Allica Bank launches asset finance for established business owners to fund luxury cars
Allica Bank, the challenger bank for established businesses, today announces the launch of a new asset finance proposition designed to support high-net-worth business owners purchasing luxury vehicles.
Available from 9 June, the offer forms part of Allica’s ongoing support for established business owners, many of whom will purchase luxury vehicles in a personal capacity.
Accessible exclusively through FCA-regulated brokers on Allica’s approved panel and only for qualifying high-net-worth business owners and shareholders, the proposition is structured as an unregulated hire purchase agreement and is specifically designed for high-value, personally held assets.
The offer supports luxury vehicles that are up to 20 years old at the end of the finance term, and is available to those who have an annual income exceeding £150,000 or net assets of more than £500,000, excluding their primary residence and pension assets. Lending is available from £65,000 up to £500,000.
The launch builds on the continued growth of Allica’s asset finance division, which surpassed £1 billion in lending earlier this year. Since launching its asset finance proposition in 2021, the bank has steadily expanded its range of products in response to the evolving needs of established businesses.
Brandon Hall, head of sales – asset finance at Allica Bank, said: “Established business owners often have financing needs that don’t fit neatly into traditional business lending, particularly when it comes to personal high-value assets.
“For many high-net-worth business owners, purchasing a luxury vehicle is a significant investment, but the options available to finance those purchases don’t always reflect their circumstances. We’ve created a lending proposition specifically for those customers, giving brokers access to a lender that understands their needs.
“Asset finance remains a key area of growth for Allica. Having surpassed £1bn in lending, we continue to invest in our offering and broaden the support we can provide to brokers and established business owners in the UK.”
The announcement follows a landmark year for the bank, which saw it valued at $1.2bn after closing a £155m Series D funding round in February 2026, as well as announcing record results for 2025, including total lending reaching £3.7bn.