Equipment Financing Calculator
Calculate your equipment financing options with our comprehensive calculator. Determine monthly payments, total costs, and loan terms based on your business needs.
Step 1: Loan Details
Understanding Down Payments
A larger down payment reduces your monthly payments and total interest paid. Most lenders require 10-20% down for equipment financing.
Step 2: Terms & Rates
About Interest Rates
Equipment financing rates vary based on credit score, business history, equipment type, and loan term. Rates typically range from 4% to 15% for qualified borrowers.
Financing Results
Estimated Monthly Payment
Loan Term Comparison
| Loan Term | Monthly Payment | Total Interest | Total Cost |
|---|
Cost Breakdown
Payment Calculation Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
Where P = Principal amount, r = Monthly interest rate (annual rate ÷ 12), n = Number of payments. This is the standard loan amortization formula.
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