A truck loan means that you are using a loan in order to purchase a new or used truck, and pay for it over time. The loan comes with a fee (interest rate) that must be repaid on top of the total cost of the truck. Truck loans are usually secured against the truck you are getting.
- Smarter Loans
- Rollup Financial Equipment Financing Calculator
Rollup Financial Equipment Financing Calculator
Need a new excavator, dental chair, or trailer for your business? This Rollup Financial Equipment Financing Calculator helps Canadian owners estimate monthly payments for Lease to Own and Micro Ticket transactions.
Pick your industry, enter the equipment cost and down payment, choose APR or factor rate, add taxes and fees, and get a clear breakdown with amortization and end-of-term buyout. When you like the numbers, apply with Rollup Financial for fast, flexible funding.
Equipment Financing and Small Business Funding
Lease to Own up to $200k, terms 12–72 months with buyout options, plus Micro Ticket transactions from $2k to $10k. Built for Canadian SMBs across many industries.
Calculate Equipment Financing Payments & Costs — Rollup Financial
Estimate monthly payments and total cost for equipment financing in Canada. Pick your industry to pre-fill realistic amounts and terms, choose APR or factor rate, set taxes and fees, then click Calculate to reveal a clear breakdown. Supports Lease to Own and Micro Ticket transactions.
Select your industry
Tiles reflect industries commonly funded. Tap one to pre-fill typical ticket size, term, and rate assumptions. You can edit any field below.
Your equipment and financing details
Percent and amount sync automatically.
Micro Ticket often uses shorter terms. Lease to Own can extend up to 72 months.
Enter your province’s combined rate such as 13% HST in Ontario.
Some leases include a small purchase option at the end.
Results show only after you click Calculate.
Payment breakdown
Summary and total cost
Amortization schedule
Lease to Own vs Micro Ticket
- Lease to Own 12 to 72 months, larger tickets, predictable payments, small buyout at end.
- Micro Ticket approximately $2k to $10k, quick decisions, shorter terms for fast upgrades and accessories.
Ways to lower your payment
- Increase down payment if cash flow allows
- Choose a longer term within limits noting higher total interest
- Reduce add-ons or negotiate vendor pricing and delivery fees
FAQs
What is a factor rate
A factor rate such as 1.25 multiplies the financed amount to determine total repayment before any end-of-term buyout. A 1.25 factor on $10,000 means $12,500 is repaid over the term. This calculator also estimates an implied APR so you can view a comparable amortization schedule.
How does the calculator pick Micro Ticket or Lease to Own
You can choose the product type directly. If set to auto detect, smaller amounts in the range of two to ten thousand dollars are treated as Micro Ticket while larger amounts are shown as Lease to Own. This helps model typical use cases without limiting your options.
Are taxes financed or paid upfront
Either approach is common. The calculator assumes taxes are financed on the price after down payment. If you plan to pay taxes upfront, increase your down payment accordingly to simulate that scenario.
Does the buyout change my monthly payment
In most leases the buyout is paid at the end of the term, so monthly payments remain the same. The buyout increases your all-in cost and is reflected in the total finance cost metric.
Can I enter a factor rate instead of APR
Yes. Select factor rate then input a value such as 1.20 or 1.35. The tool will compute level payments and show an implied APR for schedule visuals. Exact lender structures can vary.
What industries are supported
Common categories include transportation and trailers, construction, printing and computers, audio and visual, medical and dental, fitness, welding, janitorial and sanitation, and agriculture and landscaping. Use the Other tile for anything not listed.
How can I improve approval odds
Prepare recent bank statements, invoices or quotes, clear equipment details such as age and condition, and demonstrate stable cash flow or signed contracts. A reasonable down payment can also help.
Can I pay off early
Some agreements offer early payoff options or purchase options before maturity. Check your contract for prepayment terms and any fees.
What if I need seasonal or skip payments
Certain lenders offer seasonal structures or skip-payment features for industries with uneven cash flow. Discuss these options during application to ensure the structure matches your revenue cycle.
How accurate are these estimates
They are planning estimates based on your inputs. Actual approval, rate and term depend on credit profile, time in business, equipment type and condition, and lender policy.
Apply with Rollup Financial
Fast decisions for Canadian SMBs across transportation, construction, medical and dental, printing and more.
What is a truck loan?
When should you consider a truck loan?
Truck financing is used when purchasing any type of truck, such as a dump, highway, box, or flatbed. Most people utilize truck financing when purchasing a truck to help preserve cash flow.
What are the current average truck loan rates?
Truck loan rates can vary greatly depending on your personal or business financial history, the lender you are getting the financing from, the type of truck you are buying and more. In general, truck loan annual interest rates can be anywhere from 2% and go up to 20%+.
How do I qualify for a truck loan?
To qualify for a truck loan, you will typically need: Proof of residency in Canada, credit history, steady income from employment, government issued ID and paperwork on the truck you are looking to buy.
How does a truck loan work?
Truck financing is a secured type of loan, which means that the truck you are purchasing is the collateral. You will risk losing the truck if you are not going to repay your loan on time. Typically truck financing loans come with a term of 3 to 8 years, but this can vary on case by case basis.
How are truck payments calculated?
The truck payments will be determined based on the total cost of the truck, the downpayment that you contribute, the interest rate, and term length. Make sure that you carefully review and understand the terms of your truck loan agreement and how the payments are calculated.
What are the best places to get a truck loan?
The best truck loans are hard to find all by yourself. Especially because different loan types and different lending companies are better suited for different people. Check out the list of top truck loan providers at Smarter Loans as a starting point.
How can I get a truck loan online?
There are many companies that offer truck loans in Canada entirely online. At Smarter Loans you can find such companies, apply for a truck financing from the comfort of your home, and receive a pre-approval in 24 hours.
