Boat Loan Calculator
Calculate monthly payments and total costs for your boat financing
Planning to purchase a boat? Our boat loan calculator helps you estimate monthly payments, total interest costs, and compare different financing options. Whether you're buying a new yacht, used fishing boat, or personal watercraft, understanding your financing options is crucial for making an informed decision.
Boat Loan Details
Additional Costs
Loan Summary
Cost Breakdown
| Boat Price | $45,000 |
| Sales Tax | $3,375 |
| Documentation Fees | $500 |
| Extended Warranty | $2,000 |
| Total Purchase Price | $50,875 |
| Down Payment | -$9,000 |
| Loan Amount | $41,875 |
How to Use
1. Enter the boat's purchase price
2. Set your down payment amount or percentage
3. Input the interest rate and loan term
4. Add any additional costs like taxes and fees
5. Click "Calculate" to see your monthly payment and total costs
Boat Financing Tips
Down Payment
Most lenders require 10-20% down for boat loans. A larger down payment reduces your monthly payment and total interest paid.
Interest Rates
Boat loan rates typically range from 4-15% depending on the boat's age, your credit score, and loan term. New boats often qualify for better rates.
Loan Terms
Boat loans can extend from 2-20 years. Longer terms mean lower monthly payments but more total interest paid.
Additional Boat Costs
Insurance: Boat insurance typically costs 1-5% of the boat's value annually
Registration & Licensing: Varies by state, usually $50-500 annually
Storage: Marina slips or dry storage can cost $1,000-10,000+ annually
Maintenance: Budget 10-15% of the boat's value annually for maintenance
Fuel: Varies greatly based on boat size and usage
Frequently Asked Questions
What credit score do I need for a boat loan?
Most lenders prefer a credit score of 650 or higher for boat loans. Higher scores qualify for better interest rates.
Can I finance a used boat?
Yes, but used boats typically have higher interest rates and shorter loan terms. The boat's age and condition affect financing options.
Should I get pre-approved?
Pre-approval helps you understand your budget and strengthens your negotiating position with dealers.