The used HGV market offers significant value for operators who are prepared to manage an older vehicle's maintenance requirements. But financing a second-hand artic or rigid differs meaningfully from buying new - lender appetite, rates and loan-to-value limits all vary based on vehicle age, mileage and specification. This guide covers everything you need to know about used HGV finance in October 2026.
How Lenders Assess Used HGVs
When underwriting a used HGV, lenders consider five main factors beyond the borrower's creditworthiness:
- Age at point of finance: Most lenders impose an age limit at the end of the term (not at point of purchase). A 7-year-old artic on a 5-year term would be 12 years old at the end - exceeding most lenders' cut-offs.
- Mileage: High mileage on an artic (800,000km+) increases residual value uncertainty. Lenders may require a larger deposit or offer a lower LTV on very high-mileage vehicles.
- Specification and model: Mainstream brands (DAF, Volvo, Scania, Mercedes) in standard specifications are more acceptable than unusual or specialist configurations.
- MOT and service history: A current MOT, service history and evidence of recent inspection are important for both lender confidence and your own protection.
- Source: Buying from a franchised dealer or reputable HGV dealer is treated more favourably than a private purchase - though most lenders will consider private purchases with appropriate evidence.
Age and Mileage Limits by Lender
| Lender | Max age at end of term | Mileage guidance | Private purchases |
|---|---|---|---|
| Lombard | 8 years | Under 600,000km preferred | Limited |
| Close Brothers | 12–15 years | Assessed individually | Yes |
| Aldermore | 12 years | Assessed individually | Yes |
| Shawbrook Bank | 15 years | Assessed individually | Yes |
| Haydock Finance | 12–15 years | Assessed individually | Yes |
| Time Finance | 15 years | Assessed individually | Yes |
Limits are indicative and subject to change. Individual cases assessed on their merits.
Worked Example - 5-Year-Old Volvo FH 500
Vehicle: 2021 Volvo FH 500, 580,000km, full service history, current MOT. Price: £72,000. Deposit: £10,800 (15%). Finance amount: £61,200. Lender: Close Brothers. APR: 8.5%. Term: 5 years. Monthly payment: approximately £1,257/mo. Vehicle age at end of term: 10 years - within Close Brothers' acceptable range. Total interest: approximately £14,220.
This deal would not have been possible with Lombard (vehicle would be 10 years old at term end, above their 8-year limit) but is straightforward for Close Brothers, Aldermore or Haydock Finance.
Buying at Auction
HGV auction purchases are financeable by most specialist lenders. You will need the auction confirmation slip as the "invoice" for the purchase. Be aware that some lenders apply a slightly higher rate or require a larger deposit for auction purchases, as there is typically less opportunity to inspect the vehicle's condition prior to bid. Always arrange an independent inspection before bidding on a high-value artic at auction.
Private Purchases
Financing a used HGV bought privately (from another operator rather than a dealer) is possible but narrows the lender panel. You will need a written sale agreement with seller details, registration number, agreed price and both parties' signatures. Close Brothers, Haydock Finance and Time Finance are among the lenders who consider private purchases.