Funeral fleet finance covers the specialist vehicles that funeral directors and bereavement service companies depend on: hearses, funeral limousines, removal vehicles, and support vehicles. This is a niche asset class where specialist conversion values and a well-established secondary market make finance broadly accessible, but where not all lenders have the appetite or understanding to proceed.
Vehicle Types Financed
- Traditional limousine-style hearses - Mercedes-Benz E-Class, Daimler DS420, Jaguar conversions by Coleman Milne, Woodall Nicholson
- SUV hearses - Range Rover, Volvo XC90 conversions
- Funeral limousines - matching stretched vehicles for mourner transport
- First call/removal vehicles - vans used for dignified removal from place of death
- Repatriation vehicles - specialist vans for international repatriation work
Lenders with Funeral Vehicle Appetite
Close Brothers and Shawbrook both have documented appetite for funeral director vehicles, including specialist conversions. The key underwriting consideration is residual value - the specialist hearse market is active, with Coleman Milne and other conversion companies operating part-exchange programmes that support residual values.
Rate Guide - October 2026
| Vehicle Type | Rate Range (APR) | Term | LTV |
|---|---|---|---|
| New conventional hearse | 6-9% | 3-5 years | 80% |
| New SUV hearse | 7-10% | 3-5 years | 80% |
| Used hearse (under 5yr) | 8-12% | 2-4 years | 75% |
| Funeral limousine (new) | 6-9% | 3-5 years | 80% |
| First call/removal van | 5.5-8% | 3-5 years | 85% |
Worked Example - Independent Funeral Director Fleet Renewal
| Detail | Figure |
|---|---|
| Assets | 1x 2023 Coleman Milne Mercedes hearse + 1x matching limousine |
| Total value | £140,000 |
| Deposit (20%) | £28,000 |
| Amount financed | £112,000 |
| Term | 48 months |
| Rate | 8% APR |
| Monthly payment | approx. £2,730 |