Payment calculators for loans, leases and equipment
Four tools that answer the four questions people actually ask before financing anything: what will it cost a month, what can I afford, what does a lease really cost in total, and what will my business pay for equipment.
What will the monthly payment be?
Enter the price of what you are buying, including tax and delivery, and the calculator returns a payment range across the rates typical for your credit tier.
Tier 3 reflects lease-to-own structures, where cost is a total of payments rather than an APR.
Estimated monthly payment
—
- Amount financed —
- Term —
- Estimated total of payments —
- Estimated cost of financing —
Illustration only. Excludes taxes, delivery, initial payments and fees. Your actual payment and cost are set by the provider after underwriting and disclosed in writing before you sign.
How much can I finance?
Start from what you can comfortably pay each month and work backwards to a purchase price. This is the sounder way round, because the payment is the part you have to live with.
A longer term buys a bigger number here, but it also increases what you pay in total. Watch both figures.
You could finance roughly
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- Monthly budget —
- Term —
- Total you would pay —
- Of which is cost of financing —
Illustration only. The range reflects representative rates by tier; the lower figure assumes the higher rate. Approval and amount are decided by the provider.
What does a lease-to-own really cost?
A lease-purchase agreement has no APR. Cost is expressed as the total of payments, and running one to full term can cost well above the sticker price. Paying inside the early purchase window is usually the largest saving available to you.
Modelled on published industry ranges, where a full-term lease commonly totals around 1.8 to 2.3 times the cash price. Your provider's figure will differ — always ask for it in writing.
Estimated total if you run the full term
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- Cash price —
- Estimated monthly payment —
- Early purchase price —
- You would save by buying early —
Illustration only, not a quote. Lease charges, initial payments and the exact early purchase price are set by the lessor and disclosed before signing. Ask for the total of payments and the payoff figure today.
Business equipment finance
Two structures dominate equipment leasing. A $1 buyout costs more each month but you own the equipment at the end. A fair market value lease is cheaper monthly, with a purchase payment due at the end.
Estimated monthly payment
—
- Equipment cost —
- Term —
- Estimated total of payments —
- End-of-term purchase payment —
Illustration only. Equipment finance pricing depends on the equipment type, its resale value, time in business and owner credit. Section 179 and depreciation treatment vary; speak to your accountant.
Method
How these numbers are worked out
No calculator should be a black box, least of all one about money. Here is exactly what is happening behind each tab.
Loans and installment agreements
The first two tabs use the standard amortisation formula. Payment equals the amount financed multiplied by the monthly rate, divided by one minus one plus the monthly rate raised to the negative number of payments. The monthly rate is the annual rate divided by twelve.
Because the rate is not known until a provider underwrites you, the result is shown as a range built from representative rates for each credit tier rather than a single number that would be a guess dressed as a fact.
Lease-to-own agreements
The third tab does not use an interest rate, because lease-purchase agreements do not have one. It applies a cost-to-own multiple to the cash price, scaled by term length, in line with published industry ranges where a full-term lease commonly totals roughly 1.8 to 2.3 times the cash price.
The early purchase figure models the common structure of the cash price plus a modest fee inside the same-as-cash window. Providers differ, and some do not publish their total cost at all, which is precisely why you should ask for it.
What these calculators are not
They are not a quote, not an offer, and not a disclosure under the Truth in Lending Act or any state lease-purchase statute. They exclude sales tax, delivery, installation, initial payments, documentation fees and late fees. Your real figures come from the provider that makes you an offer, in writing, before you sign anything.
Questions
Calculator questions
Why does the lease tab cost so much more than the loan tab?
Because the two products price risk differently. A loan charges interest to a borrower whose credit has been underwritten. A lease-to-own agreement is offered to people a lender would often decline, and the lessor carries both the credit risk and the ownership risk on the goods. Broader approval costs more. If your credit qualifies you for a loan, compare both before you decide.
Should I take the longest term to get the lowest payment?
Only if the payment is otherwise unaffordable. Watch the total-of-payments line as you change the term: it climbs steadily while the monthly figure falls. The shortest term you can comfortably service is almost always the cheapest outcome.
How accurate is the early purchase saving?
It is directionally right and numerically approximate. Early purchase structures vary: some providers charge the cash price plus a flat fee, others a percentage, and some charge a buyout fee that differs by state. Ask your provider for the exact payoff figure today, in writing, before you sign.
Does using the calculator affect my credit?
No. Nothing here is submitted anywhere and no credit file is accessed. Only submitting an application triggers a soft credit pull, and that soft pull does not affect your score either.
See what you actually qualify for
Calculators give you a range. An application gives you a number. Checking takes two minutes and will not affect your credit score.