At a glance: Novuna Business Finance (formerly Hitachi Capital) offers fast, digital-first decisions for MEWP finance. Their technology-led process is ideal for new equipment - particularly from major manufacturers - with rates from 4.5% for strong credit profiles. Minimum advance £5,000.
Novuna MEWP Finance Rates - October 2026
Novuna is the asset finance arm of Mitsubishi HC Capital UK, operating under the Novuna brand since 2022. Their digital decisioning platform means credit terms can be issued in minutes for straightforward cases. They are particularly competitive on new scissor lifts and boom lifts from authorised dealers.
| MEWP Type | Finance Type | Indicative Rate | Min Advance | Max Advance | Typical Term |
|---|---|---|---|---|---|
| New Scissor Lift | Hire Purchase | 4.5–7.0% | £5,000 | £2m | 24–60 months |
| New Articulated Boom Lift | Hire Purchase | 4.5–7.5% | £5,000 | £2m | 36–60 months |
| New Telescopic Boom Lift | Hire Purchase | 4.5–7.5% | £5,000 | £2m | 36–60 months |
| Used MEWP (under 5 years) | Hire Purchase | 5.5–9.0% | £5,000 | £750k | 24–48 months |
| Finance Lease (new) | Finance Lease | 5.0–8.0% | £5,000 | £2m | 24–60 months |
| Adverse Credit | Hire Purchase | 9.5–12.5% | £5,000 | £250k | 24–48 months |
Novuna's digital decisioning gives faster initial terms but may refer complex profiles to manual underwriting, which can slow things.
Novuna - Strengths and Limitations
Strengths
- Fast digital decisions - often same-day for clean profiles
- Competitive rates on new equipment
- Low £5,000 minimum advance
- HP and finance lease products available
- Well-regarded broker relationships and service
- Part of Mitsubishi HC Capital - substantial funding capacity
Limitations
- Less flexible on used or older MEWP equipment
- Digital system can misclassify complex credit profiles
- Not typically the strongest on adverse credit cases
- Maximum £2m - may refer very large fleet deals elsewhere