This medical equipment loan calculator works out the monthly payment and total cost, including the down payment, of financing a device from its price, down payment, interest rate and term. Pinecroft Funding Group, a small-business funding broker in San Marcos, TX, provides it for Hays County practices as illustrative arithmetic, not an offer or estimate of terms.
The four inputs
- Equipment price: the quoted price of the scanner, chair, analyzer or table.
- Down payment: the cash or trade-in credit going in at the start.
- Interest rate: the annual rate from an offer, or one you want to test.
- Term: how many months the payments run.
The calculator finances the price minus the down payment and returns the monthly payment, the total interest, and the total cost: every payment plus the down payment.
A simple check on the math
To see how the arithmetic works, try a hypothetical $36,000 device with $6,000 down, a 0 percent rate and 60 months. The amount financed is $30,000, each payment is $500, and the total cost comes back to $36,000. Any rate above zero raises both the payment and the total. These are test figures, not an offer.
What to add by hand
- Shipping, installation and training. If they are financed, add them to the price before you enter it.
- Service contracts and software subscriptions. Usually billed separately; add their cost over the term to the total yourself.
- Fees at closing. Documentation and origination fees are left out; add them to the total yourself.
- A lease instead of a loan. Multiply the lease payment by the number of payments, add any buyout price, and compare that with the total cost shown here.
Every month is treated as an identical payment. Offers with deferred first payments or seasonal schedules will differ.
Why practices finance equipment
Hays County had 414 ambulatory health care employer establishments in 2023, including 142 physician offices and 78 dental offices, and 228 of the 414 had fewer than five employees (U.S. Census Bureau, County Business Patterns 2023). For a small practice, paying cash for imaging or a new operatory can leave too little for payroll while claims are paid. Equipment financing spreads the cost across the years the device is used, and medical and dental practice financing covers how partners review practices. The resources page has the other guides.
Illustrative arithmetic only. Only a lending partner can quote a real rate or term.
By Pinecroft Funding Group ยท Updated