Small fleets turn to repair financing as used truck costs climb
Small fleets are moving away from buying trucks and instead taking out 60‑, 90‑ and 180‑day repair loans, according to National Funding CEO Dave Gilbert. Repair financing has become the top request among small fleet customers as rising used truck prices, insurance, fuel and maintenance costs make new equipment purchases financially untenable.
National Funding offers working‑capital loans with a maximum term of one year, while its used‑truck financing typically runs three to five years. Qualification requires a one‑page application and bank cash‑flow data, and some clients have taken out more than 40 loans over their relationship with the lender. The company also notes that AI tools such as Claude are being used by operators to stress‑test financial assumptions before seeking financing.
“Repair is probably the number one right now,” Dave Gilbert said.
“If you know you’re not gonna buy new vehicles for the foreseeable future, then take care of what you have, make sure you’re working with reliable vendors, and downtime always kills you,” Dave Gilbert said.
Previously, small fleets relied on multi‑year equipment financing to expand their operations during periods of growth, and National Funding has financed trucking and transportation businesses for nearly 30 years.
What we know
National Funding has financed trucking and transportation businesses for nearly 30 years.
Working capital loan demand is concentrated in 60‑, 90‑ and 180‑day bridge loans.
National Funding typically offers three‑ to five‑year terms on used trucks (and longer on new equipment).
Working capital loans carry a one‑year maximum term.
Some National Funding clients have taken out more than 40 loans over their relationship with the company.