A truck or a van: how is it financed?
A work truck or van is presented as equipment financing, from the seller’s quote and your statements. The lender decides, on the vehicle’s price and your file.
Choose my amountThe answers
- Can a truck or a van for the business be financed?
- Yes, as equipment financing, based on the vehicle’s price, new or used. The vehicle itself usually serves as security.
- Can a used vehicle be financed?
- Yes, in general, from the seller’s quote or invoice. The lender weighs the vehicle’s condition, age and resale value.
- Is a down payment needed?
- Often, yes: the lender may ask for one, which it sets in its written offer. It depends on the vehicle and on your file.
- What is needed to present the file?
- The seller’s quote, your contact details and your business bank statements. We prepare the file and present it to the lenders you authorize.
- Does the vehicle have to be used for the business?
- Yes: we present commercial-financing files, so a work vehicle. A vehicle for personal use is not part of what we present.
What the lender looks at
- Actual deposits, month by month
- The lender compares the vehicle payment with what the business takes in.
- Trend over the period
- Revenue that climbs supports adding a vehicle.
- Payments to other lenders
- A vehicle already financed elsewhere counts as a commitment.
- How long the business has been operating
- The lender sets its time-in-business thresholds, whether the vehicle is new or used.
$0 upfront · 7% only if funded
An intermediary, not a lender.
The lender sets the final amount and its cost in its written offer.
Choose my amount