I Found a Truck but My Bank Declined Me. What Are My Options?
Reviewed by George Burgess · Updated August 19, 2026
A bank decline does not automatically end the truck purchase. Another commercial truck financing program can review the transaction under different criteria. HMTL has no minimum credit score and specializes in credit challenged commercial truck and trailer buyers, but the specific truck, licensed dealer, purchase price and full transaction still have to fit the HMTL program.
Quick Financing Snapshot
- Minimum credit score
- None
- Credit specialty
- Credit challenged buyers welcome, with no minimum credit score
- Purchase price financed
- $21,000 to $145,000
- Down payment
- Typically 30% of the purchase price
- Startup down payment
- Typically 40% of the purchase price
- Seller
- Licensed dealer purchases only
- Credit history
- No bankruptcy or repossession within the last 5 years.
- Approvals
- Same day approvals may be available
Want to know whether your own situation is financeable? Get pre-approved or call (407) 250-8536.
First, Keep the Transaction Together
You already found a truck.
Keep the useful information available:
- year
- make
- model
- VIN
- mileage
- licensed dealer
- written purchase price
- buyer's order or purchase agreement if the dealer supplied one
That gives the next financing conversation a real transaction to review.
Ask Why the Bank Declined the Transaction if Possible
If the bank or dealer can explain the reason for the decline, ask.
Do not assume every bank uses the same credit rules or that every decline is caused by the same issue.
Knowing what the prior financing source said can help you understand whether anything in the transaction needs to change.
Check the HMTL Program Basics
For HMTL:
- no minimum credit score
- licensed dealer purchases only
- purchase price from $21,000 to $145,000
- established business down payment typically 30%
- startup down payment typically 40%
- startup requires 2 years of industry experience
- approximately 4 months of business bank statements is typical
- no bankruptcy or repossession within the last 5 years
A bank decline does not override these requirements.
Do Not Assume the Same Truck Has to Be Replaced
The same truck can still be worth reviewing if it fits the HMTL program.
A different truck may be necessary if the seller is private or the purchase price is outside the current range.
If the truck changes, the transaction changes too.
Dealer Deposits Are Separate
If you already left a deposit, review the dealer's written terms.
HMTL does not control the dealer's refund or hold policy.
Do not assume a financing application makes a dealer deposit refundable.
How Fast Can the Next Review Move?
Same day approvals may be available.
Funding can occur in as little as 3 days.
Those timing statements are not guaranteed for every transaction.
The actual file and closing steps still have to be completed.
What if the Answer Is Still No?
A second financing source can also decline a transaction.
No alternative program guarantees approval.
If HMTL cannot finance the transaction, understanding whether the issue is a firm program restriction, seller structure, purchase-price issue or another file-specific problem can help determine the next step.
What May Help You Qualify
- No minimum credit score
- Typically 30% of the purchase price down for an established business
- Typically 40% of the purchase price down for a startup, plus 2 years of industry experience
- Licensed dealer purchases only
- Purchase prices from $21,000 to $145,000
- No bankruptcy or repossession within the last 5 years
- Approximately 4 months of business bank statements
Potential Problems & Reasons For Decline
- A truck being bought from a private seller rather than a licensed dealer
- A purchase price outside the $21,000 to $145,000 range
- A down payment that does not reach the typical percentage for the truck selected
- A bankruptcy or repossession inside the last 5 years
- A startup without 2 years of industry experience
- Business bank statements that are incomplete or unavailable
Frequently Asked Questions
Does a bank decline automatically decline me at HMTL?
Can HMTL consider a score around 500 after a bank decline?
Can I keep the same truck?
What if the truck is from a private seller?
What if the purchase price is above $145,000?
Does alternative financing guarantee approval after the bank says no?
Can same day approval be available?
Can funding happen in 3 days?
Related Resources
- Bad Credit FinancingTruck Financing After a Bank DeclineA bank decline is one lender's decision. The next step is to identify the issue and see whether the truck fits another program.
- Bad Credit FinancingTruck Financing After a Dealer Lender Declines YouThe dealer's financing source said no. The next step is to keep the truck information together and see whether the transaction fits another program.
- Bad Credit FinancingCommercial Truck Financing Around a 500 Credit ScoreA score around 500 is not an automatic HMTL decline, but it is not an automatic approval either.
- Down Payments, Documents & ApprovalCommercial Truck Loan Down Payment RequirementsHow the typical 30% and 40% HMTL down payment structures work across different truck purchase prices.
- Bad Credit FinancingDoes a Larger Down Payment Help When You Have Bad Credit?More money down changes the financing amount, but it does not override the rest of the HMTL program.
- Commercial Truck Financing GuidesBad Credit Commercial Truck Financing ExplainedWhat bad credit commercial truck financing means at HMTL, which program terms are firm, and which are typical.
Ready To Get Your Truck Funded?
Tell us about the truck, your business and your situation. We will review whether the transaction fits the HMTL program.