Close Brothers Asset Finance is one of the UK's most active specialist lenders in the commercial vehicle and cold chain sector. Their appetite covers everything from refrigerated panel vans used in local food delivery through to 13.6-metre reefer semi-trailers operating in national temperature-controlled distribution. As an independent broker, Doulton Bridging Finance works directly with Close Brothers and can present your enquiry with the supporting information that gives you the best chance of a competitive rate.
Close Brothers Refrigerated Vehicle Finance - Rate Guide
| Asset Type | Typical APR Range | Term | Min Finance |
|---|---|---|---|
| Refrigerated panel van (up to 3.5t) | 4.5–9% | 2–5 years | £5,000 |
| Refrigerated LCV (3.5t–7.5t) | 5–10% | 2–5 years | £10,000 |
| Refrigerated rigid HGV (7.5t–18t) | 5.5–11% | 2–7 years | £15,000 |
| Reefer semi-trailer (13.6m) | 6–12% | 3–7 years | £20,000 |
| Body-on-chassis combined facility | 5–11% | 2–7 years | £15,000 |
Indicative rates only. Your actual rate will depend on credit profile, time in business, asset age and deposit level. Rates correct as at October 2026.
Why Close Brothers for Refrigerated Vehicle Finance?
Close Brothers takes a pragmatic, asset-led approach to underwriting. Where many high-street lenders struggle to value a refrigeration body or treat the entire unit as a depreciating van, Close Brothers' specialist commercial vehicle team understands the secondary market for temperature-controlled assets. This means they will commonly finance the cab and reefer body as a single combined asset - removing the complication of split facilities.
Strengths
- Finances cab and reefer body as one combined asset
- Strong appetite across food, pharma and fresh produce sectors
- Covers vans through to 13.6m reefer trailers
- Competitive rates from 4.5% for strong credits
- Accepts Thermo King and Carrier refrigeration units
- Will consider assets up to 10 years old
Limitations
- Minimum facility typically £5,000
- Rates rise sharply on assets over 7 years old
- Adverse credit requires individual consideration
- Full financial information required for larger facilities
Sectors Close Brothers Will Finance
Close Brothers has well-established relationships across the cold chain logistics sector. Their underwriters understand the operational requirements and asset values specific to each industry:
- Food logistics and grocery distribution - supermarket supply chain, cash and carry, food service
- Pharmaceutical cold chain - GDP-compliant temperature-controlled delivery, clinical trial logistics
- Fresh produce and horticulture - flower importers, fruit and vegetable wholesalers
- Catering and hospitality supply - restaurant and hotel distribution
- Fish and seafood logistics - coastal and inland distribution
HP vs Finance Lease - Which Works Best with Close Brothers?
Close Brothers offers both Hire Purchase (HP) and Finance Lease on refrigerated vehicles. HP is most common for owner-operators who want to own the asset at the end of the term. Finance Lease suits businesses that prefer to return or re-finance the vehicle at term end - particularly useful when residual values on older reefer bodies are uncertain.