Straight answers to what trucks buyers ask most, from HGV Monthly and the finance team at CW Asset Finance.
Yes. Lenders on our panel fund new operators and owner drivers, including sole traders in their first year. They want to see your driving and transport experience, your O licence or application, and ideally work or contracts lined up. A larger deposit can help a first truck. Our Volvo grab tipper case below was for a sole trader in the first year of trading.
You need an operator licence to run a goods vehicle over 3.5 tonnes for business, which includes a 7.5 tonne lorry. A restricted licence covers carrying your own goods; a standard licence is needed to carry for hire or reward. Lenders usually ask to see the licence, or proof it has been applied for, before paying out.
Beyond the truck, the O licence needs proof of financial standing: a set amount of money available for the first vehicle and a smaller amount for each extra one, as published by the Traffic Commissioners. Add insurance, tachograph setup, maintenance, fuel float and a transport manager if you are not qualified yourself. Finance spreads the cost of the truck so your cash covers the rest.
Yes, though lenders look closely at the age the truck will be when the agreement ends. A mainstream tractor unit or rigid that is five to ten years old is routinely funded over three or four years. Older trucks can be funded over shorter terms. Check it meets the clean air zone rules where you work, since a Euro VI truck keeps its value far better.
A Category C licence covers rigid tippers over 7.5 tonnes, including eight wheelers, along with a current Driver CPC. A C1 licence covers tippers between 3.5 and 7.5 tonnes. Drivers who passed their car test before 1997 usually have C1 already. Operating a grab also needs the right training, often a NPORS or CPCS card.
Look at the body floor and tailgate for cracks and thin spots, run the tipping ram through its full stroke and watch for leaks, and check the PTO and hydraulic pump. On a grab, test the crane through every movement and check its LOLER inspection. Ask for the MOT history and look at the chassis around the body mounts, where tipper work causes the most stress.
It depends mostly on age, mileage and cab. Older high mileage units sell for little more than the finance threshold, while three year old flagship units cost many times that. The live stock on HGV Monthly shows current prices with a monthly figure on each, so you can compare what your budget buys.
Check the MOT and annual test history with DVSA, the tachograph calibration date, service records and the mileage against both. Look for oil and air leaks, uneven tyre wear, and corrosion on the chassis and fifth wheel. Confirm the emissions standard, run a finance check, and make sure the plated weights suit the work you plan.
Yes. Curtainsiders, fridges, tippers, low loaders and flatbeds can be funded alone or on the same agreement as the unit that pulls them. Trailers hold their value well, so lenders are often happy to fund them over longer terms than the tractor unit itself.
Usually, yes. The lender pays the full price and you pay the VAT at the start as your deposit, then reclaim it on your next VAT return. On a fleet the VAT can be a large sum, and some lenders can defer it for a few months so it lines up with your return. Ask for that before you sign.
A balloon moves part of the cost to the end of the agreement, which lowers the monthly payment. It suits operators who change trucks every three or four years and expect to sell or part exchange before the balloon falls due. Set it too high and you may owe more than the truck is worth at the end, so we size it against what similar trucks actually fetch.
Anything from 12 to 120 months is possible depending on the vehicle, but most used trucks run over three to five years, with trailers sometimes longer. The term normally matches how long you plan to keep the truck.
Every listing shows an illustrative monthly payment on business hire purchase over 48 months, with the VAT paid as the deposit. Your actual rate depends on your business, the machine and the lender.
Every listing is checked against the dealer's own website every night. Machines come off as soon as the dealer marks them sold or takes them down.
No. HGV Monthly is a trading style of CW Asset Finance, a credit broker. We search a panel of more than 60 UK lenders and are paid commission by the lender when an agreement completes.
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.
