How do you compare equipment financing offers when terms are different?

Hold the equipment price constant. Line up monthly payment, cash due at signing, residual/buyout, and total cash if you keep the asset. A lower monthly FMV can cost more if you buy it at the end. This tool compares those numbers without mixing APR and factor rate.

Can I finance equipment with a 550–650 credit score?

Yes. Programs in that band usually want more down (15–30%), a shorter term, and a higher rate than a 720 file. Down payment, deposits, and the equipment type determine which program fits.

Is a lower monthly payment the better deal?

Monthly is the cash-flow number. If you will keep the machine, compare total cash including residual or buyout. Stretching term or a higher residual FMV can lower the monthly and change all-in cost.

Compare Equipment Financing Offers

Paste two quotes. See which is cheaper if you keep the machine, and which loan or lease structure typically fits your credit band.

Your situation

Credit band helps match the right program — down payment, term, and whether you will keep the machine.

Credit band (no hard pull)

Equipment cost

New or used

Years in business

Offer A

Paste the dealer or bank numbers. Quoted monthly overrides APR/factor if you fill it in.

Label

Structure

Down / advance

Fees at signing

Term (months)

APR %

Quoted monthly (optional)

Offer B

Same equipment, different structure or lender.

Label

Structure

Down / advance

Fees at signing

Term (months)

Factor rate

Quoted monthly (optional)

Residual / buyout

Apples-to-apples

Keep winner: Offer B (FMV lease). Lower monthly: Offer A (loan).

	Offer A (loan)	Offer B (FMV lease)
Monthly	$1,598	$2,240
Due at signing	$8,495	$395
All-in if you keep it	$104,373	$97,035
Cash if you return it	You own it	$81,035
Cost above cash price	$24,373	$17,035

Programs exist here — down payment and cash flow drive the match.

14–22% APR / factor ~0.028–0.036 · Down 15–25% · Term 36–60 months (shorter if used)

Lenders in this band price the equipment, deposits, and down payment first. Rate will be higher than a 720 file. The goal is a payment and term the business can run.

What typically fits

15–25% down when cash allows — it opens more programs
Vendor or dealer invoice
A simple picture of how the machine pays for itself (jobs, routes, or ROI)

Have this ready

3–6 months of business bank statements
Invoice and the monthly you can live with
Get matched with a specialist who places this credit band

CNC / equipment financing with lower credit Typical factor-rate bands How to calculate equipment ROI

Want real lender options for these numbers?

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Monthly vs all-in cost

Monthly is the cash-flow number. If you will keep the machine, add residual or buyout so the two quotes are comparable. A 36-month FMV at 0.028 on $80,000 can look cheaper than an 11.9% loan until you include the end buyout. Put both in the boxes above. Related: equipment lease rates, lease vs buy analysis, and the lease vs buy calculator.