This company vehicle payment calculator works out the monthly payment and the total cost, including the down payment, for a work van or pickup from its price, down payment, annual rate and term in months. Brookmont Funding, a small-business funding broker in Terre Haute, Indiana, provides it for Vigo County trades and practices as illustrative arithmetic, not a quote.
What to enter
- Vehicle price: the purchase price of the van or pickup, including any upfitting (shelving, racks, a liftgate) you plan to finance with it.
- Down payment: the cash you put in at the start, including any trade-in value you are applying.
- Annual rate: the yearly rate from an offer you hold, or one you want to test.
- Term: how many monthly payments you would make.
The calculator assumes equal monthly payments that pay off the financed amount (price minus down payment) by the end of the term.
What it returns
- Monthly payment: the fixed payment on the financed amount.
- Total cost: every monthly payment added together, plus the down payment.
It does not show a lease payment, a residual or buyout, a balloon, or the tax treatment of the vehicle.
Checking the arithmetic
To test the method only: a hypothetical $41,400 vehicle with $5,400 down, at a 0 percent rate over 48 months, finances $36,000, gives a monthly payment of $750 and a total cost of $41,400. Any positive rate raises both results. The figures are a sum, not an offer.
What you still work out yourself
- Two terms side by side: run the same vehicle at two different terms and compare the total cost, not just the payment. A longer term lowers the payment and raises the total.
- Costs outside the price: anything on the purchase paperwork that you do not include in the price is not counted. Add it to the price if it will be financed, or set it aside if you will pay it in cash.
- Insurance and running costs: commercial auto coverage, fuel and maintenance are not part of the result.
- A lease offer: the calculator does not model leases; compare a lease using the lessor's own figures.
For how long a vehicle term should run relative to its working life, see our article on equipment terms.
Which vehicles this is for
Vans and pickups used by trades, practices and shops: an electrician's van, a caterer's refrigerated van, a contractor's pickup with a rack. Brookmont Funding does not work on trucking or fleet requests. In Vigo County, construction (183 employer establishments) and health care (425) were among the larger sectors in 2023 (U.S. Census Bureau, County Business Patterns 2023), and both rely on vehicles for site and home visits.
From calculation to a real offer
A partner sets the actual rate and term after reviewing the business and the vehicle. Equipment financing explains how vehicles are funded, and term loans cover larger projects. Other tools and guides are on the guides page.
By Brookmont Funding ยท Updated