Free calculator
Boat Loan Calculator
This boat loan calculator turns a price, down payment, rate, and term into a monthly payment, then totals the interest and the overall cost of the boat.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: Loancalculated may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: Loancalculated may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
How this calculator works
A boat loan is usually a fixed-rate installment loan secured by the vessel. The amount financed is the price minus your down payment.
Payment = P × i ÷ (1 − (1 + i)−n)
- P — the amount financed after the down payment
- i — the monthly rate (annual rate ÷ 1,200)
- n — the number of monthly payments
Total interest = payment × n − P, and the total cost adds the down payment back in. If the down payment covers the price, nothing is financed and the payment is zero.
Marine lenders price on loan size, boat age, and credit, so enter the rate you were quoted.