Equipment loan calculator
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Full disclosure below.
I built this so you can see what new equipment really costs before you sign. Enter the price, your down payment, the rate, term and any fee. I'll show the monthly payment, total interest and real APR. Then hold the payment up against a slow month. That's the real test.
Your numbers
Defaults are examples, not quotes. The fee is an upfront fee, paid at closing or taken from the loan, not added to it.
Illustrative estimate, not an offer.
Want a real person to look at your numbers?
Leave your email and phone. If it fits, a specialist will reach out. It's free, with no obligation.
Questions owners ask
How do I calculate an equipment loan payment?
Take the amount financed, the monthly rate and the number of months, then use standard amortization. A balloon lowers the payment but leaves a big bill at the end.
How much down payment do I need for equipment?
Often 0% to 20%, depending on credit, time in business and the equipment. More down means a smaller payment.
What are typical equipment loan rates?
They vary a lot with credit and the equipment. Use the APR on your offer, and compare offers on effective APR, not the headline rate.
Is it better to lease or buy equipment?
Leasing keeps the payment low and fits gear that ages fast. Buying costs less over time for gear you'll keep. Turn on the lease compare above. More in leasing vs buying.
Does this work for heavy or construction equipment?
Yes. The math is the same for trucks, excavators or ovens. Equipment with a longer life often gets longer terms.
Can I write off equipment?
Section 179 may let you deduct the cost in the year you buy. Ask your tax pro. This tool doesn't do tax math.
Will my real offer match this?
Maybe not. This is an estimate. Partners decide rate, term, fees and amount.
More to read
Estimates only. Partners decide approval, rate, term, fees and amount.
How we make money
Lending Gurus compares options and doesn’t lend. We may earn a referral fee when you apply through our links, but no lender pays for a review or a score, and partner status never changes one. Advertiser disclosure.