Payment estimate
Enter the price, choose a deposit and a term, and see the monthly payment for every term we offer.
Run the numbers
Equipment financing, priced before you talk to anyone. These are the figures our office works from.
Estimate a payment
Equipment financing$1,584.28
a month for 60 months, after a $17,000 deposit
Equipment priced at $85,000, with a 20% deposit.
- Amount financed
- $68,000
- Finance charge
- $27,057
- Total of payments
- $95,057.06
- Due at signing
- $17,295.00
Statements can follow. The application goes in without them.
Due at signing is the deposit and the $295 documentation fee. Estimate only, at an illustrative 15% effective annual rate before fees, with the $295 documentation fee paid at signing. Not an offer or a commitment to lend; terms depend on review and a signed agreement.
Every term, priced.
Your price and deposit, at every term we offer. Choose a row to make it your term in the estimate.
| Term | Monthly payment | Total of payments | Finance charge |
|---|---|---|---|
| 12 months Your term | $6,107.38 a month | $73,289 | $5,289 |
| 24 months Your term | $3,266.74 a month | $78,402 | $10,402 |
| 26 months Your term | $3,049.05 a month | $79,275 | $11,275 |
| 48 months Your term | $1,860.18 a month | $89,288 | $21,288 |
| 60 months Your term | $1,584.28 a month | $95,057 | $27,057 |
The finance charge is the total of payments minus the amount financed. The $295 documentation fee is paid at signing and is not in the payments. The last payment can differ by a few cents for rounding. Estimates only; an offer is made in writing after review.
How it is worked out
An offer is worked the same way. Its figures can differ from the estimate after the review, and every one of them is in writing before you sign.
The estimate is plain arithmetic, done the way our office does it. Here it is with your own figures.
The deposit is a share of the price, paid at signing. The rest of the price is the amount financed, and the monthly payments repay it with interest.
Estimates are priced at 15% a year, with interest worked each month on what is still owed. The monthly rate is the one that comes to exactly 15% over a full year: 1.1715%, a little less than 15% divided by twelve.
Every payment is the same amount, rounded to the cent. Because of that rounding, the final payment is a few cents different, so that the balance ends at exactly nothing.
The $295 documentation fee is paid at signing with the deposit. It is not added to the amount financed, so no interest is charged on it.
| Equipment price | $85,000.00 |
|---|---|
| Less the 20% deposit | $17,000.00 |
| Amount financed | $68,000.00 |
| Monthly rate, from 15% a year | 1.1715% |
| 59 monthly payments of | $1,584.28 |
| A final payment of | $1,584.54 |
| Total of payments | $95,057.06 |
| Finance charge | $27,057.06 |
| Due at signing, with the fee | $17,295.00 |
What to have ready
About ten minutes with these to hand. The seller’s quote and the bank statements can follow.
In the application
- The business
- Legal name, EIN, address
- Time in business
- Years, and a contact
- Each owner
- Name, title, share
- Owner details
- Date of birth, home address
- The equipment
- New or used, seller, price
Now or later
- Bank statements
- Three most recent months
- The seller’s quote
- PDF or a clear photo
Choose “Later” in the application and it goes in without them. We email you a secure link to send them.
A Social Security number only where the review needs it.
What we finance
Machines a stone shop runs on, new or used.
Ask about a machineSolid terms, in writing.
Apply in about ten minutes. Bank statements can follow, and a person from Rock Solid follows up.