Need Semi-Truck Financing? TopMark Funding Can Help!

Looking to Buy a Semi-Truck and Need Semi-Truck Financing? TopMark Funding® Can Help! #1 Rated Semi-Truck Financing Company. Don’t Wait! Get Pre-Approved For a Semi Truck Lease or Loan Today.  We Help Business Owners Like You Grow Your Trucking Company and Increase Your Revenue!

Get Approved For Up To $250K Within 24 Hours – Application Only!

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Need Semi-Truck Financing? TopMark Funding Can Help!

Looking to Buy a Semi-Truck and Need Semi-Truck Financing? TopMark Funding® Can Help! #1 Rated Semi-Truck Financing Company. Don’t Wait! Get Pre-Approved For a Semi Truck Lease or Loan Today.  We Help Business Owners Like You Grow Your Trucking Company and Increase Your Revenue!

Get Approved For Up To $250K Within 24 Hours – Application Only!

Guaranteed No Hard Inquiries

Semi-Truck Financing

Looking to Buy a Semi-Truck and Need Semi-Truck Financing? TopMark Funding® Can Help! #1 Rated Semi-Truck Financing Company. Don’t Wait! Get Pre-Approved For a Semi Truck Lease or Loan Today.  We Help Business Owners Like You Grow Your Trucking Company and Increase Your Revenue!

Get Approved For Up To $250K Within 24 Hours

Application Only!

Guaranteed No Hard Inquiries

Expand Your Fleet With The Semi-Truck Financing Experts

Looking to buy a semi-truck and need semi-truck financing? This step-by-step truck financing guide will walk you through the semi truck financing process. Whether you’re a semi-truck driver, owner-operator, small fleet owner or own a large fleet, we have a semi-truck financing solution for you regardless of your credit history. We have the best semi-truck leasing programs that will fit your budget and help add more profit to your bottom line.

Deciding whether to get a semi-truck lease or Semi-Truck Loan, choosing between new or used Freightliner, Peterbilt, or Kenworth. Partnering with a semi-truck financing company like TopMark Funding that understands the commercial trucking industry and all that comes with truck and trailer financing (titling, registration, insurance, warranties, etc.) is crucial to your success in the trucking industry. 

Get approved for up to $250k within 24 hours. Guaranteed no hard inquiries or damage to your business or personal credit.

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Semi-Truck Financing Frequently Asked Questions

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Step-by-Step Guide for Financing a Semi-Truck

Semi-truck financing is different from traditional vehicle financing and leasing. Traditional truck loans typically require your credit, business revenue, and time in business to determine if you’re qualified.

When it comes to semi-truck leases and loans, the truck you decide to purchase becomes the collateral, which helps to limit the lender’s risk on the truck lease or loan. By reducing the risk you’re more likely to be qualified for truck financing.

Several factors will determine your semi-truck financing terms, interest rate, and down payment. Here’s a list of all the semi-truck financing requirements and factors that determine your eligibility and financial requirements.

When it comes to semi-truck financing we recommend that you get pre-approved first before you go semi-truck shopping. Being pre-qualified first allows you to have a better sense of how much you can spend on your new big rig. But, you don’t have too. You can apply for funding after you find your new or used 18 wheeler. At TopMark Funding we have a quick and easy pre-approval process. One of our finance specialists will ask you a few questions about your credit and business history. We will then do a soft pull on your credit, not a hard inquiry. 

The majority of our competitors do a hard credit inquiry. That’s not good for your credit score. Our pre-approval process only does a soft credit check and is guaranteed not to harm your business or personal credit score. Once we get your credit results back we’ll get you pre-approved and let you know how much you can spend on your truck.

Semi-Truck Financing Requirements

  • Credit Score – 600 or Above for the Best Semi-Truck Financing Rates.
  • Time in Business with a CDL License – 3+ Years Preferred (But We Can Finance Start-ups Too!)
  • Down Payment Amount – How Much Can You Afford to Put Down on Your Semi-Truck.
  • Age of the Semi-Truck – Less than 10 years old
  • Semi-Truck Mileage – Less than 700k miles

Making smart choices with semi-truck financing is critical to any trucking company. Having up-to-date equipment to maximize efficiency and stay in compliance with the ever-changing regulations is important to a company’s growth and sustainability. 

We’ve made the semi-truck financing quick and easy so you can get funded fast and on the road with your new truck!

Semi-Truck Financing - $250k

1. SEMI TRUCK FINANCING AND CREDIT

When it comes to buying a big rig, credit can play a big role. When looking for semi-truck financing, you need to keep your credit health in mind. A lot of truckers actually harm their credit by applying haphazardly to any and every company that promises they can get them the truck of their dreams.

What actually happens is a LOT of hard inquiries on your report. Remember, each hard inquiry can ding you about 10 points. If you even apply to 4 places, that’s enough to drop your score a whole credit grade.

Dealers are another avenue you want to be wary of in regards to credit. When you “apply” or see if you can get financed for a truck you like at dealership, what that dealers often do is send your information around to any bank or company they think you can get approved at. Again, this leads to many unnecessary and credit damaging hard inquiries.

Don’t worry, there are companies out there that can get approved for truck financing without harming your credit. We here TopMark Funding can help you by getting you pre-approved with just a soft inquiry. This way, you can see your rates without any damage done to your credit or commitment from you.

For these reasons, it’s important for you to be familiar with both your credit score and what financing companies can offer you at your current credit rating before you ding your score. Do your research and make sure you are making good choices for your business. 

Click the link if you want to read our in-depth Semi-Truck Financing guide. Being knowledgeable about the process and what it means in terms of credit will help you make the best choices.

BREAKDOWN OF FICO SCORE RANGES

Statistically speaking, most people’s credit scores fall between the range of 600 to 720.

  • 300-579: A score in this range is considered Very Poor. Credit applicants with a score in this range will often be required to pay larger fees and deposits, or sometimes may not be approved for credit at all. 16% of people have a score in this range.
  • 580-669: Scores between the 580 mark to the higher 600s are called Fair credit scores. Often, people with scores in this range will be referred to as subprime borrowers. A total of 17% of people have a credit score in this range.
  • 670-739: This range is referred to as Good. Individuals with scores this high have a much lower rate of default. Statistically, about 8% of applicants with a Good range credit score will become seriously delinquent. Around 21% of people have a score in this range.
  • 740-799: People with scores in mid to top 700s are in the range of Very Good. Borrowers with scores in this range will receive better than average interest rates from banks and lenders. 25% of people have a score in this range.
  • 800-850: The top of the scale is considered an Exceptional credit score. Individuals with a credit score above 800 receive the best rates from lenders. Around 21% of people have scores between 800-850.

WHAT AFFECTS YOUR CREDIT SCORE

  • Payment history – This shows if you’ve made your payments on time or at all.
  • Credit utilization rate – How much of your credit you are using on your credit cards.
  • Type, amount, and age of credit accounts – Lenders want to see diversity on your credit report. Having a good mix of credit cards, a car loan, and maybe a mortgage helps your score.
  • Total Debt Owed – This is the amount you owe in loans and how much is on your cards.
  • Bankruptcies, Child Support Due, Public Records – Filing for bankruptcy or having a large amount of delinquent child support will hurt your score.
  • New Credit Accounts – Opening a lot of accounts in a short period of time can hurt your score. If you have gotten too many loans or credit cards in a 2-year period, it can ding you.
  • Hard Inquiries – The number of times a lender has requested your credit information will affect your score. These searches stay on your report for two years.

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IF YOUR CREDIT LOOKS GOOD & YOU WANT TO GET PRE-APPROVED  >>CLICK HERE<<

2. Shop For a New Or Used Semi-Truck

Here’s the fun part of the semi-truck financing: shopping for your new big rig! When shopping for your new 18-wheeler you need to keep in mind some requirements the lenders have. 

We always recommend buying your new or used semi-truck from a reputable semi-truck dealer.  If you’re not sure which semi-truck dealer in your area is reputable, give us a call and we’ll have some suggestions at (866) 627-6644. We have a list of great dealers throughout the US.

  • Make, Model, Year (Less than 10+ years)
  • Mileage (Less than 700k)
  • The truck needs to be for your intended use.
  • Condition Report
  • Any past major repairs.
  • Preferably sold by a semi-truck dealer. (We can finance private party)
  • Serial Number of the truck.
  • Is the semi-truck new or used
  • Minimum of 3 pictures

Lenders want to make sure the semi-truck you’re trying to buy is a good investment for you and will last the duration of the financing term. Also, the truck is the collateral for the financing. 

If something were to happen and you can no longer afford to pay the loan or lease, the lender will need to repossess the semi-truck and recover their capital.

Online Semi-Truck Listing Sites

We can finance any semi-trucks, trailers, or commercial vehicles you want to purchase on these sites. We can get you pre-approved before you decide to purchase your next semi-truck. The advantage to being pre-approved first, is you know how much you can spend. Knowing your approval amount can help narrow down your next big rig.

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What Are The Best Semi-Truck Brands?

We get asked this question all the time, what is the best semi-truck? Or what’s the most popular semi-truck? To help answer those questions we’ve put together a guide of the best semi trucks brands in the United States.

Here’s our list of the top 5 best semi-trucks. Listed 5 through 1. Scroll down to see which truck brand is #1.

5. Volvo

Volvo Trucks is one of the leading heavy truck and engine manufacturers in the world. Today, Volvo Trucks manufactures a broad line of on-highway and vocational Class 8 vehicles. Each new or used purchase is supported by a strong dealer network and by industry-leading parts and service programs to smooth your ride on the road to success. 

Volvo trucks make up about 10 percent market share in America. Volvo a Swedish commercial vehicle manufacturer also owns the well-known trucking brand Mack Trucks. In the USA Volvo ranks fifth, but world-wide ranks second for heavy-duty truck manufacturers. 

4. International

Navistar International Corporation (formerly International Harvester Company) is an American holding company that owns the manufacturer of International brand commercial trucks, IC Bus school and commercial buses, Workhorse brand chassis for motorhomes and step vans, and is a private-label designer and manufacturer of diesel engines for the pickup truck, van, and SUV markets. The company is also a provider of truck and diesel engine parts and service.

Navistar holds an 11 percent market share in the commercial trucking industry in the United States. Located in Lisle, Illinois, Navistar has 16,500 employees and a 2013 annual revenue of $10.7 billion dollars. 

Their products, parts, and services are sold through a network of nearly 1,000 dealer outlets in the United States, Canada, Brazil, and Mexico. More than 60 dealers in 90 countries throughout the world.

3. Peterbilt

Peterbilt Motors Company, founded in 1939, is an American manufacturer of medium- and heavy-duty trucks. A subsidiary of Paccar, which also owns fellow heavy-duty truck manufacturer Kenworth. 

For 80 years, Peterbilt has supplied the North American commercial vehicle market with the industry’s most rugged, reliable and efficient products. Based in Denton, Texas, Peterbilt manufactures on the highway, vocational and medium-duty trucks that provide value to their owners and pride to their drivers.

Peterbilt is an iconic trucking brand. Their red oval design script style lettering logo can be found on trucker clothing, truck hats, and more. Peterbilt makes up about 13 percent market share. Peterbilt is an iconic and beloved trucker brand.

2. Kenworth

Kenworth is an American manufacturer of medium and heavy-duty Class 8 trucks with offices based in Kirkland, Washington, a suburb of Seattle. Kenworth is one of three major truck divisions and brands under parent company PACCAR.

Founded in 1912 by the brothers George T. and Louis Gerlinger JR as a car and truck dealership known as Gerlinger Motor Car Works. In 1914, they decided to build their own truck with a more powerful inline six-cylinder engine, the first put into a commercial truck.

Kenworth has majorly grown since 1912 with an annual revenue of 19.1 billion dollars. With an estimated 154,000+ trucks sold in 2015 and pushed out Peterbilt sightly. They have about a 14% market share.

1. Freightliner

Freightliner Trucks is an American truck manufacturer and a division of Daimler Trucks North America. The division is known mainly for the heavy-duty class 8 diesel trucks it offers, as well as class 5–7 trucks.

Freightliner is the best selling semi-truck in America today. They sell about 190K trucks per year! Freightliner dominates with 40% of the commercial truck market share. They also employ over 3,000+ workers in their MT. Holly and Cleveland facility. 

Freightliner manufactures several models and styles of commercial trucks from on-highway, medium-duty, severe duty and natural gas vehicles. They are soon to roll out their new line of all-electric commercial vehicles named the Freightliner e-Mobility. There will be two models, the eCascadia and eM2 106.

Bottom Line

Freightliner takes the cake for the most popular semi-truck in America for 2019. Whether you drive a Freightliner, Peterbilt, or Kenworth, every trucker driver has their favorite big rig. Click the link to learn more about all the semi-truck brands in America.

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3. FIND GOOD SEMI-TRUCK INSURANCE

Before you get approved and obtain your semi-truck financing, you’ll need to have commercial truck insurance. Commercial vehicle lenders will make sure you have good semi-truck insurance. Just like your personal vehicle, you’ll need good insurance for your big rig. 

Just like anything else in life, you get what you pay for. Your semi-truck and business are valuable assets and you don’t want to be under-insured and liable for the potentially massive repair and legal bills.

Truck lenders require you to have the following coverage:

  • Liability coverage
  • Physical damage coverage
  • Bobtail coverage for non-trucking use
  • Cargo and storage coverage that covers what you’re hauling

If you own a fleet of semi-trucks and have employees driving for you, you’re going to need worker’s compensation. Contact your local business insurance agent for more details.

Lenders will not allow you to finalize the deal without the correct type of insurance for a semi-truck. If you have any questions please feel free to contact your finance specialist. (866) 627-6644

Learn more about Commercial Truck Insurance

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4. SUBMIT ALL DOCUMENTS AND GET FUNDED

Once you’ve picked out your semi-truck that meets all the requirements and you have the proper insurance in place, it’s time to finalize your funding. Contact your finance specialist to finalize your application. 

Documents will be generated and then emailed for review and signature. An electronic signature is acceptable on most documents.

After the signed contract is returned, we’ll process your documents. Most transactions fund within 1 to 3 days. We have a fast turn around to get you the truck you want on the road and generating revenue!

Click for more Semi-Truck Financing FAQ

Get Approved For Up To $250K Within 24 Hours – Application Only!

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Top 10 Semi-Truck Financing Frequently Asked Questions

What are the semi-truck financing requirements? We get asked this question every day. (Makes sense, we’re a semi-truck financing company). We’ve put together this article about semi-truck financing to answer the top 10 semi-truck financing frequently asked questions and you’ve been probably wondering about.

  1. What Are The Semi-truck Financing Requirements?
  2. What Credit Score Do You Need To Buy a Semi-truck?
  3. No Credit Check Semi-truck Financing?
  4. How Can I Finance a Semi-truck With Bad Credit?
  5. Do I Need A CDL To Purchase A Semi-truck?
  6. How Much is a New Semi-truck?
  7. How Much is a Used Semi-truck?
  8. What Type of Insurance Do I Need For a Semi-truck?
  9. What is Section 179?
  10. In-house Semi-truck Financing – Good Or Bad?

What Are Semi-truck Financing Requirements?

When it comes to semi truck financing, the semi-truck you decide to purchase becomes the collateral, which helps to limit the lender’s risk on the truck lease or loan. By reducing the risk you’re more likely to be qualified for truck financing.

Several factors will determine your semi-truck financing terms, interest rate, and down payment. Here’s a list of all the truck financing requirements and factors that determine your eligibility and semi-truck requirements.

Factors That Determine Eligibility

  • Credit Score – 600 or Above for the Best Semi-Truck Financing Rates.
  • Time in Business with a CDL License – 3+ Years Preferred (But We Can Finance Start-ups Too!)
  • Down Payment Amount – How Much Can You Afford to Put Down on Your Truck.

Semi-truck Requirements

When shopping for your new 18-wheeler you need to keep in mind some requirements the lenders have. 

  • Make, Model, Year (Less than 10+ years)
  • Mileage (Less than 700k)
  • The truck needs to be for your intended use.
  • Condition Report
  • Any past major repairs.
  • Preferably sold by a semi-truck dealer. (We can finance private party)
  • Serial Number of the truck.
  • Is the semi-truck new or used
  • Minimum of 3 pictures

Lenders want to make sure the semi-truck you’re trying to buy is a good investment for you and will last the duration of the financing term. Also, the truck is the collateral for the financing. 

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What Credit Score Do You Need To Buy A Semi-truck?

When it comes to buying a big rig, credit can play a big role. When looking for a semi-truck financing, you need to keep your credit health in mind. A lot of truckers actually harm their credit by applying haphazardly to any and every company that promises they can get them the truck of their dreams.

Click the link if you want to read our in-depth Semi-Truck Financing guide. Being knowledgeable about the process and what it means in terms of credit will help you make the best choices.

Breakdown of FICO Score Ranges

Statistically speaking, most people’s credit scores fall between the range of 600 to 720. We did some analysis of the funded deals we did in 2019, the majority of clients that got approved for semi-truck financing had an average FICO of 667 or higher. 

It goes without saying, the better the score the better the terms. But, it is possible to get approved with a lower credit score. You have to consider that your monthly truck payment is a business expense. And without having trucks on the road you can’t get paid. 

  • 300-579: A score in this range is considered Very Poor. Credit applicants with a score in this range will often be required to pay larger fees and deposits, or sometimes may not be approved for credit at all. 16% of people have a score in this range.
  • 580-669: Scores between the 580 mark to the higher 600s are called Fair credit scores. Often, people with scores in this range will be referred to as subprime borrowers. A total of 17% of people have a credit score in this range.
  • 670-739: This range is referred to as Good. Individuals with scores this high have a much lower rate of default. Statistically, about 8% of applicants with a Good range credit score will become seriously delinquent. Around 21% of people have a score in this range.
  • 740-799: People with scores in mid to top 700s are in the range of Very Good. Borrowers with scores in this range will receive better than average interest rates from banks and lenders. 25% of people have a score in this range.
  • 800-850: The top of the scale is considered an Exceptional credit score. Individuals with a credit score above 800 receive the best rates from lenders. Around 21% of people have scores between 800-850.

No Credit Check Semi-truck Financing?

The phrase “no credit check semi-truck financing” sounds like a dream come true for some people looking for a new truck. What it means is an individual was able to get financing for their truck purchase without having the lender looking into their borrowing history. The big question here is… Does no credit check semi-truck financing even exist?

Frankly, finding any reputable lending sources that have no credit check semi-truck financing programs are pretty difficult to come by. If a lender does offer a program like that, you should proceed with a bit of caution as this is outside the norms of the lending world.

The reason most banks and credit grantors want to see your credit is that they want to know if you’ll pay them back as promised. Your credit score and credit report are the fast and dirty way for lenders to see what types of risks you present them and their funds. Companies that forgo any type of credit check will possibly be looking to charge you with high-interest rates and large down payments to secure the money. 

Lucky for you, we have written an in-depth guide to aid you in your search for this type of program. If you want to brush up on your credit knowledge before checking out the ins and outs of semi truck financing with no credit checks, head on over to read The Trucker’s Guide to Understanding Credit.

How Can I Finance a Semi-truck With Bad Credit?

What is bad credit? We get asked this question all the time. To some bad credit might be a 550 credit score and to others, “bad credit” might be a 650 credit score. Some lenders may be fine with a 550 credit score if you have enough time in business, tradelines, ample down payment.

Just like any other financing program, you apply for, getting approved for semi-truck financing is dependant on your credit score, and a few other factors that will determine your eligibility. 

Before you apply for semi-truck financing, you can fill out our quote form (no hard inquiries) or give us a call (866) 627-6644 and one of our semi-truck financing specialists can go over the process and see if you’re pre-qualified.

What Affects Your Credit Score?

  • Payment history – This shows if you’ve made your payments on time or at all.
  • Credit utilization rate – How much of your credit you are using on your credit cards.
  • Type, amount, and age of credit accounts – Lenders do want to see diversity on your credit report. Having a good mix of credit cards, a car loan, maybe a mortgage on their helps your score.
  • Total Debt Owed – This is the amount you owe in loans and how much is on your cards.
  • Bankruptcies, Child Support Due, Public Records – Filing for bankruptcy or having a large amount of delinquent child support will hurt your score.
  • New Credit Accounts – Opening a lot of accounts in a short period of time can hurt your score. If you have gotten too many loans or credit cards in a 2-year period, it can ding you.
  • Hard Inquiries – The number of times a lender has requested your credit information will affect your score. These searches stay on your report for 2 years.

Learn More About Credit And How It Affects Semi-truck Financing. – The Truckers Guide To Understanding Credit

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Do I Need A CDL To Purchase A Semi-truck?

The short answer is no, you can buy a semi-truck without a CDL. The person paying for the semi-truck and the person driving the vehicle can be two different people. Let us assume you want to start a business with your brother, a trucking partnership. You will operate all of the behind the scenes work such as accounting, and your brother will be the one behind the wheel. You can be the one to purchase and own the Semi-Truck, while your brother, who has a CDL, can do the driving.

Essentially, it doesn’t matter who does the financing so long as the person with the CDL does the driving for the business. If you want to get into the business for yourself and do not have a CDL, however, there is no company that will rationally finance someone with no means of extracting value from the investment.

How Much is a New Semi-truck?

That depends (prepare to hear that answer a lot in this article!). There are various brands of semi-trucks that all run basically the same price in an attempt to stay competitive, but different big rigs have different features that impact the final price. These include features such as:

  • Engine specifications (horsepower, torque, fuel efficiency, etc.)
  • Fuel capacity in gallons
  • Day cab or sleeper, and, if sleeper, the size of the sleeper section of the truck.

In any case, the cost of a new Semi-Truck can run anywhere from $100,000 to $200,000. When you buy a new vehicle, semi-truck or otherwise, it automatically depreciates in value by about 9%. Which can be used as a tax deduction!

How Much is a Used Semi-truck?

Depends. The single greatest determining factor of a used big rig will be the mileage: how many miles have the engine and the chassis traveled?

More so than with a new semi-truck, you will need to do your research on a semi-truck’s history to determine whether you are getting a good deal or a raw one. A low priced truck might seem like a good investment, but if you have to spend money getting replacement parts every few months, was it really worth the savings on the initial purchase? Typically a nice used semi-truck is starting at $40k up to $80k+ depending on the make, model, mileage, and condition.

Check out these truck listing sites for more details and inventory

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What Insurance Do I Need For a Semi-Truck?

Before you get semi-truck financing, you will need semi-truck insurance. There are many types of insurance you may need, and what you need depends entirely on what you need covered. Insurance types include:

  • General liability
  • Primary liability
  • Non-trucking liability
  • Bobtail
  • Physical damage
  • Motor truck cargo
  • Worker’s compensation

If you want to learn more, check out our article on commercial truck insurance.

Insurance Cost Estimates

Your business is probably your largest asset, and not having the proper insurance for your trucking when an accident happens can cause financial ruin. Insurance is like anything else you buy. You get what you pay for. You want to make sure you use a reputable carrier and or broker.

  • General Liability (GL) – Typical coverage limit of $1 million with an estimated annual premium of $750 to $7,000
  • Primary Liability Insurance – Minimum interstate trucker coverage limit of $750k  with an estimated annual premium of $2,500 to $4,000 per truck
  • Non-Trucking Liability – Typical coverage limit of $250k with an estimated annual premium of $450 to $5,000 per truck
  • Bobtail Insurance – Typical coverage limit of $1 million with an estimated annual premium of $350 to $450
  • Physical Damage Insurance – Stated or the actual value of the truck with an estimated annual premium of $2.5% to 5% of the truck’s value.
  • Motor Truck Cargo Insurance – Typical coverage limit of $5,000 with an estimated annual premium of $500 to $1,000

If you’re a fleet owner and have employees and or multiple drivers you need to have a strong insurance portfolio. Having a good insurance broker can help you get the correct coverages and bundle discounts for your business insurance.

What is Section 179?

Section 179 allows knowledgeable business owners to write-off their depreciable assets as an expense instead, effectively getting a discount on the truck equal to their tax rate percentages.

Say you are the owner of a truck driving business that will owe the US government $100,000 in 2020, and your marginal tax rate is 35%. If you purchase a $150,000 new truck and use Section 179 to write it off as an expense, you will lower your tax liability by $52,500, meaning you will owe the US government only $47,500. This tax reduction effectively makes the cost of purchase for the new truck $97,500.

For more information, check out our article on Section 179.

What Is Form 4562?

Form 4562 is the IRS form to declare depreciation and amortization. It is also where you use Section 179 to deduct assets as an expense immediately. When filling out Form 4562, you will want to work backward: Part I, the part relating to Section 179, requires you to finish Part V first.

Want to check out Form 4562 for yourself? Here is a link to the PDF.

In-house Semi-truck Financing – Good or Bad?

Is in-house semi-truck financing a good or bad thing, that is the question? It all depends on the dealerships finance and insurance department. Unfortunately many F&I departments shotgun your credit application to dozens of lenders and you get hammered with hard inquiries that have a negative impact on your personal credit score. 

Perhaps you’re not ashamed of your credit but rather, you don’t want any pesky hard inquiries on your report. Hard inquiries can ding your score up to 10 points! At the same time, the damage can last a long time.

This does not mean shopping around is impossible though. There are semi truck financing companies who can get you your terms and rates with a simple soft credit inquiry (these are the ones that don’t show up on your report). So, where are these companies?

Right here! Not to self-promote too much… but TopMark Funding can get you pre-approved with a simple soft inquiry. This way, you can get your rates and terms with no ding to your score and zero commitment from you. If you don’t like what we offer, you can simply say no thanks and continue on your search for semi-truck financing or leasing program that works for you.

Bottom Line

Financing a semi-truck, whether new or simply new-to-you, has a variety of different facets that need examination. Credit score, the truck brand and model purchased, the insurance required, knowledge as to who is driving the commercial vehicle, and more all impact the process.

Fortunately for you, TopMark Funding is here to help you with a plan to help you get commercial truck financing every step of the way.

Semi-Truck Financing - $250k

Buying a Trailer? We Can Hook You Up! Any Make, Model, and Style

Every semi-truck needs a trailer, that’s a fact! At TopMark Funding we don’t only finance semi-trucks, we have great trailer financing programs for any make and model commercial trailer.

Deciding whether to lease a trailer or get a trailer loan? Having a partner like TopMark Funding that understands the commercial trailer industry and all that comes with it like registration, insurance, warranties, etc… is crucial to your success and growth in the commercial trucking industry.

Get a Semi-Trailer Quote Today – Quick & Easy Process

A Few More Semi-Truck Facts

What is a Semi-Truck?

What is a semi truck? In North America, the combination vehicles made up of a powered truck and one or more semi-trailers are known as “semis”, “semi-trailers”, “tractor-trailers”, “big rigs”, “semi-trucks”, “18-wheelers”, or “semi-tractor trailers” and “semi-trailer trucks”.

The tractor unit typically has two or three axles; those built for hauling heavy-duty commercial construction machinery may have as many as five, some often being lift axles.

The most common tractor-cab layout has a forward engine, one steering axle, and two drive axles. The fifth-wheel trailer coupling on most tractor trucks is movable fore and aft, to allow adjustment in the weight distribution over its rear axle(s).

Learn more about What is a Semi-Truck

What Do They Call It a Semi-Truck?

A semi-trailer truck more commonly semi truck or simply “semi” is the combination of a tractor unit and one or more semi-trailers to carry freight. A semi-trailer attaches to the tractor with a fifth-wheel coupling as known as a hitch, with much of its weight borne by the tractor. The result is that both the tractor and semi-trailer will have a design distinctly different from that of a rigid truck and trailer.

What Are The Different Semi-Truck Styles?

  1. Flat Roof SleeperA sleeper cab or truck sleeper is a semi-truck that has a compartment attached to the cabin for the truck driver(s) to rest and sleep. Typically has a bunk and side storage compartments. The flat roof sleeper has a flat roof and less headspace.
  2. Mid-roof SleeperA 76-inch mid-roof sleeper is a semi-truck that has a compartment attached to the cabin for the truck driver(s) to rest and sleep. Typically has a bed, tv, and storage compartments. The mid-roof sleeper has a slightly higher and rounded roof for more headroom and space. 
  3. Raised Roof SleeperA raiser-roof sleeper is a semi-tractor with a compartment attached to the cabin for the truck driver(s) to rest and sleep. Some sleeper offers a premium sound system, flat-screen tv, and side storage tower. The raised-roof sleeper has the highest roof for more space and better driver comfort. 
  4. Day Cab The day cab semi-trucks a tractor that is designed for day trips. It does not include the on-the-road overnight sleeping compartment. The purpose of the day cab is to hook up and haul large loads on short trips within the same day.

For more types and styles of commercial vehicles check out articles about the Different Types of Commercial Trucks & Vehicles

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