Equipment Finance Calculator

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Total interest paid: --


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How to use the Equipment Finance calculator

To use the equipment finance calculator, you’ll need to enter some details about your loan to estimate your scheduled repayments. These are explained below:

  • Loan Amount — The amount of money you will be taking out under an equipment finance agreement.
  • Interest Rate — This is the fixed interest rate the lender will apply to your equipment finance loan.
  • Balloon Payment — A balloon payment is often represented as a percentage of the total loan amount. It will result in a reduced regular repayment amount at the cost of a higher, final payment. Balloon payments are commonly used when purchasing a vehicle through equipment finance, such as a chattel mortgage.
  • Establishment Fees — Any upfront fees charged by the lender when creating the equipment finance loan agreement. This will allow you to determine the full total amount of your equipment finance loan.
  • Loan Term — The length of your equipment finance loan as dictated by your loan agreement. The loan term is important as it will allow you to accurately calculate your monthly and weekly payments based on the Annual Percentage Rate (APR).

Once you have filled in your equipment finance loan details, simply click ‘See My Repayments’ to view an estimated repayment amount. You can then select Monthly, Fortnightly, or Weekly repayments to see what your repayment amount will be at various frequencies.

Example of Monthly Equipment Finance Loan Repayments

Equipment finance loan amountRepayments (5% interest)Repayments (7.5% interest)Repayments (10% interest)





































Equipment finance loan repayment examples are calculated using monthly repayments with a fixed interest rate on a 5-year term. They do not include any fees that may be charged by a lender in addition to interest.

Equipment Finance Calculator example

In the example below, we’ll use a $50,000 loan at a 12% interest rate, repaid monthly over 7 years without a balloon payment attached to the loan:

  • n = 84 (12 repayments per year for 7 years)
  • i = 0.01 (where the interest rate (12%) is divided by the number of annual payments (12) to provide a decimal representation of the interest rate)
  • Using the discount factor formula above, we can calculate the discount factor: ((((1+0.01)^84) - 1) / (0.01(1+0.01)^84)) = 56.6484
  • The discount factor is then calculated as 56.6484
  • We then take our loan amount ($50,000) and apply the Loan Repayment Formula, dividing the loan amount by the discount factor. This will provide your monthly repayments: 50,000 / 56.6484 = 882.637
  • We then round this figure out to a double-digit decimal amount. Your monthly repayments on this loan will be $882.64

If you want to quickly calculate your repayments without creating your own spreadsheet with the above calculations, you can use our free equipment finance calculator.

Equipment Finance Calculator FAQs

How do you qualify for equipment finance?

You will qualify for equipment finance with the majority of Australian lenders if you operate a business which has been trading for at least 12 months, have an Australian Business Number and are registered for GST. You can still qualify for equipment finance if you are self-employed, a sole trader, or your business has been operating for less than 12 months, however you may be required to provide extensive documentation to prove your ability to repay the loan.

What is the interest rate for equipment finance?

Equipment finance interest rates start as low as 4.49% for a commercial hire purchase or finance lease, while an unsecured business loan will have interest rates that start at 9.90%. The best equipment finance interest rates will be offered to secure, stable businesses applying for a secured form of equipment finance.

What is a balloon payment?

A balloon payment is a percentage of your loan amount which is not factored into your monthly repayments. If you apply for an equipment finance loan that includes a balloon payment, you will have two choices at the end of the loan term: you can either pay the balloon amount in full, or discuss with your lender about financing the residual amount into another loan.

Do lenders require a deposit for equipment finance approval?

You won’t need to put down a deposit on equipment finance if you own a home. In fact, you won’t need to provide a deposit at all if you are comfortable with the approval process taking a little longer. If you wish to fast-track your application through a streamlined equipment finance application and are renting a home, you will need to provide a 20% deposit on the assets you wish to finance.


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Money Pty Ltd (trading as provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. does not compare every Lender in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. When you apply for a credit product via the website, you are not applying with us, you are applying directly with a Lender Partner. Before entering into any credit product from one of our Lender Partners, you should confirm the rates and product information with the Lender. All information on this website is general advice only and does not take into account your objectives, financial situation or needs. You should consider whether this advice is right for you and we encourage you to seek independent financial advice.