Current Rates - October 2026
| Term | Representative APR | Monthly cost (£50k asset) | Deposit required | Decision speed |
|---|---|---|---|---|
| 1 year | 4.5% | ~£4,350/mo | 0–20% | Same day–48h |
| 2 years | 4.5–8.2% | ~£2,280/mo | 0–20% | Same day–48h |
| 3 years | 4.5–12 | ~£1,240/mo | 0–20% | Same day–48h |
| 5 years | 4.5–12 | ~£1,050/mo | 0–30% | Same day–48h |
| 7 years | Up to 12 | ~£820/mo | 10–30% | Same day–48h |
Representative examples only. Actual rates depend on credit profile, asset age, deposit and loan-to-value. Minimum facility £5,000.
How Close Brothers Compares to the Market
Close Brothers sits in the specialist/challenger segment of the UK commercial vehicle finance market. For businesses with straightforward credit profiles and newer assets, high-street lenders such as Lombard or Novuna may offer marginally lower headline rates. However, Close Brothers's underwriting flexibility means it regularly funds deals that mainstream lenders decline outright.
When you approach Close Brothers through a broker like Doulton Bridging Finance, we present your case with supporting context - reducing the likelihood of an automated decline and often securing better terms than a direct application.
Strengths
- Accepts sole traders and partnerships without Ltd company requirement
- Adverse and impaired credit considered on a case-by-case basis
- New businesses (under 2 years trading) considered with deposit
- All van types financed including LCVs, refrigerated vans, tippers and used stock up to 15 years old
Limitations
- Higher APR for sub-prime credit - 10–12% is common for adverse profiles
- Not the most competitive for clean-credit limited companies (prime lenders often beat them)
- Some vehicle age restrictions apply above 10 years on higher loan values