Calculate your monthly boat payment and see the true cost of marine financing.
Boat loans typically run 10-20 years with rates from 5-10% depending on credit, boat age, and loan amount. New boats under $100k often qualify for better rates. Boats over $100k may qualify for a marine mortgage with tax-deductible interest.
The "rule of 10%" suggests annual boat maintenance costs about 10% of the purchase price. A $50,000 boat costs roughly $5,000/year in storage, insurance, maintenance, and fuel — on top of loan payments.
| Credit | New Boat | Used Boat |
|---|---|---|
| Excellent (750+) | 5.5% - 6.5% | 6.5% - 8% |
| Good (700-749) | 6.5% - 8% | 8% - 10% |
| Fair (650-699) | 8% - 12% | 10% - 15% |