Truck financing has more rules than any other equipment: mileage caps, model-year cutoffs, CDL history, glider bans, GPS units. Send a file to the wrong lender and you burn a week. We route it right the first time.
What we finance
The rules that decide truck deals
- Mileage. Many programs cap used tractors around 650,000 miles. Some go higher on a rebuilt engine with documentation.
- Age. Most want model year within 10 years at funding. Older trucks go to story-credit programs with shorter terms.
- Gliders. Glider kits are not financeable through our programs. Do not buy one expecting to finance it.
- CDL and experience. Lenders want to see CDL history, usually two-plus years driving. A new authority with an experienced driver is a normal file.
- GPS. Expect a GPS unit on any titled vehicle from several programs. It is standard, not a credit judgment.
- Insurance. Physical damage and $1M liability with the lender as loss payee before funding. Have your agent lined up early; insurance is the most common delay on truck deals.
- Title. The lender is lienholder on the title. Some programs handle titling in-house, which speeds things up in states like Texas.
Owner-operators and first-time buyers
Leaving a company job to run your own truck is the most common file we see. What makes it work: two-plus years of CDL history, a personal score above roughly 600, 10 to 25 percent down depending on the score, and a plan for freight, whether that is a lease-on with a carrier or your own authority with a load board history. A signed lease-on agreement or a dedicated lane letter strengthens the file a lot.
Past repossession or bankruptcy is not automatically fatal. If the bankruptcy is discharged and closed, and the repo is a few years back with clean payments since, we have programs that will look.
Dealer, private party, and auction
Dealer trucks close fastest. Private-party trucks are fine with a bill of sale, title in the seller's name, a lien check, and an inspection. Auction trucks need pre-approval before bid day. In all cases, get the VIN and the mileage photo to us early.
What a payment can look like
Rough ranges so you can budget before you call a dealer.
| Amount financed | Term | Strong credit | Average credit | Challenged or start-up |
|---|---|---|---|---|
| $55,000 | 48 mo | $1,366/mo | $1,473/mo | $1,613/mo |
| $95,000 | 60 mo | $1,967/mo | $2,157/mo | $2,407/mo |
| $140,000 | 60 mo | $2,899/mo | $3,178/mo | $3,547/mo |
| $185,000 | 72 mo | $3,326/mo | $3,704/mo | $4,209/mo |
Illustrative estimates only, not offers or quotes. Real payments depend on the funding program, credit, time in business, down payment, equipment age, and documentation fees. Seeing your actual options starts with a soft credit inquiry. Run your own numbers in the payment calculator.
Questions we get
Can a first-time owner-operator get semi truck financing?
Yes. We place first-time buyers every week. Plan on 10 to 25 percent down, two-plus years CDL, and a clear freight plan. A lease-on letter from a carrier helps.
Do you finance semi trucks with bad credit?
We review every score. Below 600 goes to story-credit programs that weigh bank statements, CDL history, and down payment more than the number. Rates run higher and terms shorter, but the truck can still get financed.
What is the maximum mileage on a used truck?
Roughly 650,000 miles with most programs. Documented in-frame rebuilds can extend that. Anything over 800,000 is a hard sell.
Do you finance glider kits?
No. None of our programs fund gliders.
How much down payment on a semi?
Zero to 10 percent on strong established files, 10 to 25 percent for start-ups and challenged credit. Some programs accept first and last payment in place of a down payment.
