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School of Finance: A Lesson in Boat Loan Calculators

Free Boat Finance Calculator

Who doesn’t like something for FREE! And when you add easy to use, easy to access and no obligation, the boat finance calculator represents an awesome resource.

The boat loan calculator will easily calculate the estimate monthly repayments on any boat loan. And it is so simple to use, most people don’t need even need a lesson, just a few pointers.

The boat loan calculator is an online resource so you can use it from the comfort of your home, office, workplace – or your boat!

Whenever and wherever you have connectivity you can estimate your loan payments.

From your PC, laptop, tablet or smart phone.

Open this link in a new browser so you can go through the steps as you read these pointers

Boat Loan Calculators

It’s set out in standard online form format to make it easy to follow and understand. No special skills are required.

And before you get started – it’s free to use and there’s no obligation to proceed with any loan you calculate via the calculator.

More on Calculators at Wiki

There are four sets of data for you to enter and vary:

The total loan amount or amount you want to borrow.

  • If you’re paying a deposit then deduct that from the purchase price. You may like to allow for some extras such as first year boat rego and insurance in your loan package, so include an estimate of those in the loan you wish to borrow.

The interest rate.

  • If you’re not familiar with boat loan interest rates you can either contact us and ask or you can simply calculate your repayments at a few different rate levels so have a range of options.
  • The calculator offers a range from 5% to 17.95%

The loan term.

  • This is the number of months/years you would like to repay the loan. This can varied to suit your requirements. A longer loan term reduces the monthly repayment figure and shorter term increases the amount.

The residual or balloon.

  • Some boat loan products include a residual or balloon element which is payable at the end of the loan term. This is set at a percentage of the total loan and is fixed when the loan is established so you know from the offset what amount you will have to pay to finalise the loan.
  • You can vary this on the calculator

Once you’ve completed these steps you will receive an estimate on the monthly repayments for that loan

If it is outside your budget expectations, vary some of the elements and see how they change the final monthly estimate.

This is to be used as an estimate only as it does not take into account any fees and charges which may applicable to your particular boat loan.

  • Great way to set your boat expectations
  • Great way to set your budget expectations
  • Great way to compare boat loan quotes
  • Great way to review your current loan or to refinance
  • Great negotiating tool – calculate your monthly repayments while you’re at the marina with the dealer or seller and be better prepared to make the purchase.

 Follow these links to a boat loan calculator

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