Budget for ownership, not just the loan
Mooring, insurance, maintenance and fuel can add a lot to the monthly cost of a boat, so leave room for them when choosing a payment.
Worked example
£600 a month at 8.5% over 10 years would repay about £48,392.68, with £23,607.32 of interest. Add your deposit to see the boat price you could afford.
Before you buy
This is an estimate. Lenders make their own decision based on your full circumstances and credit history.
Inputs for the boat loan affordability calculator
Monthly payment you can afford
What you could comfortably repay each month after your other outgoings.
Interest rate (per year)
The annual interest rate on your loan. The rate shown is only an example, so enter the rate from your quote.
Term
How many years you'd repay over. A longer term lets you borrow more for the same payment but costs more interest.
CALCULATOR QUESTIONS
Boat loan affordability calculator questions
How much boat can I afford?
Enter the payment that fits your budget above, then add your deposit.
What running costs should I allow for?
Mooring or storage, insurance, maintenance and fuel.
Does a longer term help?
It lets you borrow more for the same payment but costs more interest.
Is this a guarantee?
No. The lender decides.