Boat Loan Calculator

$ 0.00/mo*

Cost of Boat I want

What's Your Credit Score?

Exceptional (800+)

Choose Your Loan Term

240 months

What is Your Down Payment?

No SSN Required. No impact on your credit report.

*Taxes and charges are not included in your estimated amount. This amount may be different than financing terms found throughout boatzon.com

*Based on a NaN% APR

Boat Loan Calculator

Use Boatzon's Boat Calculator to help you finance the boat you love and click the button below to pre-qualify for your loan.

Getting a boat loan with Boatzon is easy, fast, and gives you peace of mind.

check icon No SSN required to pre-qualify

check icon Our Pre-Qualification has no impact on your credit report

check icon Approvals as fast as 24 hours

Boatzon Boat Calculator Overview

If you need a boat loan to cover the purchase of a new or used boat, the Boatzon loan calculator can help you determine what type of boat you can afford.

Use this boat loan calculator to estimate the cost of a personal loan used to finance a boat. Enter your expected loan amount, your estimated credit score, your down payment, and desired loan term months to see your estimated monthly payments.

Your estimated monthly payment for your loan will be displayed in the field above the calculator. If you are happy with your monthly payment calculation, proceed to the next step by clicking the "Get Pre-Qualified Now" button.

Cost of Boat or Loan Amount

This is the amount you expect to borrow. Boatzon offers secured and unsecured loans. Unsecured loans can be as high as $100,000, while secured loans can be up to 25 million. Keep in mind, taxes and charges may not be included in your estimated loan amount. This amount may be slightly different than financing terms at closing.

APR

The annual percentage rate is the interest rate you expect to get on the loan. Some factors that determine your APR on a boat loan include whether it is a secured or unsecured loan, your credit score and history, your income, and existing debts or trade lines.

Down Payment

You can choose to pay an amount as a down payment for the boat purchase. In most cases, you’ll need to put 10-20% down on your purchase.

Loan Term

This is how long you think you’ll need to repay the loan. Unsecured loans often have repayment terms of two to seven years; secured boat loan terms can be as long as 20 years. Longer repayment terms typically mean lower monthly payments, but you'll pay more in total interest. A shorter loan term could reduce your costs in the long run, but it will likely raise your monthly payments.

Credit Score

Typically, a credit score of 700 and above is ideal for a boat loan, but a score in the upper-600 range should not be an issue. Many lenders can provide loans even if you have bad credit. However, you may have higher interest rates, lower loan amounts and repayment terms. Typically, anything under 630 is considered a bad credit rating and tend to have higher loan rates. Many lenders allow cosigned loans or join applications. These are loans where someone with better credit co-signs the loan with you. However, the person who cosigned for the loan is also responsible for the loan so if you default on the payment, it could hurt their credit as well as your own.

Your Pre-Qualification

Boatzon conducts a soft credit pull and does not negatively impact your credit report. Furthermore, your social security number is not required for this pre-qualification process. Boatzon pre-qualification quotes are based on information provided, your actual APR rate and loan term may vary based on the credit application review by the lender(s). Rates may vary based on FICO score, loan to value, open trade lines, as well as the model year and type of vessel.

Frequently Asked Questions

How Does Boatzon Work?

Boatzon allows you to receive personalized loan offers in seconds without affecting your credit score. Basically, when you apply for a loan for a boat, engine, trailer, or products you fill out an application form with Boatzon. Then, Boatzon shares that information with its network of marine lending partners. The Boatzon prequalification process uses what is called a soft pull to gather information from your credit report. This prequalification process does not affect or impact your credit score. Then, Boatzon partner marine lenders send their loan offers to Boatzon which displays them for you. Boatzon’s lenders offer loans in amounts ranging from $5000-$10,000,000 to help you find the funds you need. After you pick an offer, apply with the lender that offers the best rate and terms for your situation to get the loan process started. Please note, when you finalize your application process and loan with select lenders or banks, they may conduct a hard credit pull to verify your credit profile and identity which may impact your credit score.

You are not yet approved or pre-approved for a loan or a specific rate. Please click ‘Pre-Qualify Now’ to complete your application to see what participating lenders can offer you. Your APR may differ based on loan purpose, amount, term, and your credit profile. Excellent credit is required to qualify for lowest rates. Some rates are quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option may be higher. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Not a commitment to lend.

Above quotes are based on information provided, actual rate and term may vary based on credit application review by lender. Subject to consumer loan program requirements and credit approval. Individual rate may vary based on vehicle titling, FICO score, loan to value, loan amount, loan term, model year and type of vessel. Rates and terms may vary with market conditions and are subject to change without notice. Lowest rates require excellent credit.

You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process.

Unsecured Versus Secured Loans

The main difference between an unsecured and secured loan is that an unsecured loan does not require the borrower to put up any collateral such as the boat purchased. Unsecured loans sometimes make a purchase easier and requiring less documents. The bad news is that because the loan is unsecured, the lender is taking a bigger risk on the borrower and will typically have higher interest rates.

Generally, annual percentage rates range from 6% to 36%, and terms range from two to seven years. These loans are attractive to borrowers who do not have assets like a car or a house, but still want some financial assistance to purchase a boat.

Secured loan requires the borrower to put up some form of collateral. Secured loans typically use the purchased boat as collateral. While it is riskier for the borrower to put up an asset that the bank can seize if you default on the debt, interest rates are lower, borrowers have a higher borrowing amount, and longer repayment terms (month terms) are available. With a secured boat loan, you may also need to make a down payment, which means you’ll need cash up front.

What If I Have Bad Credit?

Many lenders can provide loans even if you have bad credit. However, you may have higher interest rates, lower loan amounts and repayment terms. Typically, anything under 630 is considered a bad credit rating and tend to have higher loan rates.

Many lenders allow cosigned loans or join applications. These are loans where someone with better credit co-signs the loan with you. However, the person who cosigned for the loan is also responsible for the loan so if you default on the payment, it could hurt their credit as well as your own.

General Terms and Conditions

LightStream Terms and Conditions:

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. Truist Bank is an Equal Housing Lender. © 2022 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank. You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process. After receiving your loan from us, if you are not completely satisfied with your experience, please contact us. We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100. Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan. Truist teammates do not qualify for the Loan Experience Guarantee.

Upgrade Terms and Conditions:

Personal loans made through Upgrade feature APRs of 5.94% - 35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at .

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