Boat Loan Calculator
Buying a boat with a loan usually means a fixed monthly payment over several years. This shows that payment for the price you enter, after your down payment, at the rate and term you choose.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
The amount financed is the boat price minus the down payment. The monthly payment uses the standard loan formula with the yearly rate divided by twelve, over the number of months in the term.
Registration, insurance, tax, fuel, storage and dock fees are not in the payment. Those costs can add up over the years you own the boat.
Worked example
A $60,000.00 boat with 10% down, financed at 8.5% over 15 years, comes to $531.76 a month. You would pay $41,716.69 in interest over the loan.
Questions
How long are boat loans?
Terms vary by lender and by boat. Longer terms lower the monthly payment but usually raise the total interest. Try a few terms here.
Can I include extras in the price?
Yes, if they are part of the loan. Engines, trailers and delivery can be added to the price you enter.
Why does the down payment matter so much?
A bigger down payment means less is borrowed, so the payment and the interest are both lower.
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