Boat loan calculator

Boat Loan Repayment Calculator

How to use the boat loan calculator

Once you have found a loan that you want to use for your calculations, simply enter the details of that loan in the relevant fields on the calculator.

• Loan amount. If you have a boat already in mind, then you can enter that boat's value as your loan amount. You need to make sure the loan amount you're after is within the limits set by the lender.
• Interest rate (p.a.). Remember that your final interest rate may differ from the lowest rate advertised. You can try putting in a few different rates to see the highest rate you'd be comfortable with. If it's a variable rate, keep in mind that this could fluctuate throughout the loan.
• Loan term. The length of time you're able to borrow the money for will differ between lenders, but it will generally be for a period of between 1 and 7 years. The longer your loan term, the lower your repayments, but the more you'll be charged over the life of the loan.
• Repayment frequency. Lenders will usually allow you to select your own repayment frequency so you can match it with the frequency at which you get paid. This will normally be a choice between weekly, fortnightly or monthly repayments.
• Repayment type. You may be able to choose whether to make principal and interest or interest-only repayments for your boat loan.

Work out your borrowing power

You might have your eye on a boat, but before you apply for the boat loan to buy it, it's important to know if you're likely to be approved for the amount you want.

Input your desired loan details with your income and expenses into this borrowing power calculator to see how much you could borrow.

Costs of owning a boat

Some people look into financing options for their boat without really understanding the actual costs that will be involved. All of these costs need to be considered when you use the calculator as they should be budgeted for along with the cost of your repayments. Here is a breakdown of some of the costs you can expect:

• Boat purchase

The cost will vary depending on the type and size of boat you buy, but generally boats cost in excess of $30,000.

• Startup costs

These costs involve the purchase of accessories such as ropes and anchors, safety training for yourself and boat lifts to be installed at the marina.

• Recurring costs

These include costs that you will be required to pay regularly, including insurance, maintenance, cleaning, boat licences and any continued training.

Comparison of boat loans

5 of 5 results

Checked 10 October 2026

Loan amount

$

Loan term

years

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Finder Score	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
Not scored yet Stratton Finance Boat Loan Fixed1 - 5 Years $10,000 - $200,000	Not scored yet	Interest Rate (p.a.) 6.73% to 18%	Comp. Rate (p.a.) 7.23% to 18.5%	Application Fee $700	Monthly Fee $8.90	Monthly Repayment $645.5	ContinueView details Compare product selection Compare	loading
Not scored yet Driva Boat Loan Fixed1 - 7 Years $2,000 - $250,000	Not scored yet	Interest Rate (p.a.) 6.99%		Application Fee $0 - $500	Monthly Fee $10	Monthly Repayment $642.89	ContinueView details Compare product selection Compare	loading
7.1 Great NAB Unsecured Fixed Rate Personal Loan Fixed1 - 7 Years $5,000 - $55,000	7.1 Great	Interest Rate (p.a.) 7.5% to 22%	Comp. Rate (p.a.) 8.54% to 22.88%	Application Fee $0	Monthly Fee $15	Monthly Repayment $637.12	Go to siteView details Compare product selection Compare	loading
Not scored yet Latitude Boat Loan Fixed2 - 7 Years $5,000 -	Not scored yet	Interest Rate (p.a.) 9.99% to 29.39%	Comp. Rate (p.a.) 11.66% to 30.97%	Application Fee $395	Monthly Fee $16.50	Monthly Repayment $674.49	ContinueView details Compare product selection Compare	loading
Not scored yet RACV Boat Loan Fixed1 - 7 Years $5,000 - $100,000	Not scored yet	Interest Rate (p.a.) 10.89% to 17.69%	Comp. Rate (p.a.) 11.44% to 18.47%	Application Fee $499	Monthly Fee $0	Monthly Repayment $670.04	ContinueView details Compare product selection Compare	loading

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How we picked these

Finder Score for car loans

To make comparing car loans even easier we came up with the Finder Score. Interest rates, fees and features across 200+ car loan products and 100+ lenders are all weighted and scaled to produce a score out of 10. The higher the score, the more competitive the product.

Read the full methodology

How can the calculator help me?

If you input all of your loan information and find that the loan is too expensive to manage, you can use the calculator to see if you can save money somehow. Here are a few ways to adjust the loan:

• Make your repayments more frequently. By making weekly rather than monthly repayments you may be able to reduce the amount of interest you pay over the course of the loan.
• Choose a loan with a lower interest rate. When you’re calculating your repayments you may find that choosing a loan with a lower rate or even opting for a variable rate loan might save you money. Keep in mind that variable rates will fluctuate.
• Use the comparison rate to compare. Instead of using the advertised rate to compare your options, look at the comparison rate. This will give you an idea of what you’ll actually end up paying, with other fees and costs of the loan included.

Use the values from your calculations above to help you compare a range of loans available for boats.

What to do after using the boat loan calculator

After you've used the boat loan calculator, if you have found a loan that you think works for you, and you have a boat in mind that you would like to purchase, it's time to apply for a loan. However, before doing so, you should check the:

• Eligibility criteria

Ensure that you meet the lender's set eligibility criteria. You can check what this is by clicking "More info" on any of the loans shown on this page.

The eligibility criteria you will usually be required to meet includes:

• Be 18 or older
• Have a regular, verifiable income
• Be a citizen or permanent resident of Australia
• Have an acceptable credit history
• Restrictions

Is the loan that you wish to apply for able to cover the costs of the type of boat you want to buy? For example, some boat loans may only lend funds for new boat purchases. If you're looking to buy a used boat, you may have to find a different loan.

• Finance amount

Does the loan you want offer the right amount of funding for your boat of choice?

If you're happy with all of the above, you can click "Go to site" to be taken to the lender's website directly to submit a loan application.

What else you'll need to apply for a boat loan

Once you've done your calculations and found the right loan, you'll need to prepare for the application.

To fill out a loan application, you may need the following documentation:

• Driver's licence
• Details of your employer and employment history
• Bank statements or online banking information
• Details of assets that you own
• Information about any other loans or credit you have
• Information regarding your expenses and bills

If you're securing the loan against the boat you're buying, you'll also need details of that.

For more information on boat loans and to help find to best loan for your circumstances, you can also visit our boat loans guide.


Why compare personal loans with Finder?

Addicted to details. We know taking out a personal loan is something you'll be hooked up with for a while. That's why we put hours into research for this guide (and still do at least once a month)
Rates obsessed. Lenders come in all shapes and sizes, that's why we don't just track the big banks, but all the digi folk too. Pretty much everyone but your parents to be honest.
Cash for whatever you need. Lending rates verified from 180+ products day and night. Whether you're buying a car, rennovating your home or heck just ready to let loose with the spending - we got you.

Frequently asked questions about the boat loan calculator

• What is the difference between a secured boat loan vs an unsecured boat loan?

  A secured boat loan is one where you use the boat you're buying as collateral. If you fail to meet your repayments, the lender can take the boat to recoup the loan costs. You'll probably receive a lower interest rate because of the reduced risk to the lender, but you face more risk yourself.

  An unsecured boat loan won't risk your asset if you can't repay, but you'll probably have a higher interest rate and may not be able to borrow as much as if it was a secured loan.
  

• What is a good interest rate for a boat loan?

  A good interest rate is usually a lower interest rate, but you also want to make sure you're getting good features and flexibility too.

  Many car loans can also be used as boat loans, as they're typically for multiple vehicle types. The lowest interest rates start from just under 6%. But whether you'll receive the lowest rate depends on your credit profile.
  

• What if I can't afford my boat loan repayments?

  If you can't afford your boat loan repayments, the lender will still need to recoup the cost of the loan. They may try to work with you to help you pay back the loan, but if you continue to be unable to pay they'll take further steps.

  If you've got a secured boat loan, the lender will repossess your boat and sell it to get the money back. If you've got an unsecured boat loan, the lender will pass you on to a debt collection agency.

  Either way, your inability to repay will be put on your credit file and it will negatively affect your credit score.
  

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