Asset finance new business grew by 14% in April 2026
New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 14% in April 2026 compared with the same month in 2025. In the first four months of 2026, new business was 6% higher than in the same period in 2025.
The plant and machinery finance sector reported new business up in April by 36% compared with the same month in 2025. The commercial vehicle finance and business new car finance sectors reported new business growth of 5% and 18% respectively, over the same period.
New asset finance lending to SMEs grew in April by 8% compared with the same month in 2025, while new lending to larger businesses increased by 26% over the same period.
Commenting on the figures, Geraldine Kilkelly, director of research and chief economist at the FLA, said: “The asset finance market made a strong start to the second quarter, underlining the sector’s resilience as businesses continue to invest despite a more uncertain economic backdrop.
“In the near term, however, cost pressures and geopolitical uncertainty are still weighing on confidence, with higher energy prices and interest rates testing affordability. The recent agreement between the US and Iran to ease tensions offers some hope that these pressures may begin to moderate, improving the economic outlook over the medium term.
“While risks remain, there are also clear opportunities. Demand for finance continues to shift towards essential and productivity-enhancing investment, while market developments, technological change and the transition to net zero are creating new areas for growth.”
| Apr 2026 | % change on prev. year | 3 months to Apr 2026 | % change on prev. year | 12 months to Apr 2026 | % change on prev. year | |
| Total FLA asset finance (£m) | 3,736 | 14 | 11,209 | 9 | 41,057 | 4 |
| Total excluding high value (£m) | 3,502 | 10 | 10,714 | 8 | 39,056 | 4 |
| Data Extracts:
By asset: | ||||||
| Plant and machinery finance (£m) | 900 | 36 | 2,587 | 25 | 8,359 | 10 |
| Commercial vehicle finance (£m) | 924 | 5 | 3,012 | 7 | 10,838 | -2 |
| IT equipment finance (£m) | 93 | -9 | 333 | 5 | 1,279 | -2 |
| Business equipment finance (£m) | 141 | -2 | 426 | -10 | 1,768 | 1 |
| Car finance (£m) | 1,272 | 19 | 3,781 | 10 | 13,673 | 4 |
| Aircraft, ships and rolling stock finance (£m) | 21 | -7 | 102 | 5 | 428 | 43 |
| By channel: | ||||||
| Direct finance (£m) | 1,632 | 18 | 4,772 | 10 | 17,852 | 6 |
| Broker-introduced finance (£m) | 738 | -4 | 2,372 | 7 | 8,906 | 5 |
| Sales finance (£m) | 1,132 | 11 | 3,571 | 6 | 12,298 | 0 |
| By product: | ||||||
| Finance leasing (£m) | 337 | 35 | 839 | 21 | 3,154 | 2 |
| Operating leasing (£m) | 821 | 6 | 2,572 | 4 | 10,117 | 0 |
| Lease/Hire purchase (£m) | 1,993 | 14 | 6,106 | 9 | 21,104 | 2 |
| Other finance (£m) | 525 | 32 | 1,506 | 26 | 5,415 | 29 |