Mehmi Truck Loan

Looking for a truck loan in Canada? Mehmi Financial Group offers flexible truck financing options across Brampton, Toronto, Mississauga, and all major GTA cities.

6 minutes

Written by

Alec Whitten

Published on

May 18, 2025

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Owning a truck—or an entire fleet—is critical to running a successful transportation or logistics business in Canada. But for small business owners, the upfront costs of trucks, maintenance, and payroll can stretch even the strongest budget.

That’s where Mehmi Financial Group steps in. Based in Brampton and serving all major cities across the Greater Toronto Area (GTA), we specialize in affordable truck loans designed to help new and experienced operators get the vehicles they need—without being limited by credit score or capital constraints.

What Is a Truck Loan?

A truck loan is a financing solution that allows you to purchase a commercial vehicle (such as a dump truck, box truck, semi, or flatbed) and repay the cost over time through structured monthly payments. This allows you to maintain working capital while investing in income-generating assets.

At Mehmi Financial Group, we offer truck and equipment financing tailored to:

Owner-operators building their first fleet
Companies expanding their logistics operations
Contractors replacing aging trucks
Buyers who need semi-truck loans or used truck refinancing

We also support applications for truck loans involving refrigerated units, dump trucks, flatbeds, and vocational trucks.

Why Truck Financing Matters for Small Business Owners

Trucking is a high-demand industry—but also one with high overhead. Between equipment costs, fuel, maintenance, and payroll, the financial pressure can mount quickly.

A Truck Loan Can Help You:

Preserve working capital
Retain top drivers by managing payroll
Replace or upgrade your vehicle without a large upfront cost
Refinance older vehicles and lower monthly payments
Fund business expansion without diluting ownership

We work with all types of trucking businesses—from single-vehicle operations to multi-truck fleets.

Factors to Consider When Applying for a Truck Loan

1. Down Payment

If your credit score is lower, you may be asked to put down between 10% and 30% of the truck’s purchase price. For example, a $100,000 dump truck may require $10,000–$30,000 upfront to secure financing.

2. Credit Score

Check your credit score with a free tool like Equifax before applying. A strong score (above 650) often leads to lower interest rates and better terms. If your score is below 600, we can still help—just know you may need to provide a higher down payment or offer collateral.

3. Collateral

The truck you purchase typically serves as collateral. This means if you default, the lender may repossess the truck. However, this structure allows us to offer lower-interest secured loans to more applicants.

4. Loan Provider

Traditional banks offer low rates, but they often have stricter credit criteria. If you’ve been turned down by a bank, alternative lenders like Mehmi Financial Group may be the right fit—especially for borrowers with less-than-perfect credit or non-standard documentation.

5. Home Equity Loans

If you own a home, a home equity loan may also help you secure truck financing with lower rates and longer terms. It’s an option worth exploring alongside commercial loans.