Estimated monthly payment
$0.00per month
- Amount financed
- $0
- Total interest
- $0.00
- Total repaid
- $0.00
Example only. Standard amortization, no fees. Your APR, fees and term are set by the lender and disclosed before you sign. Subject to credit approval.
Same amount, different terms
| Term | Monthly payment | Total interest | Total repaid |
|---|
The highlighted row is the term selected above. A longer term lowers the payment and raises the total interest.
Amortization schedule
| Month | Principal | Interest | Balance |
|---|
How to use the equipment loan calculator
- Enter the equipment price, including delivery and any attachments financed with it.
- Enter a down payment or trade-in. Many equipment lenders ask for a down payment on used machines or for newer businesses. The calculator finances the difference.
- Pick a term. Equipment terms usually track the asset's useful life: shorter for used machines and light equipment, longer for new heavy equipment and trucks.
- Enter an example APR. Equipment loans are secured, so rates are often lower than unsecured business credit. Try a range.
Loan payment vs lease payment
This calculator models a loan (or a $1-buyout lease, which is economically the same). A fair-market-value lease has a lower payment because you're not paying the machine down to zero; you return it or buy it at market value at the end. If a dealer quotes a lease payment that's much lower than the loan figure here, that's why, and the question becomes whether you want to own the equipment. Our equipment financing page compares the structures.
What the calculator leaves out
- Documentation and origination fees, which vary by lender.
- Sales tax, which may be financed or paid up front depending on the state and lender.
- Insurance, which lenders require on financed equipment.
- Tax treatment. Depreciation and expensing elections affect the real cost of ownership; ask your accountant.
- Factor-rate products. Some short-term lenders quote a factor rate, not an APR. This calculator assumes APR; ask any lender for the APR equivalent.
When you've got a number you like, tell us what you're buying and we'll match you with equipment lenders, or read about dump truck financing if it's a vehicle.
Frequently asked questions
How much is a $90,000 excavator per month?
With no down payment at 9.5% APR, about $1,890 a month over 60 months or $1,470 over 84 months. With $15,000 down, about $1,575 and $1,225 respectively. Illustrative only; equipment lenders set real rates.
What term should I finance equipment over?
Match it to the useful life and how long you'll keep the machine. Financing a used skid steer over seven years means paying for it after it's worn out; financing a new excavator over three years means a heavy payment for an asset that will work for a decade.
Do I need a down payment for equipment financing?
Often, especially for used equipment or businesses under two years old. Requirements vary by lender; some finance 100% for established businesses on new equipment.
Is this calculator an offer of credit?
No. It performs standard loan arithmetic. AL Elite is a matching service, not a lender; actual offers come from lenders after an application.
Does it work for trucks and vans?
Yes. Commercial vehicle loans amortize the same way. Enter the vehicle price and any trade-in as the down payment.