Freightliner manufactures heavy-duty trucks for wholesale transportation businesses. Using cutting-edge technology in the construction and design of their vehicles, this American company has a good reputation as a high-end fleet vehicle supplier. Whether you are just opening your trucking company or are looking to invest in better models to improve efficiency, Freightliner is a great place to start.
Key Points
- Freightliner financing is available from banks, alternative lenders, dealerships, and directly through Daimler Truck Financial.
- Financing options include traditional vehicle loans, business and equipment financing, and personal loans.
- Both new and used Freightliner trucks can be financed.
- Be sure to consider all costs associated with Freightliner financing, including interest rates, loan terms, and down payments.
Truck and Transportation Financing in Canada
| Amount | Interest | Term (months) | ||
 | $1,000 - $300,000 | Fee-Based: Starting at 9% | 12 - 60 | More Info |
 | $5,000 - $300,000 | 8% - 29% | 6 - 18 | More Info |
 | $5,000+ | 4.9% - 24.99% | 18 - 48 | More Info |
 | $5,000 - $250,000 | - | 3 - 18 | More Info |
 | Up to $300,000 | 8% - 22% | 6 - 12 | More Info |
 | $5,000 - $500,000 | - | 6 - 18 | More Info |
 | Up to $250,000 | - | - | More Info |
 | $5,000 - $100,000 | +6.87% | 3 - 18 | More Info |
Where Can You Finance A Freightliner Truck?
Chances are that you won’t be paying for the whole truck upfront since it is such a large investment. The good news is that there are a lot of available options for financing large trucks:
Bank Commercial Vehicle Loans
Many banks offer financing for commercial trucks, both new and used, but the options vary by lender. To qualify, you’ll need good credit, a stable income and potentially a hefty down payment. That said, you may qualify for financing up to 96 months.
Direct Manufacturer Financing
Freightliner’s parent company, Daimler Trucks North America, offers custom financing and leasing options through Daimler Truck Financial. The service provides an online calculator to help you estimate your loan payments before applying.
Several payment options are available, including balloon payments, seasonal payments that work with cash flow fluctuations, graduated payments, and full monthly payments.
Dealership Financing
Dealerships that sell Freightliner trucks may offer in-house financing options. This is a convenient option, as it allows you to finalize your truck purchase and financing arrangement in one spot.
Third-Party Providers
Some third-party financing providers, like Equipment Finance Canada, specialize in truck financing for both new and used Freightliner trucks.
Alternative Lenders
If you struggle with bad credit, an alternative lender may be able to help. These lenders don’t typically enforce the same strict loan criteria that banks do, so loans are easier to get approved for, whether you have good or bad credit.
How Much Does A Semi-Truck Cost In Canada?
The average cost of a semi-truck in Canada can range heavily depending on the make, model, features and whether you’re buying it new or used. While new trucks can easily cost a few hundred thousand dollars, a used one can cost a fraction of the price.
| What Are The Best Semi-Truck Brands in Canada? The top-rated semi-truck brands in Canada are as follows: Learn more: The Best Semi-Truck Brands in Canada |
Types Of Freightliner Trucks You Can Finance
Freightliner has a wide range of trucks, each designed to work best in certain situations. Depending on whether the trucks need to handle rough terrain, go long distances, or are being purchased for fuel efficiency, you will want a different model. Categorized below, there are quite a few options from which you can choose.
| Category | Purpose | Models |
| Highway | Long-haul transportation | Cascadia |
| Medium | City deliveries | -M2 106 Plus -M2 112 |
| Severe | Heavy-duty industries and construction | -114SD Plus -108SD Plus |
| Natural Gas | Lower emissions | -M2 112 Natural Gas -Cascadia Natural Gas |
| Electric | Zero emissions | -eCascadia -eM2 |
Costs To Consider When Financing A Freightliner Truck
Besides the actual loan amount you apply for when financing a Freightliner, certain factors play a direct role in the cost of your loan:
- Interest Rate: The rate you’re charged will determine how much you pay overall for Freightliner financing.
- Loan Term: Longer loan terms come with lower monthly payments, but higher interest paid overall. The opposite is true: shorter terms mean higher monthly payments, but less interest paid overall.
- Fees: Loan origination fees, late payment penalties, and other costs can add to the total loan expense.
Alternative Ways To Finance A New Or Used Truck
Besides a standard vehicle loan that’s used specifically to finance a truck, other financing options may be available:
Equipment Loans: These types of loans are used to help businesses buy equipment, including vehicles and machinery. The loan is secured by the vehicle, which reduces the risk for the lender and makes it easier to qualify for.
Personal Loans: Some lenders offer personal loans to cover the cost of a truck purchase. The funds from a personal loan can be used for many purposes, including buying a truck.
Home Equity Loans: If you’re a homeowner, you may be able to use a portion of the equity in your home to cover the cost of a truck purchase. Your home collateralizes the loan, so it’s at risk of repossession if you default.
What Factors Should You Consider When Choosing A Freightliner Truck?
Purchasing a truck for your business is a big decision. Before you make your choice, there are a few things to keep in mind, including the following:
Engine
The key to the proper function of any vehicle lies in a quality engine. Be sure that it is capable of supporting the demand placed on it. Look also at the transmission, since these two parts tend to be the most expensive to replace and are difficult to repair.
When the vehicle is outfitted with a good quality powertrain system, you can more easily rely on it over the long term.
Cab Type
Another important factor in finding the right Freightliner truck lies in the cab. Where the driver is seated, a good cab means accessible and reliable controls.
Ideally, it will offer a good amount of space and include powerful AC and heating. Depending on the purpose of the truck, you’ll want something that accommodates a sleeper in the back of the cab.
New Or Used
A used vehicle will come with a proportionately smaller price tag. However, if the mileage is too high, it can indicate issues with the engine. Wear and tear drastically impacts the efficiency of trucks, meaning it is often worth the added cost to purchase a new model.
Preventative Maintenance
All vehicles require a certain amount of preventative maintenance, and it’s helpful to familiarize yourself with the demands. This is especially true if you plan to buy an extended warranty. Ensure that preventative maintenance is reasonable and accessible.
Special Features
Finally, you’ll want to think about the bells and whistles. Whether you’re the driver or will be hiring someone, the comfort level offered by the truck can drastically impact morale. So, it helps to take a few extra minutes to consider things like heated seats, accessibility of adapters, and the amenities which make the vehicle more pleasant to operate.
Freightliner Truck Features
Freightliner is known in the industry for offering high-technology trucks that are built to last. Everything from the vehicle components to the special features is crafted with precise function and durability in mind. While there are some standard things that all trucks will have (tires, carburetors, etc.), Freightliner sets its trucks apart from the rest by going one step further.
By adding features to promote ease of function, both administratively and technically, you can more easily manage your fleet. Each of the trucks supplied by Freightliner offers a whole host of powerful features. These include:
Detroit Powertrain
This feature refers to the ability of the drivetrain system to work at high efficiency. All the parts are crafted to optimize performance. This reduces the need for maintenance and helps your business spend less on its fleet overall.
Important aspects of this feature include the high-end transmission system, power steering abilities, and quality craftsmanship of all the vehicle components.
Detroit Assurance
This feature refers to the safety components on the vehicles, such as the radar mounted to the bumper and an optional camera mounted to the windshield. The Detroit Assurance features operate in conjunction with all the major systems in the vehicle to prevent the risk of collisions.
Detroit Connect
This component allows the vehicle to convert the raw data it collects onto the road into relevant information. Meant to optimize the truck’s performance, it also gives you access to a remote technician who can diagnose vehicular issues.
Other Costs Of Owning A Truck
Owning and operating a truck comes with many other costs besides the purchase price, including the following:
- Fuel: Considering the weight of a Freightliner and the long distances typically travelled, fuel can make up a huge chunk of your budget.
- Insurance: Truck insurance is required to operate these vehicles on Canadian roadways. The cost of insurance premiums varies based on factors such as coverage amount, location, claims history, and driving record.
- Maintenance And Repairs: Trucks need to be regularly serviced to ensure they’re safe to operate. Further, unexpected issues that require repair can add even more to the cost of ownership.
- Licensing And Registration: Truck drivers are required to pay annual licensing and registration fees, which vary by vehicle type and province.
What Are The Requirements Of Driving A Truck?
Truck drivers in Canada are required to obtain the appropriate license depending on the specific type of truck they’re operating:
- Straight-Body Trucks: Class 3 or D driver’s license
- Long-Body Combination Trucks: Class 1 or A license
- Trucks With Air Brakes: Air Brake Endorsement needed
Other requirements are needed, such as the following:
- Be at least 18 years old or older
- Pass a medical examination and eye test
- Complete mandatory training
Mandatory Entry-Level Training (MELT)
Before obtaining their commercial driver’s license, truck drivers must complete a certified training program, known as MELT. This training is required by many provinces and territories. This training can last a few months and is comprehensive in nature.
Such training can be very expensive and may cost a few thousand dollars. If you’re looking to become a truck driver and need some financial assistance to cover the cost of training, you may be eligible for various financial assistance programs in your province.
Learn more: Can You Get Government Funding For An AZ License In Ontario?
Final Thoughts
Especially for transportation companies, finding a top-quality truck is really important. Freightliner has a proven track record of success in the market. Provided you do your research and find the best-suited truck, you can use the equipment to strengthen your business well into the future.
When it comes to cutting-edge technology and fuel efficiency, Freightliner is one of the best ways to go. The manufacturer features multiple models, each with features to improve functionality. With so many amenities to improve performance, the available trucks give you an edge over the competition. A truck should last for quite a long time, making it a worthy investment for transportation businesses. If you’re looking for the right financing to purchase a semi-truck for your business, Loans Canada can help.
