Equipment Loan Calculator
Calculate monthly payments, total interest, and see your complete amortization schedule. Get instant equipment financing numbers to make informed decisions.
Common Equipment Loan Examples
See real-world equipment financing scenarios with typical loan amounts, rates, and terms. These examples show what businesses commonly finance and the monthly payments you can expect.
| Equipment Type | Loan Amount | Rate | Term | Monthly Payment | Total Interest | Total Cost |
|---|---|---|---|---|---|---|
Construction Equipment Excavators, skid steers, small construction tools | $25,000 | 12% | 5 years | $556 | $8,360 | $33,360 |
Medical Equipment Diagnostic equipment, dental chairs, medical devices | $75,000 | 10% | 5 years | $1,594 | $20,640 | $95,640 |
Manufacturing Machinery CNC machines, production lines, packaging equipment | $150,000 | 11% | 7 years | $2,387 | $50,508 | $200,508 |
Heavy Equipment Cranes, bulldozers, large industrial machinery | $300,000 | 9% | 7 years | $4,441 | $73,044 | $373,044 |
Specialized Industrial Advanced manufacturing systems, specialized production equipment | $500,000 | 8% | 7 years | $7,134 | $99,256 | $599,256 |
Rate Factors
Equipment financing rates typically vary based on:
- Equipment type and age: New equipment gets better rates (8-12%) vs used (10-15%)
- Business credit score: 700+ scores qualify for lowest rates
- Down payment: 20%+ down can reduce rates by 1-2%
- Loan term: Shorter terms (3-5 years) get better rates than longer terms
Financing Tips
Maximize your equipment loan approval chances:
- Compare multiple lenders: Rates can vary 2-4% between lenders
- Consider SBA loans: Often 1-3% lower rates for qualified businesses
- Prepare financial documents: 2+ years tax returns, bank statements
- Equipment must be business-use: Personal use equipment typically not eligible
Equipment Loan Calculator
Calculate monthly payments, total interest, and see your complete amortization schedule.
Loan Results
How the Equipment Loan Calculator Works
Our calculator uses standard loan formulas to give you accurate equipment financing estimates.
What You Need to Know
- • Equipment Cost: Total price of the equipment you want to finance
- • Down Payment: Amount you'll pay upfront (typically 10-30%)
- • Interest Rate (APR): Annual interest rate for equipment loans (usually 3-15%)
- • Loan Term: Length of the loan in months (12-120 months typical)
What You'll Get
- • Monthly Payment: Exact amount you'll pay each month
- • Total Interest: Total interest paid over the life of the loan
- • Total Cost: Equipment cost plus all interest and fees
- • Payment Schedule: Month-by-month breakdown of payments
When to Use This Calculator
Before Talking to Lenders
Know your numbers before you start shopping. Get realistic payment estimates to set your budget.
Comparing Loan Options
Test different down payments, terms, and rates to find the best financing structure for your business.
Budget Planning
See how equipment payments fit into your monthly cash flow and business budget.
Equipment Types We Cover
Frequently Asked Questions
How accurate are these calculations?
Our calculator uses standard loan formulas and provides estimates within 1-2% of actual lender quotes. Final rates and terms will depend on your credit score, business history, and lender policies.
What's a typical down payment for equipment loans?
Most equipment loans require 10-30% down. New equipment typically requires 10-20%, while used equipment may require 20-30%. Some SBA loans allow as little as 10% down.
What interest rates can I expect?
Equipment loan rates typically range from 3-15% depending on your credit score, business history, equipment type, and loan term. SBA loans often offer the lowest rates.
Can I save my calculations?
Currently, calculations are not saved automatically. We recommend taking a screenshot or writing down your results. Future updates will include save functionality.
In-Depth Guide: Equipment Loans
Learn how lenders price equipment loans, what affects your rate, and how to structure terms for lower total cost.
How Lenders Price Loans
- Risk-based pricing: business credit, time in business, financials
- Collateral strength: equipment type, age, resale value
- Loan structure: down payment, term length, personal guaranty
Ways to Lower Your Rate
- Increase down payment to reduce loan-to-value (LTV)
- Choose a shorter term to reduce lender risk
- Provide complete financials and equipment quotes upfront
Common Mistakes to Avoid
- Only comparing monthly payment instead of total cost
- Underestimating maintenance and operating expenses
- Picking terms that outlast the useful life of the equipment