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Can You Lease a Box Truck With Bad Credit? What is the Rate?

Yes, you can lease a box truck with bad credit not just in the United States of America, but in most countries of the world. But it is important to note that it can be a daunting task to find a place to lease a box truck from when you have bad credit. This is because most dealerships that sell box trucks usually base the whole financing approval process on one thing: your credit score.

For someone with bad credit, this can make it almost impossible to lease a good box truck and at a good price. Indeed, it is very much possible to acquire a box truck with bad credit and bad credit truck loans are available if you know the exact place to look.

It is important to note that if your credit score falls below a certain number, then you might not get financing from traditional car dealerships. Bad credit card loans simply are not an option if you want to purchase a box truck from a traditional dealership.

Traditional dealerships only consider your past when it comes to making financing decisions – no matter how good things are looking in the present. Having said that, here are some of the companies that offer leasing services for people with bad credit to acquire box trucks.

Companies That Offer Leasing Services for People With Bad Credit

  1. TimePayment

If you are looking to acquire or lease a commercial vehicle, box truck, or other equipment, TimePayment is worth considering. Even if you are a start-up, you can qualify for funding.

Rates: .0219 – .0626 (depending on your credit profile and length of your lease term)

  1. LendSpark

LendSpark is renowned as a unique financing option, whether you want to purchase new or used equipment or vehicles. The company also offers equipment leasing.

Rates: As low as 5%, depending on your credit, and can go up to 35%.

  1. Crest Capital

A national creditor with a focus on funding equipment, vehicle, and software purchases for small businesses.

Rates: Around 5%

  1. Balboa Capital

This online lender provides equipment loans, business loans, and lines of credit to growing companies.

Rates: Average 13%

  1. LRM Leasing

LRM Leasing is known as a one-stop-shop for semi-truck financing if you have bad credit. That is because the firm does not conduct credit checks or background inquiries when approving customers. Instead, you will essentially lease – to – own your truck. LRM retains ownership of the vehicle and can repossess it if you default on your loan, but turns the title over to you after you make your last payment.

Rates: Average 11%

  1. First Capital Business Financing

First Capital Business Financing not only finances semi-trucks, but you can also get a loan for sprinter vans, medium-duty commercial trucks, heavy-duty tractors, dump trucks, and several other commercial vehicles.

The firm offers several financing options, with loans available for good and bad credit, start-up companies, and established businesses. Even those who have recent bankruptcies and repossessions may qualify for financing from LRM.

Rates: Varies

  1. Anderson Trucking Service

Anderson Trucking Service (ATS) offers a wonderful option for you to purchase your new flatbed. With the 12 – month Flatbed Lease Purchase Program, you won’t need to undergo a credit or background check or make a down payment.

Instead, you can work off your payments or pocket the money to make a down payment for one of the company’s Freightliner, Peterbilt, or Volvo trucks. ATS is known to onboard new drivers with a $3,500 signing bonus and fast-tracks new drivers to owner-operator status through its manageable program.

Rates: 7% –  32%


The network connects lenders with buyers who seek varying types of new and used vehicles. These can include pickup trucks and some small commercial vehicles. Restrictions may apply for conversion vans, salvage title vehicles, or repossessed/auctioned vehicles.

Rates: Varies


This website specializes in finding auto loans for applicants who have bad credit histories, including recent bankruptcies or defaults. Depending on when you apply, you could receive same-day approval from one of the dozens of partner lenders on the network.

Rates: Varies

  1. Auto Credit Express

This company partners with both lenders and dealers who compete for your business, which gives you an edge in getting the best loan possible. The network requires that applicants be 18 years or older and provide a verifiable income of at least $1,500 per month. Loan options include light-duty or large pickup trucks, but not larger commercial hauling vehicles.

Rates: 99% – 29.99%

  1. Kabbage

This company is recommended for borrowers with lower credit scores. Instead of solely relying on credit scores, Kabbage evaluates a business’s financials and online accounts to determine if the loan application is approved or not.

Kabbage will look at your business’s bank, online seller, payment processing, bookkeeping, and even social media accounts to determine your eligibility. The lender does not require collateral or a personal guarantee, which can be great news for business owners.

Rates: 20% to 80%

  1. Credibly

Credibly is an ideal choice for borrowers with lower credit scores who are looking for competitive rates and terms. Credibly does not focus on credit scores during the application process, but rather on a company’s financial health and stability. Credibly have two loan products: a short-term working capital loan and a long-term business expansion loan.

To qualify at Credibly, you’ll need to be in business for at least six months with $10,000 in monthly revenue and bank account deposits. If applying for the business expansion loan, you will also need to have an average daily bank account balance of over $1,000. You can borrow between $5,000 and $250,000.

Rates: 99% to 36%.

  1. BlueVine

For individuals looking to take a slightly different approach to finance their semi, particularly a used one or one at the lower end of the cost spectrum, consider working with one of BlueVine’s lines of credit. The most crucial fact to remember here is that you’ll need to pay off your balance pretty quickly to make it a viable option for your business.

That said, there are advantages to using a line of credit to purchase your box truck; rather than lock yourself into a specific model and vendor, you can comparison shop and purchase from anyone you want. BlueVine’s lines of credit offer up to $250,000 in credit, with term lengths of 6 or 12 months. You’ll be repaying weekly in the former case, and monthly in the latter.

Rates: 15% – 78%, and there’s a 1.6 – 2.5% fee per draw

  1. eLease

eLease deals exclusively in leases, but keep in mind that leasing does not necessarily mean “renting.” You can buy a truck with a capital lease like the ones offered by eLease. They offer up to $500,000 in the financing, which is more than enough to cover the purchase of a semi or two.

Leasing terms range between 2 – 5 years and one of the bigger appeals of eLease is that they don’t have any hard and firm borrower guidelines. They claim to be willing to work with new businesses and even businesses that have recently had to file for bankruptcy.

Rates: 4 – 35%.

  1. SmartBiz

Although it may not be the most common way of purchasing a box truck, it is possible to buy one using a 7(a) or 504 SBA loan. For those unfamiliar, an SBA loan is partially guaranteed by the federal Small Business Administration.

SBA loans are renowned for their generous terms lengths and good rates (at least compared to what newer businesses would normally qualify for). SmartBiz aims to make the complex and intense process of getting an SBA loan a bit easier on businesses by streamlining the processes.

Rates: 75 – 7%.

  1. CAG Truck Capital

This lender specializes in the trucking business. Exclusively offers commercial vehicle and engine overhaul financing.

Rates: As low as 10%

In Conclusion;

Please note that for a semi-truck or other large commercial vehicle, most traditional lenders seek a down payment of at least 5% of the total purchase price. Since a new semi-trucks average sticker price falls between $80,000 and $150,000, you may need a down payment of between $4,000 and $7,500.

It is one thing to have bad credit, but another thing to set a good financial record going forward. If you have a bad credit record, the deed has been done, but if you go ahead to show recklessness in your financial records, nobody will give you a chance to lease a box truck.