Loan Calculator

Boating is more affordable than you think. In some instances, you can buy a brand new boat financed for around $250.00 a month, like a car. Boats provide tax deductible and cost effective second homes. Interest on a boat loan can be deducted if the boat has a galley, berth and head. If you know what your monthly budget amount is to buy a boat, put that in the monthly window and work backwards to determine how much in total price you can afford. Or, if you know the cost of the boat you want, put that amount in the total window to determine monthly payment.

Monthly Payment
Total Loan Amount

1 Enter your loan amount: $
2 Select interest rate: %
3 Select loan term: years

Calculate Your total loan amount: –

1 Enter your desired monthly payment: $
2 Select interest rate: %
3 Select loan term: years

Calculate Your total loan amount: –

Loans under $25,000 are based on 6-7% rate for 10-12 years
Loans $25,000 to $75,000 are based on 5.5% to 5.99% for 15 years
Loans of $75,000 and over carry rates in the low to mid-5% range for 15-20 years

Please note: Calculations are for example purposes only, do not include destination charges, title, or other fees and incentives, assume an excellent credit rating and have no bearing on any loan approval. Estimated payments are based on standard industry data; the values that apply to your purchase are likely to vary. Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. By using this program you acknowledge that the National Marine Bankers Association (NMBA) shall not be responsible for any damages resulting from the use of the Loan Calculator by you or any other person, however caused.

To determine typical interest rates and terms, call a National Marine Bankers Association member, and visit one of their websites.

Loan Calculator

Financing Your Boat