Calculate monthly boat loan payments, total interest, and see a complete amortization schedule. Includes presets for fishing boats, pontoons, and yachts.
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Planning to buy a boat? Our boat loan calculator helps you understand exactly what your monthly payment will be, how much interest you'll pay over the life of the loan, and when you'll pay it off. Factor in your down payment, trade-in value, taxes, and fees for a complete picture of boat financing costs.
A boat loan (marine loan) is a secured loan used to purchase watercraft. The boat serves as collateral, which typically results in lower interest rates than unsecured personal loans. Boat loan terms typically range from 3 to 20 years depending on the boat's value, with longer terms available for higher-priced vessels.
Monthly Payment Formula
M = P × [r(1+r)^n] / [(1+r)^n - 1]Determine exactly how much boat you can afford based on your desired monthly payment before visiting the marina or dealership.
See how different loan lengths (5 to 20 years) affect your payment and total interest. Boat loans offer longer terms than auto loans.
Include sales tax, trade-in value, and registration fees to get an accurate total cost of boat ownership.
Calculate payments before getting pre-approved to know what loan amount to request from your bank, credit union, or marine lender.
Go to the boat show prepared with exact numbers so you can focus on finding the right boat, not worrying about financing.
Compare the total cost of financing a new boat versus a used boat with different rates and terms.
Compare your current boat loan payments to potential refinanced rates to see if refinancing makes financial sense.
With a 10-year loan at 7.99% APR and 10% down ($5,000), monthly payments on a $50,000 boat would be approximately $545/month. A 15-year term reduces this to about $418/month but increases total interest paid.