How Do You Finance a Truck?

How Do You Finance a Truck?

Jun 10, 2025

Financing a truck doesn’t have to be complicated. Whether you're a first-time buyer or an experienced owner-operator, understanding the process can help you get approved faster and avoid hidden costs.

Here’s How Truck Financing Usually Works:

  1. Application: Provide business info, SSN or EIN, and truck details
  2. Credit Check: A soft or hard pull depending on lender
  3. Pre-Approval: Find out if you qualify and what your rate might be
  4. Document Submission: Includes proof of income, CDL (if needed), and truck invoice or sales contract
  5. Funding: Lender issues payment to the dealership or seller

Additional Tips:

  • A larger down payment can lower your interest rate
  • New businesses may need extra documentation (bank statements, contracts, etc.)
  • Work with a lender who understands commercial vehicle financing

At NEF Now, we simplify the process and match you with programs that fit your business size, credit profile, and truck type.