What credit score do I need to finance a semi truck?

There is no fixed minimum, because the truck secures the loan. Lower scores usually mean more money down, a shorter term, and a higher rate.

Can I finance a used truck?

Yes. Lenders set age and mileage limits, and terms shorten as the truck gets older.

What does a $150,000 truck loan cost?

At a representative 8%–30% APR, about $3,041–$4,853 a month over 60 months.

WithFunded › Best-of guides › By product

Best equipment financing for trucking companies in 2026

The best equipment financing for a trucking company is a standard equipment loan for trucks you will run for years, and a lease when you rotate tractors to stay under warranty. Lenders price mostly on the truck's age and mileage, your time in business, and your down payment. A sale-leaseback can raise cash from trucks you already own.

By the WithFunded team · Published November 11, 2026 · Rates as of November 2026

The short list

Best for trucks you will keep: Equipment loan
Best for rotating newer tractors: Equipment lease
Best for cash from a paid-off fleet: Equipment sale-leaseback
Best for a large fleet expansion: SBA 7(a) loan

The 4 best options, ranked

1. Equipment loan Best for trucks you will keep

A loan builds equity in a tractor or trailer with a long service life. Once it is paid off, the truck keeps earning with no payment against it.

Watch for: Older or highly specialized equipment gets shorter terms and higher rates. Equipment financing guide →
2. Equipment lease Best for rotating newer tractors

Fleets that trade tractors every few years to control maintenance costs get a lower payment and a simple exit with a lease.

Watch for: On a fair-market-value lease you do not own the equipment unless you pay the buyout. Equipment financing guide →
3. Equipment sale-leaseback Best for cash from a paid-off fleet

Owned trucks can be sold to a funder and leased back, which raises working capital for fuel, insurance, or a down payment on more equipment.

Watch for: You turn an asset you own into a monthly payment, so the cash has to earn more than it costs. Equipment financing guide →
4. SBA 7(a) loan Best for a large fleet expansion

Adding many units at once alongside a terminal or working capital can be packaged in one 7(a) loan at a capped rate.

Watch for: Heavy documentation, and the timeline rules it out for anything urgent. SBA loan guide →

Side-by-side comparison

Option	Verdict	Cost basis	Funding speed	Qualifies on
Equipment loan	Best for trucks you will keep	Representative 8%–30% APR, with the term matched to the equipment's useful life	Days to weeks	The equipment is the collateral, which can offset a thinner credit profile
Equipment lease	Best for rotating newer tractors	A monthly lease payment; total cost depends on the end-of-term buyout	Days to weeks	The equipment is the collateral; often less cash up front than a loan
Equipment sale-leaseback	Best for cash from a paid-off fleet	Lease-style pricing on equipment you already own	Days to weeks	The resale value of equipment you own free and clear
SBA 7(a) loan	Best for a large fleet expansion	Capped at 10.00%–13.50% by loan size (prime plus the SBA maximum spread)	Weeks to months	Generally stronger credit and two or more years in business

What it costs

Monthly payments on a standard fixed-payment loan at the representative 8%–30% APR band. The low end of each range is 8% APR and the high end is 30% APR.

Amount	36 mo	48 mo	60 mo	72 mo
$60,000	$1,880–$2,547	$1,465–$2,160	$1,217–$1,941	$1,052–$1,805
$150,000	$4,700–$6,368	$3,662–$5,401	$3,041–$4,853	$2,630–$4,513
$300,000	$9,401–$12,735	$7,324–$10,802	$6,083–$9,706	$5,260–$9,025

Financing $150,000 over 48 months costs about $3,662–$5,401 a month, or $25,773 to $109,243 in total interest, depending on the rate you qualify for. WithFunded calculation, representative 8%–30% APR band. Not a quote.

What lenders look at

Truck year, mileage, and engine hours.
Time under your own authority and your safety record.
Down payment. More down offsets a newer authority or weaker credit.

Mistakes to avoid

A term that runs past the point where major repairs begin.
Ignoring the end-of-lease terms: mileage limits, wear charges, and the buyout price.

Frequently asked questions

What credit score do I need to finance a semi truck?: There is no fixed minimum, because the truck secures the loan. Lower scores usually mean more money down, a shorter term, and a higher rate.
Can I finance a used truck?: Yes. Lenders set age and mileage limits, and terms shorten as the truck gets older.
What does a $150,000 truck loan cost?: At a representative 8%–30% APR, about $3,041–$4,853 a month over 60 months.

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WithFunded has a dedicated page for trucking companies: trucking.withfunded.com.

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How we ranked these options

This guide ranks types of financing, not individual lenders. Each option is ordered by how well it fits the need described on this page, judged on four things in this order: whether the structure matches how the money will be used and repaid, total cost, funding speed, and how hard it is to qualify. Cost figures are WithFunded calculations from published rate inputs as of November 2026: the bank prime loan rate from the Federal Reserve, the SBA maximum-rate schedule, and Federal Reserve survey data. The method follows our 2026 SMB Financing Cost Report, whose own figures use June 2026 rates.

WithFunded is a financing marketplace, not a lender. Our 2-minute form suggests a product type from the families we cover, and a funding partner reviews the request. Not every structure named in this guide is available through WithFunded: options such as SBA microloans, USDA farm loans, bank loans, and seller financing are ones you would pursue directly with the provider. They are listed because leaving out a good fit would make the ranking less useful.

Related guides

The top-ranked option on this page is equipment loan because it fits the most common version of this need. Your own best fit depends on your revenue, time in business, credit, and how fast you need the money.

Disclaimer. WithFunded and Big Think Capital are a financing marketplace; we are not the direct lender and do not guarantee funding, approval, rates, or terms. Everything on this page is a representative example only — not an offer or a commitment to lend, and not financial advice. Actual rates, fees, payments, and terms are set by the funding lender and depend on your business, credit, and the product. Where required by state law, the lender provides cost-of-financing disclosures before any agreement is signed.