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Dump Truck Financing for All Credit Ratings

Posted On: February 13, 2023 author Paul Kendall

 You’ve probably already noticed that construction is picking up through various parts of the country. Whether it’s time to upgrade construction equipment or lease new construction vehicles, you’ll need to find a way to finance all of your upcoming purchases, upgrades, or rentals.


With dump truck financing, you can gain access to a company dump truck without having to commit to a full construction vehicle purchase. You already know that dump trucks make life on the job so much easier, but did you know that you can get dump truck loans regardless of what your credit rating is?


Using Your Credit Rating for Dump Truck Financing

Most financial institutions will probably rule out your business if you show any signs of “bad credit” or don’t have a minimum number of years in operation as a construction business. If you are starting out or currently have bad credit, don’t fret! There are still ways to get new or used dump truck financing.

Getting Dump Truck Loans with Bad Credit

If you currently fall in the “bad credit” category of credit below about 600, you may have a trickier time finding financing options at most financial institutions. Generally, if you have at least 600 credit, then you can get a dump truck rental or dump truck loans without outrageous down payments.


Unfortunately, that’s not always the case for some companies. So if you have lower than a 600 credit score or have other financial complications in your business or personal history, the “simple fix” is usually just making a larger down payment or putting up more collateral.

Getting Dump Truck Loans with Good Credit

If you’re fortunate enough to have good credit and have been in business for a couple of years, then getting a dump truck lease or loan is much easier. If you go to any normal bank, you’ll probably still have to pay fairly costly rates on a loan, especially if your business classifies as “new” or “startup” (less than 2 years of business).


Most construction companies that are looking for dump truck leasing will purchase a dump truck ranging between $30K and $80K, averaging around $40K.

What Are the Rates for Dump Truck Financing

First, figure out whether or not you have “good” or “bad” credit and how many years you have been in business. Now take those numbers and use them to figure out what your average monthly payment may be for an average dump truck purchase of $40K. Good credit is a rating of 700 or above. OK credit is between 650 and 700.


  • Good Credit (2+ Years of Business) -- $1.2K to $1.4K
  • Good Credit (New/Startup Business) -- $1.3K to $1.8K
  • OK Credit (2+ Years of Business) -- $1.3K to $1.5K
  • OK Credit (New/Startup Business) -- $1.3K to $1.9K


As you can see, the monthly rates get more expensive as credit rating decreases, but even with OK credit you can still get decent leasing rates.


These numbers are estimates to help you get an understanding of what your monthly rates may be. Your financial situation is likely to differ when consulting with a lender.

Dump Truck Lease Options for Bad Credit

If your company falls in the “bad credit” category of 600 or lower, you can still get dump trucks for lease, but will have different and sometimes customized options available. For example, a lender may ask for higher monthly payments, longer payment terms, higher down payments, more collateral, etc.


Where To Get Dump Truck Financing


Although people normally apply for business loans like dump truck financing at a bank, it may not be the best choice for your business. 

When  you apply for a bank loan it will have an impact on your credit score, and there’s no guarantee that you’ll get the dump truck loan.  You also need to undergo a lengthy procedure to determine if you can repay the loan or not.

To avoid the hassle of the long and tiring screening and applying procedures, it’s better to look for dump truck financing companies.  Unlike banks, truck financing companies have a lower requirement standards and most of them can be found online. 

An example of a great dump truck financing company is Trust Capital USA.  They provide specialized financing programs for dump truck owners, and can finance up to $250,000 with a simple one page application.  And you’re still eligible for their dump truck financing programs even if you have a bad credit.

Other benefits of  Trust Capital USA include no upfront costs, and no “extra” fees. Their loans have very affordable rates, and you can also save with  repayment and loan renewals.  Best of all their loans are also very easy to apply for: you only have to fill a one-page application on their website.

More Resources

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Ready to Apply for financing for your Dump Truck business? Click the link below or call 866-458-4777

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