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Do You Need to Finance a Dump Truck?

The Smarter Finance USA team is here and we're waiting to help!

The Very Best Dump Truck Loan for New Businesses

Want to know about the best startup loan you can get to buy a dump truck?

Here’s the deal:

  • Payments are low (for a startup…)
  • Terms up to 60 months
  • Approvals up to $100,000

Sounds awesome, right?

Now, here’s the catch…

  1. You need a minimum 675-credit score
  2. This program requires a 10% down payment
  3. You must be a homeowner
  4. You’re going to get grilled




Yes… grilled.

Since you’re a startup (risky) and you’re going to get pretty darn close to the lowest payments on the market for startups… these guys try not to do dumb deals.

You’ll be asked things like:

  • Why you want to start the business
  • How much experience you have
  • How you will get jobs/ loads
  • Whether you’re buying additional equipment

With that said, if you’re approved, payments will be good.

Let’s say you buy a $50,000 dump truck with 15% down. That’s $42,500 financed.

You could expect payments around $1,025 a month for 5 years.

No Hassle and Low-Down Payment Dump Truck Loans

We do often hear from folks who want to start a dump truck business and get a loan with no money out of pocket.

Here’s the thing:

It’s very, very rare for a startup business to finance a dump truck with zero out of pocket.

With that said, there are some programs on the market that ask for just two payments in advance.

That’s usually about the lowest you’ll get away with for a startup.

The program is credit-based, but you don’t need perfect credit.



You should have:

  • 650+ FICO Score
  • Minimum 5 years of credit history
  • Financed a vehicle in the past
  • No repossessions, past due or open collection accounts

This program goes up to $50,000 and is on the higher-rate spectrum.

That’s because of the low-down payment and no questions asked. Also, there are no age or mileage restrictions on this program.

Payments on a $42,500 dump truck will usually run around $1,700. That means you’d come out of pocket $3,400 plus a few hundred for titling and documentation fees.

So… payments aren’t the best… but it’s the easiest program to get into if you’ve got low down payment and don’t want to provide a pile of paperwork.

Dump Truck Leases for New Owners with Bad Credit


What if you have bad credit (or no credit)?

Did you know… even as a startup with lousy credit…

All you need is 50% down and a pulse.


Payments are as bad as you could imagine – that same $42,500 of financing we talked about above (so imagine you’re buying an $85,000 truck and putting 50% down) is going to run you $2,500 a month for 3 years.

Ouch, right?

The truth is, if that matters, you shouldn’t start a business.

Most dump drivers we talk to plan to make $15,000 a month before their payments. For real.

If your choices are to make $12,500 a month with high payments or drive someone else’s truck for $4,000 a month… well, you do you.



Dump Truck Finance with 10% Down


So… let’s say you’ve got OK credit…

And some money… you won’t be broke after making a down payment.

..and you’re smart enough to know any startup is high risk…

But you want your total payments to be better than the worst available…

There’s a program that can be good.

That $42,500 financed amount – plan on payments of $1,900 or so over 3 years.

You’ll need decent credit and you’ll have to provide some documentation – tax returns, a business plan, bank statements, a personal financial statement… the whole shebang.

It’s a pain…. but can save you some change in the long run compared to other programs in the marketplace.

Application-Only Dump Truck Financing up to $150,000


There’s a program in the marketplace that will allow you to access up to $150,000 based just on your credit.

Even as a startup business.

(That’s crazy…)

The dump truck would have to be less than 10 years old.

Here’s what you’d need…

  • Minimum 650 credit score
  • 3 or more years industry experience
  • 5% or greater down payment

It can be a pretty good deal.

Keep in mind that not everyone will be approved up to that big amount, and not everyone will have only a 10% down payment.

(It depends on what their finance nerds in the back decide… I have no idea what their secret sauce is...)


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