What is vehicle finance and why it matters now

Vehicle finance is the set of commercial funding options businesses use to acquire vans, cars, light commercial vehicles (LCVs), HGVs or entire fleets without funding the full purchase price from cash reserves. Options range from hire purchase and asset loans to operating leases and refinances. For many companies, using finance preserves working capital, spreads the cost over time and can improve cashflow while keeping vehicles operational.

Right now UK businesses face rising vehicle costs, the rapid shift to electric vehicles (EVs) and tighter budgets. A tailored finance solution can help you move to low‑emission vehicles, upgrade fleets or refinance existing assets — quickly and with minimal administration. Fast Business Loans helps you explore these options by matching your company with suitable lenders and brokers.

Vehicle finance options we can help you explore

Hire Purchase (HP)

HP lets your business pay monthly instalments and usually take ownership at the end of the term. Typical deposits, terms and VAT treatment vary by lender and vehicle type; HP suits companies that want ownership without a large upfront cash outlay.

Finance Lease

Finance leases offer long-term finance where a lender retains title and the business uses the vehicle during the lease. This can be useful where you want fixed costs but are comfortable not owning the vehicle outright at the end of the contract.

Operating Lease / Contract Hire

Contract hire is an operating lease popular for fleets that need predictable monthly costs and optional maintenance packages. At term end you usually return the vehicles and can upgrade the fleet.

Chattel Mortgage & Asset Loans

Secured lending against vehicles for businesses that prefer a mortgage-style security arrangement. These are common for high-value trucks or specialist plant.

Vehicle Refinance

Refinance lets you unlock capital tied up in vehicles or restructure monthly payments to better fit cashflow. Useful for businesses looking to consolidate or reduce monthly commitments.

Electric & Low-Emission Vehicle Finance

Specialist lenders and brokers offer EV funding and packages that consider battery warranties, residual values and potential government incentives. If you’re planning an EV rollout, we can introduce you to partners experienced in EV funding and associated infrastructure costs (chargers, installation).

For an in-depth guide to business vehicle funding, see our dedicated pillar resource on /vehicle-finance.

Quick comparison: ownership, typical terms and end-of-term

• Hire Purchase: Ownership at term end; terms typically 1–5 years; deposit often required.
• Finance Lease: Use only; longer terms possible; options vary at end of term.
• Operating Lease / Contract Hire: No ownership; fixed monthly cost; flexible upgrade at term end.
• Asset Loan / Chattel Mortgage: Secured loan for vehicle purchase; usually suits high-value assets.
• Refinance: Unlock capital or change term length; suits established assets.

Eligibility snapshot & documents lenders usually request

Criteria vary by lender; below are common expectations for company vehicle finance (loans from around £10,000 upwards):

• Minimum trading history — many lenders prefer at least 12 months’ trading (exceptions exist).
• Company accounts or management accounts (last 1–3 years / latest months).
• Business bank statements (typically last 3–6 months).
• Details of the vehicles (make, model, age, mileage, quotes or invoices).
• Proof of identity for directors and beneficial owners where required.
• Information about deposits or trade-in values if applicable.

Submit an enquiry and we’ll match you to partners that best fit your profile. Your initial enquiry does not trigger a credit search — lenders only carry out credit checks later with your consent.

How our free matching service works

1. Complete the short enquiry: Tell us about your business, vehicles and the finance you need — it takes under two minutes. Start a Free Eligibility Check.
2. We match you: Your details are shared only with selected lenders or brokers who specialise in your sector and vehicle type.
3. Receive rapid responses: A matched partner will contact you by phone or email to discuss terms and next steps.
4. Compare and decide: Review offers with no obligation and choose the one that best fits your goals.

We only introduce you to lenders and brokers — decisions, applications and contracts are handled directly between you and the provider.

Understanding costs, rates & risk

Vehicle finance pricing depends on multiple factors: vehicle age and type, deposit size, term length, mileage expectations, credit profile, VAT treatment and lender policies. High residual or balloon payments can lower monthly costs but increase the final payment at term end. Representative APRs can vary widely; accurate illustrations come after a lender reviews your full business details and vehicle information.

Fast Business Loans charges you nothing for introductions — our service is free to businesses. Always check the lender or broker’s terms and ask for a full schedule of fees, early‑repayment charges and any maintenance package costs before signing.

Why UK companies choose Fast Business Loans

• Speed — quick matching means lenders contact you fast.
• Choice — access to a broad panel of lenders and specialist brokers for fleets, vans, HGVs and EVs.
• Sector knowledge — we match you to partners who understand your industry’s requirements.
• No obligation — enquiries are free and non‑binding.
• Privacy & security — data is handled securely and only shared with relevant partners.

Ready to see options? Get Quote Now with a Free Eligibility Check.

Vehicle finance use cases by sector

Logistics & Delivery Fleet Upgrade

A regional delivery operator upgraded 12 vans using contract hire with a maintenance package — predictable monthly costs allowed faster expansion without a large capital outlay.

Construction & Trades

Small construction firms often use hire purchase or asset loans to secure work-ready vans and small HGVs, preserving cash for materials and labour.

Passenger Transport & Chauffeur Services

Operators typically need flexible terms and low downtime. Finance leases and tailored HP agreements help operators manage fleet renewal cycles.

Sustainable Fleets & EV Rollouts

Businesses investing in EVs can access finance packages that consider battery warranties and residuals — lenders may also offer combined funding for chargers and installation.

Checklist: get ready for a fast eligibility review

To speed up responses from lenders, have the following ready:

• Company registration number and address
• Recent business bank statements (3–6 months)
• Latest filed accounts or management accounts
• Vehicle details and supplier quotes or invoices
• Estimated deposit or trade-in values
• Contact details for the person handling finance

Expect initial lender contact within one business day in most cases. Start your Free Eligibility Check — it takes less than two minutes.

Frequently asked questions

What types of business vehicle finance can I access through Fast Business Loans?

We introduce companies to lenders and brokers offering hire purchase, finance lease, operating lease/contract hire, asset loans, refinance and EV funding. The right option depends on vehicle type, budget and ownership goals.

Do I need to provide a deposit for vehicle finance?

Many lenders require a deposit, but the amount varies. Some offers allow low or no-deposit arrangements depending on credit profile and the lender’s appetite. Your matched broker will explain options.

Will submitting an enquiry affect my credit score?

No. Completing our enquiry does not trigger a credit search. Lenders or brokers may carry out credit checks later with your explicit consent when you progress an application.

Can newly incorporated companies apply?

Yes — some partners specialise in supporting newer companies, though requirements vary. Evidence of ongoing contracts, cashflow forecasts or deposits can help applications from younger businesses.

How quickly can I receive a vehicle finance offer?

Once matched, many lenders respond within one business day. Final offers depend on documentation, vehicle valuation and lender underwriting times.

Do you arrange electric vehicle finance and charger funding?

Yes. We can match you with lenders and brokers experienced in EV finance and who can discuss combined packages for vehicles and charging infrastructure.

Are the lenders you work with regulated?

We work with a broad panel of UK lenders and brokers. Any regulatory questions should be addressed directly with the provider you are introduced to. Fast Business Loans itself is an introducer and does not provide regulated advice or lending.

What information do I need to provide to get a quote?

Basic business details, vehicle type(s), estimated finance amount and contact information. Having bank statements and vehicle quotes speeds the process and helps lenders provide accurate terms.

Ready to compare vehicle finance options?

Tell us about your business and vehicles and we’ll introduce you to the lenders and brokers who can help. There’s no cost, no obligation and initial enquiries won’t affect your credit score.

Free Eligibility Check — Get Quote Now

If you prefer, contact our support team during business hours and we’ll help you start the enquiry.

Compliance & disclaimer

Fast Business Loans is an introducer that connects UK companies with lenders and brokers. We do not lend money and we do not give regulated financial advice. All finance is subject to status, affordability and lender criteria. Rates, fees and terms vary between providers and examples shown by lenders are illustrative only. Completing our enquiry form is free, non‑binding and does not constitute an application; lenders will carry out formal checks with your consent if you choose to proceed.

For details on how we use your data and to view our privacy policy, please see our website footer links.