Subscription Tier: Starter, Pro
Many rental and lawn care operators finance their bigger purchases — trucks, trailers, large tents, commercial mowers, generators, zero-turns. Equipment Loans lets you record the loan details for any asset or inventory item so Apex Rental Pro can show you your real cost of ownership, monthly payment commitments, and payoff progress alongside the rest of your business numbers.
Add a loan record any time you're paying off a piece of equipment over time. Typical cases:
- Truck or trailer financed through a dealership
- Commercial mower or skid-steer on a 0% promotional plan
- Large tent package purchased with a business loan
- Generator or party equipment financed through the manufacturer
- An SBA loan tied to a specific purchase
Cash purchases don't need a loan record — just log the purchase price on the asset or inventory item.
- Open the Asset (in the Assets section) or Inventory Item you want to attach the loan to.
- Click Add Loan / Financing.
- Fill in:
- Lender Name — dealership, bank, credit union, manufacturer
- Loan Amount — the original financed amount (not the purchase price if you made a down payment)
- Down Payment — what you put down up front (optional)
- Interest Rate — as a percentage (e.g.,
6.99 for 6.99%)
- Term — number of months
- Monthly Payment
- First Payment Date
- Payoff Date (auto-calculated from term + first payment)
- Notes — account number, dealer contact, whatever you want to keep handy
- Click Save.
Each month when you make your loan payment:
- Open the asset/item and find its loan card.
- Click Log Payment.
- Enter the payment date and amount (defaults to the scheduled monthly payment).
- Optionally split the payment into principal and interest if you know the breakdown from your statement.
Payment history shows every entry you've logged, and the remaining balance updates automatically.
Each loan shows a progress bar and summary:
- Paid to Date — total principal paid so far
- Remaining Balance — what's left
- % Paid Off
- Months Remaining
- Next Payment Due — highlighted if coming up in the next 7 days
Set a reminder (see Reminders) to nudge you before each payment if you don't autopay.
Loan data flows into the Analytics section two ways:
- Monthly Obligations — a running total of all your scheduled monthly loan payments across every financed asset/item. Useful for quickly seeing your fixed-cost floor.
- True Cost of Ownership — when you look at an individual asset's analytics page, interest paid on its loan is added to maintenance cost and purchase price to show what it has really cost you, not just the sticker price.
Viewing these analytics is an admin-only feature by default. See Employees for the permission that exposes financial details to a specific employee.
When a loan is fully paid off:
- Open the loan card.
- Click Mark Paid Off.
- The loan drops out of your monthly obligations total and moves to Paid Off Loans for history.
The asset/inventory item itself stays exactly where it was — only the loan record changes state.
If you sell the equipment before the loan is paid off:
- Retire the asset (or delete the inventory item).
- On the loan, click Close With Balance.
- Record the payoff amount and sale price.
- The difference between the sale price and remaining balance is shown on your Analytics view as a one-time gain or loss.
- Interest rate is a percentage, not a decimal: Enter
6.99 for 6.99%, not 0.0699.
- Monthly payment is your actual payment: Enter what you actually send the lender each month, including any rolled-in insurance, warranty, or fees. This keeps the Monthly Obligations number truthful to your real cash outflow.
- Apex does not auto-pay: Logging a payment in Apex records the payment for your own tracking — it does not move money. You still need to pay the lender through your bank, autopay, or their portal.
- Financial details are sensitive: Admins see loan details by default. Regular employees do not see loan/financial data unless you've explicitly granted them the financial-data permission. Review your Employees setup before assuming who can see what.
- Payoff date shifts if you miss or add a payment: The shown payoff date recalculates based on logged payments. If you skip a month, the date slides out. If you make a double-payment, it pulls in.
- Loans are per-asset, not per-lender: If one business loan covers three trailers, create three loan records (one on each trailer) with the amounts split, or create one on a single trailer and note the others in its Notes field. Apex treats each loan as one-to-one with its asset/item.