SEMI TRUCK FINANCING — UP TO $5M+
Semi truck financing
built for owner-operators.
Semi truck loans for new and used Class 8 tractors — sleeper or day cab, from a dealership or from another owner. One application goes to 40+ lender partners, decisions typically come back within 24 hours, and funding typically completes within 2–5 business days.
THE SHORT ANSWER
What is semi truck financing?
Semi truck financing is a commercial loan secured by the tractor itself — a new or used Class 8 sleeper or day cab, bought from a dealership or from another owner-operator. TOBO Capital Group is not a lender: one application goes to 40+ lender partners, decisions typically come back within 24 hours, and funding typically completes within 2–5 business days. Rates run from 8% to 13% based on qualifications, with terms from 36 to 72 months.
SEMI TRUCK FINANCING
Built around the truck you found,
and the business behind it.
Semi truck financing companies do not all weigh the same things. Some want a late-model sleeper from a franchise dealer; others are comfortable with an older day cab bought out of another owner-operator’s yard. TOBO takes one application to 40+ lender partners and matches the request to the ones that fit the truck, the seller and your business profile.
WHAT CAN BE FINANCED
Sleepers, day cabs,
new or used.
The truck type shapes which funding partners respond and how they value the asset. It does not change the application.
| Truck | Typical work | Notes |
|---|---|---|
| Sleeper tractor (Class 8) | Regional and long-haul, team or solo | New or used; dealer or private seller |
| Day cab tractor | Local and regional freight, drayage, yard work | Often bought used; the same application |
| Used semi truck | Any of the above | Age and condition shape which partners respond — see used truck financing |
| Tractor with a trailer | Bundled purchase | One request covers both units — see trailer financing |
Box trucks, dump trucks and tow trucks run through the same application. Box trucks have their own page: box truck financing.
Semi truck loans, one application
Sleeper or day cab, new or used: the request goes to 40+ lender partners at once, and we bring back the structures that fit instead of one lender’s yes or no.
Dealer or private seller
Buying from another owner-operator is covered here, not treated as an exception. The title, lien and payoff steps are part of the job.
Soft credit pull to compare
Checking your options does not touch your credit score. A hard inquiry happens only if you choose a specific lender and authorize it.
IS IT A FIT?
Who this is for —
and when it is not.
A good fit
- An incorporated business — Inc. or LLC — with 2+ years operating
- A first tractor, a replacement, or the next truck in a small fleet
- A used sleeper or day cab with real miles on it
- A truck found at a dealership or in another owner’s yard
Probably not the right tool
- Businesses under 2 years old or not incorporated — freight factoring is usually the realistic first step
- Personal or household purchases; this is business financing only
- Lease-purchase and rental programs — this is financing to own the equipment
- Zero-down or no-credit-check programs, which are not what this network offers
WHAT LENDERS REVIEW
Five things
that decide the answer.
The same five items come up on nearly every semi truck request. Having them ready is the difference between a decision inside 24 hours and a week of back-and-forth.
| Factor | What it means for a semi truck request |
|---|---|
| Time in business | Inc. or LLC with 2+ years — the baseline for this product. |
| Bank statements | Usually the last three months. Funding partners read them for rhythm: deposits, balances through slow weeks, and existing daily-payment obligations. |
| The truck | Year, mileage, VIN and condition. An older or higher-mileage tractor narrows the list of partners; it does not end the deal. |
| The seller | Dealer paperwork is standard. A private seller adds title verification, a lien payoff where one exists, and a bill of sale. |
| Down payment | Set by the funding partner after the truck and your profile are reviewed. Anyone quoting a fixed percentage before that review is guessing. |
HOW IT WORKS
From the listing
to the keys.
Three steps, one application, and a funding specialist who knows what a Class 8 deal needs.
Share the truck and the seller
The tractor, the purchase price, whether it comes from a dealer or another owner, and your timing. The first step takes about a minute.
We compare matched structures
The request goes to 40+ lender partners, and we review the options that fit the equipment and your business profile. Soft credit pull only.
Complete documents and fund
Choose the structure, finish the funding partner documentation, and take delivery. Funding typically completes within 2–5 business days.
DOCUMENTS
What to have ready
before you apply.
Business
- Legal entity name and EIN
- MC / DOT number, if you run under authority
- The last three months of business bank statements
The truck
- Dealer invoice or a bill of sale
- VIN, year, mileage and photos
- An inspection or condition report, where the deal calls for one
Private seller only
- The title, front and back
- Lienholder and payoff information, if a loan is still on the truck
- A written agreement on price and what is included
Full walk-through: private party truck financing.
RATES AND TERMS
What is typically available
through the network.
| Item | Typical range | Set by |
|---|---|---|
| Rates | From 8% to 13%, based on qualifications | Funding partner |
| Terms | From 36 to 72 months | Funding partner |
| Amount | Up to $5M+, depending on the transaction | Funding partner |
| Decision | Typically within 24 hours of a complete application | — |
| Funding | Typically within 2–5 business days once documentation is in | — |
Consultations are free. TOBO is paid by the lender when a transaction funds; any costs a lender charges inside the transaction itself are disclosed to you in writing before you sign.
DEALER VS PRIVATE SELLER
Same financing,
different paperwork.
| Dealer | Private seller | |
|---|---|---|
| Paperwork | Generated by the dealership | Title check, lien payoff and bill of sale, arranged with the funding partner |
| Price | Includes lot overhead | What you agree with the owner |
| Truck history | Dealer disclosure | Ask for the VIN, maintenance records and an inspection |
| Timing | Usually quicker to close | A few extra days for the title and any payoff |
The full owner-to-owner closing, step by step: private party truck financing.
STRAIGHT ANSWERS
Semi truck financing questions,
answered before you move.
What do I need to qualify for semi truck financing?
An incorporated business — Inc. or LLC — with a minimum of 2 years in business. Not there yet? Freight factoring is usually the realistic first step while the business builds history, and it is worth a call either way.
Can I finance a used semi truck?
Yes. Used tractors are squarely within this product. Age, mileage and condition shape which funding partners respond and what terms come back — they do not decide whether the truck can be financed. See used truck financing.
What rates and terms should I expect?
Rates run from 8% to 13% based on qualifications, with terms from 36 to 72 months. The exact structure is set by the funding partner after the truck and your profile are reviewed — anyone quoting a final number before that is guessing.
How much is the down payment on a semi truck?
It depends on the tractor, its age and your business profile, and it is set by the funding partner after that review. It comes back with the rest of the structure when we compare the matched options.
Does it matter whether the truck is a sleeper or a day cab?
Not for eligibility — both run through the same application. It matters to the funding partner only as part of the value of the asset and the work it will do.
Can I buy the truck from another owner-operator?
Yes, and it is a normal deal here rather than an exception. The seller is verified, the title read, and any existing lien paid off at closing. See private party truck financing.
Will checking my options affect my credit?
No. Checking your options uses a soft credit pull only, with no impact on your credit score. A hard inquiry happens later, and only if you decide to move forward with a specific lender and authorize it.
How fast can a semi truck loan fund?
Decisions typically come back within 24 hours of a complete application, and funding typically completes within 2–5 business days once documentation is in. The variable is almost always how quickly paperwork comes together.
Tobo Capital Group LLC is not a lender. We arrange financing for businesses through third-party lender partners. All financing is subject to credit approval; rates, terms and availability are set by the funding partner and vary by transaction. Figures on this page describe what has typically been available through our lender network and are not an offer or commitment of financing.
CHECK YOUR OPTIONS
Ready to put capital
in motion?
A fast online application from your phone, tablet, or computer. Soft credit pull only — no impact on your credit score.