Dump Truck Financing: Best Loan Options of 2025
The right dump truck loan will vary based on the truck you want to purchase and your business's qualifications.
| Lender | NerdWallet rating | Best For | Max loan amount | Min. time in business | Min. interest rate | Term length | Learn more |
|---|---|---|---|---|---|---|---|
 with Fundera by NerdWallet | Read expert review | Best for low-interest | $750,000 | 24 months | Undisclosed | Up to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for new businesses | $150,000 | 6 months | Undisclosed | 24 months to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for bad credit | $250,000 | 24 months | 6.5% | 12 months to 5 years | with Fundera by NerdWallet |
 | Read expert review | Best for zero down financing | $10,000,000 | 24 months | 5.99% | 24 months to 7 years | |
 | Best for used dump truck financing | Undisclosed | Undisclosed | 10% | Undisclosed | ||
 | Read expert review | Best for fast financing | $500,000 | 12 months | Undisclosed | 24 months to 5 years | |
 | Best for customizable loans | $1,000,000 | 24 months | Undisclosed | Undisclosed |
best dump truck financing options: More details
Bank of America: Best for low-interest
Established businesses with good credit can access competitive interest rates on Bank of America’s dump truck loans.
Bank of America - Equipment loan
with Fundera by NerdWallet
Max loan amount
$750,000
Min. credit score
700
Term length
Up to 5 years
Pros
- Competitive interest rates.
- Longer repayment periods.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
- Fee discounts available for veteran-owned businesses.
Cons
- Charges an origination fee.
- Prepayment fees may apply to early repayments.
- Can be slow to fund.
- Application cannot be completed online.
Pros
- Competitive interest rates.
- Longer repayment periods.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
- Fee discounts available for veteran-owned businesses.
Cons
- Charges an origination fee.
- Prepayment fees may apply to early repayments.
- Can be slow to fund.
- Application cannot be completed online.
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National Funding: Best for new businesses
National Funding can offer dump truck financing to startups with a minimum of six months in business.
National Funding - Equipment financing
with Fundera by NerdWallet
Max loan amount
$150,000
Min. credit score
600
Term length
24 months to 5 years
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Requires higher annual revenue than other online lenders.
- Misleading website marketing: National Funding offers only short-term loans and equipment financing/leasing.
- Charges an origination fee.
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Requires higher annual revenue than other online lenders.
- Misleading website marketing: National Funding offers only short-term loans and equipment financing/leasing.
- Charges an origination fee.
with Fundera by NerdWallet
Triton Capital: Best for bad credit
You may be able to qualify for a dump truck loan from Triton Capital with a personal credit score of 580 or higher.
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan amount
$250,000
Min. credit score
580
Term length
12 months to 5 years
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
with Fundera by NerdWallet
JR Capital: Best for zero down financing
JR Capital can help you finance the purchase of a new or used dump truck with no down payment required.
JR Capital - Equipment financing
Max loan amount
$10,000,000
Min. credit score
620
Term length
24 months to 7 years
Pros
- Funding available within 48 hours.
- Competitive rates and repayment terms.
- Flexible payment options available, including deferment options for certain industries.
- No down payment required.
- Can be used to build business credit.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
Pros
- Funding available within 48 hours.
- Competitive rates and repayment terms.
- Flexible payment options available, including deferment options for certain industries.
- No down payment required.
- Can be used to build business credit.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
CAG Truck Capital: Best for used dump truck financing
CAG Truck Capital specializes in commercial truck loans and can finance a variety of dump truck options. This lender also offers a unique program dedicated to financing used, high-mileage vehicles.
CAG Truck Capital - Commercial truck financing
Max loan amount
Undisclosed
Min. credit score
Undisclosed
Term length
Undisclosed
Pros
- Specialty direct lender with over 40 years of experience in truck financing.
- Can fund startups and borrowers with bad credit.
- Offers a dedicated program for financing high mileage trucks, with engine overhaul included.
Cons
- Minimum down payment of 20% required; may be higher based on your qualifications.
- Limited information about interest rates, terms and qualifications disclosed online.
Pros
- Specialty direct lender with over 40 years of experience in truck financing.
- Can fund startups and borrowers with bad credit.
- Offers a dedicated program for financing high mileage trucks, with engine overhaul included.
Cons
- Minimum down payment of 20% required; may be higher based on your qualifications.
- Limited information about interest rates, terms and qualifications disclosed online.
Balboa Capital: Best for fast financing
Balboa Capital can approve dump truck loan applications in as little as one hour and issue funds within the same day.
Balboa Capital - Equipment financing
Max loan amount
$500,000
Min. credit score
620
Term length
24 months to 5 years
Pros
- Multiple financing options available.
- Fast funding and simple application process.
- Accepts borrowers with fair credit.
Cons
- Lack of pricing information on website.
Pros
- Multiple financing options available.
- Fast funding and simple application process.
- Accepts borrowers with fair credit.
Cons
- Lack of pricing information on website.
Commercial Fleet Financing: Best for customizable loans
CFF offers dump truck financing with customizable terms and repayment options. The company’s lending representatives provide expertise in the construction industry to help you find the best loan option for your individual needs.
Commercial Fleet Financing - Equipment financing
Max loan amount
$1,000,000
Min. credit score
640
Term length
Undisclosed
Pros
- Offers specialized experience in trucking and construction industries.
- Can fund applications as fast as 24 hours.
- Established businesses may not need to provide a personal guarantee.
Cons
- Borrowers with lower credit scores may need to provide a 20% down payment.
- Interest rates not disclosed on the website.
Pros
- Offers specialized experience in trucking and construction industries.
- Can fund applications as fast as 24 hours.
- Established businesses may not need to provide a personal guarantee.
Cons
- Borrowers with lower credit scores may need to provide a 20% down payment.
- Interest rates not disclosed on the website.
Jump to
Table of contents
What is a dump truck loan?
Dump truck loans help business owners, like owner-operators or builders, buy a new or used dump truck without breaking the bank. Because dump trucks can cost tens to hundreds of thousands of dollars, many business owners turn to loans to help pay for a commercial vehicle slowly, over time, instead of all at once. This helps preserve more of your capital to cover other business expenses while still using the new dump truck to generate cash.
Like other types of equipment financing
How does dump truck financing work?
Dump truck loans are typically structured as traditional term loans. Here’s how they work:
You receive a lump sum of money.The amount you can borrow depends on the lender. For example, lenders often have different maximum amounts they're willing to let you borrow, and many require a down payment.
You repay the loan, with interest.Repayment terms can range from 12 to 60 months, but may be longer, depending on the type of dump truck. Payments are usually made on a monthly basis, and interest rates can range anywhere from 5% to 36% APR.
You lose your truck if you fail to make payments.Like a personal auto loan, if you fail to repay your loan on a dump truck, your lender may repossess it.
🤓
To get the best dump truck financing terms, it’s helpful to have good credit, strong finances and multiple years in business. If your credentials aren’t quite where you want them to be, consider offering a larger down payment (or offering one when it’s not required) or additional collateral (e.g. equipment, real estate, inventory), to help you access better interest rates and terms. Learn more about Nerdy Tip
Where to get dump truck financing
You can get dump truck financing from several different types of lenders, such as traditional banks and credit unions, online lenders and specialized commercial truck lenders. Here’s an overview of each:
| Banks and credit unions | Online lenders | Specialized commercial truck lenders | |
|---|---|---|---|
| Interest rates and terms | Competitive interest rates and terms. | Higher interest rates compared to | Competitive interest rates with customized options. |
| Qualification requirements | Strict: often requires good credit and multiple years in business. | Flexible: can offer startup funding or | Flexible: can offer better repayment schedules and less restrictive qualification requirements. |
| Funding speed | Slower to fund compared to other types of lenders. | Quick: may fund in as little as 24 hours. | Varies: can be more flexible with payment schedules and funding speed. |
| Unique features | May offer | Streamlined application process with minimal documentation, ideal for businesses needing quick financing or unable to qualify for bank loans. | Industry-specific expertise, offering customized financing and personalized funding experience, ideal for those seeking tailored options for truck financing. |
How to finance a dump truck
You can finance a dump truck for your small business by following these five steps:
1. Determine your financing needs and potential down payment
Think about what type of dump truck you want to buy and how much it’s going to cost. Keep in mind that you may also have to pay soft costs, such as delivery, warranties or installation, when making your purchase.
You should also consider how much of a down payment you may be able to provide on your loan. Some lenders require a down payment of at least 10% of the loan amount. In general, a larger down payment can help you access better interest rates and loan terms.
Use our semi truck loan calculator
2. Evaluate your business’s qualifications
Although specific requirements vary, most lenders consider your:
- Credit score. Many dump truck lenders want to see a credit score in the mid 600s or higher. Some lenders are more flexible, but these options may come with higher interest rates.
- Annual revenue. Dump truck financing companies may not have a specific annual revenue requirement or may not disclose one upfront. Nevertheless, most lenders will look at your revenue and cash flow as part of their underwriting process. A strong financial history can help you qualify for the most competitive
trucking business loan options - Time in business. Because dump truck purchases can be expensive, lenders often prefer you to have at least a few years in business under your belt. If, however, you have good credit or can provide a large down payment, some lenders may work with younger companies.
3. Get a quote for the dump truck you want to buy
Most lenders will ask you to provide a quote as part of your financing application. You should browse vendors and suppliers to find the type of dump truck you want to buy and see which company can offer the best price.
4. Compare dump truck financing companies
You should research and compare multiple financing companies to find out which one can offer you the best deal (that you can qualify for). As you evaluate your options, consider factors such as available loan amounts, repayment terms, interest rates
5. Gather your documents and apply
In addition to a quote, most lenders will want you to provide bank statements, financial statements and tax returns as part of your loan application. Make sure to gather the most accurate, up-to-date information to help expedite the process.
Keep in mind that banks and credit unions
| More resources for trucking companies |
|---|
| Check out NerdWallet's other guides for small-business owners who run a trucking company: |
Frequently asked questions
What credit score do I need to buy a dump truck?
How hard is it to finance a dump truck?
How much should I put down on a dump truck?
How long can you finance a dump truck?
Last updated on September 17, 2024
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