Case Study: £523k of Volvo Grab Lorry & Tipper Finance for UKAP
Posted: 22 October 2026
UKAP, the Cheshire tipper hire, grab hire, aggregates and plant hire company, is replacing its fleet with brand-new Volvos. Founded in 2018, UKAP has become a recognised and trusted name in the industry, and has grown its fleet of tipper and grab lorries strongly over the past few years.
Boost Finance arranged the finance for the first three trucks, two Volvo FMX 8×4 tippers and a Volvo FMX 8×4 grab lorry worth £523,000 plus VAT, with deposits of just £2,000 per tipper and a VAT-only deposit on the grab.
At a glance
- Customer: UKAP, tipper hire, grab hire, aggregates and plant hire, Cheshire
- Vehicles: 2 × new Volvo FMX 8×4 tipper lorries and 1 × new Volvo FMX 8×4 grab lorry
- Total value: £523,000 plus VAT
- Deposit: £2,000 per tipper; VAT-only deposit on the grab lorry
- Funding: Tier 1 lender rates on all three trucks
- Outcome: Paid out on schedule, delivered and working straight away
About UKAP
UKAP supplies tipper hire, grab hire, aggregates and plant hire to construction and groundworks customers across Cheshire and the North West. Its tippers and grab lorries are the business: if the trucks aren’t running, the work doesn’t get done.
The challenge: replace the fleet without hurting cash flow
UKAP had started a fleet replacement programme. After problems with trucks from other manufacturers, the team decided to move to an all-Volvo fleet. They were impressed with the Volvo FMX and with Volvo’s Gold repair and maintenance package.
The first phase was three new Volvo FMX 8x4s:
- Two tipper lorries at £158,000 each plus VAT
- One grab lorry at £207,000 plus VAT
That’s more than half a million pounds of new trucks. The brief was simple: buy all three with the smallest possible deposit, so that cash stayed in the business for wages, fuel and day-to-day running costs.
How Boost structured the finance
We took the deal to our panel of lenders and secured tier 1 lender rates on all three trucks. Those are the rates mainstream lenders offer strong, well-run businesses.
Tippers: £2,000 deposit per truck. On two tipper lorries worth £316,000, UKAP put down just £4,000 between them.
Grab lorry: VAT-only deposit. For the grab, the deposit was simply the VAT on the purchase price, with nothing more on top. When you buy a truck on hire purchase, the VAT is normally paid upfront unless you request a VAT deferral. A VAT-registered business can typically reclaim the full VAT amount on its next VAT return, so a VAT-only deposit means almost no long-term cash goes into the deposit. Your accountant can confirm how this works for your business.
Payout on time. A new truck order involves the customer, the dealer and the lender all working to the same dates. We managed the paperwork and the payout so the money reached the supplier when UKAP and the dealer expected it. There were no delays to the handover.
The result
All three Volvos were delivered on time and went straight out to work. UKAP has three new trucks on a manufacturer repair and maintenance package, on competitive rates, while keeping almost all of its cash in the business.
“Boost made the whole process seamless! They understood what we were looking to do and swiftly arranged the funding we required to assist our fleet renewal. We kept our cash where we need it and the trucks were working and out earning from day one. Thank you Boost for your continued support.”
Calum, Managing Director, UKAP
We’re looking forward to helping UKAP with the next phase of its fleet replacement.
What this means for your business
- New trucks from a main dealer are among the easiest assets to fund. Lenders like new vehicles with strong resale values, and that’s often what unlocks low deposits.
- A good trading record pays off. An established business that has been trading for three years or more, with healthy accounts, can often borrow on tier 1 rates with very little down.
- Specialist bodies aren’t a problem. Grab lorries and tippers are core lending for the right lenders. The trick is knowing which lenders understand them.
- Plan the payout early. Bringing the broker in when you place the truck order means the finance is ready when the dealer is.
Grab lorry and tipper finance FAQs
Can I finance a grab lorry or tipper with a low deposit?
Often, yes. It depends on the truck, its age and your business’s trading history and credit profile. Established businesses buying new trucks are the most likely to get low or VAT-only deposits. Every application is subject to the lender’s approval.
What is a VAT-only deposit?
It’s where the only money you put down is the VAT on the purchase price. On hire purchase the VAT is usually due upfront. VAT-registered businesses can normally reclaim it on their next return, so very little of your own cash is tied up long term.
What is a VAT deferral?
A VAT deferral means the VAT on a truck or piece of equipment doesn’t have to be paid straight away. Payment can be delayed by up to three months so that it lines up with your company’s VAT return. You can then reclaim the VAT on the purchase before the payment is due, so there’s little or no impact on your cash flow. Not every lender offers VAT deferral, so ask us which options suit your deal.
Can I finance several trucks at once?
Yes. We regularly arrange finance for several vehicles in one go, whether that’s a fleet replacement programme or a mix of tippers, grabs and tractor units. We can also spread a larger fleet across more than one lender.
Do you only fund Volvo trucks?
No. We fund all makes and models, including DAF, Scania, Mercedes-Benz, MAN, Iveco, Renault Trucks and Volvo. Boost Finance is independent and isn’t affiliated with any manufacturer.
Replacing or growing your fleet?
Whether it’s one tipper or a full fleet replacement, Boost Finance can find the right lender and structure for your business. See how we help construction businesses and utilities and waste firms, read about business hire purchase, or get in touch to talk through your next truck.
Boost Finance is a credit broker, not a lender. Finance is subject to status and available to UK businesses only. The deposits and rates in this case study were specific to this customer and aren’t guaranteed for other applications.