Does the Truck Have to Be Purchased From a Dealer?
Reviewed by George Burgess · Updated August 18, 2026
Yes. Hard Money Truck Loans finances licensed dealer purchases only. Private party purchases are not financed. If the truck you want is being sold by an individual rather than a licensed dealer, that specific purchase does not fit the current 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.
Check the Seller Before You Fall in Love With the Truck
A truck can look perfect on paper and still be outside the program because of the seller.
That is why the seller should be one of the first things you check.
If the truck is on a licensed dealer's lot and the dealer will be the seller on the purchase paperwork, you are starting from the correct type of transaction.
If an individual is selling their own truck directly to you, it is a private party purchase and HMTL does not finance it.
The Rule Is About the Transaction, Not Whether the Truck Is Good or Bad
A private-party truck is not automatically a bad truck.
A dealer truck is not automatically a good truck.
The HMTL rule is simply that the financed purchase must be from a licensed dealer.
That distinction matters because the program should not be interpreted as a quality guarantee about any truck or seller.
You should still evaluate the truck carefully before purchasing it.
What Information Should You Ask the Dealer For?
Once you are speaking with a licensed dealer, useful information to have includes:
- dealer name
- truck year
- make
- model
- VIN
- mileage
- written purchase price
- what costs are separate from the purchase price
- any deposit or hold terms
Those details help you understand the purchase and provide the information needed to discuss a specific transaction.
What if You Found the Truck From a Private Seller?
If the seller is a private party, that specific purchase is not financeable through HMTL.
Your practical choices are to continue shopping for a comparable unit through a licensed dealer or decide whether you want to pursue the private transaction without HMTL financing.
Do not assume that adding a dealer name to the paperwork, using an unusual seller arrangement, or changing how money moves will automatically make a private transaction eligible.
If the seller structure is anything other than a normal licensed-dealer purchase, ask HMTL before committing money.
What About Auctions, Consignment or Unusual Seller Arrangements?
Do not assume.
The confirmed program rule is licensed dealer purchases only.
If the truck is being sold through an auction, consignment arrangement, leasing company, broker or any other structure that is not obviously a standard dealer sale, contact HMTL before bidding, signing or leaving a deposit.
The goal is to confirm the seller structure before the truck purchase becomes difficult to unwind.
Dealer Purchase Does Not Mean New Truck
Licensed dealer purchases can include used commercial trucks.
HMTL's published seller requirement is that the truck be purchased from a licensed dealer.
The current HMTL purchase-price range is $21,000 to $145,000.
The truck still has to be reviewed as part of the transaction.
Get Deposit Terms in Writing
Whether a dealer requires a deposit, whether the deposit is refundable, how long a truck can be held and what happens if financing does not close are dealer policies.
HMTL does not control those policies.
Ask the dealer for the terms in writing before you send money.
That is especially important if you have not yet confirmed that the truck transaction fits the financing program.
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
Can I finance a truck from a private owner?
Does the truck have to be new?
Does the dealer have to be in my state?
Can I finance a truck from an auction?
What if a dealer is helping a private seller with paperwork?
Can a leasing company count as a dealer?
Why should I check the seller before applying?
What should I get from the dealer?
Who decides whether my dealer deposit is refundable?
Related Resources
- Truck, Dealer & CollateralDealer Purchase vs Private Party Truck FinancingDealer and private-party truck purchases may involve different paperwork and seller structures, but only licensed dealer purchases are financed here.
- Commercial Truck Financing GuidesCommercial Truck Financing Requirements ExplainedThe difference between firm HMTL program requirements and the terms that are typical rather than automatic.
- Commercial Truck Financing GuidesHow Commercial Truck Financing WorksA simple explanation of the commercial truck financing process from choosing the truck to getting the dealer funded.
- 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.
- Real Buyer QuestionsI Found a Truck but My Bank Declined Me. What Are My Options?You found the truck and the bank said no. Keep the transaction together and see whether it fits another commercial truck financing program.
- Down Payments, Documents & ApprovalDocuments Needed for Commercial Truck FinancingWhat to have ready before you apply, without pretending every transaction uses the exact same checklist.
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.