The new video released by the Raleigh Fire Department shows the driver going too fast around a corner, causing Ladder 4 to overturn.
The accident happened on Dawson Street July 10.
Chief John McGrath blames the crash on human error and speed.
"The driver was going 25-30 mph when he decided at the last minute to turn. He was clearly going too fast to make the turn," McGrath said.
None of the four firefighters on board was seriously injured.
"The accident could've killed one of our firefighters and citizens in the area. We got very lucky," McGrath said.
A red light camera stationed on Dawson Street shows the truck heading south when it makes a quick turn to the east. There was a driver in the rear of the truck when it flipped over.
It's a tiller truck, which has two drivers - one in the front and one in the back. Because of the dual operation, the drivers must be in constant communication. It also means that the drivers have to do the opposite of one another while driving.
Another camera from a city bus captures the truck making the turn, leaving skid marks, and flipping over.
McGrath would not say whether any firefighters faced disciplinary action for the accident - saying he would not comment on a personnel matter.
He says the accident will be used in firefighter training.
While no lives were lost the accident, it could be a big financial loss to the city. The ladder truck costs $750,000 and the chief says it's too badly damaged to repair.
The city will see how much money comes from insurance before deciding if it can be replaced.