Free tool
Equipment finance calculator
Estimate chattel mortgage or equipment loan repayments with an optional balloon, over terms up to 7 years.
- Number of repayments
- 60
- Balloon at end of term
- $24,000
- Total interest (est.)
- $33,969
- Total repaid (est.)
- $153,969
This calculator is a guide only. It uses simplified assumptions, excludes fees and charges unless stated, and is not an offer or quote. Actual repayments are confirmed by the lender in its loan contract.
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.