Asset finance calculator

Looking to finance the purchase of business assets? Use this handy asset finance calculator to get an understanding of how much your loan might cost.

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*This interest rate is for illustrative purposes, your interest rate may differ and will be confirmed during your application.

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How is an asset finance loan calculated?

An asset finance loan is a type of loan used to purchase or lease business equipment, vehicles, or other assets. The amount of the loan is typically based on the value of the asset being financed, and the loan is secured by the asset itself.

To calculate an asset finance loan, the lender will typically consider several factors, including:

  1. The value of the asset: The lender will assess the value of the asset being financed and may require an independent valuation to ensure that the loan amount is appropriate.

  2. The loan term: The loan term is the length of time over which the loan will be repaid. The longer the loan term, the lower the monthly repayments, but the more interest will be paid over the life of the loan.

  3. The interest rate: The interest rate on an asset finance loan will depend on several factors, including the lender’s assessment of the borrower’s creditworthiness, the value of the asset, and the loan term.

  4. Any fees or charges: The lender may charge fees for arranging the loan or for early repayment.

Once these factors have been considered, the lender will calculate the total cost of the loan, including interest and any fees or charges, and divide this by the loan term to determine the monthly repayments.

It’s important to note that asset finance loans may be structured in several different ways, including lease agreements, hire purchase agreements, and asset-backed loans. The specific terms and conditions of the loan will depend on the type of financing chosen and the lender’s policies.

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Disclaimer: Swoop Finance Pty Ltd (ABN 52 644 513 333) helps Australian firms access business finance, working directly with firms and their trusted advisors. We are a credit broker and do not provide finance products ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Swoop Finance Pty Ltd can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness, we may receive a commission or finder’s fee for effecting such introductions. Swoop Finance Pty Ltd does not provide any kind of advice and in giving you information about providers products, we are not making any suggestion or recommendation to you about a particular product. Offers of finance are subject to a separate assessment process by the provider and subject to their terms and conditions. If you feel you have a complaint, please read our complaints section which is contained within our terms and conditions.

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