Boat Loan Calculator
Price a boat loan including sales tax, fees and trade-in, or work backwards from a monthly payment you can afford to find the boat price that fits. Full amortization, upfront cash requirement and total cost of ownership included.
TheCalculators — Boat Loan Calculator
Printed thecalculators.com
Monthly Payment
$325.10
$28,000 loan · 120 months @ 7.00%
- Boat Price
- $35,000
- Sales Tax
- $2,450.00
- Fees
- $2,000.00
- Total Loan Amount
- $28,000.00
- Upfront Payment
- $11,450.00
- Total of Payments
- $39,012.45
- Total Loan Interest
- $11,012.45
- Total Cost
- $50,462.45
Loan breakdown
- Principal$28,000
- Interest$11,012
- Tax & Fees (upfront)$4,450
Amortization schedule (annual)
Marine lenders often require 10–20% down and terms up to 15–20 years on larger boats. Remember ongoing ownership costs: slip fees, insurance, winterization and maintenance commonly add 10%+ of the boat’s value per year.
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Formula
Payment = P·r(1+r)^n/((1+r)^n−1); Affordable loan = payment × (1−(1+r)^−n)/r
Pro tips
- • Boats depreciate fast — a 20%+ down payment keeps you above water on trade-in.
- • Compare secured boat loans against home equity: rates differ widely.
- • Older boats (15+ yrs) often face shorter terms or higher rates.
FAQ
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