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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Name	Product	APR	Minimum credit score	Max. Loan Amount
Best Egg personal loans		8.99% to 35.99%	600	$50,000	A prime online lending platform with multiple repayment methods.	Go to site View details	Compare	loading Fetching your data...
Upstart personal loans		6.5% to 35.99%	300	$50,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to site View details	Compare	loading Fetching your data...
Bankrate		4.98% to 35.99%	Poor to excellent credit	$100,000	Go to site View details	Compare	loading Fetching your data...
Achieve personal loans		7.99% to 29.99%	600	$50,000	Consolidate debt and more with these low-interest loans. Cosigners welcome.	Go to site View details	Compare	loading Fetching your data...
Upgrade personal loans		7.96% to 35.97%	620	$50,000	Affordable loans with two simple repayment terms and no prepayment penalties.	Go to site View details	Compare	loading Fetching your data...
LightStream personal loans		5.99% to 23.99%	Good to excellent credit	$100,000	Borrow up to $100,000 with low rates and no fees.	Go to site View 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.