Semi truck payment calculator
Enter the price, down payment, rate, term and any balloon. You get the monthly payment, what it means each week, and the total interest over the loan.
By Gustavo · Updated October 2026
MONTHLY PAYMENT
- Financed
- $105,000
- Total interest
- $25,778
- Per week
- $503
$503 a week has to come out of every week's loads, busy or slow. Steady loads make the payment predictable.
How the payment is calculated
Payment = (L - B / (1 + r)^n) x r / (1 - (1 + r)^-n)
- L is the amount financed: price minus down payment.
- r is the monthly rate: APR / 12.
- n is the number of monthly payments.
- B is the balloon due at the end (0 if none).
Total interest = (payment x n) + balloon - amount financed.
Worked example
EXAMPLE
- Price
- $120,000
- Down
- $15,000
- 9% APR, 60 months
- $105,000 financed
- Total interest
- $25,778
- Per week
- $503
Add a $30,000 balloon and the payment drops to about $1,782 a month. Total interest rises to about $31,913, and $30,000 is still due at month 60.
Good and bad results
The payment is a fixed cost. It's due in a slow week the same as a busy one. Divide it by the miles you expect to run in a month to see its share of your cost per mile.
- Under a few hundred dollars a week leaves room for slow weeks and repairs.
- A payment that only works in a strong market is a risk. Plan for the slow months.
- Long terms on old trucks can leave you paying for a truck that needs a major repair before the loan ends.
Questions to ask the lender
- Is the rate fixed? Is there a prepayment penalty?
- Is there a balloon, and what happens if you can't pay it?
- What fees are added to the amount financed?
- Is insurance or a warranty required, and is it bundled into the payment?
Lease or loan?
A lease can have a lower payment and fewer repair surprises if maintenance is included, but you build no equity and mileage caps can bite. A loan costs more each month on a newer truck, and the truck is yours at the end. Lease-purchase programs through carriers are a different deal again: read who sets the loads, the rate and the payment before you sign. Whatever you pick, enter the real numbers here and compare the weekly cost.
The payment in cost per mile
At 2,500 miles a week, a $2,180 monthly payment is about 20 cents a mile. At 1,500 miles a week, it's about 34 cents. Fewer miles makes every fixed cost heavier per mile, which is why the truck sitting for a day costs more than it looks.
Making the payment every week
A truck payment is easier when the truck rarely sits. We find loads, plan reloads and negotiate rates so the weeks stay full. You approve every load, and the rate confirmation comes straight to you. See rates and fees, or run a load against your costs with the car hauler load profit calculator.
Questions about this calculator
Q01How is a truck loan payment calculated?
With the standard amortization formula: the amount financed, the monthly rate (APR / 12) and the number of months. A balloon lowers the monthly payment because part of the balance is paid in one lump at the end.
Q02What is the average semi truck payment?
It depends on the truck's price, your credit, the rate and the term, so a single average doesn't help much. Plug in your own quote. A $105,000 balance at 9% over 60 months is about $2,180 a month.
Q03Should I take a loan with a balloon payment?
It lowers the monthly bill but costs more interest in total and leaves a large payment at the end. It can work if you plan to refinance or sell the truck before the balloon is due. Have a plan for that day before you sign.
Q04Can I use this as a refinance truck loan calculator?
Yes. Enter your current balance as the price, zero down and the new rate and term. Compare the new payment and total interest with what's left on your current loan.
Q05Does this work for box trucks, pickups and trailers?
Yes. The math is the same for any truck or trailer loan or lease with a fixed rate.