Tow Truck Financing

Are You Looking to Buy a Tow Truck and Need Equipment Financing? We Are The Number One Independently Owned Transportation Equipment Finance Company in the United States. Contact Us To Help Grow Your Fleet!

Get the Tow Trucks You Need for Your Business

Running a successful towing business starts with having the right equipment, but purchasing or leasing tow trucks can be a significant investment. That’s where tow truck financing comes in.

Whether you’re a seasoned business owner looking to invest in the latest tow or wrecker equipment or a growing business seeking to establish a reliable fleet, Commercial Fleet Financing’s comprehensive tow truck loans, leases, and financing options are designed to meet your needs. With over 20 years of experience in the industry, we are a proven, trusted financial partner for businesses like yours, offering specialized financing solutions tailored to your unique needs.

If you’re looking for a streamlined application process, competitive rates, and ongoing support, look no further. We understand the demands of the tow truck industry and are committed to delivering fast approvals and customized plans that work for you. And if you’re looking to finance more than tow trucks, we also offer comprehensive commercial truck fleet financing services to help your entire business thrive.

Partner with us today and secure the equipment you need and focus on what matters most—growing your business.

How Can I Finance a Tow Truck?

Tow truck financing is a specialized financial solution designed to help business owners and fleet managers in the towing industry get the necessary equipment to operate and expand their businesses. It’s a great option if you need new or used equipment and are looking for capital to make those investments without straining your cash flow. You can shop for competitive interest rates and flexible repayment terms tailored to meet the unique needs of your towing company and your budget.

Financing a tow truck is a straightforward process that allows you to spread the cost of your vehicle over manageable payments. The first step is assessing your business needs. Determine the type of tow truck that best suits your operations—whether it’s a flatbed, wrecker, or heavy-duty model—so you can select the financing plan that aligns with your goals.

Next, look for a trusted financing partner like Commercial Fleet Financing. We specialize in providing customized financing solutions for towing businesses like yours, offering competitive rates, fast approvals, and flexible terms to make the process seamless. You’ll submit an application, provide supporting documentation, and work with a financing team to come to an agreement that works for your situation.

With pre-approval in hand, you can confidently select your tow truck(s)—whether new or used—and finalize the purchase. Your financing company will disburse the funds directly to the seller or dealer, allowing you to take ownership of your truck quickly. From there, you’ll make your payments, fulfill your lease or loan agreement, and grow your business with equipment you can count on reliably day after day.

What Kinds of Tow Trucks and Wreckers Do We Finance?

Commercial Fleet Financing provides tailored solutions for any tow truck company seeking new or used tow trucks. We have financing options designed specifically for a range of towing equipment, wrecker types, and accessories including:

Wrecker Tow Trucks: Versatile and powerful, these light-duty and medium-duty trucks recover vehicles from accidents or breakdowns and are equipped with booms, winches, and tools for diverse towing situations.
Rollback Tow Trucks: Ideal for safe vehicle transport without wear and tear, rollbacks excel in long-distance towing and moving disabled or damaged vehicles.
Heavy Wreckers: The go-to choice for heavy-duty towing needs, handling large vehicles like buses, semis, and construction equipment for recovery in challenging situations.

When you need any of these towing essentials, trust Commercial Fleet Financing to provide the cash and support you need to put your equipment to work faster with the best possible finance solution for your specific situation.

What’s The Financing Process Like with Commercial Fleet Financing?

Securing financing for a tow truck is a simple and streamlined process with Commercial Fleet Financing. Our process is designed to get you the equipment you need quickly so you can focus on growing your business. Whether you have great credit or bad credit, we evaluate applications based on several factors, enabling us to offer equipment financing options in a wide range of situations.

Our painless financing process involves:

Application: Completing our quick, user-friendly online application or connecting with our financing specialists.
Quick Review and Approval: Our team quickly reviews your application, considering factors such as personal or business credit history, time in business, and specifics of your equipment requirements to provide financing options that align with your needs and goals.
Financing Options: Upon approval, we present you with tailored financing options. Choose from a range of programs, terms, rates, and structures that align with your business goals and budget. Options may include competitive interest rates, quick disbursals, and flexible repayment terms.
Funding: Finalize the necessary paperwork after selecting the most suitable option. Once completed, your approved funds are disbursed, allowing you to acquire the equipment you need.
Ongoing Support: Our commitment extends beyond financing. We provide ongoing support, where a tow or wrecker finance specialist will address any questions or concerns you may have about your fleet financing needs.

With our streamlined process, you could be financed in as little as 24 hours!

Understanding Tow Truck and Wrecker Financing Options

When it comes to financing tow trucks and wreckers, it’s important to understand the various options available to find the solution that best fits your business needs. At Commercial Fleet Financing, we offer a range of flexible plans to ensure you can acquire the equipment you need without straining your cash flow. Here’s a closer look at the most popular financing options:

Financing with Loans

Tow truck loans are a straightforward financing option that provides the capital needed to purchase a tow truck outright. With this option, you borrow the full or partial cost of the truck and repay the loan over an agreed term, typically with fixed monthly payments. Once the loan is fully paid, you gain complete ownership of the vehicle.

This financing method is ideal for towing businesses looking for long-term asset ownership and willing to manage upfront costs like a down payment. Loans offer stability and predictability, allowing you to focus on growing your business without worrying about fluctuating payment amounts.

Benefits of financing with a tow truck loan include:

Fixed Monthly Payments for Predictable Budgeting: Tow truck loans typically come with fixed interest rates and consistent monthly payments, making it easier to plan and manage your cash flow. Knowing exactly what your payments will be each month allows you to allocate resources more effectively.
Ownership of the Vehicle After the Loan Term: One of the biggest advantages of loans is that, at the end of the loan term, you own the vehicle outright. Unlike leasing, which requires returning or renewing the agreement, loan financing ensures that your payments build equity in the truck, turning it into a long-term asset for your business.
Tax Benefits, Such as Depreciation Deductions: Owning your tow truck can offer significant tax advantages. Many businesses can claim depreciation on the vehicle as well as deduct interest paid on the loan, reducing the overall tax burden. Be sure to consult with a tax professional to understand how these benefits apply to your specific situation.

When considering a loan, it’s important to evaluate:

Down Payment Requirements: Most loans require a down payment, typically ranging from 10% to 20% of the vehicle’s cost.
Loan Term: Loan terms usually range from 24 to 72 months, with longer terms resulting in lower monthly payments but higher total interest costs.
Credit Requirements: While many lenders prefer good credit scores, some offer options for businesses with less-than-perfect credit, often at higher interest rates.

Financing with a Lease

Leasing is a flexible and cost-effective alternative to purchasing a tow truck outright. It allows you to use the truck for a set period, typically 2 to 5 years, without committing to full ownership. With a lease, you make regular payments for the use of the vehicle, and at the end of the lease term, you typically have the option to return the truck, renew the lease, or purchase the truck at a pre-determined residual value.

Leasing is an excellent solution for businesses that want to conserve cash flow or keep their fleet up-to-date with the latest equipment. Some benefits of financing with a tow truck lease are:

Lower Upfront Costs and Monthly Payments
Leasing generally requires little to no down payment, making it a more affordable option for businesses looking to minimize initial costs. Monthly payments are often lower compared to loan financing because you’re only paying for the use of the truck during the lease term, not the full purchase price.
Access to Newer Models with the Latest Features
Leasing allows you to consistently upgrade your fleet by providing access to newer tow truck models with the latest features and technologies. This is particularly beneficial in an industry where equipment reliability and efficiency can directly impact profitability.
Avoiding Long-Term Depreciation Concerns
Tow trucks, like all vehicles, depreciate over time. With a lease, you don’t have to worry about the long-term loss of value since you’re not committing to ownership. This can be especially advantageous for businesses that frequently replace or rotate their vehicles.
Flexibility at the End of the Lease
Leasing provides several options at the end of the term. You can choose which option works best for your business:
- Return the Truck: If the vehicle no longer meets your needs, simply return it to the leasing company.
- Renew the Lease: Continue using the same truck with an extended lease agreement.
- Purchase the Truck: Buy the truck at a pre-determined residual value if you decide it’s worth keeping for your business.

If you’re considering leasing a tow truck, keep in mind the following:

Mileage Limits: Some leases may have mileage restrictions, so it’s important to estimate your usage accurately.
Customization Restrictions: Leased vehicles typically have limits on modifications or customizations.
End-of-Lease Fees: Review terms for potential fees, such as wear-and-tear or mileage overages.

Why Choose Commercial Fleet Financing?

At Commercial Fleet Financing, we understand that your towing business relies on having the right equipment to get the job done. With over 20 years of experience helping businesses like yours, we’ve built our reputation on providing flexible, reliable, and customer-focused financing solutions tailored to the towing industry. Here’s why we’re the right choice for financing your tow trucks:

We Make the Process Simple and Fast

We know that time is money in the towing business, so we’ve streamlined our application and approval process to get you the funding you need quickly. Our simple application takes just minutes to complete, and most approvals happen within 24 hours. You can count on us to move at the speed of your business.

We Offer Competitive Rates and Flexible Terms

Our goal is to help your business succeed, which is why we provide some of the most competitive interest rates in the industry. We work with you to create a financing plan that fits your budget and business goals, offering flexible terms and tailored tow truck financing options to help you manage your cash flow while growing your fleet.

We’re Experts in the Tow Truck Industry

Financing tow trucks isn’t just something we do—it’s something we specialize in. We understand the unique challenges and opportunities in the towing business, and we’re here to provide personalized solutions that meet your needs, whether you’re expanding your fleet or upgrading your equipment.

We Finance Both New and Used Tow Trucks

Whether you’re looking to purchase a brand-new truck with the latest technology or a reliable used vehicle to save on costs, we’ve got you covered. We’ll work with you to secure financing that matches your specific needs, giving you the flexibility to build your fleet your way.

We’re Your Long-Term Financial Partner

Our relationship doesn’t end once your financing is approved. Whether you’re seeking tow truck financing or broader commercial truck financing, we’re here to support your business with guidance, additional financing options, and expert advice whenever you need it. You’re not just a customer—you’re a partner, and your success is our priority.

We Believe in Supporting Businesses of All Sizes

Whether you’re a startup towing company or an established business looking to expand, we provide financing options for businesses of all sizes. Even if your credit isn’t perfect, we’ll work with you to find a solution that gets you the equipment you need.

Ready to add your next tow truck to your business? Contact us today to kickstart your journey to a stronger, more efficient towing fleet.