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Dump Truck Financing: 5 Lending Options for Your Business

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When you regularly need to move piles of materials or supplies, you might consider purchasing a dump truck for your business.

But dump trucks can be expensive. The price could exceed the funds in your bank account, as even used trucks can cost more than $100,000. If you need assistance purchasing a dump truck for your business, we’ll point you toward a few financing options to help you get started.

What is dump truck financing?

Businesses in industries such as construction and manufacturing often require large vehicles or vocational trucks to transport materials. The cost of these vocational trucks, including dump trucks, can be financed in a few ways. Commercial truck loans and leases as well as equipment financing are common financing options for dump truck owners.

  • Commercial truck loans are available from alternative business lenders, as well as traditional banks. The dump truck would act as collateral on the loan and the lender could seize the truck if you fail to meet the requirements of your loan agreement.
  • Leases are also available from many lenders. You would make payments to use the dump truck for a set amount of time, then you could purchase the truck for residual value at the end of the lease or return it. A lease could offer lower monthly payments than a loan, though higher interest rates could make it as expensive as a loan in the end.
  • Equipment financing can cover the cost of a dump truck as well. Equipment lenders, including alternative business lenders and traditional banks, often finance commercial trucks as they would other hard business assets. The truck would act as collateral on the loan, though you may be required to make a down payment.

Dump truck manufacturers like Mack and Peterbilt offer financing solutions if you choose to buy a dump truck straight from the producer. Rather than applying for funding from a bank or business lender, you could go through the manufacturer’s financing program to obtain a lease or loan when purchasing your dump truck.

Where to find dump truck financing

To help you secure funding for your dump truck, we’ve compiled a list of financial institutions that provide options specifically for dump trucks.

Some lenders may offer 100% financing for your dump truck, but it’s more likely that you would have to make a down payment —  possibly 10% to 25% of the cost — before receiving a loan that covers the remaining amount. The condition of your truck could affect your down payment, as a newer truck would require a lower payment. Loan terms generally match the useful life of the dump truck, and you would repay your debt during the time you expect to use the truck.

Here’s what five different dump truck lenders offer:

Balboa Capital

Balboa Capital is an online lender that offers dump truck leasing up to $250,000. If approved, you could receive same-day funding. Balboa Capital doesn’t require additional collateral and credit score is not a determining eligibility factor. Lease terms range from 24 to 72 months. You can set up predictable monthly payments that coincide with your budget. When your lease term ends, you would have the option to purchase the dump truck for its fair market value or return it. Or, you could lease it for another term.

Crest Capital

Online equipment finance company Crest Capital provides leases and loans for new or used dump trucks. You may be able to get same-day approval for financing. Crest Capital offers financing programs for various types of dump trucks, such as articulated dump trucks for rugged terrain and super dump trucks for large hauls. Crest Capital typically finances equipment transactions from $5,000 to $500,000 or more.

CAG Truck Capital

CAG Truck Capital is another online lender specializing in dump truck financing. CAG finances new or used dump trucks and considers applicants with both good credit and bad credit, including bankruptcies. After making all loan payments to CAG, you would receive the title to your dump truck. CAG also gives borrowers the opportunity to pay off their debt early.


Online equipment finance company CIT has commercial truck leasing and financing options that you could use to cover the cost of a dump truck. Your financing agreement would be based on your time in business, monthly budget and overall business needs. If you choose to lease a truck, CIT would offer a buyout option at the end of the term. The repayment schedule for both leases and loans could be flexible, so you could fit it to your monthly budget.

Wells Fargo

A traditional bank, Wells Fargo has a commercial financing program that provides leases and loans for commercial vehicles. Wells Fargo can finance the full cost of new or used vehicles with loan and lease terms spanning 36 to 84 months. Interest rates could be fixed or variable, depending on your financing agreement. Leases could come with the option to purchase your dump truck at the end of the term.

How to qualify for dump truck financing

Securing a loan or a lease would require documentation of both your business and personal financial records to demonstrate your risk as a borrower. You could expect a lender to ask for:

  • Business licenses
  • Entity documents, such as partnership agreements, LLC documents or articles of incorporation
  • Employer Identification Number
  • Tax returns
  • Bank statements
  • Cash flow statements

A lender would also likely want to know the costs associated with your dump truck and how much of a down payment you could make. You may want to write a loan proposal detailing your needs and how you would repay your debt.

Your personal credit score and credit history would likely be a factor as well. If you have a low personal score or limited business credit history, you could be required to sign a personal guarantee, which would put you on the hook to repay the debt if the business is unable. Although you may be able to qualify with bad credit, a low score could result in a higher interest rate.

The bottom line

When you need to transport large materials to or from your business, a standard pickup truck may not cut it. You could find a used or new dump truck either from big-name manufacturers or individual sellers that post in online marketplaces.

If the expense is out of your budget, you could turn to dump truck financing to cover the cost. Online lenders and banks could approve you for a lease or loan to finance a dump truck for your business.

Before choosing a lender, be sure to shop around to find a financing solution that you can afford. Look for interest rates and repayment terms that work with your business’s cash flow. Once you receive an offer you’re comfortable with, you could finance your dump truck purchase and start hauling supplies for your business.

The rates and fees mentioned in this article are accurate as of the date of publishing.


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