Financing a Complete Artic Combination
A fully equipped articulated lorry combination - tractor unit plus curtainsider trailer - typically costs £120,000–£250,000 new. Most operators finance the tractor unit and trailer separately because they have different useful lives (tractor units: 7–10 years; trailers: 10–20 years) and different residual value profiles. However, bundling onto a single agreement is also possible and has administrative advantages.
Bundled Finance - One Agreement for Both
A single HP or finance lease agreement covering both the tractor unit and trailer simplifies your monthly payment schedule and means a single lender relationship for the combination. The total finance is treated as one asset, with one monthly payment. However, if you want to replace the tractor unit mid-term (common as units depreciate faster and require more maintenance), you cannot do so without a full settlement of the combined agreement.
Split Finance - Separate Agreements
Financing the tractor unit and trailer on separate agreements gives maximum flexibility. You can replace the tractor unit on a 5–7 year cycle while the trailer continues on a longer agreement. Each asset has its own settlement figure, making it easier to manage upgrades, disposals and fleet changes independently. The administrative burden of two agreements is minimal compared to the flexibility gained.
| Approach | Pros | Cons |
|---|---|---|
| Bundled (one agreement) | Single payment, simpler admin | Cannot replace one asset without full settlement |
| Split (separate agreements) | Independent replacement cycles, flexible | Two payments, two lender relationships |
Trailer Finance Specifics
Trailers are financed separately by most specialist lenders. Age limits are more generous than for tractor units - most lenders will finance trailers up to 15–20 years old at the end of the term, reflecting their longer working lives. Rates on trailer finance are typically slightly lower than tractor unit rates because trailers have simpler mechanics and more predictable depreciation.
Which Lenders Offer Tractor + Trailer Finance?
All major commercial vehicle lenders finance both assets. Lombard, Close Brothers and Shawbrook are particularly active in articulated vehicle finance. For a new curtainsider trailer and tractor unit combination from a major dealer, manufacturer finance through the dealer network (e.g. DAF Finance, Volvo Financial Services) is also worth comparing.