Electric truck finance
Electric HGVs are funded, but with less residual history behind them, funders lean harder on the operator and on the charging plan than on the vehicle.
Whole-of-market — 60+ lenders searched, including
Can you finance an electric truck?
Yes, though the panel is narrower than for diesel and the structures differ. An electric truck funds as a commercial vehicle, typically on hire purchase or lease, with the battery normally included as part of the vehicle rather than separately. Used electric trucks are only starting to appear in volume, so second-hand appetite is limited. The honest complication is residual value: funders have far less disposal data than they do for diesel, so they are more conservative, and operators are often assessed on contracted urban delivery work and on whether depot charging is actually in place.
Used kit: Rarely at present — the used electric HGV market is thin, so most funding is for new or nearly new vehicles.
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What would an electric truck cost per month?
Asset finance is quoted on a flat rate, so that is what the buttons show, with the equivalent APR beside it. Your exact rate depends on the asset, the term, the deposit and the lender.
Prime is an established, profitable business with clean credit. Specialist covers newer businesses and credit that needs explaining — the asset itself carries part of the risk, which is why finance is often available where an unsecured loan is not.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 5.15% flat rate (equivalent to 9.9% APR representative), you would repay around £628 a month; total amount repayable approximately £30,150, of which £5,150 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.
Rates shown are indicative flat rates with the equivalent APR alongside — the two are not the same number. Indicative only and does not constitute a quote or an offer of finance. Subject to status and lender approval.
How lenders treat it
Electric HGV underwriting is genuinely different. Funders lack the years of auction data that underpin diesel residuals, so they value conservatively and prefer operators with strong covenants and contracted work. Battery health is the central unknown — funders look at manufacturer warranty terms and state-of-health reporting, and some structure agreements to align with warranty coverage. Charging is the practical gate: a funder will ask whether depot charging is installed, what the grid connection allows, and whether the round is realistically within range. Vehicles funded without a charging plan are a real risk. Manufacturer-backed funding arms are often the most competitive here because they carry the residual risk themselves. Operators looking to buy speculatively without a defined route or charging capability are usually declined.
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 |
|---|---|
| Volvo FE Electric | Battery rigid for urban distribution |
| DAF XD Electric | Electric rigid for city and regional work |
| Renault Trucks E-Tech D | Electric rigid for clean air zones |
| MAN eTGX | Battery tractor unit for regional haulage |
| Mercedes-Benz eActros | Electric tractor unit for trunking |
| Scania 45 R BEV | Battery unit for regional distribution |
| Volvo FH Electric | Electric tractor for heavier loads |
| DAF LF Electric 19t | Electric nineteen tonne rigid for deliveries |
| Fuso eCanter 7.5t | Small electric rigid for city rounds |
| Depot charging equipment | Chargers and groundworks for a truck fleet |
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Who buys one
Urban distribution operators facing clean air and low emission zone charges, retailers and manufacturers with published decarbonisation commitments, and contractors bidding for local authority work where emissions carry weight in the tender. The trigger is usually a customer requirement or a zone charge that makes a diesel vehicle uneconomic on a specific round. A few are hauliers running a single electric vehicle as a trial before committing to a wider fleet decision.
Get a quoteor call 0333 772 4864
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.
Electric truck finance questions
Are electric trucks harder to finance than diesel?
The panel is narrower and funders are more conservative, because there is far less resale data to base residual values on. That does not mean difficult — manufacturer funding arms and specialist lenders write them regularly. It means the operator’s covenant and the contracted work behind the vehicle carry more weight than they would on a diesel.
Is the battery funded separately from the truck?
Usually not in the UK — the battery is normally part of the vehicle and funded within the same agreement. Some manufacturers have offered separate battery arrangements in other markets. What funders do look at is the battery warranty and any state-of-health reporting, because that is the closest thing available to a residual value anchor.
Do I need charging installed before finance is agreed?
Not necessarily agreed, but funders will ask about it and it is the practical gate on the whole project. A truck that cannot be charged at the depot cannot run the round. Grid connection lead times can be long, so start the charging conversation before the vehicle order rather than alongside it.
Can I finance the charging infrastructure too?
Often yes. Chargers, groundworks and associated electrical equipment can usually be funded as business assets, sometimes on the same facility as the vehicles and sometimes separately. Since the infrastructure has a longer useful life than the trucks, a separate structure frequently makes more sense. Raise it early and we will look at both together.
Will an electric truck hold its value?
Nobody knows with confidence yet, which is precisely why funders are cautious. There is limited disposal history and battery health will drive a large part of it. Some operators prefer lease structures that hand the residual risk to the funder rather than carrying it themselves. It is worth weighing that against ownership before choosing a structure.
Get a quoteor call 0333 772 4864
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Not an offer of finance. All finance is subject to status, affordability and lender approval.
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