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Will I Need a Down Payment to Finance Equipment?

Usually, yes. In most cases, a down payment is required when financing equipment, including trucks, trailers, or heavy machinery. The specific amount of the down payment can vary based on several factors, including the lender’s policies, the borrower’s creditworthiness, and the type and condition of the equipment being financed.

Typically, lenders require a down payment to mitigate their risk and ensure that the borrower is financially invested in the asset. The down payment is usually a percentage of the total purchase price of the equipment. For example, it’s common for lenders to ask for a down payment ranging from 10% to 20% of the equipment’s cost, though this can vary.

However, there are some financing options where a down payment might not be necessary, or it can be significantly lower, especially if you have a strong business credit history or if special financing programs are available. Some lenders might also offer promotional financing terms, including zero down payment, during certain periods or for specific equipment.

BLF specializes in trucking and heavy equipment financing and can also provide valuable insights and help you find the most favorable terms for your situation. Additionally, we are able to assist you with a loan to help you cover any down payment needed for your equipment financing transaction.

Let BLF help you with your Equipment Financing needs.

BLF is here to assist you

Our goal is to provide you with expert help and guidance for you needs. Whether you need funding or business services for your trucking company, you are in reliable hands.

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