Finance a new or used semi truck from $25,000 to $500,000. Competitive rates for owner operators, small fleets, and startup truckers. Get approved in 24 hours.
Apply for Semi Truck Financing (305) 384-8391| Loan Amounts | $25K – $500K |
| Down Payment | 0% – 20% |
| Loan Terms | 24 – 60 months |
| Interest Rates | 6% – 18% APR |
| Min. Credit | 500+ |
| Approval Time | 24–48 hours |
Semi truck financing is the process of borrowing money to purchase a Class 8 commercial truck, with the truck itself serving as collateral. It works similarly to a car loan but with much larger amounts, longer terms, and lenders who specialize in commercial vehicles.
This guide covers everything you need to know about financing a semi truck in 2026: current prices, interest rates, qualification requirements, and how to choose the right financing structure for your operation.
Semi truck prices rose significantly between 2020 and 2024 due to supply chain disruptions, and while new truck costs have stabilized, they remain historically high. Used truck prices have softened from their 2022 peaks but are still elevated compared to pre-pandemic levels.
| Truck Model | New (2025-2026) | Used (2020-2023) | Used (2015-2019) | High Mileage (1M+ mi) |
|---|---|---|---|---|
| Kenworth T680 | $180,000–$220,000 | $95,000–$140,000 | $50,000–$85,000 | $20,000–$45,000 |
| Peterbilt 579 | $185,000–$225,000 | $100,000–$145,000 | $52,000–$88,000 | $22,000–$48,000 |
| Freightliner Cascadia | $165,000–$200,000 | $85,000–$128,000 | $44,000–$78,000 | $18,000–$40,000 |
| Volvo VNL 860 | $175,000–$215,000 | $90,000–$135,000 | $46,000–$80,000 | $20,000–$42,000 |
| Mack Anthem | $160,000–$195,000 | $80,000–$120,000 | $40,000–$72,000 | $16,000–$38,000 |
| International LT | $155,000–$190,000 | $75,000–$115,000 | $38,000–$68,000 | $15,000–$35,000 |
Sleeper cab configurations add $15,000–$30,000 to these prices. Extended wheelbase, aerodynamic packages, and premium interiors on high-spec Kenworths and Peterbilts can push new truck costs past $250,000.
Interest rates for semi truck loans are driven by four factors: your credit score, time in business, truck age, and down payment. Here is a realistic rate breakdown:
| Credit Score | Time in Business | Estimated APR Range | Down Payment Typical |
|---|---|---|---|
| 720+ | 3+ years | 6%–9% | 0–5% |
| 680–719 | 2+ years | 9%–12% | 5–10% |
| 620–679 | 1–2 years | 12%–16% | 10–20% |
| 580–619 | 1+ year | 15%–20% | 15–25% |
| 500–579 | Any | 18%–28% | 20–35% |
| Truck Price | Down | Financed | Rate | Term | Monthly Payment |
|---|---|---|---|---|---|
| $85,000 (used) | 10% | $76,500 | 9% | 48 mo | ~$1,903 |
| $120,000 (used) | 10% | $108,000 | 10% | 48 mo | ~$2,742 |
| $175,000 (new) | 10% | $157,500 | 7.5% | 60 mo | ~$3,156 |
| $200,000 (new) | 15% | $170,000 | 7% | 60 mo | ~$3,364 |
Your personal and business credit scores are the primary qualification factors. A score above 680 opens the best rates and terms. Scores in the 580-620 range still qualify for most programs but expect higher rates and down payments. Scores below 580 require lenders that specialize in commercial vehicle financing for challenged credit.
Two or more years in business is the standard benchmark. Truckers with 1-2 years of business history can qualify with stronger credit. Startups (less than 12 months) face the most restrictions and typically need a larger down payment, a strong personal guarantee, and documented industry experience.
Most equipment lenders want to see that monthly truck payments represent no more than 35-40% of your gross monthly revenue. If you gross $10,000/month, you can typically support monthly truck payments up to $3,500-$4,000.
Valid CDL, active MC number, current DOT registration, and proof of minimum required insurance ($750,000 primary liability per FMCSA requirements) are standard requirements for equipment financing on Class 8 trucks.
| Factor | New Semi Truck | Used (3-7 Years) | High Mileage (7+ Years) |
|---|---|---|---|
| Purchase price | $160K–$225K | $60K–$140K | $20K–$60K |
| Down payment | 0–10% | 5–15% | 15–30% |
| Interest rate | 6–10% | 9–15% | 15–25% |
| Max term | 60 months | 48–60 months | 24–36 months |
| Warranty | Manufacturer warranty | Limited or none | None |
| Maintenance risk | Low | Moderate | High |
MFE connects truckers with equipment financing programs that cover the full Class 8 spectrum: Kenworth, Peterbilt, Freightliner, Volvo, Mack, International, and other major brands. We also offer working capital and invoice factoring to support your entire trucking operation.
Purchase financing for new and used semi trucks. The truck serves as collateral. You own the asset from day one.
Amount: $25,000–$500,000 | Terms: 24–60 months | Funding: 3–7 business days
Stop waiting 30-90 days for freight brokers to pay. Factor your invoices and receive up to 97% of face value within 24 hours.
Advance rate: 90–97% | No debt added to balance sheet
Cover fuel, insurance, repairs, and payroll gaps with a term loan or line of credit.
Amount: $10,000–$500,000 | Funding: Same day to 48 hours
Most semi truck financing programs require a minimum credit score of 580-620 for standard programs. Bad credit programs are available for scores as low as 500-550, though these come with higher interest rates and may require a larger down payment of 15-25%.
Monthly semi truck payments range from $1,400 to $4,500 depending on the truck price, down payment, credit score, and loan term. A $120,000 truck financed at 9% over 48 months with 10% down costs approximately $2,550 per month.
Yes. Bad credit semi truck financing is available for scores as low as 500. Expect higher rates (15-25% APR), larger down payments (20-30%), and shorter terms.
Most semi truck loans have maximum terms of 60 months (5 years) for newer trucks. Older or high-mileage trucks may be limited to 24-36 month terms.
Down payment requirements vary. Buyers with credit scores above 680 and 2+ years in business may qualify for 0-5% down programs. Most truckers put down 10-20%.
A truck loan means you own the vehicle and build equity. A lease means you pay to use the truck but do not own it at the end of the term. Loans are generally better for long-term owner operators.
Yes. Semi truck financing is available for sole proprietors, LLCs, S-corps, and C-corps. Lenders typically require the business to be at least 1-2 years old. Newer entities may need a personal guarantee.
Most lenders provide a decision within 24-48 hours of receiving a complete application. Funding (disbursement to the dealer or seller) typically takes 3-7 business days after signing.
Get approved in 24 hours. Competitive rates on new and used Class 8 trucks.
Apply for Semi Truck Financing (305) 384-8391Expertise: Our team includes certified funding specialists with years of experience helping businesses access capital.
Trust & Transparency: We're committed to transparent lending practices with no hidden fees or surprise terms.
Fast Approvals: Our streamlined process provides decisions within 24 hours in most cases.
Flexible Solutions: We work with you to customize funding solutions that match your specific business needs and cash flow.