Work out the real cost of financing a boat. In the Boat Price tab, enter the purchase price to get your monthly payment; in the Monthly Payment tab, enter a target payment to find the price you can afford. Both account for down payment, trade-in, sales tax, and fees such as title, registration, and a trailer.
Formula
First the amount financed is determined, then it is amortized into equal monthly payments. Sales tax is applied to the full boat price:
Sales tax = tax% × boat price
Amount financed = boat price − down payment − trade-in
(+ tax + fees, if rolled into the loan)
Monthly payment = financed × r / (1 − (1 + r)⁻ⁿ) r = APR ÷ 12, n = months
Total cost = boat price + interest + sales tax + fees
The Monthly Payment tab inverts this: it converts your target payment back to an amount financed, then solves for the boat price (including a percent down payment, if you entered one).
Rolling taxes and fees into the loan reduces your upfront cash but means you pay interest on them — paying them at purchase is cheaper overall. A trade-in cuts the loan, not the sales tax, on this calculator.
Examples
$35,000 boat, $7,000 down, 10 years at 7%
With 8.25% sales tax and $2,800 in fees paid upfront and no trade-in, you finance $28,000. That's a monthly payment of about $325.10, $11,012.45 in total interest, $12,687.50 due upfront (down + tax + fees), and a total cost of $51,699.95.
Working backward from a $350 payment
Switch to the Monthly Payment tab: a $350 payment over 10 years at 7%, with the same $7,000 down and $2,800 fees, corresponds to a boat price of about $37,144.
Rolling tax and fees into the loan
On the $35,000 boat, checking Include all fees in loan finances $33,687.50. The monthly payment rises to about $391.14, upfront cash drops to the $7,000 down payment, and total cost is about $53,937 — more overall because you pay interest on the tax and fees.