Full Lender Comparison - October 2026
| Lender | Type | Rate Range | Min Deposit | Decision Speed | Adverse Credit |
|---|---|---|---|---|---|
| HSBC | High Street | 5.0–8.0% | 10% | 5–10 days | No |
| Lloyds Bank | High Street | 5.5–8.5% | 10% | 5–10 days | No |
| Barclays | High Street | 5.5–9.0% | 10% | 5–10 days | No |
| Aldermore | Specialist | 6.0–10.5% | 0–10% | 2–5 days | Limited |
| Hitachi Capital Business Finance | Specialist | 6.0–10.0% | 0–10% | 24–48 hours | No |
| Shawbrook | Specialist | 6.5–11.0% | 0–10% | 2–4 days | Limited |
| Close Brothers | Specialist | 6.5–11.0% | 0–10% | 2–4 days | Limited |
| Paragon Bank | Specialist | 7.0–11.5% | 0–10% | 3–5 days | Limited |
| Bibby Financial Services | Specialist | 7.5–12.0% | 0–10% | 2–4 days | Yes |
| Jungheinrich Finance | OEM Captive | 5.5–9.5% | 10% | 5–7 days | No |
| Toyota Financial Services | OEM Captive | 5.5–9.0% | 10% | 5–7 days | No |
| Linde Financial Services | OEM Captive | 5.5–9.5% | 10% | 5–7 days | No |
Rates are indicative for October 2026 and subject to credit status. OEM rates apply to OEM brand equipment only.
5 Tips for Getting the Best Rate
Get a broker comparison, not just one quote
A single lender quote gives you no benchmark. A broker submits your profile to multiple lenders and returns the best offer - usually within one business day.
Match the finance structure to your tax position
HP builds ownership and allows capital allowances. Finance Lease keeps the asset off your balance sheet and payments are fully tax-deductible. Operating Lease is best when flexibility matters more than ownership.
Prepare your accounts in advance
Most lenders require 2 years of filed accounts and 3–6 months of bank statements. Having these ready reduces decision time significantly.
Consider electric - lenders are incentivising the switch
Several lenders offer preferential rates for electric forklifts in 2025–26. If you are replacing diesel or LPG equipment, ask your broker to flag green-finance options.
Check the total cost, not just the monthly payment
A lower monthly payment spread over a longer term can cost more overall. Compare the total amount payable across different term lengths before committing.
Rates and criteria by lender
How each lender and manufacturer finance scheme on our panel prices this asset in October 2026, and where it fits. Rates are indicative; we compare them all for your case.
Aldermore Forklift Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 6.0–10.5%% | £277 | 3yr |
| £25,000 | Mid-range electric counterbalance | 6.0–10.5%% | £866 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 6.0–10.5%% | £1,883 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 6.0–10.5%% | £4,708 | 5yr |
Barclays Industrial Vehicle Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 5.5–9.0%% | £244 | 3yr |
| £25,000 | Mid-range electric counterbalance | 5.5–9.0%% | £761 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 5.5–9.0%% | £1,635 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 5.5–9.0%% | £4,088 | 5yr |
Bibby Financial Services Forklift Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 7.5–12.0%% | £287 | 3yr |
| £25,000 | Mid-range electric counterbalance | 7.5–12.0%% | £898 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 7.5–12.0%% | £1,983 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 7.5–12.0%% | £4,958 | 5yr |
Close Brothers Forklift Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 6.5–11.0%% | £281 | 3yr |
| £25,000 | Mid-range electric counterbalance | 6.5–11.0%% | £877 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 6.5–11.0%% | £1,917 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 6.5–11.0%% | £4,792 | 5yr |
Hitachi Capital Business Finance Forklift Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 6.0–10.0%% | £276 | 3yr |
| £25,000 | Mid-range electric counterbalance | 6.0–10.0%% | £861 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 6.0–10.0%% | £1,867 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 6.0–10.0%% | £4,667 | 5yr |
HSBC Forklift Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 5.0–8.0%% | £239 | 3yr |
| £25,000 | Mid-range electric counterbalance | 5.0–8.0%% | £747 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 5.0–8.0%% | £1,590 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 5.0–8.0%% | £3,975 | 5yr |
Lloyds Bank Forklift Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 5.5–8.5%% | £242 | 3yr |
| £25,000 | Mid-range electric counterbalance | 5.5–8.5%% | £756 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 5.5–8.5%% | £1,620 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 5.5–8.5%% | £4,050 | 5yr |
Paragon Bank Forklift Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 7.0–11.5%% | £284 | 3yr |
| £25,000 | Mid-range electric counterbalance | 7.0–11.5%% | £887 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 7.0–11.5%% | £1,950 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 7.0–11.5%% | £4,875 | 5yr |
Shawbrook Industrial Vehicle Finance Rates
| Finance Amount | Typical Use | Rate Range | Est. Monthly* | Term |
|---|---|---|---|---|
| £8,000 | Small counterbalance / pallet truck | 6.5–11.0%% | £281 | 3yr |
| £25,000 | Mid-range electric counterbalance | 6.5–11.0%% | £877 | 3yr |
| £80,000 | Heavy diesel reach truck / VNA | 6.5–11.0%% | £1,917 | 5yr |
| £200,000 | Fleet of 4–6 forklifts / warehouse pkg | 6.5–11.0%% | £4,792 | 5yr |
Jungheinrich Finance vs Independent Broker for Forklift Finance
Jungheinrich Finance offers finance exclusively on Jungheinrich warehouse equipment, reach trucks and VNA. As a captive lender they can be competitive on new equipment, particularly during promotional periods. However, they cannot compare rates across the market or finance non-Jungheinrich equipment.
| Factor | Jungheinrich Finance | Independent Broker |
|---|---|---|
| Rate range | 5.5–9.5%% | 5.0–8.5%% |
| Lenders available | 1 (captive) | 10+ on panel |
| Non-OEM equipment | No | Yes |
| Used equipment | Limited | Yes - most lenders |
| Adverse credit | No | Specialist options available |
| Single application | Yes | Yes |
| Market transparency | No | Full comparison |
Linde Financial Services vs Independent Broker for Forklift Finance
Linde Financial Services offers finance exclusively on Linde and Still brand forklifts and pallet trucks. As a captive lender they can be competitive on new equipment, particularly during promotional periods. However, they cannot compare rates across the market or finance non-Linde equipment.
| Factor | Linde Financial Services | Independent Broker |
|---|---|---|
| Rate range | 5.5–9.5%% | 5.0–8.5%% |
| Lenders available | 1 (captive) | 10+ on panel |
| Non-OEM equipment | No | Yes |
| Used equipment | Limited | Yes - most lenders |
| Adverse credit | No | Specialist options available |
| Single application | Yes | Yes |
| Market transparency | No | Full comparison |
Mitsubishi HC Capital vs Independent Broker for Forklift Finance
Mitsubishi HC Capital offers finance exclusively on Mitsubishi brand forklifts and industrial vehicles. As a captive lender they can be competitive on new equipment, particularly during promotional periods. However, they cannot compare rates across the market or finance non-Mitsubishi equipment.
| Factor | Mitsubishi HC Capital | Independent Broker |
|---|---|---|
| Rate range | 6.0–10.0%% | 5.5–9.5%% |
| Lenders available | 1 (captive) | 10+ on panel |
| Non-OEM equipment | No | Yes |
| Used equipment | Limited | Yes - most lenders |
| Adverse credit | No | Specialist options available |
| Single application | Yes | Yes |
| Market transparency | No | Full comparison |
Toyota Financial Services vs Independent Broker for Forklift Finance
Toyota Financial Services offers finance exclusively on Toyota and BT brand forklifts and handling equipment. As a captive lender they can be competitive on new equipment, particularly during promotional periods. However, they cannot compare rates across the market or finance non-Toyota equipment.
| Factor | Toyota Financial Services | Independent Broker |
|---|---|---|
| Rate range | 5.5–9.0%% | 4.9–8.0%% |
| Lenders available | 1 (captive) | 10+ on panel |
| Non-OEM equipment | No | Yes |
| Used equipment | Limited | Yes - most lenders |
| Adverse credit | No | Specialist options available |
| Single application | Yes | Yes |
| Market transparency | No | Full comparison |