Advanced Boat Loan Calculator 2025

Boat loan terms are often longer than car loans. While shorter terms of 5-7 years exist, it's common to see terms of 10, 15, or even 20 years for larger, more expensive boats. Longer terms result in lower monthly payments but higher total interest costs.

A larger down payment is always beneficial. It reduces the amount you need to borrow, which lowers your monthly payments and the total interest you'll pay. Lenders typically require a down payment of 10-20% for a boat loan.

You can often roll the sales tax into your loan amount. While this avoids a large out-of-pocket expense at purchase, it means you'll be paying interest on the tax amount over the life of the loan, increasing your total cost.