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CalculatorEquipment loan calculator
Estimate monthly payments on construction equipment, tow trucks, dump trucks and other commercial equipment. Change the price, down payment, term and rate to compare your options.
Enter the deal details
For illustration only. Actual rates and terms depend on credit, time in business, financials, equipment type and approval.
| Term | Monthly | Total interest |
|---|
Longer terms lower the payment but add interest. Older or high-hour equipment may only qualify for shorter terms.
What affects your rate and terms
The calculator shows the math. Your actual rate depends on your business and the equipment.
- Time in business. Established companies usually qualify for better rates and lower down payments.
- Credit. Both business and owner credit, including how you've paid past equipment loans.
- Cash flow and financials. Bank statements for smaller deals; tax returns and financial statements for larger ones.
- The equipment. Newer machines and trucks, and brands that hold their value, support longer terms.
- Age, hours and mileage. Older or high-hour units usually mean shorter terms.
- Down payment. More down lowers the payment and can improve approval.
Ways to lower your monthly payment
- Put more down, or use a trade-in toward the down payment.
- Choose a longer term, keeping in mind it adds total interest.
- Consider newer or lower-hour equipment, which can qualify for longer terms.
- Ask about seasonal payment structures if your work slows in winter.
- Refinance existing equipment to free up cash or lower other payments. Refinance options
Calculator FAQ
How accurate is this calculator?
It uses the standard loan payment formula, so the math is exact for the numbers you enter. Your actual payment depends on your approved rate, term, down payment and any fees included in the deal.
Does using the calculator affect my credit?
No. The calculator runs entirely in your browser. Nothing is saved or sent, and no credit check is involved.
What rate should I enter?
Rates vary with your business, credit and the equipment. If you're not sure, try a few different rates to see the range, then apply to get your real rate.
Can I finance delivery, setup or attachments?
In many cases, yes. Attachments, upfit, delivery and some fees can often be included when they're on the invoice. Ask us about your deal.
What equipment can I use this for?
Any equipment: excavators, loaders, skid steers, rollbacks, wreckers, rotators, dump trucks, roll-offs, trailers and more. See construction, towing and work trucks.