Boat Loan Calculator
Calculate your monthly boat payments, total cost of ownership, and compare financing options for your marine purchase.
Your Details
Enter boat price, down payment, rate, and term. Optionally add trade-in, fees, taxes, and annual ownership costs (insurance, maintenance, storage, fuel) to see your monthly payment, total cost of ownership, cost breakdown chart, term comparison, and amortization schedule.
Monthly Loan Payment
$0.00
Total monthly cost: $0.00
Loan Amount
$0
Total Interest
$0
Total Payments
$0
Total Cost of Ownership
$0
Cost Breakdown
Compare Loan Terms
| Term | Payment | Interest | Total |
|---|
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|
Complete User Guide
What is the Boat Loan Calculator?
This calculator estimates your monthly boat payment and total cost of marine financing. Enter the boat price, down payment (as a dollar amount or percentage), interest rate, and loan term. You can add trade-in value, sales tax, registration and documentation fees, and annual ownership costs (insurance, maintenance, storage, fuel).
Results include your estimated monthly loan payment, total monthly cost (loan + ownership), loan amount, total interest, total payments, total cost of ownership, a cost breakdown chart (principal, interest, taxes/fees, ownership), a term comparison table, and a full amortization schedule.
Key Metrics
Monthly Loan Payment
The fixed amount you pay each month toward the loan. Shorter terms mean higher payments; longer terms mean lower payments but more total interest.
Total Interest
The total cost of borrowing. A lower rate or shorter term reduces this amount.
Loan Amount
Boat price plus sales tax and fees, minus down payment and trade-in equity. This is what you finance.
Total Cost of Ownership
Everything over the loan term: purchase price, tax, fees, interest, and annual costs (insurance, maintenance, storage, fuel). The true cost of owning the boat.
How to Use This Calculator
- Enter the boat purchase price and choose down payment as amount ($) or percent (%).
- Enter the interest rate (APR) and select the loan term in years/months.
- Optionally enter trade-in value and payoff amount on the trade.
- Set sales tax rate, registration fees, and documentation fees.
- Enter annual ownership costs: insurance, maintenance, storage, and fuel.
- Click Calculate to see monthly payment, total cost, charts, term comparison, and amortization schedule.
Understanding Your Results
Trade-in equity
Trade-in value minus amount owed. Positive equity reduces the amount you finance.
Total monthly cost
Your monthly loan payment plus your share of annual ownership costs (insurance, maintenance, storage, fuel) spread over 12 months. Use this to budget.
Term comparison
The calculator shows how your payment and total interest would change at other common terms (e.g., 3, 4, 6, 7, 10, 15, 20 years) so you can compare options.
Understanding the Chart
Cost breakdown: The doughnut chart shows how your total cost is split among principal (the loan amount), interest (cost of borrowing), taxes & fees (sales tax, registration, documentation), and ownership costs (insurance, maintenance, storage, fuel over the loan term).
Important Notes
- Results are estimates. Actual rates and terms depend on your credit and lender. Marine loans often have different terms than auto loans.
- Ownership costs (insurance, storage, maintenance, fuel) can be significant. Include them when budgeting.
- Compare offers from marine lenders, banks, and credit unions. Consider a larger down payment to reduce interest and monthly payment.