The monthly loan payment is the number dealers put on the whiteboard. It is not the number that leaves your account.
BoatCost treats ownership as two piles: fixed costs that show up whether you launch or not, and variable costs that scale with hours.
Fixed costs
- Principal and interest on the loan
- Insurance
- Slip, dry stack, or a trailer
- Winterization in cold climates
- Registration
Most of this bill shows up whether you launch or not. That is why a boat that “only” costs $650 a month on paper can be $1,100 once it is in a slip.
Variable costs
- Fuel, estimated from horsepower and hours
- Maintenance as a percent of boat price (higher for center consoles and PWCs, lower for pontoons and sailboats)
If you boat 20 days a year, divide the annual total by 20. That is the honest cost per outing.
Depreciation
This model drops 15% in year one and 10% each year after. It is a planning curve, not an appraisal. If the remaining loan balance in year five is above that curve, the loan is underwater in the model.
Use the ownership calculator with your listing price, then send the share link before you sign.