Peterbilt

Mehmi Financial Group helps businesses finance and lease Peterbilt equipment, including trucks and tractors, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Peterbilt units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.

About Peterbilt

Peterbilt was founded in California in 1939 by T.A. Peterman, according to Peterbilt. It is part of PACCAR, alongside Kenworth. Peterbilt trucks for the US market are built mainly in Denton, Texas, and Canadian production is centred in Sainte-Thérèse, Quebec. The lineup includes on-highway models such as the 579 and 589, the vocational 567 and the classic long-nose 389, which reached its 100,000th unit in 2023.

Peterbilt models and their buyers

The 579 is an aerodynamic on-highway tractor common with fleets. The 589 has a wider cab and a lower stance, and the 389 has long been a favourite with owner-operators who want traditional styling. The 567 is built for vocational work such as dump, mixer and heavy haul. Each has its own resale market, which affects how lenders value a used truck.

What lenders review on a Peterbilt

Lenders check model year, odometer reading, engine (current trucks often run the PACCAR MX-13), emissions system history and the sleeper or day cab configuration. Classic models like the 389 often hold their value well with owner-operators, but lenders still review condition and mileage closely. For high-kilometre trucks, proof of an engine overhaul or a recent inspection can help.

PACCAR Financial vs other lenders

PACCAR Financial offers financing through Peterbilt dealers. Comparing it with banks and independent truck lenders can help, especially on used trucks, private sales, newer owner-operators and mixed fleets.

How Peterbilt equipment financing works

Most Peterbilt purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.

Peterbilt equipment we help finance

Financing Peterbilt trucks

Trucks are financed by owner-operators, fleets and vocational businesses. Lenders review model year, odometer reading, engine and emissions history, and your operating authority and driving experience. Specification matters: sleeper or day cab, axle configuration and body type all affect resale demand. For older or high-kilometre units, lenders may ask for proof of an engine rebuild or a mechanical inspection.

Peterbilt trucks on our eligible equipment list include Peterbilt 320 Refuse Truck, Peterbilt 520 Garbage Truck, Peterbilt 579EV Electric Truck and Peterbilt 589 Sleeper Truck.

Financing Peterbilt tractors

Tractors are financed for row crops, hay, livestock and property work, and for some construction and municipal uses. Lenders look at horsepower class, hours, transmission type and the implements bought with it. Payment schedules can often be matched to harvest or sales seasons. Used tractors with documented service history and common configurations are usually easier to place with lenders than rare or heavily modified units.

Peterbilt tractors on our eligible equipment list include Peterbilt 589 Highway Tractor.

What lenders check on a Peterbilt truck

Lenders look at model year, odometer reading, engine and emissions history, and your driving or operating experience. Long-haul use is often reviewed more closely than local or vocational work.

Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and kilometres or miles, and financial statements or tax returns for larger amounts.

See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.

All Peterbilt models with financing pages

Tax treatment of Peterbilt equipment

In Canada, trucks and tractors designed for hauling freight with a gross vehicle weight rating over 11,788 kg generally fall in CCA Class 16, while other trucks and vehicles generally fall in Class 10. Trailers have their own rules, so confirm the class with your accountant. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.

Can I finance a used Peterbilt 389?

Yes. The 389 is popular with owner-operators and often holds value well, but lenders still review mileage, engine history and condition.

Are Peterbilt trucks built in Canada?

Peterbilt says Canadian production is centred in Sainte-Thérèse, Quebec, while US-market trucks are built mainly in Denton, Texas.

Can I finance a Peterbilt 567 for vocational work?

Yes. Lenders review the truck, the body and the work contracts, such as dump, mixer or heavy-haul jobs.

Should I compare PACCAR Financial with other lenders?

Yes. Captive financing can suit new trucks, while banks and independent lenders may suit used trucks and private sales.

Does a PACCAR MX-13 engine affect financing?

Lenders mainly care about the engine's condition and service history rather than the brand. Records of major work help.

Can I finance a Peterbilt bought privately?

Yes, with a bill of sale, proof of ownership, a lien search and often a mechanical inspection.