Asset & equipment finance calculator

Estimate repayments on a vehicle, equipment or machinery purchase, then see whether a chattel mortgage or a finance lease suits what you’re buying.

General information only

Structure

You own the asset from day one; the lender holds a mortgage over it until it’s paid off.

Asset value$80,000
$10K$2M
Deposit$0
$050% of value
Interest rate (p.a.)12.0%
6.9%20%

Newer assets typically price cheaper; older assets aren’t excluded, just priced differently.

Term5 years
1 year7 years
Balloon payment0%
None40%

Lowers repayments now, but the balloon still has to be paid out at the end of the term.

Monthly repayment $1,780/mo
Amount financed$80,000
Total repayment$106,773
Total interest$26,773

Indicative only. Ecommerce Loans is a finance broker, not a lender. GST, stamp duty and fees not included. Consult your accountant on tax treatment.

Get my options for this asset→
Chattel mortgage vs finance lease
Yours from day one, or not

Which structure suits your BAS and depreciation position.

Chattel mortgage or finance lease: which is this calculator showing?

Toggle between the two above. A chattel mortgage means you own the asset from day one, with the lender holding a mortgage over it until it’s paid off. A finance lease means the lender owns it and you pay to use it, usually with the option to hand it back, extend, or buy it out at the end. The repayment math is the same either way; what changes is who holds the asset when the term ends. See our asset finance page for the full worked examples on which one fits your situation.

Is this a chattel mortgage calculator?

Yes. With the structure toggle set to chattel mortgage (which is how it opens), this is a chattel mortgage calculator, and the figures it returns are the ones that apply when you own the asset from delivery and the lender registers its interest on the PPSR. Switch the toggle to finance lease and the same inputs are recalculated for a structure where the financier keeps ownership.

If you want the structure explained rather than calculated, the chattel mortgage page covers the downsides, the balloon trap and what moves your rate, and the chattel mortgage vs finance lease comparison sets the two side by side on GST timing and depreciation.

Using it as an equipment finance calculator

Same tool, same arithmetic. Equipment finance is the narrower term for the non-vehicle side of asset finance (machinery, plant, kitchen, medical, IT and workshop gear). It’s written on the same structures, so the calculator doesn’t need to change. Put the purchase price in as the asset value and the result is your equipment finance repayment.

On an $80,000 asset with no balloon, across the rate band this calculator covers:

TermAt 6.9% p.a.At 12% p.a.At 20% p.a.
3 years$2,466.51$2,657.14$2,973.09
5 years$1,580.32$1,779.56$2,119.51
7 years$1,203.51$1,412.22$1,776.50

Principal and interest, no balloon and no fees, on the same formula the calculator above uses. Establishment and monthly account fees sit on top and vary by lender.

What does the balloon cost?

The slider goes to 40%, and it is worth seeing what each step costs before you reach for it. On the same $80,000 asset at 12% p.a. over five years:

BalloonMonthlyTotal cost of financeOwing at the end
None$1,779.56$26,773.35$0
20% ($16,000)$1,583.64$31,018.68$16,000
40% ($32,000)$1,387.73$35,264.01$32,000

A 40% balloon takes $391.82 off the monthly repayment and adds $8,490.66 to the cost of finance, then leaves $32,000 owing on a five-year-old asset. That can be exactly the right call when the monthly number is what keeps the business running. It is the wrong one if nobody has told you the balloon is money you still owe rather than money you saved.

When does the balloon payment stop making sense?

A balloon lowers your monthly repayment, but it doesn’t lower what you owe, it defers it. If the asset won’t hold enough resale value to cover the balloon, or you don’t have a clear plan for the payout, a smaller or no balloon usually costs less in the long run even though the monthly figure looks higher today.

Before you enquire
It uses standard amortisation math and the rate range quoted across our asset finance panel (6.9% to 20% p.a.). Newer assets typically price toward the cheaper end; older assets are priced individually rather than excluded.
Yes, some lenders on our panel have no age restrictions at all. Newer assets tend to price cheaper because they carry stronger resale liquidity, but an older asset isn’t excluded.
It still has to be paid out. Balloon refinance products exist in the market, and if the asset doesn’t qualify for one, a term loan or overdraft can often cover the payout instead.
Andrew Beckett, founder and principal broker

Founder and principal broker, Ecommerce Loans. 10+ years in Australian SME, asset, trade and consumer lending across Shift, Iron Capital, Lumi and Lend, and a member of the FBAA.