Pickups, dump trucks, crew cabs and box trucks carry crews and equipment between jobs. Commercial truck financing keeps a fleet modern without draining cash, and many trucks qualify for first-year tax deductions.
Subject to credit approval and documentation.
An EFA is most common. Fleets that replace trucks on a cycle sometimes use TRAC leases.
| Equipment finance agreement (EFA) | You own it from day one. Fixed payments; usually eligible for Section 179. |
|---|---|
| $1-buyout lease | Lease payments, then you buy it for $1. Treated much like an EFA for tax. |
| Fair-market-value (FMV) lease | Lower payments. Return, renew or buy at market value at the end. |
Time in business, business and owner credit, revenue, and the equipment’s details: make, model, year, serial number and condition. Requests above $1M also need financial statements.
Equipment bought with an EFA or $1-buyout lease and placed in service by December 31 may qualify for a first-year deduction. Estimate your tax savings.
Need cash for delivery, training, materials or the ramp-up? Add working capital to the same application.
Yes, when the body and equipment are on the dealer’s invoice.
Many do. Trucks used more than 50% for business generally qualify; vehicles in the 6,001–14,000 lb SUV class are capped. Check with your tax advisor.
LenderCloud finances equipment from $10,000 to $10 million. Requests up to $1 million can usually be decided on the application alone; larger requests need financial statements. All financing is subject to credit approval.