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Vehicle finance

Keep your commercial fleet moving.

Commercial vehicle finance for limited companies and LLPs — vans, trucks and other business-use fleet assets, not consumer car hire.

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Tera arranges finance from a panel of lenders. We are not a lender.

Overview

Vehicle finance covers hire purchase, leasing and contract hire for commercial vehicles used in business operations by incorporated borrowers, spreading cost over the asset's useful life.

How it works

Regular payments are made over the agreement term. Ownership, maintenance and end-of-term options depend on the structure chosen.

Common uses

  • Commercial vans and trucks for business use
  • Fleet replacement programmes
  • Specialist commercial vehicles
  • Business-use vehicles for incorporated borrowers

Benefits

  • Preserves working capital
  • Predictable monthly costs
  • May include maintenance packages

Considerations

  • Mileage and condition terms apply to some structures
  • Early termination charges may apply
  • Ownership transfers vary by product

Information required

  • Vehicle specifications and cost
  • Annual mileage estimates
  • Business trading information

Who may consider

  • Limited companies and LLPs operating commercial fleets
  • Incorporated businesses replacing ageing vehicles
  • Businesses needing specialist commercial vehicles

The process

  1. 1.Share vehicle requirements through Tera's assessment
  2. 2.Review suitable finance structures
  3. 3.Complete the provider's application
  4. 4.Take delivery and begin repayments

Example: fleet renewal

A limited company logistics operator replacing five delivery vans may use contract hire to manage monthly costs and include maintenance for business-use vehicles.

This is an illustrative example only. Suitability depends on individual circumstances.

Vehicle finance FAQs

Tools and resources

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Tell us what your business needs.We'll handle the next steps.

Complete the short form and a Tera commercial finance specialist will review your requirement and contact you to discuss suitable next steps.

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  • No obligation to proceed
  • Human review on every enquiry

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Call 020 4572 4601