How Long Can I Finance a Commercial Vehicle For?

Composite image of trucks in front of a cityscape, with graphs and charts overlaid

With the varying needs of businesses looking for commercial vehicle financing, it’s important to understand typical finance periods and choose an option that supports your operational and financial goals.

Asset Alliance Group is an award-winning finance company specialising in commercial vehicles, including HGVs and LCVs. Knowing the complex landscape in which you operate, we are dedicated to providing financing options and terms that work best for you.

Minimum and maximum financing terms

When financing a commercial vehicle, commercially acceptable terms can be two years or more for trucks and trailers and five years or more for buses and coaches. However, these limitations can be nullified in some instances, especially regarding temporary equipment needs.

Despite what is generally accepted as the conventional finance term, it’s essential to consider what is right for your business – you may require financing for much shorter or longer periods than the average. This also means finding a financier willing to accommodate terms that suit your needs is crucial.

Financing temporary needs

The ebb and flow of demand in various industries, especially around peak seasons like Christmas and Easter, might necessitate procuring additional equipment for a short span.

Rather than traditional finance, businesses may opt for rentals during these peak periods. However, financing might still be preferred if an operator needs specific features or upgrades on their vehicle. Asset Alliance can accommodate such a need, allowing businesses to get the required equipment, even for a shorter period.

With all our experience, Asset Alliance understands that financing a commercial vehicle is influenced by several factors – from market averages to individual business needs to seasonal changes. Whether it’s a short-term rental or long-term finance for a bespoke asset, we have the options to ensure businesses can confidently drive forward.