Do UK Business Loans’ partners fund electric vehicles for business fleets? (Overview)

Quick overview: Our partner brokers and lenders commonly fund EV fleets — from single vans to multi‑vehicle rollouts — using a range of finance products. Availability and terms depend on the vehicle (new vs used, make/model), finance product, residual values, and the business’s financials and sector.

Types of vehicles covered: electric cars (company cars / pool cars), light commercial vans (e.g. EV vans used by trades, delivery), medium and heavy goods vehicles (where specialist lenders exist), and specialist vehicles such as refrigerated EVs and adaptations.

Read on to learn the finance types offered, typical eligibility, costs and incentives — and if you’re ready, start a Free Eligibility Check to get matched to the lenders/brokers best suited to your requirements: Free Eligibility Check — Get Quote Now.

What types of EV fleet funding our partners arrange

Our network arranges the full spectrum of vehicle finance commonly used by UK businesses. Below is a concise guide to each product, when it’s used and the typical benefits.

Asset finance & Hire Purchase (HP)

Use: When the business intends to own the EVs at the end of the agreement.

• Structure: You pay fixed repayments; ownership transfers once the finance is repaid.
• Benefits: Predictable payments, balance‑sheet ownership (may be useful for capital allowances), flexible terms (usually 2–5 years for vehicles).
• Typical deal sizes: From about £10,000 upwards (we generally handle arrangements of £10k+).

Contract hire / Operating lease

Use: For businesses preferring off‑balance‑sheet fleet management and predictable monthly costs.

• Structure: You effectively rent the vehicle for an agreed term and mileage; maintenance and servicing can be included.
• Benefits: Lower upfront cost, easier fleet replacement, predictable TCO; residual risk sits with the leasing company.

Finance lease

Use: When cashflow management is key and owning the asset may be a secondary concern.

• Structure: Similar to HP but typically structured for businesses that want long terms with an option to buy at the end.
• Benefits: Monthly claimable costs, flexible exit options depending on contract.

Fleet leasing & salary sacrifice schemes

Use: For larger employers offering EVs to staff or running a mix of company and employee vehicles.

• Notes: Some brokers in our panel can help set up salary sacrifice schemes, though tax/benefit‑in‑kind impacts must be checked with payroll/accounting advisers.

Battery‑as‑a‑Service (BaaS) & specialist financing

Use: For manufacturers and operators where battery ownership and replacement present a different commercial model.

• Notes: Select lenders provide split funding for vehicle and battery or subscription models for batteries — availability varies by vehicle make and operator.

Deposit and terms: many lenders offer 0% deposit or low initial rentals; terms typically range 24–60 months depending on vehicle type and lender. To compare offers tailored to your fleet, Get Quote Now — Free & No‑Obligation.

Which businesses qualify? Eligibility checklist

Qualification depends on lender criteria, but typical factors include:

• Business type: Limited companies, LLPs and partnerships (we do not arrange sole trader‑focused products on this page).
• Trading history: Many lenders prefer at least 12 months trading, though specialists can support newer businesses.
• Turnover & contract size: Expect lenders to consider turnover in relation to the funding requested; we work with partners who handle fleet finance from around £10,000 upwards.
• VAT status and use: VAT‑registered businesses can reclaim VAT on some vehicle purchases depending on use and vehicle type.
• Credit profile: Good credit secures better rates; however, our panel includes brokers who specialise in businesses with imperfect credit.
• Vehicle eligibility: New vehicles are easiest to fund; used EVs are funded by some lenders depending on age/mileage.

Want to see who can help your business quickly? Our short form takes under two minutes: Free Eligibility Check.

Costs, incentives and total cost of ownership (TCO) for EV fleets

Understanding TCO is critical — EVs often have a different cost profile to ICE vehicles.

Key TCO components

• Purchase or finance cost: EVs typically have higher upfront prices (though prices are changing rapidly).
• Fuel (energy) savings: significantly lower per‑mile costs vs diesel/petrol for many operations.
• Maintenance: fewer moving parts can mean lower servicing costs, but battery warranty and specialist repair considerations apply.
• Depreciation and residual values: lenders price deals on expected residuals — uncertainty in residuals can affect monthly payments.

Government & external incentives

There are grants and support schemes that can reduce costs — check gov.uk for the latest government guidance on EV grants and the Energy Saving Trust for business resources. Always confirm eligibility and up‑to‑date scheme details with the official sites or your accountant.

Tax & accounting

Tax treatment (capital allowances, benefit‑in‑kind, VAT recovery) varies by vehicle type and usage — consult an accountant for personalised advice. Lenders build these considerations into proposals where relevant; you can ask matched brokers to confirm tax impacts for your business.

To explore how finance affects your fleet’s TCO, Speak to an EV finance specialist — Get Started.

How UK Business Loans matches you with the right EV finance partner

We’re a specialist introducer: we do not lend, we match. Our process is designed for speed and relevance.

1. Complete a short enquiry (under 2 minutes) — we ask business name, company type, funding required and contact details.
2. We match your request to lenders/brokers in our panel who specialise in fleet and vehicle finance.
3. A matched partner contacts you to discuss options and provide quotes (typically within hours to 48 hours).
4. Compare offers, choose a provider and proceed directly — there’s no obligation to accept any quote.

Ready to start? Start Your Enquiry — Get Quote Now.

Real‑world examples & common scenarios

Want a similar solution for your fleet? Free Eligibility Check.

Questions businesses ask (FAQ)

Can I finance second‑hand electric vehicles?

Yes — some lenders fund used EVs, but criteria (maximum vehicle age and mileage) vary. Our matching will identify partners who accept used EVs if that’s your preference.

Are batteries included in finance agreements?

Often yes, for whole‑vehicle funding. However, some manufacturers or operators use BaaS where batteries are leased separately. Ask your matched broker for explicit details in any quote.

How much deposit is typically required?

Deposits range from 0% to 20% depending on product and credit profile; many commercial deals offer low/zero deposit options. Specifics will be in the quotes you receive.

Will making an enquiry affect my credit score?

No — submitting our initial enquiry does not affect your credit file. Lenders may carry out credit checks later if you decide to proceed with an application.

How quickly will I receive quotes?

Matched partners typically respond within a few hours to 48 hours during working days.

To find answers tailored to your fleet, Get Your Quick Quote / Free Eligibility Check.

Next steps — How to get a fast, no‑obligation EV fleet finance quote

1. Click the enquiry link below. 2. Complete a short form (under 2 minutes). 3. We’ll match you with lenders/brokers who contact you with quotes.

Start now: Start Your Enquiry — Get Quote Now

Note: UK Business Loans acts as an introducer; we do not lend and do not provide regulated financial advice. Using our service is free and there is no obligation to accept any offer.

Footer microcopy & legal disclaimers

UK Business Loans is an introducer; we do not lend or provide regulated financial advice. We connect businesses to trusted lenders and brokers who operate under their own terms. We organise finance for business purposes from approximately £10,000 and upwards. All information here is for guidance only — always check lender terms and consult your accountant or tax adviser for tax implications.

Read more about our approach to finance and services at our business finance page.

Privacy Policy | Terms & Conditions