Ridgepoint Credit, a small-business funding service in Owensboro, Kentucky, offers this commercial vehicle loan calculator for Daviess County, KY contractors, service trades and repair shops pricing a work van or pickup. Enter a price, down payment, rate and term to see the monthly payment, total interest and total cost including the down payment. Real rates and terms come only from partners.
What the commercial vehicle loan calculator does
The calculator uses the standard installment formula. It subtracts your down payment from the price, applies the rate and term you enter, and shows three figures: the monthly payment, the total interest over the term and the total cost of the vehicle including the down payment.
It does not know any partner's rates. Enter a rate from a quote you have, or try several to see how sensitive the payment is. The result is an estimate for planning, not an offer.
A sample work van calculation
Hypothetical, for arithmetic only. A plumbing firm prices an illustrative upfitted van at $48,000 and plans $5,000 down, so $43,000 would be financed. Entering a rate and a 60-month term returns the monthly payment and the total interest; adding the $5,000 down payment to the total repaid gives the total cost the calculator displays. Try the same price over 48 months to see the trade-off between a higher payment and less total interest.
These figures are examples, not typical prices or offers.
Three sums to do on paper, outside the calculator
Upfit, registration and insurance
Shelving, ladder racks, wraps, registration, title and commercial insurance may or may not be financed. Add any financed extras to the price you enter; budget the rest separately.
Lease payments
Only a purchase is modeled here. For a lease, ask the partner for the payment, the term and the end-of-lease terms, and compare total payments plus any buyout by hand.
Trade-ins
If you trade in an old vehicle, subtract its agreed value from the price, or add it to the down payment, before entering the figures.
How to get a business loan for a vehicle
- Get a written quote with the vehicle's year, make, model, VIN and upfit details.
- Decide on a down payment and the term that fits the vehicle's working life.
- Dial (270) 364-2505, or file the Ridgepoint request online.
- Line up each offer's total repaid, not just the payment you see each month.
Used vehicles are financed with attention to age and mileage, as described on the equipment financing page.
Business loan for a company car or pickup
A business loan for a company car works the same way as for a van, as long as the vehicle is used for the business. Partners may ask how the vehicle is used and who drives it. Heavy trucks for freight hauling are outside Ridgepoint's service; work vans and pickups for trades and service businesses are not.
Who prices work vehicles in Daviess County, KY
Trades and service firms: the county had 43 plumbing, heating and air-conditioning contractors and 48 auto repair shops with employees in 2023 (County Business Patterns). See the plumbing and HVAC page and the auto repair page, or return to the guides and calculator page.
By Ridgepoint Credit · Updated
