In Scarborough, truck and equipment financing typically runs 0%–10% down on approved credit with 36–72 month terms. Many complete files are decided within 24–48 hours, though some take longer. The east end's mix of small manufacturers, contractors and courier fleets means straight trucks, cube vans and day cabs are financed here as often as highway tractors.
*Approval times vary. Many files are decided within 24–48 hours, but some take longer depending on the lender, the complexity of the application, and any additional documents required. All financing is subject to credit approval.
Scarborough's freight looks different from the 401 long-haul picture. The industrial pockets along Markham Road, Progress and Warden support small manufacturers, food distributors, trades and courier operations, and a lot of that work is short-radius, multi-stop and city-bound. That changes what you buy — and how a lender should structure it.
What financing looks like in Scarborough
Down payments generally land between 0% and 10% on approved credit, terms run 36–60 months on used units and up to 72 on newer equipment, and many complete files are decided within 24–48 hours — though some take longer depending on the lender, the complexity of the application and any additional documents required. These are ranges, not quotes; rates and terms vary by applicant, equipment and lender, and financing is subject to credit approval. Ontario's 13% HST applies to the purchase.
Straight trucks, cube vans and day cabs
Not every commercial file is a sleeper tractor. Delivery and trades work runs on cube vans, straight trucks with power tailgates, and day cabs that can handle tight downtown-adjacent streets. These units are financeable through the same commercial truck financing programs, but resale values and useful life differ, so the term should match how long you'll actually keep the unit rather than defaulting to the longest available.
The documents Ontario lenders expect
- Government-issued photo ID
- Articles of Incorporation or Ontario business registration
- Recent business bank statements
- The unit's invoice or bill of sale
- Proof of insurance
If you hold delivery contracts or subcontract regularly for a general contractor, bring the paperwork. Recurring work from a named customer strengthens the file more than a strong month of deposits.
Small fleets and multiple units
A three-van courier operation and a two-truck contractor have the same problem: applying for each unit separately eats time. A pre-approved equipment line of credit sets your limit in advance so you can add capacity as contracts come in.
Match the term to how long you'll keep the unit. A five-year payment on a truck you'll replace in three is an expensive habit.
Schedule a free consultation
A short call with an advisor who funds Scarborough-area operators. No obligation.
Apply for financing
Start online — many pre-approvals come back within 24–48 hours.
Buying a used cube van or straight truck privately? That's financeable through private sale financing — arrange a lien search and inspection, since lenders scrutinise private paper more closely.
How to move faster
Gather documents before you shop. Put your recurring work, expected revenue and operating costs on one page. Disclose credit issues early. And get pre-approved so you can commit the day you find the right unit.
Frequently asked questions
How much down payment do I need in Scarborough?
Most Scarborough deals land between 0% and 10% down on approved credit, depending on credit, time in business and the unit.
Can I finance a cube van or straight truck?
Yes. Delivery and trades vehicles are financed through the same commercial programs as tractors, usually on shorter terms that match their service life.
How fast is approval?
Many files are decided within 24–48 hours once complete, though some take longer depending on the lender, the complexity of the application and any additional documents required.
Can I finance more than one vehicle at a time?
Yes — a pre-approved equipment line of credit is often the cleaner route for small fleets adding units through the year.