Real deals arranged by CW Asset Finance, the broker behind HGV Monthly: what the business needed, what made it tricky and how it was funded.
Sole trader, Rainham, Greater London
Used 2019 Volvo FMX420 8x4 grab tipper
A sole trader in the first year of trading needed a grab tipper bought from a plant hire company. The deal paid out. It shows a new operator can be funded, though every application is judged on its own merits.
Read the full case study on CW Asset FinanceEvery application is assessed on its own merits and all finance is subject to status. These are past outcomes, not a guide to what any other business will be offered.
Example, not a real customer
A removals business starting out. Used 7.5 tonne box lorry.
A 7.5 tonne lorry used for business needs an operator licence, and the lender will usually ask to see it or the application. The driver needs a C1 licence, which many drivers who passed their car test before 1997 already hold.
Worked out at an illustrative fixed rate of 9.9% a year. Total payable £31,132 including the VAT deposit.
Example, not a real customer
An owner driver moving from employed to self employed. Used Euro VI 4x2 tractor unit.
A Euro VI unit can enter London and other clean air zones without a daily charge, which protects both earnings and resale value. A balloon could lower the monthly payment if the plan is to change trucks in four years.
Worked out at an illustrative fixed rate of 9.9% a year. Total payable £49,529 including the VAT deposit.
These examples are illustrations to show how the finance works. Your rate, deposit and term depend on your business, the machine and the lender, and all finance is subject to status.
