Boat Loan Calculator

Thinking about buying a boat?

Use our handy boat loan calculators to approximate what your monthly payment would be as well as how much you can afford.

Use the first calculator to get an estimate on what your monthly payment will be when financing a boat.

Boat Loan Amount: Enter the total amount including taxes that you plan to finance. Take the all in cost of the new boat minus any down payment you plan to put and enter that amount here.

Loan Term: Enter in a term to pay your loan off of 1 to 20 years.

Loan Interest Rate: Enter in the interest rate you believe you will pay. If you are unsure, read our FAQ on Interest Rates below.

Result: We’ll tell you what your monthly payment will be and the amount of interest you will pay over the term of your loan

Boat Loan Payment Calculator


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Monthly Payment

Total Interest You'll Pay




The second calculator here will give you an estimate on how much of a total loan you can afford based on what you can afford monthly.

Monthly Payment You Can Afford: Enter in the amount including all taxes and fees, so the total amount you believe you can afford each month on a loan payment.

Loan Term: Enter in a term to pay your loan off of 1 to 20 years.

Loan Interest Rate: Enter in the interest rate you believe you will pay. If you are unsure, read our FAQ on Interest Rates below.

Result: We’ll tell you the amount of loan you can afford based on the monthly payment you have noted you can afford each month along with the total interest you will pay over the term of the loan. Keep in mind that this is just the loan portion of your boat financing – you can add your down payment to this amount to get to your max affordability.

Boat Loan Affordability Calculator


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Loan Amount

Total Interest You'll Pay

Frequently Asked Questions

How long are boat loan terms?
Boat loan terms are typically 10 to 20 years, however they can also be just a few years as well.

The longer terms are usually used to spread the cost of expensive boats across a time horizon that allows for reasonable monthly payments.

The longer the term, the more interest you will pay – similar to a mortgage or car loan.

What are typical interest rates on boat loans?
Interest rates are highly dependent on your personal credit profile.

Rates typically range between 4% to 7% however there are a number of factors including the down payment and loan term that will also play into what interest rate you will qualify for.

Do I need to put a down payment?
Typically lenders will require a down payment of 10 – 20%, however this varies from lender to lender. Down payments once again tie into credit scores – usually the better your score, the less down you will be required to put.

Other factors such as the loan amount and age of the boat will also play a part in determining down payment.

Where do I get a boat loan?
Usually, the best place to start is at your dealer.

They have relationships with lenders and can guide you to the most appropriate lender for your circumstances.

You can also go directly to your bank or credit union where you already have an existing financial relationship, however not all institutions will finance boat purchases.

Please note that these calculators are for informational purposes. We make no claims or warrants in regards to the calculators here and provide them to get approximate numbers on loan payments and affordability.