Equipment financing calculator
The monthly payment on an equipment loan, the interest you pay over the term, and the total cost of the machine once it’s paid off.
Your numbers
See your resultResult
Monthly payment $2,705.12 Total interest $27,307 Total cost with the down payment $177,307 Amount financed $135,000 Stop working this out by handBefore you finance a replacement, FleetZap shows what each machine really costs you: parts, labor and outside repairs from every work order, plus its downtime.
See FleetZap Maintenance · Try the demoThe formula
Payment = Loan × r ÷ (1 − (1 + r)^−n), with r = APR ÷ 12 and n = months
This is the standard payment formula for a fixed-rate loan with equal monthly payments. With the example: $135,000 at 7.5% over 60 months is about $2,705 a month, and about $27,300 of interest. Leases, balloon payments and seasonal payment plans work differently; ask the lender for their numbers. The rent vs buy guide helps decide whether to buy at all.
Using the numberWhat to do with it
- Add the interest to the total cost of ownership; the TCO calculator takes it as one line.
- A longer term lowers the payment but raises the interest. Check the machine will still be worth more than the balance late in the loan.
- Compare the monthly payment with what renting the machine costs for the months you’d really use it.
Guides behind this calculator
Rent vs buy equipment Equipment lifecycle cost When to replace equipmentMore free calculators
Downtime cost calculator MTBF calculator OEE calculator Equipment cost per hour calculator Equipment depreciation calculator Equipment rental rate calculator Next PM due calculator EOQ calculator Safety stock calculator Reorder point calculator Truck cost per mile calculator Equipment total cost of ownership calculator MACRS depreciation calculator Section 179 calculator for equipment Equipment utilization calculator Mechanic labor rate calculator Hydraulic cylinder calculator Generator fuel consumption calculator Weibull reliability calculator Inventory turnover calculator Parts markup calculator Truck loan calculator Equipment lease vs buy calculator Fuel surcharge calculator Freight rate calculator IFTA fuel tax calculator Axle weight and bridge formula calculator Fleet fuel savings calculator Engine hours to miles calculator Bolt torque calculator MPG calculator (fuel economy) Vehicle depreciation calculator Mileage reimbursement calculator Cubic yards to tons calculator Generator size calculator Uptime calculator Vehicle maintenance cost calculator Fuel tank capacity calculator Air compressor CFM calculator Trailer tongue weight calculator Trip fuel cost calculator Towing cost calculator Break-even calculator Owner-operator salary calculator Labor burden calculator Excavation cost calculator Sling angle calculator GVWR and payload calculator Overhead rate calculator NMFC freight class calculator Towing capacity calculator Lawn mowing price calculator Landscaping cost calculator Snow removal pricing calculator TRIR and DART rate calculatorFleetZap Maintenance
The heart of FleetZap, and everything a maintenance team needs in one place: work orders and preventive maintenance, inspections and the field app, plus a parts store with purchasing, compliance and certificate tracking, multi-location assets with a full lifecycle, and the KPIs that prove it’s working.
- Work orders
- Preventive maintenance
- Procedures, inspections & field app
- Parts & purchasing
- Compliance
- Assets, reports & KPIs
Good to know
How is an equipment loan payment calculated?With the standard fixed-rate formula: loan × r ÷ (1 − (1 + r)^−n), where r is the yearly rate divided by 12 and n is the number of months.
How much would a $135,000 equipment loan cost?At 7.5% over 60 months, the payment is about $2,705 a month and the interest about $27,300. Rates and terms vary by lender and credit.
Should I lease or finance equipment?Financing makes sense for machines you'll use for years; leasing or renting can suit short jobs or fast-changing needs. Compare total cost over the time you'd actually use the machine.
See FleetZap on your own fleet
Book a 20-minute walkthrough, or poke around the live demo company right now.
- Set up with you, on your machines
- Works fully by hand, GPS optional
- Live demo, no sign-up