Commercial Vehicle Financing

Commercial vehicle financing covers the Class 2–7 trucks and vans a business runs every day: cargo vans, 16–26 foot box trucks, refrigerated trucks and service or utility bodies. It is secured by the vehicle title and runs 6–22% APR over 3–6 years. The upfit (shelving, liftgate, reefer unit, service body) goes into the same financing when it is on the dealer invoice. A single van sits near Bay Street’s $25K minimum; most requests are one to five units or a fleet refresh.

Typical 2026 pricing including a standard upfit. Shelving and ladder racks add a few thousand dollars; a reefer unit, service body or aerial device adds tens of thousands.

Illustrative level monthly payments on the amount financed.

Anyone whose revenue rides in a truck: package and freight delivery contractors, movers, food and beverage distributors, HVAC, plumbing and electrical service companies, utility and telecom contractors running bucket trucks, and mobile businesses built into a van. The vehicle is the collateral, so approvals track the business’s deposits and the vehicle’s resale value more than a perfect credit score.

Three of the most common vehicles have their own pages with 2026 prices and payment examples: box truck financing, refrigerated truck financing and bucket truck financing.

A work truck is rarely just a chassis. Shelving, ladder racks, a liftgate, a reefer unit, a service body or an aerial device are what make it earn, and they can be a large share of the price. When the upfit is on the dealer or upfitter invoice with the vehicle, it is financed together on one payment. Buying it separately afterward, on a card or out of cash, is the expensive way to do it.

If the upfitter invoices separately, send both invoices with the application. Most lenders will pay the dealer and the upfitter directly.

Contractors running package-delivery routes for a national network are underwritten on the route contract as much as on the vehicle: how many routes, how long the contract runs, the rate per route or stop, and the deposit history it produces. Lenders will want the contract or a summary of it. Because the vans are often replaced on a fixed cycle, a fair-market-value lease is common here.

Adding three trucks this quarter and two next quarter does not need five applications. A lender can approve a total amount and fund each unit as it is delivered, under a master agreement with a schedule per vehicle. That keeps the rate consistent across the fleet and lets you order against a known budget.

For titled vehicles there is a third option besides a loan or a standard lease. A TRAC lease (terminal rental adjustment clause) fixes the vehicle’s residual value up front. At the end you buy it for that amount, or it is sold and you settle the difference. Payments are lower than a loan, and you still have a path to ownership. Fleets that replace vans every three to four years often use a fair-market-value lease; businesses that run a box truck for ten years usually finance it.

Most box trucks and many full-size cargo vans are rated above 6,000 lb GVWR, which keeps them out of the depreciation caps that apply to passenger cars. A financed vehicle qualifies for Section 179 like a cash purchase, up to $2,560,000 for tax years beginning in 2026, when it is placed in service by December 31. Heavy SUVs and pickups have their own limits, so confirm the specific vehicle with your CPA.

Fuel, drivers and insurance down payments are better funded with working capital than stretched onto a vehicle payment. For Class 8 tractors, see semi truck financing, and for trucking companies, trucking equipment financing. Or apply once at equipment financing and we will compare offers across 100+ funding partners.