How Trucking Fleets Finance New Rigs

The trucking industry keeps America moving — but growing a fleet takes serious investment.

New semi-trucks and tractors can cost anywhere from $120,000 to $200,000 each, not including maintenance, insurance, or licensing. For fleet owners managing multiple rigs, that’s a major financial challenge.

Thankfully, there are several smart financing options designed specifically for trucking fleets to acquire new rigs without draining working capital.

Here’s how trucking fleets can finance new rigs in 2025 — and how to choose the best program for your business.

Why Fleet Financing Makes Sense

Buying trucks outright ties up cash that could be used for fuel, driver pay, or business expansion. Financing helps you:

✅ Spread payments over several years
✅ Preserve working capital for operations
✅ Upgrade to newer, fuel-efficient rigs
✅ Build business credit for future expansion
✅ Keep up with compliance and safety standards

Instead of limiting growth, financing lets your trucks generate revenue while you pay them off.

1. SBA 7(a) Loans – Best for Established Trucking Fleets

The SBA 7(a) Loan Program is one of the most flexible financing options for trucking businesses.

Loan Highlights:

• Borrow up to $5 million

• Terms up to 10 years for vehicles and equipment

• Interest rates typically 8%–11%

• Down payment around 10%–20%

Funds can be used for:

• Purchasing new or used rigs

• Expanding your fleet or terminals

• Refinancing existing debt

• Covering working capital or repairs

Best for: Established fleets with at least 2 years of profitability and strong revenue.

Example:
A fleet owner in Texas uses an SBA 7(a) loan to buy five new fuel-efficient tractors and refinance high-interest loans — saving $3,000 per month in payments.

2. SBA 504 Loans – For Large Fleet or Facility Expansions

If your trucking company is expanding operations, buying a facility, or adding multiple vehicles, an SBA 504 Loan may be a better fit.

How it works:

• 50% funded by a bank

• 40% by an SBA Certified Development Company (CDC)

• 10% down from the borrower

Benefits:
✅ Fixed low interest rates
✅ Terms up to 25 years
✅ Great for buying both property and vehicles

Example:
A regional carrier uses a 504 loan to purchase 10 new trucks and build a maintenance facility, paying only 10% down and financing the rest over 20 years.

3. Equipment Financing – Fast and Flexible Truck Loans

Equipment financing is one of the fastest, most accessible options for fleets buying new or used rigs.

How it works:

• The truck itself serves as collateral

• Fixed monthly payments

• Terms from 2–7 years

• Up to 100% financing available

Advantages:
✅ Fast approval (24–72 hours)
✅ Minimal paperwork
✅ No large upfront costs
✅ Works for both new and used trucks

Best for: Fleets needing to replace older rigs or quickly add capacity for new contracts.

4. Truck Leasing Programs – Preserve Cash and Stay Flexible

If you prefer to avoid ownership risk or regularly upgrade your trucks, leasing may be the smarter route.

Two main options:

• Operating lease: Rent trucks for a set term, then return or upgrade.

• Capital lease: Own the trucks after your final payment.

Benefits of leasing:
✅ Lower monthly payments
✅ Minimal or no down payment
✅ Maintenance often included
✅ Easier to upgrade to newer models

Best for: Fleets that replace vehicles every 3–5 years or value lower maintenance costs.

Example:
A logistics company leases 15 new tractors under a 4-year operating lease, including maintenance — allowing for predictable expenses and easy upgrades.

5. Fleet Financing Programs – Designed for Large Operators

Many lenders offer dedicated fleet financing programs tailored to businesses purchasing multiple rigs at once.

Top providers include:

• Volvo Financial Services

• PACCAR Financial (Kenworth, Peterbilt)

• Daimler Truck Financial (Freightliner, Western Star)

• Navistar Capital

• Crest Capital and Balboa Capital (independent lenders)

Advantages:
✅ Bulk purchasing discounts
✅ Custom terms for fleet size and age
✅ May include fuel, telematics, and insurance packages

Best for: Mid-sized to large fleets expanding or upgrading multiple vehicles at once.

6. Business Line of Credit – Keep Cash Flow Strong

A business line of credit gives fleet operators flexible, revolving funding for operational expenses.

Use it for:

• Repairs or tire replacements

• Insurance or registration costs

• Fuel and driver bonuses

• Covering seasonal fluctuations

Benefits:
✅ Access funds as needed
✅ Pay interest only on what you use
✅ Reuse credit after repayment

Best for: Established fleets managing fluctuating expenses.

7. Alternative and Online Truck Lenders – Fast Funding

If you need quick financing, online and alternative lenders offer fast approval and flexible qualifications.

Examples:

• National Funding – Equipment and working capital loans

• Crest Capital – Truck and trailer financing

• Truck Lenders USA – Fleet-specific financing options

• Smarter Finance USA – Works with new or growing fleets

Advantages:
✅ Funding in 1–3 business days
✅ Easier approval for newer businesses
✅ Flexible credit requirements

Tradeoff:
Interest rates are higher than traditional bank or SBA loans, but these are ideal for time-sensitive fleet purchases.

How Trucking Fleets Finance New Rigs

1. SBA 7(a) Loans – Long-term, low-rate fleet financing

2. SBA 504 Loans – For property and multi-rig purchases

3. Equipment Financing – Fast approvals using trucks as collateral

4. Leasing Programs – Low payments and upgrade flexibility

5. Fleet Financing Programs – Custom solutions for large operators

Example: Fleet Expansion Through Equipment Financing

Business: Highway Logistics Group – Kansas City, MO
Loan Type: Equipment Financing
Amount: $850,000

Highway Logistics needed to expand its fleet to meet new shipping contracts. Using an equipment financing loan, they purchased seven new Freightliner rigs with 7-year terms and fixed payments.

Results:

• Expanded fleet by 30%

• Increased annual revenue by $2.1 million

• Maintained positive cash flow during expansion

Owner’s Quote:

“Financing gave us the flexibility to grow without slowing down. The new rigs paid for themselves through added contracts.”

How to Qualify for Trucking Fleet Financing

To secure financing, most lenders will review:

✅ Credit score: 650+ preferred (some lenders accept lower)
✅ Time in business: 2+ years preferred
✅ Annual revenue: At least $100K–$250K
✅ Down payment: 0%–20%, depending on loan type
✅ Equipment details: Quote or invoice for each rig

Pro Tip: Keep your fleet utilization rates and maintenance records organized — lenders view this as a sign of reliability and lower risk.

Final Thoughts: Grow Your Fleet the Smart Way

Financing new rigs doesn’t have to strain your business. With options like SBA loans, equipment financing, leasing, and fleet-specific programs, trucking companies can expand efficiently, manage cash flow, and keep up with demand.

Whether you’re adding your first few trucks or scaling into a regional carrier, choosing the right financing plan ensures you can grow confidently — one rig at a time.

To explore government-backed fleet financing options, visit
👉 sba.gov/funding-programs/loans
or reach out to truck financing specialists who understand your business’s unique needs.