Specialist
Lorry Finance and Leasing
For buying and refinancing all types and models of Lorries
For buying and refinancing all types and models of Lorries
High quality lorry finance and leasing solutions for UK & international clients.
We can deliver enhanced, bespoke or exclusive terms through our market knowledge.
Call us on 0203 900 4322 to discuss your requirements.
Lorry finance and leasing are crucial elements in the logistics and transportation sectors of the UK. These heavy commercial vehicles, designed to transport goods across vast distances, are vital for businesses that rely on the timely and efficient movement of products.
In the UK, where the economy is significantly driven by trade and commerce, securing a dependable lorry is not merely beneficial—it’s imperative. This guide is crafted to offer you a comprehensive insight into the financial intricacies of lorry finance and leasing, ensuring that your enterprise is equipped for the logistical challenges that lie ahead. Here’s an overview of what this guide will cover:
Remember, choosing the right finance or lease agreement for a lorry is essential in boosting your business’s logistical capabilities, particularly in an industry where these vehicles are the backbone of daily operations.
Navigating the landscape of lorry finance and leasing in the UK presents a variety of customised options, each designed to meet the unique demands of your haulage operations. Let’s delve into the most common financial avenues for acquiring lorries:
Each option offers a feasible route to outfit your business with the vital lorries needed for efficient transport and logistics. It’s crucial to weigh your business’s specific requirements and financial standing when selecting the most suitable finance or leasing solution for a lorry. At Clifton Private Finance, we’re here to assist in this process. Also, consider the advantages of electric lorries (eLorries) for potential operational cost reductions and environmental benefits.
In the bustling logistics and transport sector of the UK, lorries play a pivotal role in ensuring the smooth operation of businesses. A diverse array of models from renowned manufacturers is available for finance, each offering unique features to cater to various business requirements. Here is a selection of popular lorry models and their approximate price ranges, reflecting the latest market data:
| Vehicle Type | Model | Price Range in UK |
|---|---|---|
| General Haulage Lorries | DAF XF | £95,000 - £115,000 |
| Long Haulage Lorries | Volvo FH | £100,000 - £130,000 |
| Construction Lorries | MAN TGS | £85,000 - £110,000 |
| Distribution Lorries | Mercedes-Benz Actros | £90,000 - £120,000 |
| Specialist Lorries | Scania R-Series | £110,000 - £140,000 |
| Electric Lorries (e.g., Renault Trucks D Z.E.) | Prices vary |
Please note that these prices are indicative and can fluctuate based on the vehicle’s condition, mileage, and specific configurations. It is recommended to engage with dealerships or financial services for the most up-to-date and comprehensive pricing details.
Lorries such as the DAF XF and Volvo FH are highly regarded for their dependability and performance across long distances. The rise of electric lorries, like the Renault Trucks D Z.E., is in line with the growing emphasis on eco-friendliness and the drive to lower carbon emissions in logistics.
When exploring finance options for a lorry, it’s essential to account for the total cost of ownership, which encompasses maintenance, insurance, and any necessary customisations for particular applications. Finance agreements can be customised to include these factors, ensuring that your investment is both efficient and economical for your business operations.
Grasping the tax nuances associated with lorry finance and leasing is vital for the financial stewardship of your UK business. Here’s an insight into how various financing options may influence your tax liabilities:
For lorries dedicated to specific tasks, there are particular tax and regulatory reliefs available. Such vehicles might be exempt from the annual roadworthiness vehicle test under certain conditions. Moreover, the transition to zero-emission fleets, including electric lorries (eLorries), can lead to significant reductions in costs and emissions, aiding in achieving net zero objectives.
Nonetheless, if a lorry with a standard chassis is intermittently repurposed for other uses, it may not be eligible for these exemptions and would be subject to taxation as a standard commercial vehicle.
It’s imperative to consider the total cost of ownership, including tax implications, when selecting a finance or leasing solution for lorries. This ensures that your investment aligns with both operational efficiency and fiscal prudence.
The financial approach to maintaining and insuring a lorry in the UK varies depending on the type of finance or lease agreement in place.
Under a Contract Hire arrangement, the leasing company typically shoulders the responsibility for the lorry’s maintenance and general wear and tear. This ensures regular servicing and maintenance, providing predictable costs and the confidence that the lorry will remain in prime condition for its daily tasks. Conversely, with a Finance Lease agreement, the onus of maintenance falls on your business.
This means your company is responsible for routine servicing and any necessary repairs, offering greater control over the lorry’s upkeep but also adding to your operational workload.
Insurance is a critical aspect, and it’s essential that the lorry is included in your business’s commercial vehicle insurance policy. The policy should be registered in the name of your company, ensuring legal coverage for any authorised driver operating the vehicle.
Understanding these commitments is key when choosing the most appropriate finance or lease option for your lorry. Our expertise in lorry finance can provide you with customised guidance, ensuring that your selection is in harmony with your business’s operational needs and financial planning.
As the term of your lorry asset finance agreement approaches its end in the UK, you’re presented with several key decisions:
It’s essential to evaluate these options in the context of your business’s current and future needs. Whether it’s continuing with a familiar vehicle, updating to a more advanced model, or opting for full ownership, each choice offers distinct advantages and should be considered carefully. Additionally, it’s worth exploring the potential benefits of electric lorries (eLorries), which may provide operational cost savings and align with environmental goals.
Finding the best deal for lorry 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, such as us, can aid you in getting the best deal and the most suitable option for your purchase - we can help:
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 - from minivans to lorries, haulers, lcv or hcv's, and specialised vehicles depending on the business.
If you are interested in buying a lorry 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
I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!
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The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
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Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
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My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.
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