Boat loan monthly payment calculator

Thinking of buying a boat? Use our calculator to find out how much you might owe based on your loan amount, term and interest rate. This can help you compare offers to find the best deal for you.

How to use this boat loan calculator

1. Enter how much you want to borrow under Loan amount.
2. Type in your loan term in years (not months) under the Loan terms field.
3. Enter the loan’s interest rate if it doesn’t come with any fees under Interest rate. If your loan does come with fees, enter the annual percentage rate (APR), which includes interest and fees combined.
4. Click Calculate.
5. Review your results.

Not only will our calculator show your monthly repayments, but also how much you’ll pay in interest over the life of your loan.

Compare loans for your new boat

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Product	Finder Score	APR	Min. credit score	Loan Amount
Promoted Best Egg personal loans	Finder score 8.6 Great	7.99% to 35.99%	640	$50,000	Fast and easy personal loan application process. See options first without affecting your credit score.	Go to siteView details Compare	loading Fetching your data...
Promoted LightStream personal loans	Finder score 9.7 Excellent	6.94% to 25.79%	Good to excellent credit	$100,000	Borrow up to $100,000 with low rates and no fees.	Go to siteView details Compare	loading Fetching your data...
Promoted Credible personal loans	Finder score 8.6 Great	6.94% to 35.99%	Fair to excellent credit	$200,000	Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.	Go to siteView details Compare	loading Fetching your data...
Achieve personal loans	Finder score 6.8 Standard	8.99% to 29.99%	620	$50,000	Consolidate debt and more with these low-interest loans. Cosigners welcome.	Go to siteView details Compare	loading Fetching your data...
Upstart personal loans	Finder score 8.3 Great	6.7% to 35.99%	300	$50,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to siteView details Compare	loading Fetching your data...

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Bottom line

When you’re choosing a loan to finance your new boat, knowing how much you’ll pay in the short and long run is crucial to figuring out which is the best deal. You can learn more about the different offers out there by reading our guide to boat loans.

Need to calculate something different? Check out our full list of personal finance calculators.

Frequently asked questions

• What is the average interest rate for a boat loan?

  Interest rates depend on both your lender and credit history, but they usually start somewhere between 4% and 6%. The lowest rates are typically reserved for those with high incomes and excellent credit.

• How long can I get a boat loan for?

  Since boats can be pricey, the average term for a boat loan is typically longer than that of your average personal loan, clocking in anywhere from seven to 15 years. Though some lenders might offer terms as long as 20 years.

• What credit score do I need for a boat loan?

  Because boat loan amounts can be rather high, lenders typically require good credit for you to qualify. It’s best to have a credit score of at least 700 if you want to get approved for the most competitive rates.

Written by

Ezra Wolfgang

Graduate publisher

Ezra Wolfgang was a video producer at Finder, helping people compare providers to choose the best for their needs. Prior to joining Finder, Ezra interned on the assignment desk at ABC News in New York, where he helped find, develop and write breaking news stories. Ezra earned a BA in media studies from Hunter College, taking a healthy dose of courses in film and documentary production, print and digital reporting and studio television. In his spare time, Ezra goes on the occasional run, takes photos, writes scripts and shoots his own tiny, short films. See full bio