Truck Financing’s Hidden Cost: Interest Can Add 21% to Purchase Price, FreightWaves Analysis Shows

Commercial truck financing can add 20% to 35% in total interest costs on top of a vehicle's purchase price, a FreightWaves analysis published June 5, 2026, warns, emphasizing that monthly payment figures obscure the true cost. A $65,000 loan at a 9% annual percentage rate (APR) over 60 months generates $15,940 in interest, an 21% premium, raising the all-in cost to $80,940. Extending the term to 84 months lowers the monthly payment to $1,031 from $1,349 but adds $5,664 more in total interest, demonstrating how chasing lower payments inflates overall obligations. Amortization front-loads interest, so early payments build equity slowly; selling or trading after two years often leaves an owner-operator owing more than the truck’s value, particularly as used Class 8 values have softened. The analysis advises comparing APR rather than stated rates and verifying the absence of prepayment penalties, which some specialty lenders still use.