Funeral fleet finance
A cortege is judged as a single thing by every family that watches it leave, which is why funeral vehicles are so often bought in matched sets.
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Can you finance a funeral fleet?
Funeral fleet finance funds several funeral vehicles together, most often a hearse and one or more limousines built to match in marque, colour and trim. Because the vehicles are ordered as a set from the same coachbuilder, they are usually funded as one exercise rather than separately. The assets are coachbuilt and therefore only acceptable to specialist funders. Fleet funding is assessed on the strength of the funeral business as much as on the vehicles, since the total commitment is larger and the underwriter is backing the firm as a whole.
Used kit: Yes — whole used fleets change hands within the profession, and an older matched set in consistent condition is a perfectly fundable proposition.
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What would a funeral fleet cost per month?
Business asset finance is quoted on a flat rate, so that is what this shows — with the equivalent APR underneath, because the two are not the same number. A quick guide only; your actual rate depends on the asset, term, deposit and lender.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 6.0% flat rate (equivalent to 11.5% APR representative), you would repay around £646 a month; total amount repayable approximately £31,000, of which £6,000 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval. CW Asset Finance is an Appointed Representative of Rural Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630701).
How lenders treat it
A fleet request changes the conversation from asset to covenant. One coachbuilt vehicle can be justified on its own merits; three or four ordered together represent a commitment that has to be supported by trading performance, so underwriters will want accounts, an idea of annual funeral numbers and a sense of how long the firm has traded. That last point usually helps, because funeral businesses are frequently decades old and remarkably stable through economic cycles. On the asset side, the difficulties are unchanged: mainstream motor funders decline coachbuilt vehicles, and the specialists who accept them know the buyer pool is narrow. Matched sets can actually resell well as a unit within the profession, which underwriters familiar with the sector recognise. Build lead times are long, so staged delivery and funding timing need to be discussed at the outset.
Makes and models we fund
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| Coleman Milne Cardinal | Hearse to anchor a matched cortege set |
| Coleman Milne Norwich | Mourners limousine to match the hearse |
| Wilcox Limousines fleet | Matched hearse and limousine packages |
| Eagle Specialist Vehicles fleet | Hearse and limousine sets for branch fleets |
| Superior UK hearses | Additional hearses for a second branch |
| Binz cortege vehicles | German-built hearses and limousines |
| Mercedes-Benz E-Class hearse | High mileage hearse for busy fleets |
| Mercedes-Benz Vito private ambulance | Removal vehicle to support the fleet |
| Ford Galaxy mourners car | People carrier for overflow family transport |
| Jaguar XF hearse | Premium hearse for higher value services |
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Who buys one
Typically an established family firm carrying out a generational fleet replacement, having run the previous set for fifteen or twenty years. It can also be a business acquiring another funeral home and needing a second complete cortege so both branches can conduct services on the same morning.
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How it is treated for tax
Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Funeral fleet finance questions
Do all the vehicles have to come from one coachbuilder?
Not strictly, but matching is easier when they do, and funders find a coherent set simpler to assess. Mixing marques across a cortege is unusual and tends to reduce the resale appeal of the fleet as a whole.
What happens if delivery is staged across several months?
That is normal given coachbuilding lead times, and funders in this sector are used to it. Vehicles are usually funded as they are delivered and invoiced, so agreements start when each one arrives rather than when the order was placed.
Will the funder want to see our accounts?
For a fleet, almost certainly. The commitment is larger than a single vehicle, so underwriters look at trading history, funeral volumes and the balance sheet. Long-established firms generally present very well on those measures.
Can we replace part of the fleet rather than all of it?
Yes, and many firms do exactly that, rotating one vehicle at a time to spread the cost. The main drawback is matching, since a newer car alongside older ones can look inconsistent in the cortege.
Is it cheaper to fund a set than individual vehicles?
Not necessarily cheaper, but often simpler, with one application, one set of documents and one relationship. Whether a set or separate agreements suits you better depends on your replacement cycle and how you want commitments to fall.
Get a quoteor call 07581 364281
Also in hearse and funeral vehicle finance
- Hearse finance
- Funeral limousine finance
- Private ambulance finance
- Removal vehicle finance
- Horse drawn hearse finance
- Motorcycle hearse finance
- Electric hearse finance
- Used hearse finance
- Funeral home equipment finance
- Mortuary equipment finance
- Coffin trolley finance
See everything we fund in hearse and funeral vehicle finance →
Not an offer of finance. All finance is subject to status, affordability and lender approval.
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