Brookmark Financial in Sterling, Colorado offers this calculator as a math check only. It is not an offer and does not predict any partner's rate or term.
Equipment loan calculator for auto repair shops in Logan County, CO
An auto repair shop pricing a lift, a scan tool or an alignment machine can use the same calculator. Enter the quote as the price, the cash the shop will put down, a rate from an offer or a rate to test, and the term in months.
Logan County, CO counted 19 auto repair and maintenance employers in 2023 (County Business Patterns).
Equipment finance calculator in Sterling, CO: a dealer rate against an outside offer
An equipment finance calculator answers one question: what a given price, rate and term cost per month and in total. A contractor or shop comparing a dealer program with an outside lender can run each offer and compare the totals.
- Run the dealer's rate and term.
- Run the outside offer's rate and term.
- Add any fees by hand; the calculator does not include them.
- Compare the totals, not only the payments.
Equipment payback calculator in Sterling, CO: months until a machine covers its cost
An equipment payback calculation asks how many months of extra revenue or savings a machine needs to pay for itself. Divide the total cost from the calculator by the monthly savings or extra income the machine brings. An excavator that replaces a rental bill, for example, pays back sooner if that bill was large; the owner's own figures decide it.
Equipment financing calculator: how it works for Sterling, CO accounting offices
The calculator uses the standard level-payment formula: the amount financed is the price minus the down payment, the monthly rate is the annual rate divided by 12, and the payment repays the amount over the term. An accounting office checking a lease or loan on office equipment can verify a quote's payment the same way.
- Price minus down payment = amount financed.
- Annual rate divided by 12 = monthly rate.
- Level payment over the number of months.
- Payment times months plus down payment = total cost.
An excavator, a panoramic X-ray and a used service truck run through the calculator
Illustration only, invented figures, worked with the same formula (our arithmetic):
- A mid-size excavator priced at $165,000 with $25,000 down, financed at an annual rate of 9% over 72 months: about $2,524 a month, and $206,697 in total including the down payment.
- A panoramic X-ray unit priced at $48,000 with $6,000 down, financed at an annual rate of 10.5% over 48 months: about $1,075 a month, and $57,616 in total including the down payment.
- A used service truck priced at $36,000 with $4,000 down, financed at an annual rate of 11.5% over 36 months: about $1,055 a month, and $41,988 in total including the down payment.
Real offers may include fees, a different payment schedule, or annual or seasonal payments, which change these figures.
Read the three lines together. The excavator carries the largest payment but also the longest term; stretching a term lowers the payment and raises the total interest. The service truck has the shortest term, so most of its total is the price itself. Before asking for a quote, try the same machine at two or three terms and note how the total moves.
Logan County, CO had 7 commercial and industrial machinery repair shops with paid employees in 2023 (County Business Patterns). For the funding types behind these figures, see equipment financing or the lease or buy article.
By Brookmark Financial · Updated