Equipment Financing Calculator
Estimate the monthly payment and total interest to finance equipment — machinery, vehicles, tech, or tools. Enter the equipment cost, rate, and term to see your full schedule. Free, no signup. The equipment usually serves as its own collateral, which often means a lower rate than unsecured debt.
Monthly payment
$1,037.92
- Total interest
- $12,275.03
- Total cost (principal + interest)
- $62,275.03
Export the schedule
Estimates only, for planning. Actual payments depend on your lender's rate, fees, and compounding. Not financial advice.
Why use this generator
- Estimate payments to finance a vehicle, machine, or production equipment.
- Match the loan term to the equipment's useful life so you're not paying after it's worn out.
- Compare financing vs leasing by monthly payment and total cost.
- Check how a Section 179 first-year deduction changes the real cost of buying.
How it works
- 1Enter the loan amount, the annual interest rate (APR), and the term.
- 2See your fixed monthly payment, total interest, and total cost update instantly.
- 3Open the amortization schedule to see how each payment splits between principal and interest.
- 4Adjust the numbers to compare offers — then export the schedule (Documents Pro) to share with a lender.
Frequently asked questions
- Should I finance or lease equipment?
- Financing builds ownership and equity and usually wins for long-life equipment you'll keep. Leasing lowers the upfront cost and is common for fast-depreciating tech you'll replace. This calculator models a financing (loan) payment; for a lease, enter the financed amount and the lease's money factor as an approximate rate.
- What is the Section 179 deduction?
- Section 179 lets a business deduct the full purchase price of qualifying equipment in the year it's placed in service (up to an annual limit) instead of depreciating it over years. It doesn't change your loan payment, but it can sharply lower the after-tax cost of buying — confirm eligibility and limits with a CPA.
- How long should the term be?
- Match the term to how long the equipment will earn — financing a 5-year machine over 7 years means you're still paying after it's obsolete. A shorter term raises the monthly payment but cuts total interest; use the months/years toggle to compare.
Applying for financing? Estimate what your business is worth with the Business Valuation Calculator, check what you need with the Business License Checklist, and get your free EIN.