6 Best Trailer Financing Options Detailed (Including Bad Credit or No Credit)

Do you need a trailer but have bad credit and no cash? Trailer financing, bad credit options exist. Travel trailers, goosenecks, enclosed trailers, horse trailers, cargo trailers, dump trailers, and more. Here are six lenders who can help, regardless of your credit history: Capital Solutions, RockSolid Funding, RV Financing USA, Trailer Solutions Financial, BecksTrailerStore.com, and Worldwide Equipment Sales. Be sure to ask about associated fees and consider trailer insurance if you will be using your trailer often.

Things to Consider Before Buying a Trailer

How to finance a trailer depends a great deal on your plans for the trailer. For example, if you’re planning to use your trailer for a business or work, getting approval will require different information than if you want to use the trailer for personal use. Also, there are a number of potential hidden costs associated with owning a trailer, and it’s important to consider them before you make a purchase.

If your credit isn’t very good and you’re starting a business, many lenders will require your business information, bank references, and/or collateral. If you’re planning to use your trailer for personal use, most lenders will require you to show proof of employment or sufficient monthly income.

In most cases, your car insurance will extend to your trailer for liability coverage. According to the DMV, you’re not legally required to get trailer insurance, but having it might be a good idea if you plan to use your trailer often. If you’re ever in an accident involving your trailer, your car insurance won’t pay for repairs to your trailer — or to replace the contents within it — without trailer insurance. This could be especially hard to recover from if you can’t afford to make repairs out of pocket and you’re worried you might not qualify for a personal loan to fix the damage.

Also, keep in mind that in most states you’re required to register your trailer with the DMV within 30 days of purchase. Registration fees are not usually covered by a loan or lease, so you’ll have to pay out of pocket. Each loan or lease may also have specific fees associated with it — beyond the annual percentage rate (APR). Before you agree to a financing plan, it’s a good idea to ask about any fees.

Where to Finance a Trailer

If you’ve taken the above information into account and have decided to purchase a trailer, these lenders may be able to help, regardless of your credit history.

Capital Solutions

Financing available: Lease purchase^[1]
What you can finance: Commercial trailers, including dump trailers, as well as semi trucks and dump trucks; minimum loan amount of $8,000; you can use this loan for a commercial trailer bought at auction, from a private party, a local dealer, or online.^[2]
Credit score requirements: No minimum credit score; owners/operators pledge personal assets as collateral.^[1]
Fees: $300 commitment fee due when completing application^[3]
How to apply: Apply online or by calling (520) 827-8526. The most important part of getting approval is having enough collateral. Once this has been established, the approval process typically takes about 24 hours. It has a 94% approval rate.^[1]

RockSolid Funding

Financing available: Loan or lease
What you can finance: Almost any consumer or commercial recreation vehicle, including travel, enclosed, horse, and livestock trailers; minimum loan amount of $1,000; no maximum amount^[4]
Credit score requirements: RockSolid Funding requires a credit check but will work with low credit scores.^[4] Its minimum credit score requirement is 550.^[5]
Fees: APRs apply. Additional fees may vary by loan type. Administrative fees are waived for repeat customers.^[6]
How to apply: Online, you can fill out the loan application or the finance application. You can also call a specialist at (877) 703-1829 or fax your application to (800)471-4842.^[4]

RV Financing USA

Financing available: Loan
What you can finance: Camper and travel trailers;^[7] $10,000 minimum loan^[8]
Credit score requirements: RV Financing requires a credit check and a minimum score of 550. You must also provide proof of income.^[9]^[7]
Fees: APRs apply, as well as a possible down payment. A $495 document fee is due at the close of your loan. This is factored into payments.^[9]
How to apply: Apply online or by calling (855) 978-5626^[10]

Trailer Solutions Financial

Financing available: Loan
What you can finance: Any consumer or commercial trailer — utility, enclosed, hauler, horse, dump, etc.^[11]
Credit score requirements: Trailer Solutions requires a credit check and a minimum score of 530.^[11]
Fees: No cost to apply and no upfront fees; other fees vary by program and state.^[12]
How to apply: Apply online, by email, or via fax to (727) 498-0604. If you apply online, an agent will call you to help you complete the application process. Upon approval, funds can be released within 24 to 48 hours.^[12]^[13]

BecksTrailerStore.com

Financing available: Lease
What you can finance: Dump, flatbed, gooseneck, auto haulers, and many other consumer or commercial trailers^[14]
Credit score requirements: BecksTrailerStore.com requires a credit check but works with a wide range of credit. Employment verification is also required.^[15]
Fees: APRs apply. Interest rates vary by customer and by trailer.^[16]
How to apply: Apply online

Worldwide Equipment Sales

Financing available: Loan or lease
What you can finance: Business or commercial car carrier, dump, and equipment trailers^[17]
Credit score requirements: Worldwide Equipment Sales requires a credit check but will work with all types of credit.^[18]
Fees: You can use its financing calculator to determine what your annual interest rate may be.
How to apply: Apply online or print out an application and fax it to (815) 725-4400. Applications received during business hours are typically processed the same day.^[18]