Overview — can you finance specialist vehicles?

If your business needs a refrigerated van, a tipper for construction, a skip loader for waste work, or a recovery truck with cranes and winches, specialist vehicle finance is widely available in the UK. Many mainstream vehicle lenders will fund converted vehicles, and a growing panel of specialist lenders and brokers focus precisely on converted bodies and heavy commercial equipment. The right route depends on vehicle age, conversion quality, business finances and whether you want to own the vehicle at the end of the term.

Free Eligibility Check — tell us a few details and we’ll match you to lenders and brokers who specialise in your vehicle type.

What is “specialist vehicle” finance?

“Specialist vehicle” finance covers funding for commercial vehicles that have been adapted or built for a specific purpose. That includes refrigerated vans (with powered refrigeration units), tippers with hydraulics, skip loaders/hooklift vehicles and recovery trucks fitted with cranes, winches or bespoke decks. Specialist finance takes into account the conversion value, component lifespans (e.g. refrigeration units), different residual values, and the higher repair/servicing costs associated with these vehicles.

Main finance types for specialist vehicles

Asset finance & hire‑purchase (HP)

Hire purchase and asset finance are common for businesses that want to own the vehicle at the end of the term. HP agreements often finance both the base vehicle (chassis) and the conversion (e.g. refrigerated body, tipper unit). Typical terms: 24–84 months depending on vehicle size and age. VAT‑registered companies can usually reclaim VAT on qualifying purchases when using purchase-style finance.

Finance lease & operating lease (contract hire)

A finance lease is a long‑term rental where the funder retains ownership; an operating lease (often called contract hire) is closer to rental and may include maintenance. Leases are useful to keep balance sheets lighter or for businesses that prefer predictable monthly costs. Some funders won’t accept certain bespoke conversions on operating leases — specialist brokers know which funders are open to which conversions.

Chattel mortgage & refinance

Chattel mortgages and asset refinancing are options if you need to secure funding against vehicles you already own or to release capital. These routes are commonly used by businesses building or upgrading a fleet.

What lenders look for — eligibility & common criteria

Lenders specialising in converted vehicles assess a combination of vehicle and business factors:

• Vehicle details: make, model, year, mileage, gross vehicle weight (GVW) and full description of the body/conversion.
• Conversion evidence: supplier/fitter invoices, warranties, service records and certification for specialist equipment (eg refrigeration service history, LOLER certificates for lifting equipment).
• Intended use: industry (food delivery, construction, waste, recovery) and estimated annual mileage or duty cycle.
• Business trading history: many funders prefer 12+ months trading but some specialist lenders accept newer businesses if directors have strong sector experience.
• Financials & cashflow: accounts, turnover and bank statements help underwrite the deal.
• Credit profile: business and director credit histories; adverse credit is considered by some specialist lenders but may affect deposit and rate.
• Vehicle age & residual value: older or bespoke bodies can mean higher deposits or shorter terms.

Vehicle‑type specifics — what matters for each model

Refrigerated vans (reefer vans)

Reefers have expensive refrigeration units whose condition strongly affects resale value. Lenders will ask for service records, manufacturer details (e.g. Thermo King, Carrier) and any warranty. Proven service history and professional fitting improve valuation and terms. For VAT-registered businesses buying new via HP, VAT recovery may apply — discuss with your accountant and lender.

Tippers

For tippers, payload capacity, GVW and hydraulic system condition are key. Construction use implies heavier wear — lenders may require shorter terms or larger deposits. Fitter invoices and maintenance records help secure better deals.

Skip loaders & hooklift vehicles

Bespoke bodies and hydraulics mean funders want invoices, photos and fitter credentials. Some lenders only fund particular makes or professionally fitted units; specialist brokers can point you to the right funder.

Recovery trucks

Recovery vehicles often include winches, cranes and specialist decks. Lenders will typically request LOLER/MHRA inspection records for lifting equipment, service logs for winches/cranes and evidence of regular testing. Specialist recovery lenders understand the value of kit and how to treat it in valuations.

Typical terms, deposits and costs

• Minimum deal size: UK Business Loans typically works with finance requests from £10,000 and upwards.
• Deposit: 0–25% depending on vehicle age and lender; bespoke or older conversions usually need larger deposits.
• Terms: 24–84 months is common; heavier vehicles often have longer or slightly different term structures.
• Rates & fees: Specialist vehicle finance often costs more than standard van finance. Interest rates, arrangement fees and documentation fees vary by lender and borrower risk profile.
• VAT treatment: VAT is generally reclaimable on qualifying new purchases for VAT‑registered businesses using purchase-style finance. Leasing VAT treatment differs — monthly payments typically include VAT.

Documents to prepare — quick checklist

Having these ready speeds up approvals:

• Business registration and VAT number (if applicable)
• Latest 1–3 years’ accounts or management accounts
• Last 3–6 months’ business bank statements
• Director ID and address proof
• Vehicle specification, photos and mileage
• Conversion/fitment invoices, manufacturer details and warranties
• Service histories and any LOLER or lifting equipment certificates
• Purchase invoice or dealer quotation if buying new

How UK Business Loans helps — why use a broker match service

We don’t lend ourselves — we connect your business to specialist lenders and brokers who know converted and specialist vehicles. Rather than completing multiple separate applications, complete one short enquiry and we’ll match you with partners most likely to fund your vehicle and offer competitive terms.

Main benefits:

• Quick, free eligibility checks — no obligation
• Access to lenders who accept conversions and specialist equipment
• Higher chance of competitive terms from niche funders
• Less time filling multiple applications — one enquiry gets you matched

Get Started — Free Eligibility Check

Note: completing our enquiry is not a loan application — it allows us to share details with our lender and broker partners so they can assess and contact you with quotes.

Alternatives & when to choose them

If standard asset finance isn’t available or is costly, consider:

• Short‑term hire or rental while you build trading history or wait for equipment delivery.
• Refinance or sale and leaseback to release capital from existing assets.
• Unsecured business loan — useful when you prefer fewer restrictions on how the finance is used, though rates and limits vary.
• Specialist alternative lenders or peer‑to‑peer platforms that accept higher risk profiles (may cost more).

A matched broker can advise the most appropriate route for cashflow, tax and balance sheet considerations.

Frequently asked questions

Can I get finance with imperfect credit?

Yes — some specialist lenders and brokers consider adverse credit. Expect higher rates or larger deposits in many cases, but a broker match improves your chances.

Can start‑ups be financed?

Some lenders will consider newer companies if directors have substantial sector experience and supporting documentation. Evidence of contracts or regular work helps.

Will applying through UK Business Loans affect my credit score?

Submitting your details for an eligibility check does not affect your credit score. Lenders may perform credit checks only if you proceed with an application.

Do lenders fund conversions?

Yes — many funders will finance conversions if they are professionally fitted and supported by invoices, warranties and service history.

How long does a decision take?

Once matched, some brokers contact you within hours during business hours. Full credit decisions depend on documentation — often a matter of days.

Which finance type should I choose?

If you want to own the vehicle: hire‑purchase or chattel mortgage. If you prefer predictable monthly costs and maintenance: an operating lease. A broker match will outline the pros and cons for your situation.

Next steps — how to get a quick quote

Ready to explore options? Click the link below, complete a short enquiry (takes under 2 minutes) and we’ll match your business with specialist lenders and brokers for a free eligibility check.

Get Quote Now — Free Eligibility Check

Important: UK Business Loans is an introducer — we do not lend. Completing the enquiry is not a loan application; it allows our lending partners to review and contact you with tailored quotes. We handle your details securely and share them only with relevant finance partners.