Boat Loan Calculator
Estimate monthly payments and total cost on a marine loan for a new or used boat.
Loan Parameters
$
Monthly Payment
$478
- Total Interest
- $36,009
- Total Cost
- $86,009
- Payoff Year
- 2041
Term Comparison
3 yr
$1,567
$6,405 interest
4 yr
$1,221
$8,591 interest
5 yr
$1,014
$10,829 interest
6 yr
$877
$13,120 interest
7 yr
$779
$15,462 interest
Typical Boat Loan Rates & Terms
- Typical APR
- 7%–10% for new boats with good credit; rates rise quickly for older hulls
- Typical Term
- 5 to 20 years; longer terms common for boats over $50k
Tips for Boat Loans
- Most marine lenders cap loans at 20 years and require boats older than 10 years to be financed for shorter terms.
- Annual ownership cost (slip fees, insurance, maintenance, winterization) is often 10–20% of the boat's value — budget separately from this calculator.
- Marine surveys are standard for boats over $25k. Lenders may require one before approving the loan.
- Boat loans are secured, but resale is harder than cars, so down-payment requirements (15%–20%) are typically higher.
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Frequently Asked Questions
- 7%–10% for new boats with good credit; rates rise quickly for older hulls. Your actual rate depends on your credit score, loan term, down payment, and the lender. Always shop at least three lenders before signing.