7 November 2026

Getting out of an HGV lease early: termination or transfer?

Lost a contract and stuck with trucks you don't need? Compare the Early Termination Charge with transferring the lease to another operator.

When a haulage contract ends, the trucks often don't. Your business is still committed to every remaining rental. There are two ways out: pay to end the lease early, or transfer it to another operator.

Option 1: end the lease early

Every truck contract hire agreement has an early termination clause. The charge is set by your agreement and is often a large share of the rentals still to pay. Damage and excess mileage are charged on top when the truck goes back. Ask your funder for a written termination quote and check how long it's valid.

Option 2: transfer the lease to another operator

Many funders will transfer (novate) a truck lease to another business that passes their credit checks. The new operator takes over the rentals and the truck, and your liability ends when the paperwork completes. You pay the funder's transfer fee instead of a termination charge.

One owner-driver on the TruckNet UK forum was told by his funder that a transfer was "fairly straightforward apart from a small novation fee". His problem was finding someone to take it on. That's what Swap-a-Lease is for.

Be realistic about takers

Trucks are harder to place than cars, especially when the market is soft. To make your truck lease attractive:

  • Price the incentive in. A contribution towards the next operator's costs can be far cheaper than a termination charge.
  • Show the spec clearly. Cab, axles, body, tail-lift, fridge unit, mileage and service history.
  • Add good photos of the cab, body and tyres.
  • List early. The more months left, the more time to find a taker.

Who funds UK trucks

The biggest names in the 2025 FN50 truck rankings were Zenith (13,888 funded trucks), Novuna (5,956) and Close Brothers (3,002), followed by Holman and Ayvens. Check our Funders Directory and ask your funder in writing whether it will consider a transfer.

Next step

List your truck lease for £39.99, choosing "HGV / truck" or "Trailer". A success fee is only due if the transfer completes: two months' rental if 12 or more months remain, or one month's if fewer.

Want one?
Looking for your next business lease?
Post a Wanted request with your budget and term. Businesses already leasing one — and wanting out — can come straight to you. Free, anonymised, and you can withdraw it any time.