This article was originally published on Elite Finance - 22nd August 2025.
The driving force behind modern asset finance, and why the UK's business wheels keep turning – literally
In 2025, there’s a phrase being heard more and more among lenders and brokers: “anything with wheels.” While it may sound flippant, it perfectly captures a very real shift in the market. Finance providers are now funding a much broader range of vehicles – from e-bikes and vans to trucks, trailers and buses – and doing so with more flexibility than ever before.
For businesses that rely on transport to operate, it’s a welcome solution.
What does “anything with wheels” really mean?
The phrase refers to the expanding scope of vehicle-related asset finance. Where lenders once focused on new cars or vans, many are now open to funding almost anything roadworthy – and sometimes even things that aren’t. That could include:
- delivery vans
- HGVs
- refrigerated lorries
- passenger minibuses
- plant equipment with treads or tow bars
- forklifts, e-bikes and trailers
In other words, if it helps a business move people, goods or services from A to B or assists in building and construction, there’s probably a lender out there willing to fund it.
Providers simply consider “anything with wheels” in their messaging, highlighting how mainstream this approach has become. It’s practical, it’s scalable, and it reflects the growing demand for mobile assets across sectors like logistics, franchising, healthcare and construction.
Market performance: Growth with a cautious edge
Asset finance has had a solid start to 2025. According to the Finance & Leasing Association (FLA), new business was up 11% in March compared to the same period last year. Car finance for businesses rose 19%, and commercial vehicle finance ticked up by 3%.
Tech assets are also doing well: IT equipment finance rose 35%, and business equipment finance saw a 34% boost.
But it’s not all smooth sailing. In February, commercial vehicle finance actually dipped 3% month-on-month. That suggests some hesitation in the market – likely driven by cautious fleet spending and economic uncertainty.
For 2024 as a whole, asset finance reached £39.7bn, a 3% rise. Commercial vehicle finance was particularly strong, growing 10% across the year. However, the business car finance sector saw a 4% slowdown in December alone.
Compliance challenges: The FCA motor finance review
While asset finance is growing, it’s also facing scrutiny. The Financial Conduct Authority (FCA) has launched a major review into historic motor finance agreements – particularly those involving discretionary commission models.
In a recent court ruling, lenders were found to have failed to disclose commission arrangements to customers. As a result, some of the UK’s largest motor finance providers are assessing potential liabilities. Refund estimates could reach into the tens of billions.
But let’s be realistic here, surely we are not saying that everybody who was sold vehicle finance in a vehicle dealership had no idea that commissions were paid to these dealers? Seriously? True, they may not have disclosed the amount but don’t customers shop around for vehicles and “deals”?
Smarter funding with smarter tech
Surely as the market evolves, so should the way asset finance is delivered. AI and automation are already transforming many sectors, but sadly in this one there is a reluctance to adopt and change. Some progress in underwriting systems for some areas, but digital platforms and e-documentation are painfully scarce on the ground.
Lenders need to embrace digital platforms, allowing brokers and businesses to know the progress of applications and to enable faster funding decisions.
This is especially useful for SMEs, start-ups and franchisees who need access to facilities without navigating a mountain of paperwork.
Why it matters for growing businesses
For many businesses – whether they’re launching a mobile catering unit, expanding a delivery fleet or replacing minibuses for a franchise – having the right transport in place is critical. And buying outright isn’t always the smartest move.
Asset finance allows businesses to scale without draining cash flow, upgrade older vehicles, or spread the cost of essential assets over time. With today’s more inclusive criteria, “anything with wheels” has become more than just a saying – it’s an open invitation to move forward.
Supporting business on the move
As businesses continue to adapt and grow, the ability to fund core assets quickly and affordably can make all the difference. At the dt group, we work closely with business owners and franchisors to help them explore the best funding routes – from set-up support to asset finance and long-term planning. So, whether it’s a single van or something more complex, whether with or without wheels, we’re here to help keep your business wheels turning and moving forward.
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