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Semi Truck Loan Financing Calculator

Truck Sale Price


Down Payment Amount


Loan Term In Months

years (rounded)

Annual Interest Rate %(APR)

% annual
% monthly

Trucking Calculator Results

Loan Amount


Monthly Payment


NOTICE Make sure you use the interest rate slider last otherwise semi truck loan results will not be as accurate.

Calculations and amorization schedule are estimations. All calculations are rounded to two decimal places(EX: $124.332534343345 is rounded to $124.33). This commercial truck financing calculator is meant for estimation purposes only and may be prone to unknown programming errors.

Email Yourself, A Spouse, or A Family Member Your Loan Amorization Schedule



red semi truck on top of small financing loan calculator in front of a white background

Commercial Truck Financing Definitions Explained

Truck Sale Price
The Truck sale price includes the price of the sale....including:

  • The Commercial Vechicle Title
  • The License and Other Similar Fees

Down Payment AKA the Semi Truck Trade in value
The down payment and trade in value of the truck includes two different parts.

1. The total amount of cash that you plan on putting down.
2. The expected trade-in allowance on your current vehicle.

Annual Loan Interest Rate (APR)
This is your anticipated annual percentage rate(APR) on your semi-truck loan.

Financing Period (Our MEH trucking form has the user input months)
The truck financing period is the total length of your loan term. Our truck financing calculator takes your input in months and then automatically outputs the number of years in your loan.

How do you calculate the principle, interest, and loan terms on semi-truck loans?

There are a few different parts that you have to use to calculate the interest amount on your trucking loan.

You need the following components to compute the fixed monthly payment of a loan, the total interest that will be paid on the loan, and the total amount you will be investing between both the principle loan amount and the interest loan amount.

  • 1. You will need to know the principal amount owed on your semi truck loan.
  • 2. You need to know the term of the loan. The term is just the length of the financing period. (3 years, 36 months)
  • 3. You will need to know the truck loans interest rate over your term period

If you are wanting to calculate your semi-truck loan, and to also make sure that you understand the financing process then keep on reading!

What should you know before financing your semi truck?

1. Understand your principle loan amount
When looking into financing, your first step should be to understand the amount of money you are borrowing from the financer you work with. The amount you borrow is know as the principle amount.

For example:

Principle Amount Of Loan = Purchase price of truck - (your trade in value + your cash down payment).

  • When buying a semi truck, you will also have to include fees and sales tax. Those two amount are often times included in the principal loan amount.
  • When truckers pay a down payment they are paying cash up from to reduce the principle amount of the semi-truck loan.
  • A trade in is when a commercial driver turns in an old vehicle in return for a reduction on their principle loan amount.
  • Often times, 'rebates' are also given out to potential truck drivers to lower the principle payment amount. A rebate is a fixed amount of money that is paid to the buyer for the purchase of a specific truck. Rebates incentivize truckers to make a purchase. In most cases, rebates are used as a way to reduce the principle loan amount.
  • Assume you’re purchasing a semi truck at $40,000. The manufacturer provides a $6,000 rebate. You also $6,000 as a down payment, and then decide to trade in your old truck valued at $10,000. The principal amount of your trucking loan is $40,000 - $6,000 - $6,000 - $10,000, or $18,000.

2. Determine the loan term. The term of your trucking loan is the length, or period, of time in which the semi truck loan will be considered outstanding. Commercial trucking loans can differ quite a bit, but the important thing to know is that the longer the is outstanding the more money you will have to pay towards interest on the trucking loan.

3. Calculating the interest owed on a trucking loan. Interest rates given on commercial vehicle financing deals are stated in the loan agreement. This interest rate is most commonly referred to as the annual percentage rate, or APR.

  • The interest rate on your semi truck loan is multiplied by the outstanding principal amount to give you the interest rate owed on a given period of time.
  • Let's say you have a principle trucking loan amount of $25,000. Your annual interest rate is 6%. But, what if we want to compute the interest owed on only a single given month? How do we find that value?
  • Your interest rate for one month, also known as your monthly interest rate, is (6%/12 = 0.5%).
  • This can also be shown as:

    monthlyInterestRate = $annualInterestRate / NumberOfMonthsInAYear

After learning how to properly calculate the principle amount, the truck loan term period, and the APR(interest rate)

Now that you know how to properly find the root variables in calculating your trucking loan, MEH would suggest using our financing calculator above to plug in the variables. Once you know what to look for you will have a better idea on what your goals are for obtaining financing on your own semi truck loan.

Common Questions About Semi-truck loans and financing commercial vehicles

  • How much does a semi truck cost to buy?
    One of the most common quest MEH trucks and trailers is asked by people considering the commercial driving industry is how much does a used semi truck cost?. There's honestly no straight answer on this question, mainly because commercial trucks have a wide range of ages, conditions, models, miles, models, and industrial types. That being said, 'like-new' models will often time run up to as high as $100,000 where as a truck that may be 7 years old could range between $30,000 and $40,000.
  • How much does it cost to lease a semi truck?
    When leasing a semi truck you have to consider the price of insurance, fuel, maintenance, etc...

    Lease payments often run between $1,000 and $2,500 per month. The price of leasing a semi truck largely depends on the type of truck. Some trucking companies even reqiure weekly payments. A new semi truck can usually be leased for somewhere between $16,000 to $2,500 per month.
  • What is the finance rate?
    A truck loans interest rate is the amount that a commercial trucker will pay annually to borrow money. This is expressed as a percentage value. The annual interest rate does not include fees charge for the financed truck loan. The Annual Percentage Rate(APR) is the cost payed each year to borrwo money, including fees. The APR is also expressed as a percentage.
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