Four inputs and three results, worked in your browser. The examples below are invented and worked separately, so you can check your own entries against them.
Equipment loan calculator, run on a concrete mixer for a Mandan, ND contractor
Equipment price is the quoted price before any down payment. Rate (annual %) is the yearly rate from an offer, or a test figure. Term (months) is the number of monthly payments. Down payment ($) is optional.
| Line | Invented figure | How it is worked |
|---|---|---|
| Monthly payment | $870.78 | Level payment on the full price |
| Total interest | $10,861.80 | 60 payments minus the price |
| Total cost | $52,246.80 | 60 payments plus any down payment |
These invented figures were worked separately from the tool. Type the same numbers in to check that your entries are read the way you meant.
Total cost including down payment is the figure to hold against the machine's working life. If the mixer is expected to run well past the last payment, the later years of use carry nothing owed on it; if it will wear out first, the payments outlast the drum.
Plate compactor and rammer payments over 36 or 48 months in Morton County, ND
| Term | Monthly payment | Total interest | Total cost |
|---|---|---|---|
| 36 months | $437.04 | $2,224.44 | $18,471.44 |
| 48 months | $343.79 | $2,992.92 | $19,239.92 |
Illustration only, invented figures: the longer invented term lowers the payment by $93.25 and adds $768.48 of interest. To run this in the tool, enter the full package price and the invented down payment separately, then change only the term.
A compaction package can bundle a plate compactor, a rammer and a set of pads or shoes on one quote. Keep the items on one quote if they will be financed together; a partner reads one total more clearly than three scattered receipts.
Nonemployer Statistics counted 253 construction businesses without paid employees in Morton County, ND for 2024, with $24.5 million in combined receipts. For a one-person crew, the monthly payment is the number to test first.
Equipment finance calculator with a down payment: a concrete pump for a Morton County, ND contractor
| Down payment | Monthly payment | Total interest | Total cost |
|---|---|---|---|
| None | $1,194.58 | $13,762.80 | $71,674.80 |
| $6,140 | $1,067.93 | $12,303.80 | $70,215.80 |
Illustration only, invented figures: the invented $6,140 down payment lowers the payment by $126.65 a month and saves $1,459.00 of interest. Whether that cash is better kept for payroll is a judgment the tool cannot make.
On quotes for pumps and mixers, a trade-in credit works the same way as a down payment: either subtract it from the price or type it into the down payment box. Do not do both, or the tool will count the credit twice.
Equipment payoff period: how many pours cover a power trowel in Mandan, ND
Illustration only, invented figures: spread over 48 months at 10.46% a year, a $12,976 power trowel costs the crew $331.98 a month in this invented case. If renting a trowel would cost $385 per pour in this invented case, one invented pour a month covers the payment.
This step is a separate division, done by hand, of the payment by what the machine saves or earns per job. The calculator does not work it out, and the records grid on the resources page covers the paperwork side. A crew that pours less than once a month is paying for a machine it could rent.
The payoff period is different from the term. The term ends when the last payment is made; the machine has paid for itself once the rent it replaced, added up month by month, passes everything paid toward it. A trowel that sits idle in the yard for two months stretches that point out, even though the payments keep their schedule. The equipment financing page covers quotes and terms.
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