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Compare, Estimate, Plan with Hire Purchase Calculator

We provide free use our online HP calculator to assist buyers compare different credit options, estimate repayments on different vehicles and equipment and assist with planning asset acquisitions with finance. This computation device is an invaluable tool for operators to prepare budgets, prepare funding plans and to assist in those crucial pre-purchase decisions.

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Compare Finance Options & Rates with a Hire Purchase Calculator

HP is one of several commercial credit products available for funding asset purchases. The interest rates on credit facilities vary. Our calculation device provides an easy way to see the variations in estimated repayments for all options. Users of the device should be mindful that rates offered to individuals can also vary, depending on the lender and the details of the application. Use our current rates as a guide and contact us for a confirmed quote based on your specifications.

Loan Amount Loan Term
Loan Product Interest Rate Monthly Repayment
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${{Payment Amount}}
Monthly

Disclaimer: The comparison rate displayed is calculated for a loan of $30,000 over 5 years. The results from this calculator should be used as an indication only. Quoted repayments are based on advertised rates and do not include lender fees and charges. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you speak with us so that we can provide you with advice that is tailored to your situation.

30 September

Today's best rate

Finance Equipment From

4.99 % Fixed

* The interest rate is calculated on a secured loan for commercial use, effective 30/09/2023 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.

30 September

Today's best rate

Finance Equipment From

4.99 % Fixed

* The interest rate is calculated on a secured loan for commercial use, effective 30/09/2023 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.


Fast Approval and Quotes for Hire Purchase Calculator Estimates

When the results achieved on the HP calculation device meet budget expectations, contact us for a confirmed quotation. Approvals for HP credit may be received in 24 hours.

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What is a Hire Purchase Calculator?

Calculating repayment estimates on commercial funding can be a highly complex mathematical process. Our computation device eliminates the complexities by quickly calculating results based on the data entered. We make this resource available without charge and without obligation so buyers can plan their funding prior to purchasing and submitting an application.

The functionality of the device is to compute generic outcomes for interest charges over certain terms with or without a balloon option. It is a generic device in that it does not have the functionality to discern between users. No allowance is made for the credit profile, financial position or other aspects of the individual using the device. Which is why we emphasise that the results obtained are not quotes or offers but estimates.

The device also does not allow for lender fees and charges which can vary across the lending market. Allowing for these limitations, the device has many benefits in providing rough guides to repayments, being able to compare variations in repayments for assets at different prices and to plan preferences for the funding term and balloon option.

  • Get rough repayment estimates with Hire Purchase Calculator.
  • Calculator for Hire Purchase on equipment, trucks and vehicles.
  • Free use of HP Calculator, no obligation to proceed.


How to Get Finance Estimates Using Hire Purchase Calculator

Key to getting the greatest benefit from using an online computation device is knowing how to use it properly. It is very straightforward with no special mathematical or computer skills required. The fields are clearly marked for loan amount, interest rate, term and balloon.

Enter the amount required for the funding in the total amount field. If opting for a balloon, do not deduct the balloon from the total amount, the device will carry out that deduction. When purchasing assets that may have accessories, delivery, installation and commissioning charges, include those amounts in the funding total. Our brokers may be able to include those costs in the credit amount.

The interest rates on HP can vary with lenders and for individual applications. For the purpose of calculating estimates, enter the current rate we are displaying. A higher rate can be entered to receive different results as a contingency and for comparisons.

The term on HP can be from 1 year to 7 years. Enter the preferred term. This can be varied to receive a different result. A balloon is included as an option on HP funding. If this is preferred, enter the percentage required.

When all fields are completed, click calculate and the monthly repayment result for those values will be displayed. If the result is higher or lower than budget, simply alter the term, balloon or the loan amount and note the different result.

When altering the term, be mindful that a longer credit term will reduce the monthly commitment but increase the total amount of interest payable. A shorter term will result in a higher monthly outgoing but less in total interest over the full term.

To compare different priced machines or vehicles, simply repeat the process and note the results. The interest rate can be varied to compare HP with Leasing, Chattel Mortgage and Rent-to-Own.

  • Compare finance options with HP Calculator.
  • Change values when using Hire Purchase calculator to compare machine models.
  • HP calculator for all types of assets – equipment, machinery, trucks and cars.


Calculator for Hire Purchase Solutions – Plan, Structure Finance Options

Acquiring major assets can require the preparation of budgets to ensure the purchase is viable and the funding will be workable. A computation device makes budget preparation quick and easy as multiple options and variations can be calculated.

Preferences can be established in regard to balloon options, whether or not to pay deposits and establishing a preferred funding term to deliver a repayment schedule that will work with cash flow.  While quotes and offers may be different from the calculation device results, the device can be used for new and used vehicles, trucks and equipment.

  • Prepare budgets prior to asset acquisitions.
  • Establish repayment schedule that works with cash flow.
  • HP calculator for new and used assets.
Structure Your Finance Options with Our Hire Purchase Calculator

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FAQs
Hire Purchase Calculator

The results obtained using an online computation device are estimates only. They do not allow for individual differences with applications or for lender fees and charges. Any quotes can be different from the calculated estimates.

No. Use of an online credit calculation device is obligation free.

The result obtained with an online credit calculation device is not an offer or a quote. To obtain an offer, an application would need to be submitted to a lender or broker.

To compare different credit product options using a credit calculation device, enter the interest rate for that product.

Yes. The calculation device is a generic function which can be used for estimates on all types of commercial asset funding requirements.

The rate offered to an individual is subject to lender assessment of the application. For the purpose of obtaining estimates with an online calculation device, users can enter the rate as shown by the provider of the device.

HP without financials may attract a higher interest rate and other conditions. Applicants may use a credit calculation device for estimates, being mindful that their offer may be different from the results obtained.

HP is available for terms from 12mths/1 year to 84mths/7 years. Users can enter their preferred term when using an online calculation device.

HP credit has an option for a balloon which is a percentage of the total amount of the credit which is due for payment in full at the end of the term.

An online HP credit computation device can be used for estimates on all types of commercial assets including plant, machinery, equipment, trucks and motor vehicles.