Payment calculator
The estimated monthly payment for a truck, a trailer or a machine, based on the amount to finance and the term.
Enter the amount: the term and payment appear right away. The amount, term and estimated payment then carry over to the application form.
Free quote, several lenders compared.
How the estimate is calculated
The indicative rate depends on the amount financed: it goes down as the amount goes up. The payment is that of a loan repaid in equal monthly instalments over 2 to 7 years.
The actual rate is set by the lender when the file is approved, based on the equipment, its age and your business history.
Indicative rate by amount financed
- $2,500 to $4,999
- 13%
- $5,000 to $19,999
- 12%
- $20,000 to $49,999
- 10%
- $50,000 to $74,999
- 9%
- $75,000 to $149,999
- 8%
- $150,000 to $349,999
- 7.5%
- $350,000 and up
- 6.5%
- Sales taxesWith a purchase, they are paid at delivery. With a lease, they are added to each payment.
- The down paymentIt reduces the amount financed. You specify it in the application.
- The buyout valueWith a lease, it lowers the monthly payments.
- The lender's conditionsThe rate and term are set at approval.
What the estimate leaves out
The calculator gives an order of magnitude to prepare an application. Four things change the actual payment.
For the effect of taxes, see leasing. To know your budget before you shop, see pre-approval.
Is the estimate rate the rate I will get?
The estimate applies an indicative rate based on the amount financed. The actual rate is set when your file is approved, based on your business and the equipment involved.
Over how long can equipment be financed?
The estimate on this site covers 2 to 7 years. The actual term depends on the lender, the type and age of the equipment, and your file.
Is it better to finance or to pay cash?
Paying cash avoids financing costs, but it ties up cash the business needs to operate: wages, fuel, repairs, the slow season. Financing spreads the cost over the time the equipment is in use. A business that recently paid cash for equipment can also recover that money through refinancing.
Lease or loan: which should I choose?
With a lease, your business rents the equipment and can buy it at the end of the term through a buyout value. Payments are usually lower, and sales taxes are added to each payment. With a loan, you own the equipment from day one. The right choice depends on your tax situation and your goals: check it with your accountant.
Is a down payment required?
It depends on the lender, the type of equipment and your business profile. Some files close without a down payment, others require one. We tell you after reviewing your situation.
Caroline LavoiePresident, sales and financing
Let's talk about your file
(514) 648-8487Monday to Friday, 8 a.m. to 5 p.m.
Toll-free (800) 663-8487