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Boat Loans Calculator PDF Print E-mail
Boat loans are very different based on the lender and what type of boat you are getting, but there are a lot of different factors which can affect how much your boat loan costs. Using a boat loan calculator can really help you figure out how much the boat loan is really going to cost so you can help yourself to budget what kind of boat you are getting and how long the boat loan will be.

Boat loan calculators calculate the monthly cost of the boat loan based on a number of different factors which includes the total price of the boat, the interest of the boat, and how long the boat loan is in affect until it is paid off. The shorter the loan, the higher the monthly payments will be. Higher the interest, higher the payments, and etc.

Boat loan calculators can be found on most boat lenders web sites and are always free of charge. Doing a quick search on a search engine, you should be able to find a quick and easy to use boat calculator for yourself.

It is a great idea that you use a boat calculator before getting the boat loan because comparing the competition can always help you get the best rate and you want to make sure that you will be able to afford the monthly payments as well.

Loan Calculator Information

This calculator will allow you to figure out your boat payment on different loan amounts, interest rates, taxes, and insurance.

Easy 5 Step Process:
1) Enter the amount of the loan you will need.
2) Enter the current interest rate for the loan.
3) Enter the number of years the loan will be financed.
4) Enter the sales tax rate for your state.
5) Enter the amount of the boat insurance policy.

Note:
Downpayments are usually between 10% and 20%.
Fixed rate loan terms are often 10, 15 or 20 years.

Boat Loan Calculator


Use this calculator to help you determine your monthly boat loan payment or your boat purchase price. After you have entered your current information, use the graph options to see how different loan terms or down payments can impact your monthly payment. You can also examine your complete amortization schedule by clicking on the "View Report" button.

This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN's Java(TM) Plug-in. This can be done simply, and boatmatically, by clicking the link below:

Get the Java(TM) Plug-in!

Definitions


Monthly payment
Monthly payment for your boat financing.

Total purchase price (before tax)
This is the total cost of your boat purchase. Include the cost of the vehicle, any additional options and any destination charges. Don't include sales tax in this amount. Sales tax will be calculated for you and included in your total after tax price.

Term in months
Number of months for this loan.

Interest rate
Annual interest rate for this loan.

Cash down
Total amount of cash used in this purchase. The larger your cash down payment the smaller the loan you will need to finance this purchase.

Trade allowance
The total amount that you are given for any boatmobile that you trade-in as part of this purchase. In some states a trade-in can also reduce the amount of sales tax you will owe. See the definition for "Sales tax deduction for trade-in" for more information on trade-in vehicles and sales tax.

Amount owed on trade
Total loan balance still outstanding on the trade-in.

Non-taxable fees (optional)
Any additional fee that is not subject to sales tax. This usually includes document fees or any other fees that may be due at delivery and are not taxable.

Taxable fees (optional)
Any additional fee that is subject to sales tax. This usually includes title transfer fees or any other fees that may be due at delivery and are taxable.

Sales tax rate
Sales tax percentage rate charged on this purchase.

No sales tax deduction for trade-in
If you live in a state where your sales tax is calculated on your full purchase price, check this box. If this box is unchecked, sales tax is calculated on the purchase price less trade in. Currently California, the District of Columbia, Hawaii, Maryland, and Michigan allow no deductions for trade-ins when calculating sales tax. In addition, Alaska, Delaware, Montana, New Hampshire, and Oregon have no sales tax on boats.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.