Truck Loan Calculator

Commercial truck paper is usually written with a residual due as one payment at the end, over a term that runs well past what a car loan does, and it is judged per mile rather than per month. This works out the payment with a balloon of any size, shows what that balloon buys you each month and what it costs in total, and divides the whole deal by the miles you expect to run. A second mode works backwards from the payment you can carry to the residual that would get you there. A third handles the first year deduction, with the Section 179 cap and the bonus percentage as fields rather than built-in numbers, because those change every tax year.

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Truck paper is often written with a residual due at the end. Set the balloon to zero for a fully amortising loan.

The purchase price before tax, title and any fees you are financing.
Equipment lenders commonly want 10 to 20 percent on a used truck.
Anything added to the amount financed rather than paid at signing. Federal excise tax on a new heavy truck goes here.
48 to 84 months is the usual range on commercial equipment; 96 and 120 exist on new tractors.
Due as one payment with the last instalment. Zero makes this an ordinary amortising loan.
Leave at zero to skip the cost per mile lines. An over the road tractor runs 100,000 to 130,000.
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You know what the truck can carry each month. This works back to the balloon that gets you there.

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Every tax figure here is a field, because the Section 179 cap, the vehicle cap and the bonus percentage all change from year to year. Fill them in from the figures for the year you place the truck in service.

The depreciable basis: what you paid, before any deduction.
Only the business share is depreciable, and under 50 percent business use disqualifies Section 179 entirely.
The overall limit runs to seven figures, but a passenger truck with a short bed is capped at a much smaller figure. Look up the number for your year and your vehicle rather than guessing.
Applied to whatever basis Section 179 did not take. This percentage has been changed by legislation more than once, so use the figure for your year.
20 percent is the first year of the five year table under the half-year convention, which is where most trucks sit.
Federal plus state, combined, on the last dollar of business income.
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