How the boat loan calculator works
Enter the boat price, down payment, trade-in, interest rate, term in months, and your yearly insurance and storage costs. The calculator works out the fixed loan payment, then adds one-twelfth of your yearly insurance and storage for the total monthly cost.
The formula
Loan amount = price − down payment − trade-in; loan payment M = P × r(1+r)^n / ((1+r)^n − 1); monthly cost = M + yearly insurance/12 + yearly storage/12.
Fuel, maintenance, registration and slip or mooring fees are not included unless you add them to storage.
Frequently asked questions
How long are boat loans?
Often longer than car loans — terms of 10 to 20 years are common on larger boats. Try different terms in the calculator.
Why include insurance and storage?
They are regular costs of owning a boat and can add a meaningful amount to every month.
Does the trade-in lower the loan?
Yes — it is subtracted from the amount financed, like a down payment.
Results are estimates for planning, not financial advice. Last reviewed 2026-09-28.