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Business Finance

Commercial vehicle finance

Spread the cost of vans, trucks and other vehicles your business needs rather than funding the entire purchase upfront.

Finance at a glance

Key details to help you understand this finance option at a glance.

Purpose

Purchase or finance commercial vehicles used by the business

Finance amount

Subject to vehicle value, business affordability and lender criteria

Finance term

Flexible terms depending on vehicle, finance structure and provider

Suitable for

Businesses purchasing individual vehicles or expanding and replacing fleets

Key note

Finance availability depends on the vehicle’s age, type, value, usage and lender criteria.

What is commercial vehicle finance?

Commercial vehicle finance is a form of asset finance used to fund vehicles required for business operations. Instead of purchasing the vehicle entirely from existing cash, the business can spread the cost over an agreed finance period. Different structures may be available depending on the vehicle and provider. The appropriate arrangement will depend on the business’s circumstances and intended use of the vehicle.

How does commercial vehicle finance work?

Commercial vehicle finance is structured around the vehicle being purchased and the financial circumstances of the business.

Choose the vehicle

Identify the van, truck or specialist commercial vehicle required.

Review the purchase

Consider the vehicle cost, age, supplier and intended business use.

Explore finance options

Suitable finance structures can be considered from available providers.

Complete the purchase

Subject to approval and documentation, the vehicle can be funded under the agreed facility.

What vehicles can be financed?

A broad range of vehicles used for commercial purposes may be considered.

Vans and pick-ups

Vehicles used by trades, delivery companies and service businesses.

Hgvs and trucks

Heavy commercial vehicles used in logistics and transportation.

Taxis, coaches and buses

Passenger transport vehicles used commercially.

Specialist vehicles

Purpose-built vehicles required for specific industries.

Electric and hybrid vehicles

Eligible lower-emission vehicles used for commercial purposes.

Fleet vehicles

Multiple vehicles required for business operations and expansion.

Benefits of commercial vehicle finance

Vehicle finance can help businesses obtain essential transport while retaining more working capital.

Spread the purchase cost

Avoid paying the full vehicle price from business cash reserves.

Preserve working capital

Keep funds available for other operating requirements.

Replace or expand a fleet

Support the acquisition of additional or replacement commercial vehicles.

Structured repayments

Plan vehicle expenditure around an agreed repayment schedule.

Is commercial vehicle finance right for your business?

It may be appropriate where vehicles are essential to business operations and the business prefers to spread their cost.

Trades and service businesses

Companies that rely on vans or pick-ups to deliver services.

Transport and logistics companies

Businesses operating commercial fleets, trucks and specialist vehicles.

Growing businesses

Companies adding vehicles as their operations and customer base expand.

Businesses replacing fleet vehicles

Companies upgrading older vehicles to maintain reliability or efficiency.

The Somerset process

A straightforward, supportive process from initial discussion to completion.

01

Understand

We take time to understand your business, your goals and your finance requirements.

02

Explore

We assess your requirements and explore suitable finance options from available lenders.

03

Apply

We support you through the application process and liaise with the lender as required.

04

Complete

Once the finance is approved and completed, you can move forward with your business plans.

Why Somerset Financial?

Straightforward support to help you explore suitable business finance options for your circumstances.

Finance options explored

We help you explore finance options based on your business requirements and circumstances.

A personal approach

We take time to understand your business, objectives and funding requirements before exploring suitable options.

Tailored to your business

Finance requirements vary from business to business, so we focus on options relevant to your individual circumstances.

Clear guidance

We explain the available options and process clearly, helping you make an informed decision.

Support through the process

We support you through the application process and liaise with the finance provider where required.

Focused on your objectives

Whether you are investing, replacing equipment or managing cash flow, we focus on finance options aligned with your business objectives.