Forklift Finance
Forklifts are indispensable in logistics, warehousing, and industrial environments, but their cost can be a major barrier. Rather than tying up large sums in outright purchase, forklift finance allows you to spread the cost over time, preserving your working capital and helping growth stay fluid.
We specialise in matching UK businesses with forklift finance solutions that balance operational needs and cashflow priorities.
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Key Benefits of Financing a Forklift
Preserve working capital
Keep cash available for other priorities like payroll, inventory, or expansion.
Access modern equipment
Get newer, more efficient or eco-friendly forklifts without a heavy initial outlay.
Flexible payment structures
Terms and repayments can often align with asset life, usage patterns, or seasonal cashflow cycles.
Tax and balance sheet benefits
Depending on the finance structure, you can take advantage of tax reliefs, capital allowances or off-balance-sheet leasing.
Quick equipment turnaround
Many finance providers can get a forklift into your hands within days of approval.
Finance Options Explained
Option | How It Works |
Hire Purchase (HP) | You pay a deposit, followed by fixed payments. At the end of the term, ownership transfers to your business. |
Hire Purchase with Balloon | Reduces monthly payments by having a larger lump sum (“balloon”) at the end if you decide to take ownership. |
Finance Lease | You lease the forklift, usually with the option to buy later. You’re not responsible for depreciation, but maintenance is typically your responsibility. |
Operating Lease / Contract Hire | Effectively long-term rental. Maintenance and servicing can often be included, and you return the equipment at term end. |
Sale & Leaseback | You sell an existing forklift to a finance company and lease it back. This frees up capital while keeping the equipment in use. |
Refinance Existing Forklifts | Replace an existing finance agreement with new terms to improve cash flow or take advantage of better rates. |
Each option has different monthly commitments, ownership outcomes, and tax implications. The best choice depends on your business size, forklift usage, and cashflow preferences.
Who Can Benefit from Forklift Finance?
Forklift finance works especially well for:
- Warehousing and distribution centres
- Manufacturing plants
- Logistics and fulfilment businesses
- Construction or materials handling
- Companies upgrading to electric or automated forklifts
- Start-ups or SMEs that want to avoid tying up capital in expensive machinery
Even businesses with limited upfront capital or tighter credit circumstances can often access forklift finance, as lenders view the equipment itself as strong collateral.
What to Consider Before Financing
- Total financing cost vs outright purchase: While repayments spread the burden, interest and fees will increase your total outlay over time.
- Private use and taxation: If employees use forklifts off-hours, VAT and tax regulations may apply, so finance structures should match real usage.
- Maintenance responsibilities: Some leases include servicing, others don’t, so check what’s included.
- Mileage or usage limits: Heavy-duty or automated machines may have wear-and-tear clauses to consider.
- End-of-term outcomes: Decide in advance whether you’ll keep the forklift, return it, or renew the contract.
Getting professional advice or using an experienced broker ensures you choose the option that suits your cashflow, equipment needs and long-term strategy.
Applying for a small business loan with us is straightforward:
Assess Your Needs
Determine the amount you need and the purpose of the loan.
Check Eligibility
Ensure your business meets the basic criteria.
Prepare Documentation
Gather necessary documents such as business bank statements, financial statements, and a business plan.
Submit Application
Complete our online application form or contact our team for assistance.
Feel free to use our Business Loan Calculator
**Note: For exceeding 120 no. of payments, a group of 12 payments will be combined into a single payment number for better chart visibility.
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice. It does not take into account your personal or financial circumstances.
Our tailored and transparent process is designed to make your loan search and selection as seamless as possible
Submit Your Enquiry
Simply complete our short online form with your details and funding needs to begin your search for business finance.
Expert Consultation
Our expert will contact you to understand your requirements to match you with suitable lenders and products.
Get Your Offers
We connect you with trusted lenders and provide free quotes. Choose the best option, and we’ll handle the application.
Get Funded!
Once approved, receive your funds and start invest in your business growth and scale with confidence and ease.
What Is Forklift Finance?
Forklift finance (a form of asset finance) is a funding solution designed specifically to help businesses acquire one or more forklifts, new or used, without a high upfront payment. Instead of paying the full cost out-of-pocket, you make regular payments over an agreed term. The forklift acts as security, meaning lenders are often willing to fund a large portion of the machine’s cost.
This approach keeps your business agile and ensures you don’t forgo essential machinery just because of upfront capital constraints.
Get Answers to Your Most Common Questions
We've compiled a list of frequently asked questions to provide you with quick and helpful answers about forklift loans in the UK.
Can I finance a used forklift or just a new one?
Yes, both new and second-hand forklifts are financeable. Lenders often welcome used machines, provided they’re in good working order and the value is supported by recent valuation or inspection.
How quickly can I get a forklift financed and delivered?
Many lenders can approve finance in as little as 48 hours, and delivery of the equipment can follow soon after, depending on stock and logistics.
Is maintenance included automatically?
Not always. Some leasing or contract hire agreements will bundle in servicing, repairs, and breakdown cover. Others leave maintenance entirely to the customer. Always check the terms.
What happens at the end of the finance term?
It depends on the structure. With Hire Purchase you typically own the machine. With leasing or contract hire, you may return it, renew the agreement, or purchase it at the end for a residual value.
Why Use Apex Loans for Forklift Finance?
At Apex Loans we specialise in sourcing forklift finance that matches your operational needs and your financial flexibility:
- Connections to UK lenders specialising in material-handling asset finance
- Quick turnaround, quotes and approvals within days, not weeks
- Guidance on lease vs hire purchase, VAT recovery, maintenance responsibilities, and long-term cost planning
- Flexible options, from a single warehouse forklift to a fleet of heavy-duty or electric material-handlers
Ready to upgrade your material handling capability without draining your cash reserves? Apply today for Forklift Finance and let us help you arrange the right solution.