farmcfo.com.au/tools/equipment-finance-repayments · 0412 759 847Equipment finance repayments
Enter the amount the loan covers, your deposit or trade-in, the interest rate, term and any balloon. The calculator shows the monthly repayment, the total interest, and the same loan without a balloon for comparison. It doesn't show tax or GST treatment: ask your accountant.
Your figures stay in this browser. Nothing is sent to Farm CFO or anyone else.
- Amount financed
- $180,000
- Monthly repayment
- $3,105.36
- Total interest
- $46,322
- Without a balloon
- $3,649.75 a month
With a $40,000 balloon at the end.
Total interest $38,985.
The example is an invented $200,000 tractor with a $20,000 trade-in, an 8% rate, 60 months and a 20% balloon. The rate is an example only, not a quote from any lender.
The working
- Amount financed = price - deposit or trade-in.
- Monthly repayment = the payment, made at the end of each month, that pays the loan down to the balloon over the term.
- Total interest = monthly repayment x months + balloon - amount financed.
General information only. This calculator doesn't take account of your circumstances and isn't tax, credit or financial product advice. Check figures with your accountant before relying on them.
Want the numbers done for you?
Farm CFO builds the budget, the monthly cashflow and the tests your lender will run, at a fixed price.
Read next: Farm equipment finance
Questions
Is a balloon a good idea?
It lowers the monthly repayment but you pay more interest and still owe the balloon at the end. It suits some cashflows, but plan how you'll pay or refinance it.
Can you arrange the finance?
Farm CFO doesn't arrange loans. Equipment and vehicle finance can be arranged through Levelhead Business Advisors, run by the same company, with any commission disclosed in writing.