Equipment loan calculator
Monthly payment, total interest, full amortization schedule. Supports balloon payments. Compare two terms side by side.
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Enter your loan details to see monthly payment + amortization.
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Loan vs. lease — quick rules of thumb
- Equipment Finance Agreement (EFA) / loan: you own the equipment from day one. Best for assets you'll keep beyond the loan term. Eligible for Section 179.
- Capital lease ($1 buyout, FMV buyout): functionally similar to a loan for tax purposes. Most TAC deals are structured this way.
- Operating / TRAC lease: payments are expenses (not depreciation). Best for assets you'll turn over inside 5 years.
- Balloon payment: lowers monthly payment, but you owe the balloon at end of term. Common on commercial truck deals — get a new lender to refinance the balloon, or trade in the truck.
Get the real terms on your deal.
This calculator shows what the math would look like. The actual rate + structure depends on your credit, equipment, and time-in-business. Call us with the numbers above and we'll bring back a real term sheet inside three minutes.
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