Calculate your equipment finance repayments
Financing your business’ equipment with a chattel mortgage is one of the most cost-effective ways to purchase assets for your company or practice. Knowing exactly how much it costs each instalment, however, is an important part of ensuring what loans are manageable for you and your business.
That’s where Savvy’s equipment loan calculator comes into play. You can calculate the monthly, fortnightly or weekly repayments on any chattel mortgage for free based on varying loan amounts, interest rates, loan terms, deposits and residual payments.
Run the calculations before applying for equipment financing with Savvy to determine the loan you can afford.
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by Savvy. It does not take into account your personal or financial circumstances. To apply for a car loan, you must complete our online application. All applications are subject to our lenders' credit assessment criteria. Terms, conditions, fees and charges apply.
The features to enjoy if you choose equipment finance with Savvy
With comparison rates starting from just 3.36% p.a., you can enjoy a low rate on your commercial finance and minimise the cost of your loan.
GST is claimable on your purchase, as is the interest on your payments and depreciation of your equipment, which can save a significant amount on tax.
You’re only limited by what you’re able to comfortably repay when it comes to your borrowing amount, with financing available up to the purchase price of your equipment.
Stagger your repayments over a period that best suits your business’ cash flow, with terms as short as one year and as long as seven able to be chosen.
Whether you’re looking for heavy machinery, a vehicle like a truck, crane or tractor or even POS systems, we can help you get approved for financing.
It doesn’t matter whether your equipment is brand new, used or an ex-lease model; our flexible lenders offer solutions for a diverse range of product types and conditions.
You can cut down on your monthly repayments by contributing either a deposit at the beginning, or a residual payment at the end, of your loan.
It’s not just bigger businesses that qualify for equipment finance: there are just as many options for sole traders, with or without their tax returns.
Why you should finance your commercial equipment with Savvy
What our customers say about their finance experience
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Chattel mortgage vs. equipment lease explained
The instalments for a chattel mortgage will be higher than those of a lease when using equipment. This is because, under the former financing agreement, you’re paying for the full purchase price of the asset plus interest and fees, while the latter only covers the cost of hiring the asset along with added costs. If you’re solely concerned about the cost of each instalment, a lease is likely to be the cheaper option month-to-month.