Equipment Finance Calculator

Use our equipment finance calculator to compare repayments & rates

Amortisation Schedule Monthly

Month Payment Interest Principal Balance
$0.00 $0.00 $0.00 $0.00 $0.00
Year Total Repayment Total Interest Total Principal Total Balance
$0.00 $0.00 $0.00 $0.00 $0.00

Check out the repayment schedule for your equipment finance above. Enter or update your finance details in the calculator fields to see the schedule. 

How to use our equipment finance calculator 

Our equipment finance calculator will show your repayments — including the breakdown of interest and loan principal you’ll pay monthly or annually over the term of the equipment loan. You can also factor in any applicable balloon payment to accurately calculate your overall finance costs. 

Here’s how to use our equipment finance repayment calculator in four easy steps:  

1. Enter your loan amount. This is the amount you wish to finance (after any deposit or trade-in). 

2. Choose the term you wish to lease the equipment for (in months). Equipment leasing contracts generally range between 12 - 60 months. 

3. Enter the annual interest rate. Calculate monthly and yearly amortisation (repayment) schedules for your equipment loan or lease. 

4. Select your balloon payment (if applicable) to adjust estimates. A balloon is a lump sum payment sometimes due at the end of a loan term. The balloon payment is usually calculated as a percentage of the total loan amount.

How are interest rates on equipment finance calculated? 

Interest rates on equipment finance depend on the type of finance you apply for and your risk as a borrower. Lenders will consider factors like your business credit score, the purpose of the loan, how long your business has been trading, and your business revenue. Use our equipment finance tool to decide whether to lease or hire purchase.

Equipment finance rates in Australia  

Interest rates on equipment loans can range between 7% and 20%, depending on your chosen finance option and your business risk profile. You can get better rates if you have a good credit rating and opt for secured equipment finance like a chattel mortgage or hire purchase (HP) agreement.   

FAQs about equipment finance calculator

How do I qualify for equipment finance?

The minimum eligibility criteria for equipment finance in Australia are: 

- Australian citizenship or permanent residency

- An active ABN or ACN

- At least six to 12 months of trading history

- The ability to provide bank statements

- A good credit score — the minimum credit score for business lending is around 400.

Do I need a deposit for equipment finance?

You don’t usually need a deposit for equipment finance like a chattel mortgage or hire purchase as the asset(s) themselves serve as security. Some lenders may require a deposit for other types of asset finance.


What is a balloon payment?

‘A balloon’ is a lump sum residual payment due at the end of a loan term. It’s typically set as a percentage of your loan amount but calculated separately from your annual interest rate. 


Most equipment finance terms are between one and five years. You can lease new equipment when the term is up or pay the residual value (the value of the equipment at the end of the term) and keep the equipment. If your equipment or machinery loan includes a balloon payment, factor it into your repayment estimations.

Is equipment finance cheaper than a business loan?

Leasing equipment costs less upfront than purchasing equipment outright or taking out an unsecured business loan. It’s a great option for small businesses that need to preserve working capital and limit the risk of asset depreciation. There are also tax benefits to equipment leasing and the option of ownership at the end of the term with select asset finance agreements.


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