Transportation expertise
With experience funding a wide range of wheeled assets, we understand the market, your business, and the vehicles you need. With in-house asset management, we've got the expertise to set market-leading valuations.
Why choose Aldermore for transport asset finance?
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Vehicle funding
We can offer a number of funding solutions across various products. With daily payment runs, we're able to quickly release funds to you or your supplier.
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Great service
Our specialist sales, underwriting and operations teams are here to make sure you get the support you need. With dedicated field and office contacts, you've got named support at the end of the phone when you need it.
What is transportation asset finance?
Any vehicles used in a business context, whether they are for employees or heavy goods vehicles (HGVs), are considered assets. These vehicles can often come with a high upfront costs which many businesses wish to spread over a period of time.
This is where asset finance comes in, offering products like hire purchase, leasing (including finance lease, and operating lease), as well as refinancing options for existing assets.
What industries can utilise transport finance?
Any industry or sector that uses vehicles in its day-to-day operations can benefit from transport finance packages. In particular:
- Logistics: Finance for delivery vans, articulated trucks, and last-mile vehicles.
- Public Transport: Funding options for buses, coaches, and fleet upgrades.
- Construction: Finance for dump trucks, cranes, and related vehicles.
- SMEs: Solutions tailored to small transport businesses looking to scale.
Commercial transport assets we can finance:
- Buses, coaches and minibuses.
- Trailers.
- Hybrid or electric vehicles.
- Taxis
- Light commercial vehicles (small to large vans, for example).
- Heavy commercial vehicles (extra-large vans, trucks, lorries)
- Horseboxes and motorhomes
- And much more
Our transportation finance solutions
For new transport assets, we can offer:
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Hire purchase
This is a finance option suitable for businesses looking to purchase and own new vehicles, but want to spread the cost into regular payments rather than paying upfront.
Suitable if you:
- Would like to make the purchase in instalments rather than a bulk sum.
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Lease
We offer two types of leasing for transport: finance lease and operating lease.
Suitable if you
- Finance lease - want to semi-temporarily utilise new vehicles, as a commercial vehicle finance option. Once the lease term runs out, you can either choose to extend it, sell the vehicle, or hand it back
- Operating lease – want the vehicle for a limited time (e.g. a seasonal need). A great way to rent the technology you need without having to worry about maintenance costs.
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Refinancing
For your existing assets, we also offer refinancing to release equity and to produce an injection of cash that can be used to fund a variety of activities.
Suitable if you
- Want help to fund specific business projects
- Want to put a deposit down on new equipment
- Are acquiring a new business
- Are purchasing new assets that may not be suitable for finance.
What are the benefits of transport finance?
Transport finance offers many advantages compared to paying for vehicles outright:
Freeing up cash
Spreading out the cost of new vehicles over multiple months reduces the upfront expense your business faces. This allows you to keep money aside for emergencies or immediate business expenses, while still giving you the ability to utilise the asset.
Accurate financial planning
With a fixed monthly payment, organising and planning your finances becomes a much easier exercise. Knowing what you’re paying each month can make budgeting much easier, especially in the case of fixed-rate vehicle finance.
Tax incentives
Monthly repayments made through vehicle finance can be claimed back as a business expense, making it a tax-efficient approach to acquiring new vehicles.
Our dedicated transportation team are here to support you
James Harrowsmith
Business Development Manager
+44(0)7425 618652 james.harrowsmith@aldermore.co.uk
Transportation asset finance FAQs
Hire Purchase is a popular method of securing vehicles for business purposes, especially if your intentions are to own the vehicle at the end of the term.
Following a deposit being made, monthly payments are then agreed between a business and its lender with a tailored repayment plan. Once the final payment is made, businesses have the opportunity to pay a small fee in order to become the owner of the vehicle.
Finance lease is useful for businesses that wish to frequently exchange their fleet without being tied down to the costs of ownership. Once a lease term ends, businesses can either:
- Hand the equipment back to the lender.
- Sell to a third party and retain a percentage of the sales proceeds.
- Continue renting it after the primary period ends.
An Operating lease is often used by businesses that only require the use of an asset for a specific period of time. Under this agreement, the business pays for the use of a vehicle, and gives it back to the lender when they’re finished.
The lender takes on the majority of the risk in this scenario, as payments are made in proportion to the predicted future residual value of the vehicle. If leasing a particularly sought-after vehicle, for example, the rental payments may be smaller, as the residual value of the asset may either stay the same, or increase.
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Award winning asset finance
We're proud to have been recognised for a number of industry awards:
- NACFB Commercial Lender Awards 2023 - Asset Finance Provider of the Year.
- LeasingWorld Gold Award Winners 2022 - Top Green Asset Funder.
- LeasingWorld Service Excellence Awards 2022 - Winner.
- LeasingWorld Gold Award Winners 2021 - Business Finance Champion.
We're backing the transportation industry
Watch our video
Find out how we helped Sid Sadique, chairman at Electra Commercial Vehicles.
T&Cs will apply, subject to status and affordability. Any asset used as security may be at risk if you do not repay any debt secured on it.