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Equipment Payments

Equipment affordability calculator

Find out how much equipment a monthly budget actually buys, before you fall for a machine you cannot finance. Enter what you can afford to pay a month, the rate, the term, and any down payment, and see the biggest purchase that payment supports, and how much of it is interest.

§ 01 Your numbers

Change anything. The answer updates as you type.

What the business can comfortably pay each month without straining cash flow. Be conservative: a payment you can only just make is a problem in a slow month.
The financing rate you expect to be offered. A higher rate means your payment buys less equipment.
How long you would finance. A longer term lets the same payment buy more equipment, but costs more interest and outlasts cheaper gear.
Cash you can put down. It adds directly to the price you can afford, on top of what the payment finances.
Equipment you can afford
$26,587
  • Financed by your monthly payment$24,087
  • Plus your down payment$2,500
  • Total equipment price you can afford$26,587
  • Total interest over the term$5,913
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Your budget reaches real equipment. Match the term to the machine's life so you are not paying for worn-out gear.

What this assumes, and where it could be wrong

Every one of these is a place the number could be off. They are here because you should be able to check our working, not because we are hedging.

WORK BACKWARD FROM THE PAYMENT, NOT FORWARD FROM THE MACHINE.
Buyers pick the equipment first and find out later what it costs a month. Doing it the other way, from the payment you can genuinely afford, keeps you out of a machine that strains the business. The term is the quiet lever: stretching from four years to six lets the same payment buy a bigger machine, but you pay more interest and may still be paying for gear that has worn out

Be conservative on the payment you can afford. A payment you can only just make in a good month is the one that sinks you in a slow one. Leave room for the fuel, maintenance, and insurance the equipment also costs, which are not in this payment, and for the months when the work is thin.

A longer term buys more machine and costs more interest. Extending the term lowers the payment per dollar financed, so the same budget reaches a higher price, but the total interest climbs and you risk financing equipment past its useful life. Match the term to how long the equipment will actually last.

This is the payment only, not the true cost of owning the machine. Insurance, fuel, and maintenance are real monthly costs on top, so the equipment you can truly afford is somewhat less than the payment alone suggests. Leave headroom.

The defaults are ours and are a starting point. The payment, the rate, the term, and the down payment are yours, and the number is only as safe as your honest estimate of what you can pay every month, not just a good one.

Frequently asked questions

How much equipment can I afford?
Work backward from the monthly payment you can comfortably afford. Given the rate and the term, that payment supports a loan of a certain size, and adding your down payment gives the purchase price you can reach. The calculator above does that reverse amortization, and also shows the interest, so you can see what the term is costing you.
How does the loan term affect what I can afford?
A longer term lowers the payment for each dollar borrowed, so the same monthly budget reaches a higher price. The catch is more total interest and the risk of still paying for equipment after it has worn out. Match the term to the equipment's useful life rather than stretching it just to afford a bigger machine.
What monthly payment can I afford for equipment?
Enough that a slow month does not put it at risk, after the equipment's own running costs. The payment should leave room for fuel, maintenance, and insurance, which this calculator does not include, and for lean months. A payment you can only make when work is good is too high.
Should I use my whole down payment?
A larger down payment lets you afford more equipment for the same monthly payment and cuts the interest, but it ties up cash you may need as a buffer. The right amount balances buying the machine you need against keeping enough working capital to run the business. Do not empty the account to afford a bigger machine.

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