Loan & Equipment Financing Calculator

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Loan Payment Calculator

Loan Amount ($):

The total amount you need to finance (e.g., truck cost, equipment value)

Annual Interest Rate (%):

The annual percentage rate (APR) offered by your lender

Loan Term (Months):

The length of your loan in months (e.g., 36 = 3 years, 60 = 5 years)

Down Payment ($):

Optional: Amount you'll pay upfront (reduces loan amount)

Enter your loan details above and click calculate to see your payment information.

Equipment Financing Tips

💡 Compare Multiple Lenders

Interest rates can vary significantly between lenders. Even a 1% difference can save you thousands over the life of the loan. Consider checking with equipment dealers, banks, and online lenders.

💡 Consider Loan Term Length

Longer terms mean lower monthly payments but higher total interest paid. Match the loan term to the expected useful life of the equipment - don't finance a truck for 7 years if you'll need to replace it in 5.

💡 Check for Tax Benefits

Equipment purchases may qualify for Section 179 deductions or bonus depreciation, which can significantly reduce your tax liability. Consult with a tax professional about potential benefits.

💡 Watch for Hidden Fees

Ask lenders about origination fees, prepayment penalties, and documentation fees which can add significantly to your costs. These should be factored into your decision.