Boat loan calculator
Boat price, down payment, rate and length: see the payment and the cost of the loan, with no hidden tax.
Result
545.03Each month
- Amount borrowed
- 48,000.00
- Number of months
- 120
- Interest cost
- 17,403.63
- Cost of the loan (interest + fees)
- 17,903.63
- Everything you pay in total
- 77,903.63
Year by year
Detailed table
| Year | Principal repaid | Interest paid | Left to pay |
|---|---|---|---|
| 1 | 3,524.12 | 3,016.24 | 44,475.88 |
| 2 | 7,284.27 | 5,796.46 | 40,715.73 |
| 3 | 11,296.23 | 8,324.86 | 36,703.77 |
| 4 | 15,576.88 | 10,584.57 | 32,423.12 |
| 5 | 20,144.22 | 12,557.60 | 27,855.78 |
| 6 | 25,017.44 | 14,224.74 | 22,982.56 |
| 7 | 30,217.03 | 15,565.51 | 17,782.97 |
| 8 | 35,764.85 | 16,558.06 | 12,235.15 |
| 9 | 41,684.21 | 17,179.06 | 6,315.79 |
| 10 | 48,000.00 | 17,403.63 | 0.00 |
How it is calculated
- Amount borrowed = price − down payment.
- Payment = P × i ÷ (1 − (1 + i)^−n), where i = rate ÷ 12.
- Cost of the loan = interest + fees.
Example
Boat at 60,000, 12,000 down: you borrow 48,000 at 6.5% over 10 years, about 545.04 a month.
Good to know
- No tax, registration or insurance is added.
- Upkeep, mooring and fuel are not counted.
- An estimate: only the lender’s offer counts.
Frequently asked questions
What is this tool used for?
Boat price, down payment, rate and length: see the payment and the cost of the loan, with no hidden tax.
How is the result calculated?
Amount borrowed = price − down payment.
What should I check before using the result?
No tax, registration or insurance is added.