Class 8 trucks typically finance over 60–72 months at 7–15% APR with 580+ owner FICO and $0–$15K down — titled equipment with a deep secondary market makes underwriting straightforward. Both new and used trucks up to 7 years old finance well; title loan, TRAC lease, and $1 buyout lease are the three standard contract structures.
Trucking equipment financing benefits from a deep, liquid secondary market — Class 8 trucks (heavy-duty semi-tractors), trailers, and most fleet equipment have established resale values that make collateral analysis straightforward for lenders.
Typical structure for a $130,000 used Class 8 truck:
Common structures: title loan (you own the truck and pay it off), TRAC lease (you make payments and have a buy-out option at end of term), $1 buyout lease (functionally a loan structured as a lease for tax purposes). Each has different tax and ownership implications — talk to your CPA about the right structure for your situation.
If this fits your situation, apply with ClearValue Lending — your file routes to one matched lender.
Owner-operators starting their first authority face a tougher path — most lenders prefer 6–24 months of operating history before financing. Newly-licensed operators often start with a higher down payment ($20–25k), a co-borrower with stronger credit, or a leasing company that provides equipment alongside dispatch services.
An owner-operator with 2 years of MC authority, 650 FICO, and $14,000/month in average deposits finances a $130,000 2021 Freightliner. Typical structure: $10,000 down, 72-month term at 11% APR on the $120,000 balance → ~$2,290/month. Section 179 may allow a meaningful first-year deduction depending on tax posture — talk to your CPA.
TRAC leases look cheaper monthly than title loans but carry a balloon residual at end of term. Always model the full lifecycle cost including the residual before signing — a low monthly payment can hide a five-figure balloon.