Last updated: 18 Aug 2026

Truck finance

Truck finance lets your business spread the cost of a truck or HGV over fixed monthly payments instead of paying for it outright, with hire purchase, finance lease and contract hire all available through our panel of lenders.

Compare real quotes in one application, with a dedicated funding specialist supporting you all the way to completion.

CAPITALISE IS TRUSTED BY 200,000+ UK BUSINESSES

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  • 130+ business lenders

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How does truck finance work?

Truck finance works by a lender funding most of the vehicle's cost, while your business repays it in fixed monthly instalments over an agreed term, usually 1 to 5 years. What happens to the truck at the end of the agreement depends on which type of finance you choose.

You put down a deposit, typically 10% to 20% of the truck's price. The lender then looks at your business credit score, trading history and the vehicle itself before confirming your rate.

Why get truck finance with Capitalise?

  • Better cash flow

    Financing a truck keeps cash in your business rather than tying it up in a single purchase, so you can put working capital towards fuel, drivers or growing your fleet instead.

  • Spread the cost

    Fixed monthly payments make budgeting straightforward, since you know exactly what a truck is costing your business each month rather than facing one large upfront bill.

  • Tax benefits

    Depending on the finance type you choose, truck finance can carry VAT recovery and capital allowance benefits that paying cash upfront does not.

How much does truck finance cost?

The cost of truck finance depends mainly on the price of the vehicle, your deposit, the length of the term and your business credit profile, alongside the age and condition of the truck itself.

Factor

Typical range

Deposit

10% to 20% of the truck's price, though some lenders may require more

Term

1 to 5 years

Rate

Set individually by each lender based on your business and the truck. You can see estimated costs using our asset finance calculator

A bigger deposit brings your monthly cost down, since your business is borrowing less from the outset. Stretching the term has the opposite effect on total interest, it lowers the monthly repayment but adds to what you pay overall, since you are paying interest for longer.

Typically, you'll have several options when it comes to financing a car through your business

What are the different types of truck finance?

  • Hire purchase

    You pay a deposit followed by fixed monthly instalments, with ownership transferring to your business once the final payment clears. VAT is charged upfront on the purchase price, reclaimable if you're VAT registered and the truck is used wholly for business.

    Learn more about hire purchase

  • Finance lease

    You pay a monthly rental to use the truck, usually with an option to buy it at the end of the term. VAT is spread across the monthly payments and reclaimed as you go, rather than charged upfront.

    Learn more about finance leasing

  • Contract hire

    You pay a fixed monthly amount for an agreed term and mileage, then hand the truck back at the end rather than owning it. The rental keeps your monthly cost predictable without VAT charged upfront on the full purchase price.

    Learn more about contract hire

  • Fleet finance

    If you're financing more than one truck, fleet finance groups them under a single agreement and repayment schedule instead of arranging each vehicle separately.

    Learn more about fleet finance

Am I eligible for truck finance?

Most lenders on the Capitalise panel base a decision on the business and the vehicle together, so eligibility usually comes down to a mix of the following.

  • Being an actively trading UK business, sole trader, partnership or limited company, usually with at least a few months of trading history

  • A business credit score that shows your business manages its existing obligations well, though some lenders weigh this less heavily since the truck itself secures the agreement

  • Evidence your business can comfortably afford the monthly repayments

  • A truck that falls within the lender's own criteria for age, condition and value

What documents do you need for truck finance?

Having these ready will speed up your truck finance application:

  • Details of the truck you want to finance, including the registration, make, model and price

  • 6 months of business bank statements

  • Your last set of annual financial accounts

  • Proof of ID for each business owner or director, such as a passport or driving licence

  • Proof of address dated within the last 3 months

  • Your operator's licence number, if the truck you are financing requires one

How do I apply for truck finance?

  • Green circle with a white number "1" in the center.

    Tell us about the truck

    Let us know the make, model and price of the truck you want to finance, and we will start matching you with suitable lenders.

  • Green circle with white number "2" in the center.

    Apply in your business's name

    Tell us about your business and connect your bank statements, or provide your last set of accounts, so lenders can assess your application. This uses a soft search, so it will not affect your credit score.

  • Green circle with the white number 3 in the center.

    Get matched and funded

    A dedicated funding specialist takes your application to the lenders on our panel best suited to your business, and supports you through to completion.

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Ready to apply for truck finance?

Tell us about the truck you want to finance, then apply and compare quotes from our panel of lenders, with a dedicated funding specialist supporting your application from start to finish.

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