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Boat Loan Calculator

Calculate a boat loan's monthly payment, amount financed, sales tax, fees, and total cost — or find the boat price you can afford from a target payment.

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Boat Price

ExampleSample values — edit any field to see your result.

$
%

Annual percentage rate (APR).

Cash paid at purchase. Switch to % for a share of the boat price.

Results update as you type.

Monthly Payment

$325.10

Estimated result

Total Loan Amount
$28,000.00
Sales Tax
$2,887.50
Upfront PaymentDown payment, plus sales tax and fees when those are not rolled into the loan.
$12,687.50
Total of Loan Payments
$39,012.45
Total Loan Interest
$11,012.45
Total CostBoat price + interest + sales tax + fees.
$51,699.95

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Principal vs interest

Principal 72%, Interest 28%
  • Principal72%
  • Interest28%

Compare scenarios

Keep a baseline, then change an assumption to see its effect side by side.

Amortization schedule

PeriodInterestPrincipalBalance
Year 1$1,896.49$2,004.75$25,995.25
Year 2$1,751.57$2,149.68$23,845.57
Year 3$1,596.17$2,305.08$21,540.49
Year 4$1,429.53$2,471.71$19,068.78
Year 5$1,250.85$2,650.39$16,418.39
Year 6$1,059.26$2,841.99$13,576.40
Year 7$853.81$3,047.44$10,528.96
Year 8$633.51$3,267.74$7,261.22
Year 9$397.28$3,503.96$3,757.26
Year 10$143.98$3,757.26$0.00
Monthly Payment$325.10

Work out the real cost of financing a boat. In the Boat Price tab, enter the purchase price to get your monthly payment; in the Monthly Payment tab, enter a target payment to find the price you can afford. Both account for down payment, trade-in, sales tax, and fees such as title, registration, and a trailer.

Examples

$35,000 boat, $7,000 down, 10 years at 7%

With 8.25% sales tax and $2,800 in fees paid upfront and no trade-in, you finance $28,000. That's a monthly payment of about $325.10, $11,012.45 in total interest, $12,687.50 due upfront (down + tax + fees), and a total cost of $51,699.95.

Working backward from a $350 payment

Switch to the Monthly Payment tab: a $350 payment over 10 years at 7%, with the same $7,000 down and $2,800 fees, corresponds to a boat price of about $37,144.

Rolling tax and fees into the loan

On the $35,000 boat, checking Include all fees in loan finances $33,687.50. The monthly payment rises to about $391.14, upfront cash drops to the $7,000 down payment, and total cost is about $53,937 — more overall because you pay interest on the tax and fees.

Formula

First the amount financed is determined, then it is amortized into equal monthly payments. Sales tax is applied to the full boat price:

Sales tax       = tax% × boat price
Amount financed = boat price − down payment − trade-in
                  (+ tax + fees, if rolled into the loan)
Monthly payment = financed × r / (1 − (1 + r)⁻ⁿ)     r = APR ÷ 12,  n = months
Total cost      = boat price + interest + sales tax + fees

The Monthly Payment tab inverts this: it converts your target payment back to an amount financed, then solves for the boat price (including a percent down payment, if you entered one).

Rolling taxes and fees into the loan reduces your upfront cash but means you pay interest on them — paying them at purchase is cheaper overall. A trade-in cuts the loan, not the sales tax, on this calculator.

Costs this estimate does not choose

Enter the tax rate and purchase fees from the relevant authority, seller, or lender. The default values are examples. The calculation does not determine taxability, title or registration charges, insurance, storage, maintenance, fuel, marina costs, survey requirements, or lender eligibility. It assumes a fixed-rate loan with equal monthly payments and no prepayment charge.

Frequently asked questions

How is a boat loan's monthly payment calculated?
The amount you finance (boat price − down payment − trade-in, plus sales tax and fees if you roll them in) is amortized over the term using M = P · r / (1 − (1 + r)⁻ⁿ), where r is the monthly rate (APR ÷ 12) and n is the number of months.
Does a trade-in lower my sales tax on a boat?
This calculator always applies the entered rate to the full boat price and subtracts a trade-in only from the financed amount. If the applicable jurisdiction uses a trade-in credit, tax cap, different taxable base, or separate use tax, calculate that amount with the authority's rules because this form cannot reproduce every treatment.
Should I include taxes and fees in the boat loan?
Rolling sales tax and fees into the loan lowers the cash you need at purchase but increases the amount financed, so you pay interest on them. Paying them upfront costs more now but less over the life of the loan.
What does the Monthly Payment tab do?
It works backward: enter the monthly payment you can afford along with the term, rate, down payment, and fees, and it returns the boat price that fits that budget.
What ongoing costs should I plan for besides the loan?
Insurance, maintenance, fuel, marina or dry storage, and gear. For a mid-sized boat around $30,000, annual ownership costs of $3,000–$7,000 on top of the loan are common. Lenders typically want 10–20% down and offer terms of 2–20 years.

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