Free tool
Equipment finance calculator
Estimate chattel mortgage or equipment loan repayments with an optional balloon, over terms up to 7 years.
Estimated monthly repayment
$2,166.15
- Number of repayments
- 60
- Balloon at end of term
- $24,000
- Total interest (est.)
- $33,969
- Total repaid (est.)
- $153,969
This calculator provides an estimate only and does not account for fees, charges or the specific terms a lender may offer. It is not financial advice or an offer of finance.
How to read this
Equipment finance is usually structured as a chattel mortgage with monthly repayments and an optional balloon of 0–40%. Adjust the balloon to see how it trades a lower monthly repayment for a larger lump sum at the end.
Balloon payment
A balloon payment is a lump sum, expressed as a percentage of the amount financed, that is due at the end of an equipment loan. It reduces regular repayments but must be paid, refinanced or covered by selling the asset.