Equipment Financing Calculator
Calculate monthly payments for equipment loans and leases. Compare financing options and understand the true cost of your equipment purchase.
Down payment: $7,500
* This calculator provides estimates. Actual rates and terms depend on equipment type, your credit, and lender requirements.
Equipment Financing Guide
Equipment Loan
- • You own the equipment
- • Build equity with each payment
- • May claim depreciation tax benefits
- • Equipment is collateral
- • Best for: Long-term use equipment
Equipment Lease
- • Lower monthly payments
- • Preserve capital and credit
- • Often 100% tax deductible
- • Flexibility at end of term
- • Best for: Rapidly depreciating tech
Common Equipment Types Financed
Excavators, loaders, trucks
Imaging, dental chairs
Ovens, refrigeration
Servers, computers
Frequently Asked Questions
What credit score do I need for equipment financing?
Most equipment lenders require a credit score of 600+, though some specialize in lower credit. Higher scores get better rates—720+ typically qualifies for the best terms.
Can I finance used equipment?
Yes, most lenders finance used equipment. Terms may be shorter and rates slightly higher than new equipment, and the equipment typically needs to be from a dealer or have a recent appraisal.
How much down payment is required?
Many equipment financing programs offer $0 down for qualified borrowers. Putting 10-20% down typically results in better rates and approval odds.
How long does approval take?
Equipment financing approval can take 24 hours to a few days depending on the amount and your business profile. Funding typically follows 1-3 days after approval.