Peters entered the Craftsman Truck Series in 2005 with Bobby Hamilton Racing, driving the No. 4 Dodge and recording two top-ten finishes in sixteen starts. He returned to the same truck for most of 2006, earning one top-ten at Milwaukee before leaving the team in September to join Richard Childress Racing. At RCR he shared Busch Series duties in 2007 before being released. He made two Truck starts that season for Morgan-Dollar Motorsports, posting a ninth at Martinsville.
After a further Martinsville appearance for Morgan-Dollar in 2008, Peters co-founded Premier Racing and drove a limited schedule. Two consecutive top-tens at Daytona and California early in 2009 put the small team fourth in owners' points. Peters then moved to Red Horse Racing mid-season, and on October 24, 2009, he claimed his first Truck Series victory at Martinsville Speedway.
Peters returned to Red Horse full-time in the No. 17 in 2010, winning the season-opener at Daytona after passing Todd Bodine on the final lap. He added his third career win at Lucas Oil Raceway at Indianapolis in 2011 and finished fifth in points that year.
In 2012 he won at Iowa and at Bristol in a flag-to-flag victory. He repeated the Iowa win in 2013 and added another at Las Vegas. The 2015 season was his most prolific, producing five victories: Talladega (from the pole), Phoenix, and three others, representing more wins than Peters had accumulated in his entire career to that point. Despite the five wins, he was eliminated from the inaugural Truck Series playoffs at the championship round and finished fourth in points.
Red Horse Racing closed down in May 2017 following the Charlotte race due to lack of sponsorship, leaving Peters and teammate Brett Moffitt without rides mid-season. At the time of the shutdown Peters was sixth in points. He ran the remaining portion of 2017 for MDM Motorsports and Young's Motorsports, posting a notable result of tenth at Homestead.
Peters joined RBR Enterprises for 2018 and won at Talladega after avoiding a last-lap crash involving Noah Gragson. He also made his Monster Energy NASCAR Cup Series debut in April 2018 at Talladega, driving the No. 92 RBR Ford and finishing twenty-third. After Red Horse's closure, he ran for several smaller operations including GMS Racing and Niece Motorsports.
In January 2021, Peters signed with Rackley W.A.R. for the Camping World Truck Series season but departed the team in June after ten races. He has not competed in NASCAR since.
Peters won at least one Truck Series race in six consecutive seasons from 2009 through 2015, a run that established him among the more dependable race winners of the Red Horse Racing era. His ten career Truck victories came at a variety of tracks including Daytona, Indianapolis, Iowa, Bristol, Las Vegas, Talladega, Phoenix, and Martinsville.