Boat Loan Calculator
Calculate boat loan payments and total costs using our comprehensive boat loan calculator. Compare financing options, include taxes and fees, and determine the true cost of boat ownership.
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Boat Purchase Details
Enter down payment
Loan Terms
Taxes & Fees
Boat Loan Summary
Monthly Payment
$0
Loan Amount
$0
Total Interest
$0
Total Cost of Ownership
$0
Includes down payment, loan, taxes, and fees
Sales Tax
$0
Total Fees
$0
Don't forget ongoing costs: marina fees, insurance, maintenance, fuel, and winterization can add $3,000-$10,000+ annually.
Loan Balance Over Time
This chart shows how your boat loan balance decreases over the life of the loan.
Cash vs Finance Comparison
This chart compares the total cost of paying cash versus financing. The difference is the interest paid over time.
Understanding Boat Loans
Boat loans are specialized financing designed for purchasing recreational watercraft. Our boat loan calculator helps you understand the true cost of boat ownership including monthly payments, interest, taxes, and fees to make an informed purchase decision.
Key Factors
Down Payment
Lenders typically require 10-20% down for boat loans. Larger down payments qualify for better rates and lower monthly payments. Some lenders offer 100% financing with excellent credit.
Loan Terms
Boat loans typically range from 5-20 years depending on boat value. Newer boats over $25k often qualify for longer terms. Shorter terms mean higher payments but less interest paid.
Interest Rates
Rates vary based on credit score, loan amount, and boat age. New boats typically get better rates (4-7%) than used boats (6-10%). Rates often improve during boat show season.
Trade-Ins
Trading in your old boat reduces the taxable amount and loan principal. Get multiple trade-in quotes and consider private sale for potentially higher value.
Additional Costs to Consider
- Insurance: $300-$500+ annually for liability; more for comprehensive coverage
- Marina/storage fees: $1,000-$5,000+ annually depending on location and boat size
- Maintenance and repairs: Budget 10% of boat value annually
- Fuel costs: Varies widely by boat type and usage
- Winterization/dewinterization: $200-$500 per season in cold climates
- Registration and licensing: Varies by state, typically $50-$500 annually
Disclaimer: This calculator is for educational and illustrative purposes only. Results are estimates and may not reflect actual outcomes. Investing Point does not guarantee the accuracy of these calculations and is not responsible for any decisions made based on this tool.
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