Here is the most accurate Boat payment calculator to know how much EMI you need to pay if you take a boat finance loan. You need to add the Loan Amount, Term of loan, and Interest rate to get the Monthly payment for your Boat Loan.
How our Boat loan calculator works.
Our boat loan calculator helps the borrower know how much payment to do monthly for the boat loan. you simply have to enter the Loan amount, No of years, and interest rate to calculate the monthly EMI payment.
How much does the boat cost
The cost of a boat varies depending on boat type, size, and new or used. The average cost of the boat is from $60000 to $100000.
Below is the cost of a New boat and a Used Boat with different Types and Sizes
| Boat type | Size | New boat price | Used boat price | Common use |
| Jon boat | 8 to 24 feet(2.5 – 7.3 m) | $500 to $5,000 | $500 to $1,000 | Fishing |
| Fishing boat (aluminum) | 18 feet (5.5 m) | $5,000 to $200,000 | $3,000 to $150,000 | Fishing |
| Catamaran | 40 to 45 feet(12 – 13.7 m) | $10,000 to $600,000 | $10,000+ | Sailing |
| Sailboat | 30 to 35 feet(9 – 10.5 m) | $12,000 to $500,000 | $20,000 | Cruising, Leisure |
| Bowrider boat | Under 20 feet(<6 m) | $15,000 to $100,000 | $10,000 to $25,000 | Cruising, crabbing, fishing |
| Pontoon boat | 18 to 25 feet(5.5 – 7.6 m) | $19,000 to $90,000 | $8,000 to $50,000 | Fishing, cruising |
| Bass boat | 16 to 25 feet(5 – 7.6 m) | $20,000 to $90,000 | $15,000 to $40,000 | Catching bass fish |
| Houseboat | 45 to 100 feet (13.7 – 30.5 m) | $20,000 to $1,000,000 | $20,000 | Housing |
| Airboat | 16 feet (4.9 m) | $30,000 to $100,000 | $5,000 to $40,000 | Fishing and ecotourism |
| Fishing boat (fiberglass) | 16 to 25 feet(5 – 7.6 m) | $30,000 to $250,000 | $10,000 to $200,000 | Fishing |
| Speedboat | 20 to 30 feet(6 – 9 m) | $30,000 to $75,000 | $20,000 | Watersports |
| Cuddy cabin boat | 18 to 28 feet(5.5 – 8.5 m) | $30,000 to $200,000 | $10,000 to $100,000 | Cruising |
| Trawler | 80 to 90 feet (24.5 – 27.5 m) | $90,000 to $500,000+ | $50,000+ | Fishing |
| Cabin cruiser | 25 to 45 feet(7.6 – 13.7 m) | $100,000 to $500,000 | $20,000 to $300,000 | Cruising |
| Yacht | 30 to 100+ feet(9 – 30.5 m) | $500,000 to $10,000,000 | $300,000 to $10,000,000 | Cruising |
What are average boat loan interest rates?
Boat loans are installment loans with fixed interest rates over the whole tenure of the loan. The average boat loan interest rate is 10.6%. Depending on the credit score the interest rate can range from 3% to 36%.
What is a typical boat loan term?
The typical boat term would be 15 to 20 years with a downpayment of 10 to 30% depending upon the loan amount you borrowed.
What credit score is needed to buy a boat
Most lenders easily approve loans with a credit score of 700 or higher. You can buy a boat with a lower credit score, which might lead to a higher interest rate.
Can you pay off the boat loan early?
yes, you can pay off the boat loan early which may lower the overall interest rate. on the other side not paying the loan on time may lead to a penalty.
How much does a 100k boat cost per month?
If you are buying a $100k boat then the average interest rate would be 10.6%. if you took a loan for a tenure of 20 years then you need to do a repayment of $1005.11 every month.
How much is a 30000 boat payment
The monthly payment for a $30,000 boat loan in the USA can vary based on the loan term and interest rate. Here are a couple of examples:
Shorter Term (4 years):
Interest Rate: 15%
Monthly Payment: Approximately $835
Total Interest Paid: $10,076
Longer Term (8 years):
Interest Rate: 15%
Monthly Payment: Approximately $538
Total Interest Paid: $21,683.