Yes, you can take a loan out on your semi truck through a truck title loan. As long as you own the truck outright and have a clear title in your name, you can use it as collateral to secure a loan. The lender will assess the value of your semi truck to determine the loan amount, which typically ranges from 25% to 50% of the truck’s value.
This process allows for quick access to funds, even if you have poor credit, making it a viable option for truck owners in need of fast cash.