Boat Loan Calculator
Use the LendingTree boat calculator to see how much you’ll pay for your boat
How to use this boat payment calculator
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Enter values
Type in your loan amount, estimated interest rate and loan term. Here’s how to find these numbers. -
See what you’ll pay
The LendingTree boat loan calculator shows your estimated monthly payment, total repayment and total interest paid. Total repayment and total interest paid reflect the full cost of borrowing money for your boat. -
Adjust the numbers
Play around with the numbers until you land on an affordable boat loan.
Where to get the numbers you need
Loan amount
How much you borrow (boat cost minus down payment)
Average boat loan amount offered through LendingTree: $52,347 in Q2 2025
Interest rate
Measures the cost of your loan
Average boat loan APR offered through LendingTree: 9.02% in Q2 2025
Learn how to get affordable rates.
Loan term
How long you have to pay back your loan
Typical boat loan term: 10-20 years
Use our boat loan calculator to get the loan you want
Boats are a big investment, and most people can’t afford to cover the cost upfront. The LendingTree boat payment calculator helps you explore your loan options so you can set sail with confidence. Here’s how to use it.
- See how the numbers add up. Use our boat loan calculator to see how different rates, down payments and loan terms affect your monthly payment and total cost of interest.
- Compare real boat loan offers. Plug in the numbers from any offers you’ve received and compare them side by side. Quickly spot which ones fit your budget so you can enjoy your time on the water without feeling anchored down by payments.
If the monthly payments just aren’t lining up with your budget, consider leasing a boat instead. Leasing doesn’t come with the same perks as boat ownership, but it’s often cheaper — and you won’t be responsible for as many logistics.
Get affordable boat loan rates and payments
Whether you’re looking at monthly boat payments that are out of your budget or just want to save money, it’s smart to find ways to lower your loan costs before you’re locked in to high monthly payments.
Try these expert strategies to get a cheaper boat loan:
Borrow less
In Q2 2025, the average boat loan amount through LendingTree was $52,347 — but you don’t have to borrow that much. Opting for a less expensive or used boat means a smaller loan, which can reduce both your monthly payment and the total interest you’ll pay.
Shop around
Just like you shop around for your boat to find the best price, you should shop around for your boat loan, too.
Stopping at the first boat loan offer could mean leaving hundreds or thousands of dollars on the table. You can get boat loan offers from up to five lenders at once when you fill out a form with LendingTree.
Try it out
Use the LendingTree boat loan calculator to simulate what would happen if you bought a cheaper boat. Enter the price of a used or less expensive boat model to see how much you’ll save — both on monthly payments and total interest.
You can also save on the cost of your boat loan by putting up a larger down payment, choosing the right loan term and improving your credit. More on these strategies below.
Find the right boat loan down payment
It’s common for boat lenders to require a 10% to 20% down payment, but how much should you actually put down? Here are a couple of things to consider:
- Bigger down payments make your boat loan cheaper. The less you borrow, the less money you’ll pay in interest. If you have the cash, it’s smart to put down a larger down payment on your boat.
- Smaller down payments come with risks. Putting less money down on your boat could put you at greater risk of missing payments, since your monthly payments will be higher. You’re also more likely to go upside-down on your boat loan.
LendingTree rule of thumb: Put down as much as you can comfortably afford — just make sure to consider boat loan fees in your calculations. If you can’t afford 10% on a less expensive vessel or 20% on a typical boat, save up for a larger down payment.
Try it out
Use the LendingTree boat loan calculator to estimate how much it would cost to put down 10%, 15% or 20%. Here’s what the math looks like for a 10% down payment:
Down payment = 0.1 x cost of boat
Loan amount = Cost of boat – down payment
Find the right boat loan term
You’ve read about average boat loan terms — 10 to 20 years being the average — but how do terms affect your payment? Here’s what to know:
- Shorter loan terms mean higher monthly payments, but you’ll save money on interest.
- Longer loan terms come with lower monthly payments, but you’ll pay more interest.
LendingTree rule of thumb: Choose the shortest loan term with monthly payments you can afford. Just make sure you can actually afford the monthly payments — you don’t want to risk defaulting on your loan.
Learn more about choosing the right boat loan term and how long you can finance your boat.
Try it out
Use the LendingTree boat loan calculator to play with your boat loan terms. Enter the price of the vessel you want (minus your down payment) and the average APR for your credit band into the calculator. Then try 5, 10, 15 and 20 year terms and see how your payment and the cost of interest change.
How your credit affects your boat payment
Boat lenders offer better (lower) rates to people with good credit. On the LendingTree marketplace, current boat loan rates from top lenders start at 6.24%, and the average offered APR is 9.02%.
Here are the average offered boat loan rates by credit band on the LendingTree marketplace:
| Credit score | Average APR |
|---|---|
| Excellent and very good (740+) | 8.03% |
| Good (670 – 739) | 9.78% |
| Fair and poor (669 and below) | 11.60% |
So how much does your credit score actually impact the cost of your boat loan?
Let’s say you’re borrowing $52,347 (the average amount offered through LendingTree for boat loans) over a 10-year loan term.
| Credit score | Monthly payment | Total interest |
|---|---|---|
| Excellent and very good (740+) | $635.94 | $23,966.24 |
| Good (670 – 739) | $685.41 | $29,901.96 |
| Fair and poor (669 and below) | $738.97 | $36,329.75 |
Improving your credit score from fair or poor to good could save you $53.56 on monthly payments and $6,427.79 in total interest. If you boosted your score even more to very good, you could save $103.03 on monthly payments and $12,363.51 in total interest.
Translation? Taking the time to improve your credit score before taking out your boat loan could be worth thousands of dollars.
LendingTree Spring
Don’t know your score?
Use LendingTree Spring to check your credit score for free with no impact to your credit.
Try it out
Use the LendingTree boat loan calculator to see how much you could save by improving your credit. First, use your current credit band to estimate how much you’d pay for the boat you want. Pay attention to your monthly payment and total cost of interest. Then, enter the average rate for the credit band above yours and see how much you could save.
Next steps to buy and fund your boat
Check out the best boat lenders
Find the best boat loans with expert-approved picks.
Get preapproved
Ready to set sail? Take the time to get preapproved for a boat loan before you head to the dealer to make sure you’re getting the lowest rates.
Learn from the experts
LendingTree chief consumer finance analyst Matt Schulz weighs in on what to know before buying a boat.
Budget for other costs
Your boat loan is just one of many costs of boat ownership. Budgeting for insurance, maintenance, mooring, storage and other fees will help you stay afloat financially.
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