Equipment Financing Calculator
Equipment loans and finance leases spread the cost of machinery, vehicles or technology over its working life. Enter the cost, down payment, rate and term to see the payment and what the equipment costs in total.
Enter your figures below. Results update as you type.
Monthly payment$1,477.19
- Equipment cost 83%
- Interest 17%
- Down payment
- $8,000.00
- Amount financed
- $72,000.00
- Total interest
- $16,631.42
- Total cost
- $96,631.42
How the Equipment Financing calculation works
Payment = (financed - balloon / (1 + i)^n) x i / (1 - (1 + i)^-n)
$80,000 of equipment with 10% down leaves $72,000 to finance. At 8.5% over 5 years the payment is $1,477.19, and the total cost including the down payment is $96,631. A balloon at the end lowers the payment and leaves a lump sum due.
Frequently asked questions
How do I calculate an equipment loan payment?
Subtract the down payment from the cost and apply the loan payment formula. $72,000 at 8.5% over 60 months is $1,477.19 a month.
What is a balloon or buyout payment?
A lump sum due at the end of the term. On a lease it is the price to keep the equipment. It reduces the monthly payment because part of the cost is deferred.
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