Boat Loan Calculator

Estimate how much you’ll pay for your boat

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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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How to use this boat payment calculator

  1. Enter values. Type in your loan amount, estimated interest rate and loan term. Here’s how to find these numbers.
  2. See what you’ll pay. Our calculator shows your estimated monthly boat loan payment, but take a close look at the other numbers, too. Your total repayment and total interest paid reflect the full cost of borrowing money for your boat.
  3. Adjust the numbers. Play around with the numbers until you land on an affordable boat loan.

How to estimate your boat loan terms

Loan amount

How much you borrow

Average boat cost: $42,000 new, $10,000 used
Boat down payment: 10%-20% of boat’s purchase price

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Interest rate

The cost of your loan

Current boat loan rates start at 6.24%

leaf-icon Learn more about boat loan interest rates.

Loan term

How long you have to pay back your loan

Typical boat loan terms: 10-20 years

leaf-icon Learn more about boat loan terms.

Boat interest rates

Your credit score is one of the most important factors lenders use to determine your boat loan rates. The better your credit, the lower the rates you’ll qualify for — and the cheaper your boat loan.

Credit score rangeAverage boat loan APR
740-850 (very good to excellent)8.30%
670-739 (good)9.39%
580-669 (fair)16.04%
300-579 (poor)19.95%

Source: LendingTree internal data on closed boat loans in Q2 2025

 Don’t know your score?
Check your credit score for free with LendingTree Spring. Get expert, personalized recommendations on how to boost your score so you can get the best boat loan rates.

Use our boat finance calculator to find an affordable loan

Simulate the different scenarios below in our boat financing payment calculator to see how much you can save on your loan.

 Meet boat buyer Sarah

She’s in the market for an $80,000 cabin cruiser. She has fair credit, is prequalified for a boat loan rate of 16.04% and has a down payment of $16,000. She plans to pay off her boat over 15 years. She wants to save money on her boat loan.

Sarah’s estimated monthly payment: $941.75
Sarah’s estimated total interest: $105,515.71

Save with smaller loans

The less you borrow, the cheaper your boat loan will be. Here are two common strategies for cutting down on the upfront cost of your boat loan.

Save with the right loan term

Shorter loan terms are a smart financial move if you can handle higher monthly payments. On the other hand, stretching out your boat loan means lower monthly payments — but they come at the cost of a more expensive loan in the long run.

Save with lower rates

Your rates can make or break the bank when it comes to your boat loan. Here’s how to get lower rates so you can set sail without being anchored down by hefty monthly payments.

Next steps to buy and fund your boat

Add up cost of owning boat

Boat ownership costs more than you might think. Read our expert take on boat costs before you hit the water.

Get preapproved

Ready to set sail? Take the time to get preapproved for a boat loan before you head to the dealership to make sure you’re getting the lowest rates.

Learn from finance experts

Chief consumer finance analyst Matt Schulz weighs in on what to know before buying a boat, including which options are best for you.