending on what it is, whether you’re buying new or used, and if you prefer to hire your vehicle or want to own it at the end of the agreement.

Business Hire Purchase

Our most popular vehicle finance option helps you spread the cost.

  • Option to own at end.

  • New or used.

  • All types of vehicles.

  • Fund up to 90% of price.

  • 12 to 60 months.

More about Hire Purchase

Finance Lease

An affordable way to lease vehicles without owning them.

money file

  • Extend or sell at end.

  • New or used.

  • All types of vehicles.

  • Fund up to 100% of price.

  • 12 to 60 months primary lease.

Request a callback

Vehicle Contract Hire

A cost-effective way to lease brand-new cars without owning them.

  • Return vehicle at end.

  • New only.

  • No deposit.

  • 24 to 60 months.

More about Contract Hire

Other car finance options

 

Commercial vehicles we finance

Our team of experts can tailor a vehicle finance solution to fit your commercial transportation needs including:

  • Vans, trucks and other Light Commercial Vehicles
  • HGVs
  • Commercial trailers
  • Forklift trucks
  • Buses and coaches
  • Tractors
  • Taxi cabs
  • Hybrid and electric vehicles
 

Video:

Let's talk about Hire Purchase

Lloyds Bank have been providing asset finance solutions for many years. We’ve got a team of specialists to ensure you get the right support and the help you need to choose the best solution for your business.

Frequently asked questions

  • The vehicles that you use to carry out your day-to-day operations are classed as a business asset. Commercial vehicle finance is a type of asset finance that allows you to spread the cost of the vehicle over time. This helps manage cash flow as you won’t have to pay the full cost upfront and makes budgeting easier as you’ll pay monthly costs instead.

  • You can use Hire Purchase or Finance Lease for most types of new or used vehicles for your business, subject to qualifying criteria, including:

    • Cars
    • Buses
    • Coaches
    • Light Commercial Vehicles (LCVs)
    • Heavy Commercial Vehicles (HGVs)
    • Commercial vehicle trailers
    • Tractors
    • Forklift trucks
    • Motor caravans
    • Motorcycles
    • Taxi cabs

    If you want to lease a new vehicle through Contract Hire, you’ll need to check what your contract hire provider offers and their terms and conditions. Our partner, Lex Autolease, has relationships with all the leading vehicle manufacturers and can offer extensive leasing options on new vehicles up to 3.5 tonnes.

  • Vehicle finance is used solely for buying or leasing a specific agreed vehicle. It uses the value of the vehicle as the security for the finance you need to borrow to buy or lease it. At the end of your agreement, you’ll have different options including owning your vehicle, returning it, selling it or extending your lease.

  • Pricing is tailored on the asset you want to buy or lease.