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Camino Financial
By: camino-financial
Read in 14 minutes

Business Auto Loans

Are you seeking the perfect business auto loan? Our vehicle financing can help you to reach the funds you need to grow your business.

Lenders like us take a straightforward approach to lending. We keep our business loan requirements lenient while matching the best financial product to your specific business needs.

Depending on the loan type, you can get funding in amounts from $5,000 to $400,000.

Apply now!

What Is A Business Auto Loan?

They are affordable financial products that allow business owners to buy business vehicles (from cars to trucks).

Some lenders use the vehicle itself as collateral, which might result in lower rates, but the risk of losing the vehicle if they default on the payment.

At Camino Financial, we don’t want you to put your vehicle at risk, that’s why we don’t ask for any type of collateral.

Loan terms, rates, and requirements vary per lender. One lender may finance 100% of the vehicle’s retail value while someone else requires a specific down payment based on the business’s credit and financial histories.

The borrower makes monthly payments that include the principal, interest, and fees. In most situations, borrowers may have up to 60 months to repay the loan.

How Small Business Auto Loans Work

Once a business owner sets a budget, reviews their personal and business credit, and chooses the type of vehicle they want, they compare lender requirements. Lenders may require the vehicle to have a minimum value, age, weight, and mileage.

To increase your chance of being approved for a commercial vehicle loan, make sure that you meet the requirements set forth by your preferred lender.

Business auto loan proceeds are restricted to purchasing a vehicle or refinancing one for work-related activities such as transporting equipment, visiting clients, using the vehicle to complete a specific task, and other uses.

How Do I Know If A Business Auto Loan Is For Me?

Many businesses can use auto loans to fund their specific needs. Here are some examples:

Business Owners

Pickup trucks, cars, vans, and other vehicles can all be used for commercial purposes.

Personal Drivers

Caterers, florists, and bakeries can purchase a vehicle to make deliveries.

Startup Transport Business

With a truck or auto, you can transport people or goods.

Trucking Companies

You could invest in a heavy truck to pull a flatbed, or a refrigerated container to transfer food products.


Rather than stay an employee, you can purchase your own rig and become your own boss.

Tow Truck Services

Many tow truck owners get paid by insurance companies to provide this service, but they need the correct vehicles. A loan can give you the capital needed to buy them.

Food Truck Companies

A well-planned food truck is the mainstay of a mobile food business.

Car Rental Companies

To meet public demand, car rental businesses need small and larger vehicles with a variety of features to suit preferences.

Moving Companies

You may need several trucks to accommodate small or large moves and get more clients.

Taxicab Companies

You can start your own taxi company by buying a car or investing in a larger fleet to expand your operations.

Limousine Operators

You may want to purchase a newer stretch limo to accommodate weddings, parties, and other social event participants.

orange car illustration
Get a loan

Our Business Car Loan Requirements

Camino Financial is a suitable financing option for numerous types of businesses because our business loan requirements are less strict than traditional business auto loan providers.

To qualify for small business loans through Camino Financial, your business should be active and registered for at least nine months and generate sales of $30,000 annually or $2,500 a month.

We offer different business vehicle loans amounts in different sized that amounts up to $400,000. We can provide funding for one vehicle or a fleet of autos and work with clients to find the right loan for their business needs.

Startup Loans

Amount$1,500 to $7,500
Type of paymentMonthly
Repayment terms12 to 36 months
Annual interest rate33% to 35% (APR)
Type of rateFixed
Origination fee$90 in California, $0 in Florida (included in the APR)
  • monthly income of $1,500
  • have a bank account that’s been active for at least 6 months

*Our startup loans might not be available everywhere.

Learn more about our startup loans



Amount$5,000 to $30,000
Type of paymentMonthly
Repayment terms24 to 36 months
Annual interest rate28.50% to 57%
Type of rateFixed
Origination fee6.99% of the amount
  • monthly revenue of or $2,500 (or $30,000 per year)
  • have an active and registered business for at least 9 months

Learn more about our microloans


Small Business Loans

Amount$10,000 to $400,000
Type of paymentMonthly
Repayment terms24 to 36 months
Annual interest rate21.75% to 27.5%
Type of rateFixed
Origination fee5% of the amount
  • monthly revenue of or $2,500 (or $30,000 per year)
  • have an active and registered business for at least 9 months

Learn more about our small business loans


Apply today!

How Much Do You Need? Use Our Commercial Auto Loan Calculator

If you don’t know how much your business can afford, you are welcome to use our loan calculator.

Enter how much you want to borrow, and your preferred terms to get the approximate APR for your loan. Keep imputing data to come up with a payment amount that your business can repay comfortably.

Term Loan Calculator


Best Uses For Business Auto Financing

As your company grows, so do your needs. When you get business vehicle financing, you have the capital to make different investments.

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Improve Your Current Company Car

A pickup truck may have sufficient space to pick up supplies or make deliveries until your business expands and you need more space.

Then you’ll need a larger vehicle.

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Purchase A Company Car

A company car is a business asset and you can deduct the depreciation, interest paid, insurance, and auto repair and maintenance costs as business expenses.

That’s why it’s a great idea to buy one.

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Buy A Fleet Of Vehicles

As your business grows, you may need more vehicles with special features to conduct your operations.

Buying a new fleet of vehicles for a small business with a loan is the ideal solution to support your business in its growth.

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Refinance An Existing Vehicle

Auto loans for business owners are an economical way to reduce your current payment on a vehicle you currently own.

It also allows you to increase your business’s cash flow.

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Lease A Business Car

Depending on the commercial car distributor, repairs are covered for leased vehicles, so you don’t have repair and maintenance bills.

For the most part, auto lease payments are normally lower than buying a vehicle, and the payments are a business expense.

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Buy A Commercial Truck

These trucks are convenient for loading, unloading, and picking up merchandise to save you time and money.

Because they’re bigger, you can haul more and take the same tax deductions you do for a smaller truck.

How to Apply for a Commercial Car Loan

illustration of man sitting on a pile of money

1. Fill Out And Submit The Application

Our 10-minute online loan application is simple and requires basic personal and business information.

Plus, it doesn’t affect your credit score.

2. Wait To Hear From Us

Just send us requested documents such as business financial statements.

We have the best business auto loans due to our safe and secure system that allows you to keep your data private

3. Accept The Final Loan Terms

Once we approve your business auto loan application, we send an electronic copy of the loan agreement for you to review and return.

4. Receive The Loan Proceeds

On average, we deposit money into your business bank account within 2 business days.

*The process may differ slightly based on which loan you qualify for.

Get a Quote

Benefits Of Getting An Auto Loan For Business

  • Tax deductions. Business owners can reduce their tax liability by taking allowable business-related auto tax deductions.
  • Business growth. Vehicles can be used for travel, selling/delivering your products and services, and for numerous other uses.

Commercial Auto Loans Vs. Business Auto Leasing

When you purchase a vehicle and make payments, it’s yours until you sell or trade it. With a lease you still make payments, but you don’t own the car.

Commercial auto loans are usually better than getting a car lease because you can drive as many miles as you want. With leasing, most lenders restrict the borrower as to how many miles they can drive.

They pay from $.15 to $.30 for each mile that exceeds the maximum allowable miles.

With an auto loan, you can make improvements but with a lease, a borrower pays fees and faces termination of the agreement if they change the car’s appearance. Plus, business loan interest rates are very competitive and can end up being cheaper than a lease.


In addition to this article, Camino Financial offers a library of information relating to business finances. Feel free to review this content at your leisure to learn more:

Interest Rate Hike 2022: The New Average Business Loan Rates

How to Find Angel Investors: Learn From the Experts

The Best Trucking Business Loans 

How to Get Financing for a Business: Best Ways in 2022



How do I finance a car through my business?

Take into account that some California finance lender loans will ask you for a personal guarantee or having a business checking account, pay attention to the requirements, and choose the best suits your needs.

Once you choose the best, complete an application and submit the information the lender requires. If you meet the specific lender requirements, you should be approved for the loan.

Does a business auto loan show up on personal credit?

If you purchased an auto loan using your business credit and history, the lender reports your payment to one or all three of the major credit bureaus.

If you signed a personal guarantee, it may show up on your personal credit history should you miss a payment.

What business credit score do you need to buy a car?

It depends on the lender; some business vehicle finance requirements ask for a business score ranging from 0 to 100. A score over 80 is what lenders like to see.

Can you use a business line of credit to buy a car?

Check with your lender first to verify that there are no restrictions on how to use the funds. However, your line of credit must be large enough to cover the purchase price of the car with a balance left over to cover unexpected expenses.

If you can’t pay off the balance each month, you pay interest on the amount owed.

Can I get an auto loan for my small business?

As long as your business meets the lender requirements for a business auto loan, you should qualify.

How do I get a car with business credit?

Your business financial and credit histories must indicate that you can make monthly payments and repay the loan.

What banks finance commercial vehicles?

Loans are available from traditional banks (both online and in-person) and online lenders. And if you are asking for a commercial auto loan for a new business, the process should be the same.

What are the differences between a consumer auto loan and a commercial auto loan?

A consumer auto loan is a loan that is taken out by an individual to purchase a car. Commercial vehicle loans, on the other hand, are loans that are taken out by a business to purchase a car.

*Terms and requirements subject to change without notice.

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