This mini excavator payment calculator works out the monthly payment and the total cost, including the down payment, of financing a machine from its price, down payment, interest rate and term. Firleaf Lending Group, a small-business funding broker in Bowling Green, Kentucky, provides it for Warren County contractors as illustrative arithmetic, not an offer or an estimate of terms.
What to enter
- Equipment price: the quoted price of the machine and any attachments being financed with it.
- Down payment: what you will pay up front, including any trade-in value you are applying.
- Interest rate: the annual rate in an offer, or one you want to test.
- Term: the number of months.
Every payment is treated as the same size, once a month. It returns the monthly payment and the total cost: all payments plus the down payment.
A check on the arithmetic
As a test only, enter a price of $36,000, a down payment of $6,000, a rate of zero and 30 months. The payment is $1,000 a month and the total cost is $36,000. Any interest raises both. These figures check the math; they are not an offer or a typical price.
Pieces to add yourself
- Fees. Doc or origination charges sit outside the result, so add them to the total cost on paper.
- Taxes and delivery. Add them to the price if they are being financed.
- A lease. The calculator does not model leases. Multiply the lease payment by the number of payments and add any purchase option to compare.
- Seasonal or skip payments. The calculator is monthly only; ask the partner for the total of all payments on any other schedule.
Variable-rate offers will change over the term; run a higher rate to see your margin.
Why Warren County, KY contractors run the numbers
Warren County had 265 construction employers in 2023, and 60.4 percent had fewer than five employees (U.S. Census Bureau, County Business Patterns 2023). For a crew that size, one machine payment can be the biggest fixed cost after wages. Run the payment at the offered term and a shorter one, and compare both with a slow month of deposits.
Equipment financing compares loans, leases and EFAs; contractor financing covers the rest of the job cycle; the construction funding post walks through a full year; and the resources page has the other guides.
The figures here are illustrations of the math; real pricing for a Warren County machine comes only from lending partners.
By Firleaf Lending Group · Updated