New and Used Semi Trucks: Financing for new and used Class 8 trucks, including sleeper tractors and day cabs.
Owner-Operators and Fleets: Programs available for individual owner-operators as well as established trucking companies adding trucks to their fleet.
Dealer and Qualified Seller Purchases: Financing may be available for trucks purchased through commercial truck dealers and other qualified sellers.
Financing from $10,000 to $5 Million: Options are available for a single truck or larger fleet and equipment purchases.
Semi Trucks: Financing for Class 8 tractors, including sleeper trucks and day cabs from major manufacturers.
New and Used Trucks: Financing options are available for both new and used commercial trucks, subject to age, mileage, credit, and other underwriting requirements.
Related Trucking Equipment: Financing may also be available for trailers and other equipment used in your trucking operation.
Financing requirements vary based on the truck, purchase price, time in business, credit profile, and overall transaction. For many owner-operator and trucking transactions, lenders may consider:
Preserve Working Capital: Financing allows you to acquire the trucks your business needs without using a large portion of your available cash.
Match Payments to the Asset: Spread the cost of a truck over time rather than paying the full purchase price upfront.
Add or Replace Trucks: Financing can help owner-operators and fleets replace aging trucks, add capacity, or expand into new routes and contracts.
Potential Tax Benefits: Depending on your situation, financed equipment may qualify for depreciation or other business tax deductions. Consult your tax professional regarding eligibility.
Can I finance a used semi truck?
Yes. Financing may be available for both new and used semi trucks. For used trucks, lenders typically consider the truck's age, mileage, condition, purchase price, and the borrower's overall credit profile.
What credit score is needed to finance a semi truck?
Credit requirements vary by financing program. Some semi truck programs may consider borrowers with credit scores around 640 or higher, while other options may be available depending on time in business, down payment, truck value, and the overall strength of the transaction.
Can an owner-operator get semi truck financing?
Yes. Direct Credit Funding works with owner-operators as well as established trucking companies and fleets. Available programs depend on factors such as time in business, credit history, truck specifications, and financial strength.
How old can a used semi truck be and still qualify for financing?
Age and mileage limits vary by program. One common program generally considers trucks that are 10 years old or newer with 500,000 miles or less. Other financing options may have different requirements.
What documents are needed for semi truck financing?
Documentation varies by transaction. Many applicants begin with a credit application and information about the truck being purchased. Depending on the program, recent business bank statements, an invoice or purchase order, and additional business information may also be required.
How much can I finance for a semi truck?
Direct Credit Funding provides commercial equipment financing from approximately $10,000 to $5 million. The amount available for a semi truck transaction depends on the borrower, truck, purchase price, credit profile, and financing program.
How quickly can semi truck financing be approved?
Many transactions can receive a credit decision quickly once the necessary information is received. Timing depends on the size and complexity of the transaction and whether additional financial documentation is required.
