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Commercial Vehicles
UCCU Commercial Vehicle Loans: Drive Your Business Forward
A Commercial Vehicle Loan is designed to provide your business with the essential transportation assets needed to operate, expand, and serve your customers effectively. This type of financing offers a fixed-term loan with a predictable monthly payment, allowing you to budget confidently while acquiring new or used vehicles crucial to your daily operations—from delivery vans and pickup trucks to specialized equipment. Investing in reliable commercial vehicles is an investment in your business’s efficiency, professionalism, and long-term capability, and UCCU offers competitive rates and terms to minimize your capital outlay.
We understand that acquiring commercial vehicles can be a significant capital outlay and that vehicle reliability directly impacts your revenue. That’s why UCCU offers competitive rates and flexible terms tailored specifically to the lifespan and intended use of business-grade vehicles. By choosing UCCU, you are partnering with a local lender that prioritizes your business growth, providing a streamlined application process and dedicated support to help you get on the road faster. Whether you are replacing old equipment or expanding a fleet, our Business Vehicle Loans are the straightforward financing solution your business needs.
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(801) 223-8188 | Branch Locations
Available M–F 8am–6pm, and Sat. 9am–2pm*.
*Saturday hours vary per Branch Location
Competitive Rates & Terms
Benefit from UCCU’s favorable interest rates and flexible terms (up to 7 years) to minimize your overall financing cost.
Fixed Payments for Budgeting
Secure a predictable, fixed monthly payment that simplifies your business budgeting and cash flow management.
Finance Essential Assets
Finance a wide range of vehicles, including delivery vans, light-duty trucks, passenger vehicles, and specialized commercial equipment.
UCCU Commercial Vehicle Loans are secured, meaning the vehicle itself serves as collateral. This structure often allows us to offer more favorable interest rates and terms compared to unsecured financing options. The specific loan terms—including the interest rate, required down payment, and repayment period—are influenced by factors like your business’s credit history, stability, the vehicle’s age, and its intended use. We provide financing for both new and used vehicles with terms available up to 84 months (7 years) for newer models.
Getting started is simple. Our UCCU Business Services Specialists are ready to guide you through the process, which focuses on documenting the financial health of your business, the value of the vehicle being purchased, and your ability to repay the loan. To ensure a smooth application, be prepared with key documents such as current financial statements, business tax returns, and the purchase agreement for the vehicle. Our goal is to provide a quick decision and efficient funding so you can put your new commercial asset to work for your business as soon as possible.
Frequently Asked Questions
What types of vehicles can be financed with a UCCU Business Vehicle Loan?
UCCU finances a broad range of vehicles used for business purposes, including passenger vehicles titled under the business name, work vans, pickup trucks, and other light-duty commercial vehicles. For heavier-duty or specialized commercial vehicles, we offer dedicated Commercial Loan products.
Are UCCU Business Vehicle Loans secured?
Yes, these are secured term loans. The vehicle being purchased serves as the collateral, which is standard practice and helps us offer competitive rates.
What is the typical repayment period for a commercial vehicle loan?
Loan terms are flexible and depend on the vehicle’s age and the loan amount. For newer vehicles, terms can extend up to 84 months (7 years). Older vehicles may have shorter maximum terms.
What kind of documentation is needed to apply?
You will generally need to provide your business organization documents (e.g., Articles of Organization, EIN), financial statements (P&L and Balance Sheet), business tax returns, and the purchase agreement for the vehicle. Personal information for all principal owners will also be required.
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