Dump Truck Financing FAQs

Typically yes. Financing provides powerful leverage in your business. If you have the cash to purchase a dump truck outright, it also means you probably have the cash to use that as a down payment to finance 5 of them.  A company with an active fleet of five dump trucks can make its owner much more money than the savings on the interest expense when purchasing only one. At the end of the day, it comes down to a business decision about:

• How big you want your company to be.
• The money you want to earn.
• The risk vs reward you perceive to be involved in growing your business.

Interest rates depend on several factors such as:

• Your business’s strengths
• Your credit profile
• The industry
• The equipment type
• Current market trends

Our preferred lending partner:

• Works with a wide network of funding partners to secure the best rates available; these can be in the single digits for qualified borrowers.
• Offers financing which provides for fixed monthly payments, ensuring you know the total costs upfront so you can select a monthly payment that works well with your goals for your business.

With our preferred lending partner, most transactions can be completed within 24 hours of receiving signed documents. But each lender has different turnaround times so be sure to ask this question ahead of time if you’re going to need to be funded quickly.

No. We are hard at work, striving to become a top resource for the Dump Truck industry. While we do not sell dump trucks or commercial vehicles, we do work to provide you with resources you can use to locate those businesses who do.

Check out our Dump Truck Dealer Directory and our Online Marketplace. We can direct you to a great place that can help you secure the financing necessary to fund them.  Thay can work with you to secure the best rates, terms, and monthly payments for your purchase.

Most lenders can offer flexible repayment options, including monthly, quarterly, and annual payments.

A good process is, simple and typically involves 4-steps:

1. You apply online for a no-risk, no-obligation quote. A good lender, and certainly the one we recommend, will pull your credit as a “Soft Inquiry” which allows them to view your credit, but does not damage your credit score with a hard inquiry.
2. An expert will work with you to understand your business. This is critical in helping you select the best financing solution for your unique situation.
3. Review and sign the contract, which can often be done electronically and securely.
4. Your Funding Coordinator will complete the transaction, by collecting your down payment, and funding your dealer, typically within 24 hours of receiving signed documents and your deposit. Remember that holidays and weekends can affect turnaround times.

Here are some pros and cons for each option.

Dump Truck Purchase

Pros:

• Ownership: When you purchase a dump truck, you own it outright once the payments are complete. This gives you full control over its use, modifications, and future resale value.
• Long-term savings: Over time, purchasing may be more cost-effective than leasing, especially if you plan to use the truck for many years.
• Tax Benefits: Ownership allows you to take advantage of depreciation and other tax deductions.

Cons:

• Higher upfront costs: Buying a dump truck requires a significant initial investment or financing. This can be a hurdle for some businesses.
• Maintenance responsibility: As the owner, all maintenance and repair costs fall on you, which can add up over time.
• Depreciation: The value of the truck decreases over time, affecting resale potential.

Dump Truck Lease

Pros:

• Lower upfront costs: Leasing typically requires a smaller initial payment, making it easier to get started without a large capital investment.
• Maintenance options: Many leases include maintenance packages, reducing your out-of-pocket repair costs.
• Flexibility: Leasing gives you the option to upgrade to newer models once the lease ends, allowing you to always operate the latest equipment.

Cons:

• No ownership: You don’t own the truck at the end of the lease, which means you don’t build equity or benefit from potential resale.
• Mileage and use restrictions: Leases may have limits on mileage or usage, which could impact your ability to take on larger or long-term projects.
• Higher long-term costs: Over time, leasing can be more expensive if you plan to use the truck for many years, as you’re continuously paying for a vehicle you don’t own.

Both options have their merits, but the right choice depends on your business’s financial situation, long-term needs, and growth plans.

Yes! A good funding partner will have both A credit and flexible dump truck financing solutions, regardless of your credit score. A soft credit pull won’t impact your credit, and you can easily apply for a no-obligation dump truck loan quote.

If you’re ready to get started, we can point you in the right direction. Fill out our easy online form to get connected with a lender and learn what you might qualify for.

Financing is available with many lenders for both new and used. Consider the mileage of the vehicle and age and budget for repairs if buying used.
With our preferred lending partner, you can finance either new or used equipment. Funding is available for purchases from both private sellers and dealerships or vendors.

Read our blog post about the pros and cons of buying new VS old.

Upfront costs can vary based on the financing solution. Some options start with just one payment upfront and documentation fees.

Absolutely! Our preferred lending source works with a large network of funding partners to provide the most competitive financing and leasing solutions. They have extensive experience and work to ensure you are able to access the best programs available. Fill out our online form or call (844) 367-8785 and we’ll connect you with an expert.

No. We are hard at work, striving to become a top resource for the Dump Truck industry. While we do not finance dump trucks or commercial vehicles, we do work to provide you with resources you can use to locate those who do.

If you are interested in securing financing, please fill out our simple online form and we will connect you with our preferred lending partner.

With our preferred funding partner, financing offered will typically fund transactions ranging in size from $25,000 up to $1 million, with application-only approvals available up to $250,000.

No. We are not a lender, and we won’t pull your credit.

We can refer you to our preferred funding partner who has experts in financing dump trucks. They will likely pull your credit to evaluate the transaction on a soft pull.  The ultimate lender is likely to report to credit agencies.

Yes. A good financing partner will be capable of considering higher mileage dump trucks.