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Length of Boat Loans. Fixed rate boat loan terms are available from 15, 20 years, the terms available are based on the amount you are looking to borrow. The rate of your boat loan is determined by many key factors outside of your credit score.
Comparing short-term vs. long-term rates can be helpful. Let's say you just purchased a new boat with an outstanding balance of $50,000. At 11 percent fixed, a $50,000 loan for 20 years would come out to $516 per month with a total of $73,863 in interest.ach point is approximately 1 percent of the total amount borrowed and up to three points may be assessed. On a $50,000 loan, this amounts to $1,500. You have two options on points. You can pay the $1,500 in cash directly to the lender or add the amount into the first three years of payments.