Businesses all over Canada rely on semi-trucks to transport their products. Since these trucks often drive long distances through all kinds of roads and weather conditions, it’s important that buyers choose the right brands to avoid breakdowns and reduce as many costs as possible.
If you’re looking to buy a semi-truck that’s reliable and capable of tackling your day-to-day needs, keep reading to discover the best semi-truck brands in Canada.
Key Points
- If you’re looking to finance this expensive purchase, loan options are available from dealerships, banks, specialty equipment financing companies, and manufacturer finance arms.
- Some of the best semi-truck brands in Canada include Peterbuilt, Kenworth, Volvo, Freightliner, and International.
- These trucks are known for their powerful engines, innovative technologies, and an array of models in various classes.
What Are The Best Semi-Truck Brands in Canada?
Here are the 5 top-rated semi-truck brands in Canada:
#1 – Peterbilt
Based out of Denton, Texas, Peterbilt has been supplying North America with commercial trucks for more than 80 years. While they offer several classes, their heavy-duty trucks, such as their diesel-power engines, tend to be the most popular models and are often praised for being safer and more trustworthy than other makes.
Features Peterbilt Trucks Are Known For
- Powerful Engines: As a subsidiary of PACCAR, most Peterbilt semi-trucks are equipped with a 13-litre, 500-horsepower engine that can crank out up to 1850 Nm of torque.
- Electric Options: At the moment, you can find three electric Peterbilt truck models – 579EV, 520EV, and 220EV – which can help reduce emissions and fuel costs.
- Accommodations: Over-the-road truckers can rest easier and save on fuel with Peterbilt’s SmartAir feature, which keeps their sleeping cabin cool and well-ventilated at all hours.
- Mechanical Alerts: Most Peterbilt models also feature a smart remote diagnostics system that alerts the driver to and even helps fix various mechanical issues.
- Long Lifespan: They have the longest average truck life of any other brand
- Resale Value: Most models have a great resale value and warranties
#2 – Kenworth
Since 1923, Kenworth has been engineering some of the world’s most highly rated Class 8 trucks. Based in Kirkland, Washington, they are also a subsidiary of PACCAR, so their trucks come with many of the same internal features and parts as those made by Peterbilt, allowing for smooth and comfortable cross-country drives.
Features Kenworth Trucks Are Known For
- Low-Emission Models: Recently, Kenworth formed a partnership with Toyota to create Class 8 truck models powered by hydrogen fuel cells to reduce emissions.
- Innovative Technology: Most new models feature a top-tier multimedia infotainment and navigation system, so the driver won’t get bored or lost during a long-haul road trip.
- Robust Powertrain: Innovative powertrain technologies from PACCAR, and stainless steel parts, help their trucks hold up under all types of weather and road conditions.
- Efficiency: Their Driver Assistance system ensures truckers will get where they’re going with less idling and fuel consumption, and can even help improve their driving habits. They’re also more aerodynamic and fuel-efficient than a lot of other trucks
- PACCAR Parts: Like Peterbilt, they contain the best PACCAR engines and parts on the market
- Long Lifespan: They also have one of the longest average truck lives and resale value
- Towing Power: Certain models have far more towing power than other brands
#3 – Volvo
Although they produced their first truck in 1928, Volvo didn’t reach the North American truck market until 1959. However, that hasn’t stopped them from becoming one of the leading truck brands in Canada and the rest of the world, snatching up over 13% of the market in 2019. Their slick Swedish truck designs have truly become hard to beat.
Features Volvo Trucks Are Known For
- Luxury Features: Most notably, Volvo semi-trucks are renowned for their luxurious construction, comfortable sleeping quarters, and extra amenities, such as reclining bunks.
- Fuel Efficiency: The VNL model’s aerodynamic design and turbo compounding can help you save as much as 7.5% in fuel. Many Volvo models are now electric too.
- Technology: I-Shift technology uses smart electronics to help the driver switch gears effortlessly, and monitor the truck’s grade, speed, engine load, and weight.
- Safety: Volvos are among the safest semi-trucks on the road. In fact, they invented the three-point seatbelt and safety cab. They were also the first truck company to make ABS brakes and airbags standard to their designs.
- System Monitoring: The Fleet Management system allows fleet owners to monitor their trucks 24/7
#4 – Freightliner
Freightliner, a division of Daimler Trucks North America, has been making different sized commercial trucks for over 75 years and their origins can be traced back to 1929, where they started as a semi-tractor company in Portland, Oregon. Currently, they are the most popular semi-truck brand in the U.S. and are now expanding across Canada.
Features Freightliner Trucks Are Known For
- Robust Powertrain: All trucks are equipped with an Integrated Detroit Powertrain, one of the best and most efficient powertrains on the market, making each truck a pleasure to drive.
- Fuel Efficiency: The sleeper and day cab models can run on natural gas, making them cleaner and more fuel-efficient than trucks that are powered by diesel fumes.
- Safety: Safety features include a camera mounted on the windshield and a radar system installed on the bumper, allowing better uptime rates and fleet monitoring.
- Flexible Maintenance: Manufacturers offer Preventative Maintenance Plans, which provide routine inspections and maintenance that can be scheduled around your needs.
- Road Handling: Detroit products give them better steering and handling than other trucks
- Vast Dealership Network: They have one of the largest dealer networks in North America
- Wide Range Of Models: They offer a broader range of truck grades than other brands.
- Relative Affordability: Generally, their models are some of the cheapest on the market
#5 – International
The Navistar International Corporation is one of the longest-running commercial truck brands in North America, dating back to 1902. They are also a popular producer of motorhomes, step vans, and school/commercial buses. Additionally, Navistar engineers some of the best engines available for Class 5 and 6 trucks.
Features International Trucks Are Known For
- Strong Engine: The International Lonestar was designed in part by Harley-Davidson and comes with a 15-litre, 608 horsepower engine (one of the strongest on the market).
- Wide Availability: Their trucks, parts, and products are sold by more than 60 dealers in 90 countries worldwide, including Canada, the United States, Mexico, and Brazil.
- Safety: Newer models are equipped with their Diamond Logic security and diagnostics system, which has almost 200 different safety and efficiency features.
- Wide Range Of Models: Many different classes and customizations are available, so you can build your own truck if you prefer something more than a basic factory model.
How To Choose The Best Semi-Truck In Canada
Before choosing a semi-truck to buy or lease, it’s essential to do some advanced research. Don’t just rely on word of mouth. Take time to compare a few different brands and consider all the most relevant details, including but not limited to:
- Overall Cost
- Fuel Type (diesel, electric, etc.)
- Gas Mileage
- Engine Type & Size
- Towing Capacity
- Electrical & Mechanical Issues
- Safety Concerns
- Internal & External Design
- Repairs & Maintenance
Where Can I Get A Truck Loan In Canada?
Several loan types and lender options are available to help you finance the purchase of a semi-truck:
Traditional Bank Loans
Canada’s big banks, like BMO, RBC, TD, CIBC, and Scotiabank, and credit unions offer traditional bank loans. Like a standard car loan, a truck loan provides you with a lump sum of money to pay for the vehicle, then the loan is repaid via installments over time.
Traditional banks offer competitive rates compared to non-traditional lenders. However, they require good credit and high income.
Bank Equipment Loans
An equipment loan is used specifically to buy expensive machinery, vehicles, or other assets needed for businesses to run their operations. The equipment serves as collateral for the loan, making it a secured financing option.
Commercial Leasing
Another popular option for buying semi-trucks in Canada is commercial leasing. This option offers flexibility and often requires a lower upfront payment. With a lease, you can trade in your semi-truck every couple of years and get a new one. However, there are restrictions with mileage and customization.
Alternative/Private Lenders
If you have bad credit, you may consider getting a loan from an alternative or private lender. These lenders are not federally regulated, and therefore have more flexibility in terms of loan criteria that borrowers must meet.
Dealership Financing
Many truck dealerships either have their own in-house financing or are partnered with different lenders. For instance, if you’re buying a Kenworth truck, you can apply for financing directly through PACCAR Financial, which provides loans and leases for this truck brand.
Otherwise, you can apply for a standard truck loan through your dealership and work with their lender partners.
Can I Use A Personal Loan To Buy A Semi-Truck?
While you can technically use a personal loan to buy a semi-truck in Canada, it may not be a good idea. That’s because semi-trucks are typically quite expensive, often costing hundreds of thousands of dollars. Personal loan amounts usually max out at about $50,000, which isn’t enough to buy a semi-truck in many cases.
However, if you’re able to find a used semi-truck for under $50,000, a personal loan may be something to consider.
Can I Get A Loan To Repair My Semi-Truck?
It can be very expensive to repair your semi-truck when it needs some attention. But these repairs can be quite costly, with estimates of annual maintenance and repairs for a semi-truck sitting around $20,000.
Fortunately, truck repair loans may be available to help cover these expensive repairs. Essentially, a truck repair loan is a type of financing that’s designed to help with the repair and maintenance of commercial vehicles. They’re available to fleet owners, independent operators, and others who require financial assistance to pay for the repairs of their truck.
Here are a few financing options available:
- Equipment Financing Loans: Equipment financing loans let you use your truck or other equipment as collateral to help pay for maintenance and repairs. To be eligible, the value you have in the equipment should be greater than the cost of the repairs.
- Small Business Term Loans: Small business term loans can be a great way to borrow more money while keeping your monthly payments lower. Generally, lenders will offer loans up to twice what your business earns in a month. The interest rate and loan length will depend a lot on your business’s credit history.
- Merchant Cash Advances: A merchant cash advance provides quick funding to businesses by advancing money based on future credit card sales. These advances typically last 6 to 12 months, and repayments are made every business day.
- Factoring: For businesses facing delays in collecting accounts receivable, partnering with a factoring company can provide quick access to funds. The factoring process involves selling accounts receivable to a third party in return for a lesser cash amount.
Learn more: Truck Repair Loans
Final Thoughts
If you’re looking for a top semi-truck in Canada, check out brands like Peterbilt, Kenworth, Volvo, Freightliner, and International. These brands are known for durability, reliability and efficiency. But given their high price, funding is usually a necessity. Fortunately, several loan options are available, depending on your needs and financial profile. If you’re looking for a lender to help finance your truck, do some comparison shopping using an online comparison site, like Loans Canada.
Semi-Truck FAQs
What are the best semi-truck brands in Canada?
How do I finance a semi-truck in Canada?
Can I get a semi-truck loan with bad credit?
Is leasing better than buying a semi-truck?
What factors affect semi-truck loan approval?
