Skymont Lenders, a small-business funding service in Rexburg, ID, offers this equipment finance calculator for contractors pricing a machine. Enter price, down payment, an annual rate and a term in months to see the estimated monthly payment and total cost, down payment included. It is an estimate only; a funding partner sets real terms.
What the Calculator Shows
- You enter: equipment price, down payment, annual rate, term in months
- You get: estimated monthly payment, and total cost including the down payment
Those two outputs are the whole result. The widget does not model leases, balloon payments, taxes, insurance, delivery or trade-ins.
Using It as a Heavy Equipment Payment Calculator
Start with the real quote. For a used compact track loader, enter the dealer price, the cash you plan to put down, a rate you want to test, and a term that matches how long you expect to run the machine. Then change one input at a time. Shortening the term raises the payment and lowers the total; a larger down payment lowers both.
Illustrative inputs (not an offer)
Price $86,000, down payment $8,600, a test rate you choose, 60 months. Run the same inputs with 48 months and compare the two totals. The rate you type is your assumption; no rate on this page reflects what any partner charges.
Typical Equipment Loan Terms
There is no published typical term through Skymont Lenders. Partners set terms by the machine's age and expected life, the business's history and the structure chosen. As a planning rule, keep the term inside the period you expect the machine to stay productive, so you are not still paying for it after it is parked.
Equipment Finance Calculator With Balloon: Doing It by Hand
The widget assumes equal payments with nothing left at the end, so it cannot show a balloon. To approximate one, subtract the balloon amount from the price before you enter it, note the payment, and remember that the balloon is still owed in one sum at the end, plus the cost of carrying that amount through the term. Ask any partner offering a balloon for its own full payment schedule.
Business Loan Payment Calculator vs This One
A general business loan payment calculator takes an amount, rate and term. This equipment version adds the down payment and counts it in the total cost, which is the figure to compare between two machines or a buy against a rental.
For structures, collateral and used-machine questions, read equipment financing. For the rest of a contractor's funding needs, see contractors and builders. Other guides are listed on the resources page.
By Skymont Lenders · Updated