Truck Financing Options
| Option | Best For | Amount | Term | Rate/Fee | Notes |
|---|---|---|---|---|---|
| Commercial Auto Loan | Owners with 620+ credit | $25k–$120k | 36–72 months | 7%–16% APR | Monthly payments, owns vehicle outright. |
| TRAC Lease | Fleets adding 3+ vehicles | $80k–$400k | 36–60 months | Factor 1.1–1.3 | Flexible residual, tax advantaged. |
| OEM Promo | Seasonal incentives | $30k–$90k | 12–36 months | 0%–4.9% APR | Limited inventory, may require personal PG. |
Upfit Checklist
- Include ladder racks, shelving, and power inverters in the initial quote.
- Budget for wraps and GPS tracking—finance them if vendor invoices are provided.
- Keep the payment under 8–10% of revenue produced by the crew using the truck.
- Secure insurance with lender listed as loss payee prior to funding.
ROI Planning
Use the break-even calculator to confirm how many installs or maintenance plans the new truck must produce. Factor in tech wages, fuel, and marketing spend per lead.
Check out Expanding your fleet – finance vans or tap your line of credit? for a deeper walk-through on pairing truck debt with your working-capital strategy.
Case Study
Colorado 5-truck shop Added two new vans with shelving and wraps for $168k on a 60-month loan at 9.5% APR. Payment ≈ $3,530/mo. New crews added $11k monthly gross profit after cost of goods and marketing.
FAQ
Can I finance used trucks?
Yes. Lenders fund 2016+ models with under 150k miles. Expect slightly higher rates for used vehicles.
What down payment is required?
Plan on 5–15% down. Strong credit and collateral may qualify for $0 down on new inventory.
Do I need a separate LLC for the vehicle?
No. Title can stay with your existing HVAC entity. Some fleets use a holding company for insurance reasons.
How fast can we deliver?
Once we have invoices and insurance, most truck deals close within 3–5 days. OEM promos depend on allocation.
Can I roll in tools and equipment?
Yes. Add your tool list to the vendor quote so we can include it in the same approval.