Semi Truck Loan and Affordability Calculator

Just bought a new commercial truck or considering buying one? Use our semi truck loan calculator to estimate your monthly payments, or see the cost of the truck you can afford.

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May 12, 2026

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How to use our semi truck loan calculator

Buying a new or used commercial truck is a big deal, and figuring out how to pay for it can be stressful. If paying in full isn’t an option, our truck loan calculator is here to help you make sense of opting for a small-business loan.

Use this tool to:

Estimate payments on a semi truck loan.
Estimate how much truck you can afford to finance.

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

To figure out how much a commercial truck loan might cost, plug in the following details:

Truck price. Enter the price you expect to pay for your new or used commercial truck. If you’re not sure, use the seller’s asking price as a starting point. You can also factor in rebates, warranties or other costs that might change the final sale price.
Sales tax. If your state charges a sales tax, enter the rate here. Our calculator will apply it to the truck’s price. If you’re planning on paying taxes out-of-pocket, leave this part blank.
Trade-in value of existing truck. If you’re trading in a current truck, enter the amount the buyer is offering for it — or what you think you can get for it. If you still owe money on it, subtract the remaining loan balance from the trade-in value and enter the difference. Leave this blank if you’re not trading anything in.
Down payment. Many lenders require a down payment of between 10% to 20% of the truck’s purchase price. Depending on the lender and whether you’re trading anything in, you may be able to put less down (or none at all). Just keep in mind that the more you put down, the less your monthly payments will be.
Annual percentage rate (APR). This represents the total cost of borrowing the lender’s money to pay for your truck. It includes the interest rate plus any loan fees your lender might charge. While lender websites may list a starting interest rate, you’ll likely have to prequalify online or submit a formal application to get a more accurate rate. Equipment financing APRs commonly range from 4% to 45%, depending on your qualifications, the lender and the equipment you're purchasing. Keep in mind: if your loan has a variable interest rate, your payments may change over time.
Loan term (months). Here’s where you’ll punch in the number of months your loan will last. Loan terms often range from 12 to 60 months for commercial truck loans.
Extra monthly payment (optional). If you think you can afford to contribute more toward your loan each month, enter that amount here. Paying extra each month can help you lower overall interest costs and help you pay off your truck faster.

Calculate your loan results

Once you hit “calculate,” you’ll see the following results:

Monthly payments. This is the amount you’ll owe every month. It includes principal, interest and any fees associated with the loan.
Amount financed. This is the amount you’re borrowing from your lender. It includes the truck’s purchase price and any sales tax, minus your down payment and the trade-in value of any trucks you’re replacing.
Total payments. This is the total amount you’ll pay your lender over the loan’s lifespan.
Total interest. This is the total amount you’ll pay in interest and fees for the loan. You can save on interest by paying your loan off early (just watch out for prepayment penalties).
Amortization schedule. This shows the breakdown of how each monthly payment is split between principal and interest, and how your balance changes over time.

Commercial trucks can be pricey, even used ones. But just because you can get a business loan for one doesn’t mean the monthly payments will fit your budget.

To figure out how much truck you can realistically afford to finance, enter the following details:

Desired monthly payments. Enter the amount you’d feel comfortable paying toward a truck loan each month. If you want to be more specific, include other monthly costs like insurance, gas and maintenance.

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Nerdy Tip

Be careful you don’t take on too much debt. Use our debt service coverage ratio calculator to help decide if your business can handle this monthly truck loan payment.

Sales tax. If your state charges a sales tax, enter the rate here. If you’re planning on paying taxes out-of-pocket, leave this part blank.
Trade-in value of existing truck. If you’re trading in your current truck, enter the amount the buyer is offering for it — or what you think you can get for it. If you still owe money on it, subtract the remaining loan balance from the trade-in value and enter the difference. Leave this blank if you’re not planning to trade anything in.
Down payment. Many lenders require a down payment of around 10% to 20% of the truck’s purchase price. But since you’re trying to figure out how much you can afford, you can leave this blank or enter a dollar amount you’d be able to reasonably afford as a down payment.
Annual percentage rate (APR). This represents the total cost of borrowing the lender’s money to pay for your truck. It includes the interest rate plus any loan fees your lender might charge. While lender websites may list a starting interest rate, you’ll likely have to prequalify online or submit a formal application to get a more accurate rate. Equipment financing APRs commonly range from 4% to 45%, depending on your qualifications, the lender and the equipment you're purchasing.
Loan term (months). Here’s where you’ll punch in the number of months your loan will last. Loan terms often range from 12 to 60 months for commercial truck loans. If you’re not sure, you can use a shorter length for a more conservative estimate.

Calculate your truck affordability results

Once you hit “calculate,” you’ll get an estimated truck price you may be able to afford to buy. Use this number as a guide when shopping for your next commercial vehicle.

You’ll also see a breakdown of your estimated financing costs if you were to get a loan using the full estimated truck price:

Amount financed. This is the total amount you’d borrow from your lender if you bought a commercial truck using the full estimated price above. It includes the truck’s purchase price and any sales tax, minus your down payment and the trade-in value of any trucks you’re replacing.
Total payments. This is the total amount you’d pay your lender over the loan’s lifespan.
Total interest paid. This is the total amount you’d pay in interest and fees for the loan. You can save on interest by paying your loan off early (just watch out for prepayment penalties).
Amortization schedule. This shows the breakdown of how each monthly payment is split between principal and interest, and how your balance changes over time.

Where to get a semi truck loan

You can use NerdWallet’s list of best semi truck financing options to kickstart your search, or here are a few places you can find semi truck loans:

Specialized commercial truck lenders. These lenders focus specifically on the trucking industry and often have a deep understanding of borrowers’ unique needs and challenges. They also may provide quicker and more flexible financing compared with traditional lenders.
Online lenders. Similar to specialized lenders, many online lenders offer equipment financing that is fast and easier to qualify for compared with traditional banks. Just watch out for high interest rates.
SBA lenders. SBA commercial vehicle loans provide competitive interest rates and often come with long repayment terms and high loan amounts. But they can be harder to qualify for than online loans.
Traditional banks. While banks typically offer the lowest interest rates and longest repayment terms on loans, their approval process is generally slower and more strict compared with non-bank lenders.

» MORE: Best trucking and transportation business loans

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