Where Can I Get a Sleeper Truck If I Have Bad Credit?

The Short Answer: Where To Get a Sleeper Truck With Bad Credit

If you have bad credit and need a sleeper truck, you can get it through Hard Money Truck Loans. We finance sleeper trucks bought from licensed commercial truck dealers for people whose credit has been turned down everywhere else.

There is one thing you must have: 30% of the purchase price as a down payment. If you have the 30% down, your credit score is not what decides the deal. If you do not have 30% down, the deal will be denied.

Call or text us at (407) 250-8536 to talk through the sleeper truck you want.

Why 30% Down Is Required

With bad credit, the down payment is what makes the deal work. Banks lean on your credit score. We lean on the cash you put into the truck. Putting 30% down shows you are committed to the sleeper truck and keeps the loan at a size that makes sense for the truck you are buying.

This is not a suggestion and it is not negotiable. Applications that come in short of 30% down get declined, no matter how the rest of the file looks. If you are still saving, the best move is to keep saving until you have the full 30%, then call or text us.

• $40,000 truck: $12,000 down
• $75,000 truck: $22,500 down
• $100,000 truck: $30,000 down
• $145,000 truck: $43,500 down

Startups with no operating history under their own authority typically need 40% down and 2 years of industry experience.

How Our Program Works: Your Score Does Not Decide It

Our program has no minimum credit score. A 480, a 520 or a 580 does not get you turned away by itself. Collections, charge offs and late payments are things we work with every day.

What we look at is the deal: your 30% down, the sleeper truck you picked, the licensed dealer selling it and your recent bank statements. When those line up, a low score is not the reason you get told no.

Two things still apply to everyone. There can be no bankruptcy or repossession within the last 5 years, and the truck must come from a licensed dealer with a purchase price between $21,000 and $145,000.

Collections And Charge Offs Are OK

Collections and charge offs are OK with us. So are late payments, past due accounts and a low score that came from a rough stretch. We see these on credit reports every day, and they do not stop a sleeper truck deal by themselves.

What matters is that you have 30% of the purchase price down and the truck fits the program. If you have that, your collections and charge offs are not the reason you get told no.

• Collections: OK
• Charge offs: OK
• Late payments: OK
• Low credit score: OK, there is no minimum
• Turned down by a bank already: OK

The one credit rule we hold to: no bankruptcy or repossession within the last 5 years.

We Are Not Your Last Resort. We Are Your Only Resort.

A lot of people come to us after hearing no from their bank, their credit union and every online lender they tried. They think of us as the last resort. We are not your last resort. We are your only resort, because we built this program for the exact buyer everyone else turns away.

If your credit is bad and you have 30% down, you do not need to keep applying all over town and taking more hits on your credit. Text us first. We will tell you straight whether your sleeper truck deal fits.

Who Usually Needs Sleeper Truck Financing With Bad Credit

• Company drivers ready to become owner operators
• Owner operators leasing onto a carrier for long haul freight
• Small carriers adding a sleeper to run regional and national lanes
• Team drivers who need a full size sleeper cab

Why Banks Say No And What Is Different Here

Sleeper trucks are one of the most declined truck types for credit challenged buyers. Banks see a high mileage tractor and a low score and say no without looking further.

Hard Money Truck Loans is built for exactly that buyer. Instead of a score cutoff, the program is built around a real down payment and a real truck from a real dealer.

What To Have Ready Before You Call Or Text

• Your 30% down payment (or 40% for a startup)
• The sleeper truck you want and the licensed dealer selling it
• The written purchase price from the dealer
• Year, make, model and mileage of the truck
• Approximately 4 months of business bank statements

Talk To Us Today

Call or text (407) 250-8536 and tell us about the sleeper truck you want and how much you have for a down payment. Same day approvals may be available, and funding can occur in as little as 3 days once the deal is ready. Neither is promised on any specific deal, but when you have the 30% down and the truck fits the program, things move fast.