Semi Truck Loan Calculator

Enter the truck's price, new or used, your down payment, rate, and term. You get the monthly payment built the way a lender builds it, the same loan at every term and every rate band lenders reported in 2026, and, if you add your miles, what the payment costs you per mile.

Used truck New truck (adds the 12% federal excise tax) New, tax already in the price

Truck price ($)

Down payment (% of price) (lenders commonly ask 10 to 20%, and 20% or more on a used truck or a new business)

Interest rate (APR %) (use your quote; the result prices this loan at every reported rate band)

Loan term

Miles a month (optional: turns the payment into a cost per mile)

Balloon at the end (% of price) (optional: blank means a standard loan that pays down to zero)

Sales tax (%) (optional: many states exempt trucks used in interstate commerce)

Fees and extras financed ($) (optional: documentation fees, a warranty, anything rolled into the loan)

Was this calculator helpful?

Data reviewed: September 2026. Figures here come from published sources and change over time. How we verify

How the semi truck loan calculator works

For most owner-operators the truck is the business, and the payment is the one bill that arrives whether the freight does or not. That makes it worth understanding before you sign, not just estimating. Enter the truck's price, whether it is new or used, your down payment, the rate and term, and the page builds the loan the way a lender does: the 12 percent federal excise tax on a new truck, any sales tax and fees you roll in, minus your down payment, then the standard amortization formula for the monthly payment, with an optional balloon at the end.

Then it shows the three things a bare payment calculator leaves out. The same loan at every term from 36 to 84 months, because the term trades payment for interest. The same loan at every rate band lenders reported in 2026, because your rate moves the payment more than almost anything you can negotiate on the truck. And, if you enter your miles, the payment as a cost per mile, which is how it actually competes with fuel and insurance for your revenue.

The formula

amount financed = price + 12% excise tax (new trucks) + sales tax + fees − down payment
monthly payment = (P − B ÷ (1 + r)ⁿ) × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
payment per mile = monthly payment ÷ miles a month

P is the amount financed, r is the monthly rate (the APR divided by 12, as a decimal), n is the number of monthly payments, and B is the balloon owed with the last payment. With no balloon, B is zero and the formula is the ordinary loan payment every lender uses, the same one behind our car loan calculator. A balloon lowers the monthly payment because the payments only have to repay the rest of the loan, while interest still runs on the whole balance until the end.

Worked example

A used Class 8 truck at $61,000, about the average retail price ACT Research reported for July 2026, with 20% down, financed at 12% for 60 months, running 9,000 miles a month.

What you finance: $61,000 minus $12,200 down is $48,800. A used truck pays no federal excise tax, because the 12% applies only to a truck's first retail sale.

The payment: at 1% a month for 60 months, $1,085.53 a month, and $16,332 of interest over the loan.

Per mile: $1,085.53 ÷ 9,000 miles = 12.1 cents a mile before fuel, insurance, or your own pay. In a slow month of 6,750 miles, the same payment is 16.1 cents a mile, because it does not shrink when the freight does.

The rate lever: the same $48,800 is $989.49 a month at 8% and $1,432.34 at 25%, a difference of $443 a month and $26,571 over the loan, for the same truck.

The term lever: 36 months costs $1,620.86 a month and $9,551 of interest; 84 months costs $861.45 a month and $23,562 of interest. The long loan is $759 a month easier and $14,011 more expensive.

What semi truck loan rates look like in 2026

There is no single semi truck rate, because lenders price the borrower as much as the truck. The figures lenders and trade reporting published in 2026 cluster into rough bands. Strong borrowers with several years in business see starting rates around 7.5 to 9 percent, and a lender quoted in FreightWaves in September put the range at roughly 5.25 percent for the strongest private fleets up to 12 percent or higher for lower-credit small operators. Typical borrowers with a couple of years behind them are often quoted 15 to 20 percent, and credit scores under about 625, or an older truck with high miles, can run 15 to 30 percent with a large down payment. The rate table in the calculator puts your loan at a representative point in each band so you can see what the band means in dollars.

The backdrop moved this month, too. The Federal Reserve raised its target range to 3.75 to 4.00 percent on September 16, 2026, its first increase since 2023, and the prime rate that many bank loans are priced from went to 7.00 percent the next day. Truck lending had already tightened: several banks left the market during the freight downturn, and lenders are cautious with new authorities because so many small carriers did not survive it. None of that is a judgment about you. It is how lenders price the unknown, and it is why the levers you control matter so much: time in business, a clean payment history, a bigger down payment, and a newer truck all move you down the table, often by several points.

Down payments, terms, and truck age limits

Many lenders ask for 10 to 20 percent down; a credit union truck lender publishes a 15 percent minimum on new trucks and 20 percent on used ones, and startups and borrowers with weaker credit are often asked for 20 to 35 percent. Terms usually run 24 to 84 months, and 72 months is a common maximum. Lenders also cap the truck itself: many are hesitant to finance a truck older than about 10 years or with more than about 700,000 miles, though limits range from seven to fifteen years depending on the lender. That is the quiet trap in a long loan on a used truck: an 84-month loan on a truck with 400,000 miles can outlast the engine's next overhaul, and you will be paying for both at once.

New or used: the 12 percent tax and sales tax

A new heavy tractor carries a 12 percent federal excise tax on its first retail sale, and there is no exemption for electric trucks. On a $172,500 day cab that is $20,700. A used truck does not pay it again, because the tax applies only to the first retail sale, which is one reason a used truck's financed amount is so much lower than its new sticker suggests. If your quote already includes the tax, choose the "tax already in the price" option so it is not counted twice.

Sales tax depends on your state, and many states exempt trucks used in interstate commerce under what are called rolling stock exemptions. Washington, for example, exempts vehicles used in interstate commerce if they are used at least 25 percent of the time across state lines, and Kansas and Michigan have rolling stock exemptions of their own, each with its own conditions and paperwork. Check your state's rule before assuming you owe it; the sales tax field is optional for that reason.

The payment is a cost per mile

Enter your monthly miles and the calculator turns the payment into cents per mile, which is how it really competes for your revenue. It is a fixed cost: fuel and tires go down when the truck sits, the payment does not. That is why a slow month hurts twice. Our trucking cost per mile calculator takes this monthly payment as its truck payment line and adds fuel, insurance, maintenance, and deadhead to find the rate per loaded mile you need to break even.

Balloons and TRAC leases

A balloon lowers the monthly payment by leaving a lump sum owed at the end. It is not forgiven: you pay it in cash, refinance it, or sell the truck to cover it. TRAC leases work on the same idea with a set residual value at the end of the lease, and if the truck sells for less than the residual, you owe the difference. One broker reports residuals typically set at 20 to 35 percent of the original cost on a 60-month lease. Enter a balloon percentage to see how much it lowers the payment and how much interest it adds, since interest keeps running on the part you have not paid down.

Writing off the truck in 2026

For a business buyer, the tax treatment in 2026 is generous. The One Big Beautiful Bill Act restored 100 percent bonus depreciation for qualifying property acquired and placed in service after January 19, 2025, and the Section 179 limit for tax years beginning in 2026 is $2,560,000, phasing out once total purchases pass $4,090,000. Over-the-road tractors are 3-year property under the IRS's own tables, and financing the truck does not stop you from deducting it. At a 24 percent federal bracket, deducting a $61,000 truck is worth up to about $14,640 of federal income tax in the first year, before self-employment and state tax. Two cautions: a deduction lowers taxes, not the price, and when you sell the truck later, depreciation recapture can bring some of that tax back. This is general information, not tax advice; a tax professional who knows trucking can tell you what fits your year.

Financing an electric semi: does the fuel saving carry the payment?

An electric semi costs far more up front, so its payment is bigger, and the fair question is whether its lower running costs cover the difference. Using the defaults on our electric semi truck cost calculator, a Tesla Semi Standard Range at the reported $260,000 plus the 12 percent excise tax, against a $172,500 diesel day cab plus the same tax, both financed with 15 percent down at 8 percent for 60 months, comes to $5,113.71 a month against $3,392.75: $1,720.96 a month more for the electric truck. At that page's defaults the electric truck saves $54,708 a year to run, about $4,559 a month, so the running savings cover the bigger payment about 2.6 times over. The honest caveats travel with that number: it assumes depot charging at commercial rates and the reported price, and public charging or demand charges can shrink the savings fast. The electric semi page lets you test all of that.

Sources

Where the numbers on this page come from. We go to the body that publishes the figure, not to another calculator. Figures on this page were checked against these sources in September 2026. See how we verify.

Federal Reserve issues FOMC statement (September 16, 2026), Board of Governors of the Federal Reserve System. The Committee raised the target range for the federal funds rate by a quarter point to 3.75 to 4.00 percent.
Wall Street Journal prime rate, Bankrate. The WSJ prime rate moved to 7.00 percent effective September 17, 2026, from 6.75 percent.
Mid-size fleets and the truck financing market, FreightWaves (September 13, 2026). A Mitsubishi HC Capital America executive puts financing at roughly 5.25 percent for investment-grade private fleets up to 12 percent or higher for lower-credit small operators, and describes banks leaving truck lending during the downturn.
Semi truck financing, Truck Lenders USA. A lender's own published tiers: 8 to 14 percent for strong borrowers, 15 to 20 percent for typical borrowers, 15 to 30 percent for credit under 625; down payments from 0 to 10 percent for strong borrowers to at least 20 percent for startups.
Commercial truck financing, LendingTree (August 31, 2026). Lender starting rates of about 7.5 to 9 percent; many lenders require 10 to 20 percent down; terms typically 24 to 84 months; lenders hesitant to finance trucks older than 10 years or with more than 700,000 miles.
Truck loans, Self-Reliance Federal Credit Union. A credit union truck lender's published terms: minimum 15 percent down on new trucks and 20 percent on used, terms up to 72 months, two years minimum in business.
Used Class 8 truck sales, July 2026, Transport Topics, reporting ACT Research (September 2, 2026). Average retail sale price of a used Class 8 truck decreased 2 percent to $60,986 in July 2026, at an average of 411,000 miles. Our worked example rounds it to $61,000.
Publication 510, Excise Taxes (Rev. December 2025), Internal Revenue Service. A tax of 12 percent of the sales price is imposed on the first retail sale of heavy trucks and tractors; a sale is not a first retail sale if there has been a prior taxable sale, lease, or use.
Revenue Procedure 2025-32, Internal Revenue Service. For tax years beginning in 2026, the Section 179 deduction cannot exceed $2,560,000, reduced once Section 179 property placed in service exceeds $4,090,000.
Publication 946, How To Depreciate Property, Internal Revenue Service. 100 percent special depreciation allowance reinstated for qualified property acquired and placed in service after January 19, 2025; tractor units for over-the-road use are 3-year property.
Interstate commerce: carrier and motor carrier permit holder exemption, Washington Department of Revenue. An example state rolling stock exemption: sales of motor vehicles and trailers used in interstate or foreign commerce, used at least 25 percent in interstate commerce.
Terminal Rental Adjustment Clause (TRAC) lease, PACCAR Financial. A TRAC lease offers a lower monthly payment and a set residual value; if the truck sells for less, the lessee owes the difference.

Frequently asked questions

How do you calculate a semi truck loan payment?

Add the truck's price, the 12 percent federal excise tax if it is new, any sales tax, and financed fees, then subtract your down payment to get the amount financed. Divide the APR by 12 for the monthly rate r, and the payment is the amount times r times (1 + r) to the n, divided by ((1 + r) to the n minus 1), where n is the number of months. The calculator shows every step with your numbers.

How much is the payment on a $70,000 semi truck?

With 20 percent down, financed at 12 percent for 60 months, a $70,000 used truck costs about $1,245.69 a month. At 8 percent the same loan is about $1,135, and at 18 percent about $1,422, which is why your rate matters as much as the price.

What interest rate should I expect on a semi truck loan?

In 2026, lenders reported starting rates around 7.5 to 9 percent for strong, established borrowers, 15 to 20 percent for typical borrowers with a couple of years in business, and 15 to 30 percent for credit under about 625 or an older, high-mile truck. The prime rate moved to 7.00 percent after the Federal Reserve raised rates on September 16, 2026.

How much down payment do I need for a semi truck?

Many lenders ask for 10 to 20 percent. A credit union truck lender publishes a 15 percent minimum on new trucks and 20 percent on used ones, strong borrowers can sometimes put down less, and new businesses or borrowers with weaker credit are often asked for 20 to 35 percent.

Is it hard to get a loan for a semi truck?

It is harder for new authorities and borrowers with weaker credit, and it got harder in the freight downturn as some banks left truck lending. Lenders look at time in business, credit, down payment, and the truck's age and miles; many hesitate past about 10 years or 700,000 miles. Two years of clean history and a bigger down payment are the most reliable ways to improve the offers you get.

Do you pay the 12% federal excise tax on a used semi truck?

Generally no. The 12 percent federal excise tax applies to the first retail sale of a heavy truck or tractor, so a used truck that was already taxed does not pay it again. A new truck does, electric ones included.

Can I write off a semi truck on my taxes?

For a business, usually yes, and 2026 is generous: 100 percent bonus depreciation is back for property acquired after January 19, 2025, the Section 179 limit is $2,560,000, and over-the-road tractors are 3-year property. Financing the truck does not stop the deduction. Depreciation recapture can apply when you sell, and a tax professional should confirm what fits your situation.

What is a balloon payment or a TRAC lease on a semi truck?

Both lower the monthly payment by leaving a lump sum at the end. A balloon loan leaves a set amount owed with the last payment; a TRAC lease sets a residual value, and if the truck sells for less, you owe the difference. Interest keeps running on the part you have not paid down, so the lower payment costs more interest overall.

What does a truck payment cost per mile?

Divide the monthly payment by your monthly miles. A $1,085.53 payment on a truck running 9,000 miles a month is about 12.1 cents a mile, and it rises in slow months because the payment is fixed. Our trucking cost per mile calculator adds fuel, insurance, and maintenance to find your break-even rate.