Guides, calculators, and lender resources for financing Class 5–8 commercial trucks. From first-time owner-operators to large fleets.
Most commercial truck lenders require a minimum FICO score of 600–620 for approval. Prime rates (7–9% APR) typically require 680+. Scores below 620 may qualify with a larger down payment (20–30%) or a co-signer. Specialized equipment lenders like Daimler Truck Financial, PACCAR Financial, and Navistar Financial work with a wider credit spectrum than traditional banks.
The Federal Excise Tax is a 12% tax on the first retail sale price of new heavy trucks (GVWR over 33,000 lbs) and new trailers (GVWR over 26,000 lbs). FET is paid by the dealer and typically passed to the buyer — on a $170,000 truck, that adds $20,400. Used trucks are FET-exempt. Some vocational and specialized vehicles have different FET treatment.
Most equipment lenders finance up to 100% of invoice price on new trucks for prime borrowers, and 80–90% of book value on used trucks. The financed amount affects your monthly payment and total interest paid significantly. Our payment calculator lets you model different down payment amounts to find your optimal structure.
Section 179 of the US tax code lets businesses deduct the full purchase price of qualifying equipment (including Class 5–8 trucks) in the year it's placed in service, rather than depreciating over years. The 2026 deduction limit is $1,220,000 with a phase-out starting at $3,050,000 in total equipment purchases. The truck must be used more than 50% for business. Consult a CPA for your specific situation.
A loan (or finance lease) results in ownership at end of term — you build equity and can sell or trade the asset. An operating lease (full-service lease) is closer to a rental: the lessor retains ownership, you return the truck at end of term, and you avoid maintenance and residual-value risk. TRAC (Terminal Rental Adjustment Clause) leases are common in commercial trucking and set the residual value upfront. Operating leases typically have lower monthly payments but no ownership equity.