Specialist

HGV finance and leasing

For buying and refinancing heavy goods vehicles (hgv's)

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hcv finance and leasing

Clifton private finance

We specialise in sourcing heavy goods vehicle finance and leasing in the UK

 

High quality HGV finance solutions for UK & international clients.

  • Finance from £25,000
  • Competitive vehicle finance that often outperforms in-house car dealer offers
  • Flexible finance options which includes: Personal loans, Personal contract Purchase (PCP), Hire Purchase, Lease Purchase
  • Tailored bespoke service
  • Refinance options
  • Flexible repayment periods
  • Finance available on new, used and auction bought heavy goods vehicles
  • Business owners - Refinance existing assets to free up your company's liquid capital
  • Business owners - Cashflow matched repayments
  • Asset finance for heavy goods vehicles (hgv's)

We can deliver enhanced, bespoke or exclusive terms through our market knowledge.  

Call us on 0203 900 4322 to discuss your requirements.

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HGV Finance and Leasing

At Clifton Private Finance, we recognise the critical role that Heavy Goods Vehicles (HGVs) play in the UK’s economy. HGVs encompass a broad spectrum of vehicles designed for commercial purposes, typically exceeding 3.5 tonnes in weight. These include lorries, articulated trucks, and coaches, which are essential for the transportation of goods and passengers, supporting sectors from construction to logistics.

here, we'll delve into the specifics of financing and leasing options for HGVs, ensuring your enterprise is equipped to flourish without the hefty upfront costs of vehicle ownership. We will discuss:

Selecting the appropriate heavy goods vehicle with a fitting finance or lease plan is pivotal for augmenting your business operations. With Clifton Private Finance, achieving this is more feasible than you may envisage.

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Different Options Available for HGV Finance and Leasing

We are dedicated to providing customised financial solutions for Heavy Goods Vehicles. Recognising the distinct requirements of each enterprise, we present a suite of finance and leasing options specifically crafted for HGVs. Below are the most favoured choices for financing these vital assets:

Remember, choosing the right finance or lease plan for your heavy goods vehicle can significantly boost your business operations. With Clifton Private Finance, securing the optimal solution is more achievable than ever.

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Popular Types of Heavy Goods Vehicles Available for Finance

At Clifton Private Finance, we understand the importance of heavy goods vehicles for businesses involved in logistics, construction, and transportation. Financing HGVs allows businesses to maintain cash flow while benefiting from the use of the vehicle. Here are some popular types of HGVs, along with indicative price ranges, that can be financed in the UK:

 
Vehicle TypeModelPrice Range in UK
Tractor Units Volvo FH £85,000 - £120,000
Rigid Trucks DAF LF £50,000 - £75,000
Tipper Trucks Scania P Series £70,000 - £100,000
Box Trucks Mercedes-Benz Atego £60,000 - £90,000
Refrigerated Trucks MAN TGL £80,000 - £110,000
Flatbed Trucks Iveco Eurocargo £55,000 - £80,000
Tanker Trucks Renault Premium £75,000 - £105,000
Waste Collection Trucks Dennis Eagle Elite £90,000 - £130,000
Concrete Mixer Trucks Volvo FMX £95,000 - £125,000
Heavy Haulers Scania R Series £100,000 - £150,000

Clifton Private Finance offers a variety of financing and leasing options to suit different business needs and preferences. Whether you’re looking for a Hire Purchase, Finance Lease, or Operating Lease agreement, we can provide tailored advice to help you make the best decision for your business.

Our finance solutions are designed to be flexible, allowing you to manage your HGVs effectively while preserving capital for other business investments.

Tax Implications for HGV Finance and Leasing

At Clifton Private Finance, navigating the tax landscape for Heavy Goods Vehicle finance and leasing is a pivotal aspect of financial management for UK enterprises. We are dedicated to steering you through the complexities to enhance your tax efficiency.

  • VAT on Leasing: For VAT-registered businesses, it’s possible to reclaim 100% of the VAT on lease rental payments for HGVs, provided they are used exclusively for business purposes. If there is private use, the reclaimable VAT may be reduced. Separate maintenance charges invoiced can also have 100% of the VAT reclaimed.
  • Corporation Tax: Companies can claim tax relief on monthly finance payments for HGVs, which can be deducted from the corporation tax bill. The level of relief is influenced by the vehicle’s CO2 emissions, with more efficient vehicles potentially offering greater tax advantages.
  • Vehicle Excise Duty (VED): HGVs are subject to a different VED rate compared to LCVs. The rate is based on various factors, including the vehicle’s weight, type, and usage. As of the 2023/2024 tax year, the VED for HGVs starts at £165 for vehicles up to 3.5 tonnes, with higher rates applicable for heavier vehicles.
  • Capital Allowances: Businesses can claim capital allowances on HGVs, which means a percentage of the vehicle’s cost can be deducted from taxable profits. This is particularly advantageous for HGVs as they are often significant business investments.

It’s crucial to stay updated with the latest tax regulations, as changes can impact the benefits associated with HGV finance and leasing. For example, the UK government’s push towards greener transport means that tax incentives for eco-friendly HGVs may evolve.

We at Clifton Private Finance provide expert advice to ensure that your HGV financing decisions are not only tax-efficient but also perfectly aligned with your business goals. Our team is ready to assist you in comprehending the tax benefits and responsibilities tied to various finance and lease agreements.

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Maintenance and Insurance for HGV Finance

  • Contract Hire: This option includes comprehensive maintenance, servicing, and repairs, ensuring your HGVs are always road-ready. We take care of wear and tear, so you can focus on your business operations without unexpected expenses.
  • Finance Lease: When you choose a finance lease, you assume responsibility for the HGV’s maintenance. It’s crucial to budget for regular servicing and any necessary repairs throughout the lease term. We advise considering a comprehensive maintenance package to manage these costs effectively.
  • Operating Lease: Similar to contract hire, an operating lease often includes maintenance and servicing. This can be particularly advantageous for businesses looking to reduce administrative burdens and ensure vehicle reliability.

Ensuring your HGV is adequately insured is essential. It must be covered under the company’s commercial vehicle insurance policy. We collaborate with select insurance providers to offer competitive rates and cover for individual HGVs or entire fleets, tailored to include both commercial and private use.

It’s important to note that insurance premiums for HGVs can vary based on factors such as vehicle type, intended use, and claims history. We can assist you in finding the right insurance solution that provides the necessary cover while also being cost-effective.

Remember, proper maintenance and insurance are not just regulatory requirements; they are integral to the smooth operation of your business. With Clifton Private Finance, you can rest assured that your HGV finance and leasing arrangements include the necessary provisions to keep your fleet in prime condition.

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End of a Heavy Goods Vehicle (HGV) Asset Finance Plan

At the culmination of an HGV asset finance agreement with Clifton Private Finance, you are presented with several options to proceed in a manner that aligns with your business strategy and vehicle usage:

  • Return: You can return the vehicle to us without any further financial commitments. This option is particularly advantageous if the vehicle was required for a specific project or short-term need.
  • Upgrade: If you wish to keep your fleet modern and efficient, you can apply any equity accrued towards the initiation of a new finance plan for a newer model.
  • Buy Outright: For those who prefer to retain their vehicle for continued use, making the final balloon payment will transfer full ownership of the vehicle to your business.
  • Extend the Lease: Depending on your contract, you may have the opportunity to extend the leasing period, allowing you to continue using the HGV under similar terms.

Each pathway offers distinct benefits and considerations, such as the overall costs, the specific requirements of your business, and the condition of the HGV at the end of the finance term. We at Clifton Private Finance are committed to providing you with comprehensive support and advice, ensuring a seamless transition at the conclusion of your finance plan.

For bespoke guidance on HGV maintenance, insurance, and end-of-plan options, Clifton Private Finance is your trusted ally. Whether you’re ready to discuss the next steps or have other queries, we’re here to assist you every step of the way.

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Using a Finance Broker to Help

Finding the best deal for HGV finance and leasing can be challenging, especially if you are not familiar with the different options, terms, and conditions. That’s why using a finance broker can help you get the best deal and the most suitable option for your purchase. At Clifton Private Finance, we can help you: 

At Clifton Private Finance, we are a leading finance broker in the UK, and we specialise in commericial vehicle finance. We have access to multiple asset finance lenders, and we always compare the best options to offer you bespoke finance solutions that suit your needs and budget. We can also help you with any type of commericial vehicle or heavy goods vehicle - from long-haulers to trucks, and specialised vehicles depending on the business.

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If you are interested in buying a HGV on finance, contact us today and speak to one of our expert advisers. We will be happy to answer any questions you may have, and provide you with a free, no-obligation quote. We look forward to hearing from you soon. 


Call us today to discuss your requirements on 0203 900 4322

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