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 Truck Financing

Trucking is currently a thriving industry, and a huge portion of American cargo is transported by trucks. With this volume of goods moving by road, the trucking sector has become quite lucrative. However, there’s the fact that large companies are moving the bulk of the load while smaller trucking business owners struggle to finance a box truck.

About National Truck Loans

On the bright side, we have good news—Truck loans! Truck financing in the form of truck loans is one of the most popular and reliable ways for business owners to handle the costs and miscellaneous expenses related to trucking as a whole.

Are you a small trucking business owner? Then, you should get truck financing and secure a truck loan from National Truck Loans. We run the best packages and options and always put you first.

Here’s Why You Need Truck Financing

There is money in the trucking business, yet it's expensive to run. With the strain of driving a truck and spending long hours on the road, it’s no surprise that good employees are difficult to find and retain. As a result, you'd need to compensate them well in order to gain their loyalty properly. 

As a small trucking business owner, you have to handle start-up costs, cash flow gaps, and challenges. If that’s not enough, you’ll still have to meet up with payroll. This is just one of the many things that getting truck financing can sort out. The loan funding can handle truck maintenance, spare parts purchase, day-to-day operations (or expenses), and other taxes and license fees.

We're Not Brokers - We Loan Our Own Money

Here at National Truck Loans, we do not have a rigid and inconsiderate approval process. We understand that traditional banks and leasing companies can be annoying. This is why we exist as one of the best big truck financing businesses out there. We have a track record of being understanding and giving trucking businesses the help they need to start or continue running. It is our own money. We have no hidden players behind the scenes, and we're not afraid to give truck loans to those we deem fit.

National Truck Loans doesn’t work for the dealer we work for you, the borrower.  We don’t give kickbacks and since it's our money we want to make sure our borrowers get a good deal because we are a team and if you are upside down then so are we, we want you to be at or below fair market value, we need you to buy smart and get a great deal, that way we are both in a strong position and both parties are happy.


Truck Financing Requirements

Truck financing would require a few things that a small trucking business must show to facilitate its application for a truck loan. The following truck financing requirements will determine the expected terms regarding loans, interest rates, and suitable down payment: 

  • You need a credit score of at least 650 to get the best truck finance rates. We can also provide help for those with lower credit scores. 

  • You need to have been in business and own a CDL license for more than three years, preferably. However, we finance start-ups as well.

  • A reasonable down payment amount for your desired truck.

  • A truck that is not more than a decade old and truck mileage is still less than 700k miles.


What is The Collateral for Truck Financing?

When you decide to get financing for trucks, which in this case are commercial vehicles, the equipment becomes the collateral for the truck loan. This helps the lender reduce their risks by a lot. Once the risk is reduced for the lender, you should easily qualify for trucking financing. 


Why Choose National Truck Loans?

It would help if you found a partner like National Trucks Loans that is willing to understand and support your trucking choices. Your success in the trucking industry is highly dependent on who provides the financing. 

We are highly experienced and are accessible to everyone, from small truck business owners to the owners of large fleets. We offer a range of trucking finance solutions and financing programs that are suited to your budget and wishes. At the end of the day, our only wishes are to support your profits and help your business grow.


How to Determine My Eligibility for Truck Financing?

It is always advisable to first seek approval from the truck finance company before actually meeting a dealer and selecting a truck.

We offer a simple and soft check on your credit without totally messing up your credit. The pre-approval process held by National Trucks Loans makes it easy to preserve your credit score while awaiting information on your eligibility for possible truck financing.


Factors That Determine Eligibility for Truck Loans

There are many things that come into play when determining the eligibility of a trucking business for trucking financing. Commercial truck financing is crucial to the success of these businesses. Having a truck that can efficiently adapt to the constantly changing regulations is important for a company to maintain sustained growth.  

It's always a smart choice to go with the best, as we have made the funding process swift and seamless. Do not waste time applying here and there. Instead, you can learn our requirements and move things around till you're a perfect match for financing.

To make things much easier, here are some factors that are double-checked and brought into consideration by the financing company.


  • Having good credit: 650 and above takes you through the door. However, National Truck Loans provide loans regardless of bad credit history. The overall credit will be reviewed, and it influences the final decision. We also try to look at certain positive parts of your credit history.


  • Down Payment: While you don't necessarily need to get a new truck, we advise you have at least forty to fifty percent of the total cost for the down payment.


  • Time and Commercial Driver’s License (CDL): Having your CDL is compulsory, and if you've had it longer, that's a perk too. Three years of verified driving experience is the best-case scenario that makes you almost immediately eligible.


  • Age of Truck: Nobody wants to spend so much time fixing and maintaining a truck they just got. However, not everyone has the budget for a new truck model. Bottom line, for the application to be pre-approved, the prospective truck should be at most a decade old. Anything older may affect your eligibility in the long run.


Truck Financing and Credit

Credit scores play a big role in helping you get truck financing. So when searching for a truck, always keep your credit health in mind, as many small trucking businesses harm their credit scores to get a truck that's more suited to their taste rather than their credit score.

Choosing a really expensive truck when you have poor credit can be detrimental to your application for truck loans. So be careful to put your credit health first in making your choice for a truck.

It would be best if you also tried to avoid dealers because of your credit and stick to truck financing companies. This rings true especially when you're looking to apply for truck financing, as dealers also tend to send your information around. This leads to many hard inquiries that may damage your score extensively.

Don't be afraid, though; here at National Truck Loans, we offer you a soft-credit check. We are different, and our methods are carried out to make sure we don't do any damage to your credit score.

How To Get Truck Financing?

Obtaining finance for trucks has never been easier than this. It’s a bit different from normal vehicle loans or financing. If you're looking to get trucking financing, you can simply apply to National Truck Loans.

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What FICO Score Do I Need to Get To Qualify for Truck Financing?

Fair Isaac Corporation (also known as FICO®) Score is extremely important when looking for loans, and truck loans are not excluded from this. Your three-digit score shows your measurement of creditworthiness, and it describes whether you are known to pay back debts or default. It ranges between 300 and 850, with 300 as the lowest score and 850 as the highest.

As a rule of thumb, lenders are more willing to give loans to people who have strong FICO scores.


The following is a brief breakdown of FICO score ranges and what they imply:

  • 300 to 579: This score is pretty poor, and only a few people belong to this range. Most times, poor credit scores would attract larger fees and deposits. 

  • 580 to 669: These are the fair credit scores, and they are not so common but are much better than poor credit scores. People who fall into this range are sometimes called Subprime borrowers.

  • 670 to 739: This is a good credit score range. They are less likely to default on payments, and more people have their credit scores fall within this range. 

  • 740 to 799: This range is known as very good credit scores, and their interest rates are better. Most people are in this bracket or range. 

  • 800-850: This is the best credit score range, and the interest rates are amazing. They are characterized as exceptional scores, and they are usually the result of paying back debts on time and other factors.


In most cases, people have their credit score within the 600s to 700’s.

Advantages of Getting Truck Loans from A Truck Financing Company

When you get truck financing, you stand to gain a world of benefits, including:

  • Truck ownership without leasing or renting

  • Business growth with the ability to keep expanding

  • Financial flexibility with extra income to spare for emergencies and to sort out business expenses like payroll and taxes.


Truck image in Blue background

Chris Cadahia

Great lender without the bureaucracy and gotcha’s from your typical truck finance broker. Really makes a difference when you work with a lender like National Truck Loans that uses their own money to fund loans and know the industry. They’ve been a great financial partner and appreciate the support!

SFL Supply Inc Review

SFL Supply Inc.

National truck loans helped me grow my fleet by several trucks. Very simple, professional and helpful on every step of the way until the end. Recommend to any carrier. Thank you

Juan Insegna Review

Juan Insegna

I had a very good experience. Micheal and Junior helped me a lot, they always answered all my questions and they work very fast. I recommend it.

Good Credit, Bad Credit, No Credit


  • What type of trucks do you finance?
    National Truck Loans is a truck financing company that provides easy truck financing for all types of semi trucks. You can get truck financing for trucks sold either through truck dealers or private sellers. We make truck loans easy no matter the brand of truck you are looking to finance. All brands includes Mack, Peterbilt, Freightliner, Volvo, and even International.
  • Can you finance trucks with bad credit?
    Yes! At National Truck Loans, no matter your credit history, we can help you when other truck finance companies can’t. We have been a truck financing company for many years, so we are familiar with the challenges many faces. If you have bad credit, reach out to us. We can help you; that’s our specialty. We provide finance for trucks with Bad credit, Great credit, and Everything In-between. Our financing program is set to fit your needs.
  • Can I get a truck loan with a tax lien?
    Yes, you can. Even with a tax lien, National Truck Loans can help in truck financing. We are willing to extend credit for you.
  • Do you report to credit agencies?
    When you take a truck loan from us, we report to major credit agencies to rebuild your credit. We have helped many owner-operators to get hold of their credit through our accessible truck financing business.
  • Do you finance anything other than trucks?
    Yes, we do! In addition to commercial trucks, we also finance trailers and engine overhauls!
  • Do you do truck financing for startup trucking companies or new operators?
    Yes, we do. At National Truck Loans, we specialize in truck financing for startup trucking industries and new operators in the trucking business. If you are a new operator and you are in search of trucking finance to help your trucking business, we are here for you. We have all you need to run a smooth business.
  • Do you provide truck financing for higher mileage trucks?
    Yes, we do. We provide truck financing for startup trucking businesses looking to get a truck loan, including for higher mileage trucks. National Truck Loans offers everything you'll need.
  • Is it hard to get a truck loan?
    It is not hard to get a truck loan. Truck financing is more than a good credit score. It would be best if you had a good driving experience and strong revenue generation. If you have a bad credit score history, it is essential to choose trucking finance companies specializing in bad credit loans. We specialize in helping you finance truck expenses and make the most of your business.
  • How does truck finance work?
    Truck financing involves business owners using their trucks as a loan or collateral, which helps to reduce the risk for the lenders. Lenders hold on to the title of your truck until you pay off the truck loan. They may also seize your truck if you do not fulfill your loan obligations. You can find truck financing from traditional banks or truck lending companies. With truck financing, you can start driving your truck with little or no down payment.
  • How long are trucks financed for?
    The average lifespan of a truck loan for a new truck is five years (60 months). It all depends on your down payment. The loan may not exceed three years (36 months) if you buy a secondhand truck.
  • How do I determine my eligibility for a truck loan?
    Various factors determine whether you will get truck financing or not. They include your credit score, years in business, down payment, truck mileage, commercial driver’s license (CDL), tax liens, and truck age. But we at National Truck Loans approve trucking finance for business owners with bad credits, tax liens, or bankruptcy.
  • Can I get access to truck financing without a CDL?
    Yes, you can. Truck financing programs are available for business owners without a CDL. Before applying for a truck loan in a truck finance company, be sure a CDL is not part of the lender’s requirements for financing. Also, the person driving the vehicle may differ from the person paying for the truck. It doesn't matter who is behind the funding as long as a person with a CDL is the driver.
  • Can I finance a truck with bad credit?
    Yes, you can. What some lenders consider bad credit may be satisfactory for another truck lender. This is why it is essential to thoroughly review each lender's eligibility requirements before making your choice.
  • Can I review loan terms and interest rates before getting a loan?
    Of course! When you apply at National Truck Loans, you are free to go through all the details of your loan and ask questions before committing. Our services are fair and transparent.
  • What kind of truck can I buy if I apply for a truck loan?
    When you decide to get truck financing, you can buy any truck of your choice. You can buy yourself a semi-truck, work truck, or commercial truck. There is no limit on what your loan can buy from any truck dealer or buyer. The type of truck your loan can buy depends on the brand, mileage, and features like fuel capacity and engine specifications.
  • How does truck financing benefit my business?
    There are various benefits of using truck financing for your business. Some include flexibility of finances, business growth, and truck ownership.
  • Do I need insurance for truck financing?
    Yes! Before you can get approval for truck financing, you need commercial truck insurance. The insurance you choose depends on what you need to be covered. It would help if you also made sure the insurance costs are what you can afford, together with your loan payments. The most common type of commercial truck insurance are: General liability insurance Non-trucking liability insurance Workers' compensation insurance Primary liability insurance Motor truck cargo insurance Physical damage insurance Bobtail insurance
  • I'm buying a used truck. Does that mean I can't finance it?
    No. The type of truck you are buying doesn’t affect your truck financing. Just like a new truck, a used truck can also be financed. All you have to do is talk to your salesman.
  • What are the things to know before applying for a truck loan?
    There are quite a several things you need to know. You need to ask yourself relevant questions like, Do I want a new or secondhand truck? Can I make a down payment? Will the truck tend to my business needs? Do you understand what truck financing entails? It would be best if you were informed and sure of what your business needs to avoid a bad purchase.
  • What documents do I need to get financing?
    There is no one way to do this. The documents needed for financing vary from one truck financing company to another. But there are primary documents you should prepare: Business License Personal identification Insurance proof Relevant permits CDL Social security number Financial/Tax records Information about the trucks you want to finance. Why do you want to buy them?
  • What is the interest rate on a truck loan?
    No set interest rate. Truck lenders set their rates based on your overall credibility, the type of truck you want, why you want to buy it, and the lender’s requirements. Nothing is fixed, but you can see annual interest between 5% and 50%.
  • How much do I pay as a down payment?
    The standard percentage is 10% of the cost price. But the sales manager will approve a payment that fits your budget for you to enjoy easy truck financing.
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