Class 8 tractors are the backbone of Canadian freight. They’re high-value, asset-heavy, and mission-critical—any downtime impacts revenue, contracts, and safety. Financing must reflect that reality: fast approvals, structures that match duty cycles, and terms that protect cash flow while keeping rigs compliant and road-ready.

Mehmi sells equipment directly and finances it in-house or through our lending network—so you’re not juggling multiple parties. Explore our heavy-duty truck expertise and the broader transportation & trucking programs we run nationwide.

What can you finance?

Class 8 highway tractors (day cabs, sleeper cabs), vocational units (dump, concrete, logging specs), and supporting equipment (reefers, flatbeds, end dumps). If you’re expanding lanes or replacing aging units, confirm eligibility on Eligible Equipment, then price scenarios with our calculator.

Choosing the right structure

Below is a practical, apples-to-apples comparison for the most common structures used by Canadian fleets.

Option	Ownership Path	Monthly Cash Flow	Tax Treatment (Typical)	When It’s Best	Notes
Equipment Loan	Own from day one; title in your name	Moderate (fixed amortization)	Interest + CCA depreciation	Long-life tractors you’ll keep 5–10 years	Predictable; equity builds; ideal for stable lanes
Equipment Lease	Use now; buyout at term end (e.g., $10 or % residual)	Lower (residual reduces payment)	Payments often expensed (structure-dependent)	Cash-flow priority or frequent upgrade cycles	Great for rapid model refreshes and tech upgrades
Sale-Leaseback (Refi)	Sell owned units to lender; lease them back	Varies; injects immediate cash	Expense payments; frees trapped equity	Unlock capital for expansion or repairs	Strong for fleets with equity on the yard
Equipment Line of Credit	Draw as needed; own or lease per draw	Flexible; pay interest on draws only	Interest deductible; structure varies	Rolling replacements or seasonal growth	Speed for add-on units without re-applying
Truck Repair Financing	N/A (service event, not an asset)	Short term; targeted spend	Expense repairs	Avoid downtime while preserving cash	Bridge large repair bills or mid-life overhauls

2025 approval factors (what underwriters actually weigh)

Time in business & credit depth
Established carriers with clean financials typically receive better pricing and longer terms. Startups can still qualify with the right mix of down payment, contract evidence, and strong guarantors.

Unit profile
Year, mileage, make/model, and prior use (highway vs. vocational) influence term length and residual viability. Late-model tractors often unlock better structures.

Coverage & compliance
Proof of insurance, CVOR/NSC standing, and maintenance records help. If you’re mid-rebuild, consider truck repair financing to stabilize the unit before underwriting.

Cash position & pipeline
Contracts, route maps, and TMS evidence demonstrate sustainability. If cash is tight but assets are strong, sale-leaseback can inject working capital quickly.

Industry & asset mix
Reefer vs. dry van lanes, B-train usage, and regional seasonality all matter. If you’re adding trailers with tractors, fold in trailer financing expertise.

How to model the payment correctly

If you buy and maintain units for long cycles, loans often win on total cost. If cash flow and upgrade cadence lead, leasing with a modest buyout frequently optimizes payments.

Startups and owner-operators

Documentation checklist to speed up a 24–48h decision

Send your package through Contact Us; we’ll structure the file for the most competitive terms.

When repairs beat replacement

Mid-life majors—DPF, turbo, in-frame—can extend service life and keep you within safety and uptime targets. If the math says “repair now, replace next year,” deploy truck repair financing and re-run the calculator to compare repaired-unit cost per mile vs. new payment.

Case study: doubling lanes with blended financing

A GTA carrier running three highway tractors won a multi-year food contract requiring five units within 30 days. Cash on hand would cover one tractor—short of the mark.

Result
All five units were ready before the start date. Cash buffer stayed healthy for fuel and payroll, and the blended plan reduced average monthly spend ~12% compared with straight loans on all units. The client priced future replacements through the equipment line of credit for faster turns.

Practical tips for 2025 buying cycles

Frequently asked questions

Do you finance used Class 8 trucks?
Yes. We finance new and used units (subject to year/mileage and condition). Start on Eligible Equipment and browse our inventory.

How fast can approval happen?
With a complete file, many approvals can be turned within 24–48 hours. Send your details via Contact Us.

Is leasing cheaper than a loan?
Leasing usually lowers the monthly payment via a residual. Loans often minimize total interest over long holds. Compare both with the calculator.

Can I finance tractors and trailers together?
Yes. We commonly package tractors with reefers, dry vans, or flats. See trailer financing expertise.

What credit score and down payment do I need?
There isn’t a single threshold—files are assessed holistically. Stronger credit and some contribution help; startups can offset limited history with contracts and collateral. If capital is tight, look at sale-leaseback.

Next step

If you’re planning a Class 8 purchase or replacement, model your scenarios with our calculator, then send your file to our team. Feel free to contact our credit analysts to tailor a structure that fits your routes, seasonality, and growth plan.