Novuna Business Finance - formerly Hitachi Capital, now backed by Mitsubishi UFJ Financial Group - offers HGV finance lease from 5.8% APR and hire purchase from 6.4% APR. Their technology-forward platform and strong fleet credentials make them a compelling choice for established logistics operators.
Novuna HGV Finance Rates - October 2026
Novuna rebranded from Hitachi Capital in 2022 following Mitsubishi UFJ Financial Group's acquisition of the Hitachi Capital business. The rebranding consolidated their consumer and business finance divisions, but the commercial vehicle and asset finance operations retained their specialist character. As a subsidiary of MUFG - alongside institutions such as MUFG Bank, Mitsubishi UFJ Trust and Securities, and Morgan Stanley - Novuna benefits from deep institutional capital.
| Asset / Product | Finance Type | Rate From (APR) | Deposit | Notes |
|---|---|---|---|---|
| New HGV | Hire Purchase | 6.4% | 15–20% | Prime credit, 2+ years trading |
| New HGV | Finance Lease | 5.8% | 10–20% | Balloon payment available |
| Used HGV | Hire Purchase | 7.5% | 20–25% | Up to 8 years old at end of term |
| Fleet facility (3+ vehicles) | HP or Finance Lease | Bespoke | Negotiated | Portal-managed facility |
| LCV / Van (new) | Hire Purchase | 6.1% | 10–20% | Mixed fleet accepted with HGV |
Novuna's Technology Platform
Novuna is the most technology-forward of the major specialist commercial vehicle lenders. Their broker portal offers real-time application tracking, digital document submission and same-day credit decisions on straightforward cases - a meaningful practical advantage when a vehicle purchase is time-sensitive.
For fleet operators, Novuna's facility management portal is particularly well developed. Fleet managers can view all vehicles under a facility, track repayment schedules, receive renewal alerts 90 days before agreements end, and initiate drawdowns for new vehicles within pre-approved limits. For hauliers managing ten or more vehicles across a rolling replacement programme, this operational visibility is a genuine differentiator.
Decision Speed
On standard new vehicle applications with two or more years of filed accounts, Novuna typically returns a credit decision within two to four hours through the broker channel. This compares favourably with the one-to-two-day decision times common at specialist lenders using more manual processes. When a vehicle is at auction with a 48-hour payment window, Novuna's decision speed can be decisive.
Who Novuna Suits - and Who It Doesn't
Novuna's underwriting appetite is more conservative than Close Brothers or Aldermore. Their strength is established, clean-credit fleet operators - not start-ups, not adverse credit, not complex structures. The trade-off is speed and technology in exchange for a narrower acceptance window.
Best Fit
- Established businesses (2+ years trading)
- Clean credit profile
- Fleet operators (3+ vehicles)
- Technology-forward logistics businesses
- Cases where decision speed matters
- Operators wanting portal-based fleet management
- Mixed HGV and LCV fleets
Less Suitable For
- Businesses under 2 years old
- Adverse credit applicants
- Sole traders with limited accounts
- Older assets (10+ years)
- Auction purchases requiring same-day decisions
- Complex trading structures
How Novuna Compares With the Panel
Novuna's rates for new HGVs are slightly higher than Close Brothers (6.4% vs 5.9% for HP), reflecting their more conservative credit appetite and the cost of their technology infrastructure. For the right borrower, their decision speed and fleet management tools may justify the marginal rate difference.
| Lender | New HGV HP From | Finance Lease From | Min Trading | Fleet Portal |
|---|---|---|---|---|
| Close Brothers | 5.9% | 5.4% | 6 months | No |
| Aldermore | 6.2% | 5.7% | 12 months | No |
| Novuna | 6.4% | 5.8% | 24 months | Yes |
| Black Horse Commercial | 6.1% | 5.6% | 12 months | No |
Doulton Bridging Finance submits to Novuna alongside the wider panel for qualifying cases. For a well-established fleet operator with clean credit, we will typically receive terms from two to four lenders simultaneously, giving you genuine market choice rather than a single quote to accept or reject.