Business truck loan

You may be able to borrow $1,000,000+, depending on your business's financial health, borrowing power, and the lender's criteria.

Yes, a truck loan lets you finance both new and used vehicles. It's important to weigh in the pros and cons of each option—for example, new trucks are more expensive but less likely to have mechanical issues; while used ones are cheaper, but could lack the latest safety or tech features.

You may be able to get a loan with little (10-20%) or no deposit. The vehicle itself often acts as collateral to offset the lender's risk.

You can generally pay off a business truck loan early, but you may have to pay early repayment fees. Make sure to check your loan agreement to know exactly what applies.

Yes, you can both trade in your business truck or refinance your loan later. There may be additional costs involved, like an early termination or break fee, so take a look at your loan agreement.

A business truck loan can be used for one or multiple vehicles, but different loan types or structures may apply depending on how many trucks you want to finance.

A balloon payment is a lump sum due at the end of your loan term. It lowers your monthly repayments, although it will increase the amount of interest you pay over the course of your loan.

You could get approved in as little as 24 hours, depending on your application and the lender's assessment process.

Vehicle loan terms typically range from 3 months to 7 years. The best term depends on your cash flow, how long you plan to use the truck, and whether you prefer lower monthly repayments or a shorter overall loan duration.