Equipment Financing Payment Calculator

Your numbers

Adjust anything — the result updates as you type.

Purchase priceBefore tax

Down paymentTypically 0%–10% on approved credit

TermMonths

Annual rateEstimate only — your rate depends on the file

Finance the tax instead of paying it up front (13% HST — Ontario)

This calculator is an estimate for planning purposes only. It is not a quote, an offer of credit, or an approval. Actual rates, terms and payments vary by applicant, equipment and lender, and all financing is subject to credit approval. Figures assume a fixed rate amortised over the selected term, and exclude registration, insurance and any lender or documentation fees. Tax shown is Ontario HST at 13%; rates differ by province.

How the payment is calculated

The amount financed is the purchase price less your down payment, plus tax if you choose to finance it rather than pay it at signing. That balance is amortised over the term at the annual rate, which produces a fixed monthly payment. Total interest is simply every payment added together, minus the amount financed.

The figure most operators underestimate is that last one. Stretching a term lowers the monthly payment, which feels like a cheaper truck — but it raises the total interest, sometimes substantially. The panel on the right shows both numbers side by side for exactly that reason, and the term comparison lets you see the trade-off across every option before you commit to one.

What actually decides your rate

Rate is a function of the file, not the calculator: your credit profile, how long you have been operating, the age and type of the unit, and whether you are buying from a dealer or privately. Newer equipment from a dealer generally prices better than a high-hour private-sale machine, because the lender's security is stronger. If you want the real number rather than an estimate, a short conversation with an advisor will get you there faster than adjusting sliders.

Frequently asked questions

How is a commercial equipment payment calculated?

The amount financed is the purchase price minus your down payment, plus applicable tax if it is financed rather than paid up front. That amount is amortised over the term at the annual rate, producing a fixed monthly payment. Total interest is the sum of all payments minus the amount financed.

How much down payment do I need for equipment financing in Canada?

Down payments typically range from 0% to 10% on approved credit, depending on credit, time in business and the unit being financed.

Does a longer term mean a cheaper truck?

No. A longer term lowers the monthly payment but increases the total interest paid. The calculator shows both figures so the trade-off is visible before you commit.

Is this calculator a quote or an approval?

No. It is an estimate for planning only. Actual rates and terms vary by applicant, equipment and lender, and all financing is subject to credit approval.

Equipment Financing · Truck & Trailer Loans · Refinancing · Financing glossary