How To Get A Loan For a Semi Truck

When you need a loan for a semi truck, don’t waste your time with financing companies that aren’t straightforward about their process or requirements. Instead, choose 10-4 Financing. We don’t make you jump through any unnecessary hoops and we provide financing for first-time buyers and others who may not be approved by traditional lenders. Here’s how to get a loan for a semi truck.

Pre-Qualifying for Semi Truck Financing

The 10-4 financing process makes it simple to get on the road with your new semi truck. We have no minimum CDL experience requirements, we approve first time buyers and owner operators, and we have application only programs.

We perform a soft pull of your credit history in order to pre-qualify you for a loan. You can get the process started by filling out the form on our website or giving us a call to speak with one of our representatives. Here’s the information we’ll need from you in order to pre-qualify for financing:

  • What you’re looking to finance
  • Price range
  • Maximum percentage of down payment available
  • CDL experience
  • Owner operator experience
  • Your name
  • Your phone number
  • Your email address’
  • Your state of residency
  • Bankruptcy status

While most semi truck financing companies do a hard pull to view your credit, which can lower your credit score, 10-4 Financing does a soft pull, which allows us to tell you the type of semi truck you’ll qualify for and the amount needed for a down payment.

Choosing Your Truck

Assuming you are pre-qualified and ready to move forward, we will identify your truck or you can have the ability to choose from any dealership in the United States. The benefit of working with 10-4 Financing is that we have long-standing relationships with dealers, haulers, and equipment lots across the country, which means we can assist you in finding the best deal for your budget—and help steer you away from overpriced trucks and dealerships known to have a bad reputation in the industry. 

Semi Truck Financing Approval

The next step in the process is getting your formal approval and discussing terms. We have great programs for first-time buyers and owner operators, and also offer low down payments for qualified truckers. Bad credit, low FICOs, and past bankruptcy are not deal breakers for us—we work with more than 20 different lenders, so we can find a program that is ideal for your unique needs. Only being currently in bankruptcy or having past-due child support payments are non-negotiable with 10-4 Financing.

After we’ve agreed to terms, you’ll test drive your semi truck to ensure it’s the right fit for you. Sign our documentation, supply the down payment, and we’ll fund the purchase. Make your monthly payments as agreed upon and you’ll be on your way to a lucrative career as a semi truck driver.

Learn More About 10-4 Financing

Are you interested in financing a semi truck? Contact us today at 888-908-7701 to speak with one of our representatives and get started with 10-4 Financing.