7 Financing Options For Truck Drivers To Grow Their Fleet

If you’re a truck driver, it’s a great time to grow your fleet, but doing so can represent a significant financial investment. When you don’t have thousands of dollars sitting in the bank, how can you purchase new trucks or trailers? How can you expand your business so you can take it to the next level? Below, we go over some of our financing options to help truck drivers grow their fleet.

Driver Financing

At 10-4 Financing, we offer drivers financing at three levels—Essential Trucks, Premium Trucks, and Dream Trucks. This means that whatever your budget, we have an option for you. Our driver financing program is ideal for new drivers who just received their CDL and are looking to purchase their first truck as a first step in gaining experience to eventually grow a fleet. 10-4 Financing’s driver financing program offers:

  • Down payments as low as 10 percent
  • Competitive rates
  • No previous commercial credit or minimal driving experience needed
  • Bad credit, past bankruptcies, and low FICO scores OK

Our underwriters evaluate each application by looking at your complete financial picture, rather than simply disqualifying you because of one temporary financial setback.

Owner-Operator Financing

If you’re already a truck owner and you want to buy a trailer, upgrade your truck, or expand your business, 10-4 Financing can assist you with these needs and then some. Just like our driver financing program, our owner-operator financing offers competitive rates and qualified customers may even be approved for $0 down payments. We’ve worked with many owner-operators to help them expand their fleet.

Truck Fleet Company Financing

We don’t just offer financing for solo businesses. If you own a trucking company, 10-4 Financing can help you further expand your fleet or upgrade your existing fleet to better serve your customers and keep your drivers safe. We deliver the best possible terms to ensure that your company is financially stable in the long-term.

Subprime Truck Financing

While other lenders might turn you down if you have bad credit, we don’t work that way. We look at your unique situation and only make a decision once we understand your circumstances. Truck financing from 10-4 Financing can help you turn the page after a difficult chapter in your life.

Trailer Only Financing

As a fleet owner, the expense of renting trailers can add up. You should own your own trailers and 10-4 Financing helps make it possible. We’ll even help you find a trailer that fits your needs, then finance it with the best rates in the industry. 

Business Lines of Credit

A business line of credit is a loan that can be used for whatever your business or fleet needs. We provide you the working capital to upgrade and grow your fleet so you can expand your business. This is unsecured funding with no collateral or revenue required.

Trucking Factoring

Factoring is a unique program that is not a loan—instead, you sell us your invoices and we advance you 85 to 97 percent of their value. We collect on the invoices from your customers and after they pay, we send you the balance, minus our fee. This frees up the cash flow you need to upgrade and maintain your fleet.

Learn More About Truck Financing

If you’d like to learn more about how 10-4 Financing can help you grow your fleet, contact us today to speak with one of our representatives.