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Boat Loan Calculator

Estimate boat loan payment with sales tax and fees, plus total interest over the term.

Results

Sales tax
$0
Total financed
$45,500
Monthly payment
$528
Total paid
$63,395
Total interest
$17,895

How to use this calculator

  1. Enter boat price, sales tax rate (if applicable), and any doc/registration fees.
  2. Enter APR and loan term in years.
  3. See monthly payment, total paid, and total interest.

Inputs explained

Boat price
Financed purchase amount (after down payment if applicable).
Sales tax rate (%)
Local tax on the purchase price if applicable; set to 0 if not financing tax.
Fees
Registration, documentation, or other upfront fees rolled into the loan.
APR (%)
Annual percentage rate for the boat loan.
Term (years)
Loan term in years; many boat loans run 7–15 years.

How it works

Financed amount = boat price + sales tax + fees.

Payment uses standard amortization: P × r(1+r)^n / [(1+r)^n − 1] with r = monthly APR, n = months.

Total paid = payment × months; total interest = total paid − financed amount.

Formula

Financed amount = Boat price + Sales tax + Fees
Monthly rate = APR ÷ 12
Months = Years × 12
Payment = P × r(1+r)^n / [(1+r)^n − 1]
Total paid = Payment × n
Total interest = Total paid − Financed amount

When to use it

  • Budgeting boat ownership costs before signing a loan.
  • Comparing APR/term scenarios or pre-approvals.
  • Seeing how adding fees/taxes to the loan changes monthly payment and total interest.

Tips & cautions

  • Shorter terms raise the payment but cut total interest; longer terms lower payment but increase total interest.
  • If you pay tax/fees in cash, set them to $0 here to see financed-only costs.
  • Consider insurance, storage, and maintenance separately—this tool focuses on the loan cost.
  • Assumes fixed-rate fully amortizing loan; no balloon or interest-only scenarios.
  • Does not include insurance, storage, or maintenance costs.
  • Taxability of the purchase varies by jurisdiction; confirm locally.

Worked examples

$45,000 boat, 0% tax, $500 fees, 7% APR, 10 years

  • Financed = $45,500
  • Payment ≈ $528
  • Total paid ≈ $63,360
  • Total interest ≈ $17,860

$38,000 boat, 6% tax, $750 fees, 6.5% APR, 8 years

  • Financed ≈ $41,030
  • Payment ≈ $546
  • Total paid ≈ $52,416
  • Total interest ≈ $11,386

Deep dive

This boat loan calculator applies sales tax and fees to your financed amount, then uses standard amortization to show monthly payment, total paid, and total interest.

Use it to compare APRs, terms, and whether rolling fees into the loan fits your budget before you buy.

FAQs

Should I roll tax/fees into the loan?
You can if allowed, but it increases interest. Pay cash for fees/tax if possible to keep financed cost down.
Can I include a down payment?
Enter the financed amount after your down payment. This calculator focuses on the financed portion.
Fixed vs variable rate?
This assumes fixed APR. Variable rates will change payment/interest over time.
What term should I choose?
Shorter terms cost less interest but higher payment. Compare payment vs total interest to choose your comfort level.
Does this include insurance or storage?
No. Add those ownership costs separately to your budget.

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