Monthly boat payments?

Question

Approx. how much are boat payments on charter boats or yachts between 30 and 60 feet?

Answer 1

Here is online yacht loan calculator for you - http://www.yachtcouncil.com/yacht-loan-c...

But range from 30 to 60 feet is very big, it is totally different classes of boats in it.

Answer 2

Big Boats are expensive to buy and insure.  The cost would depend on your down payment and assets and ability to pay.  It will be very costly.  You most likely would have to put down about 25% of the cost to get a mortgage on a big boat for a business.  Unless you have a going business and want to update.  Go to the nearest boat show in your area.  They are on now, this time of year and they will answer all your questions.  Good Luck.

Answer 3

You've left a LOT out of the equation here... and "between 30 and 60 feet" is a BIG range.

You could buy a used 30' boat and outfit it for charter fishing for  under $30,000... easily. And you could buy a new 60' sportfish and outfit it for charter fishing... for well over $2 million.

Furthermore, what is the term of the loan? 5 years? 15? 30?

What is the interest rate? What is the down payment?

Answer 4

In my way of thinking the decisions are:

1st   Type of boat Sportfisherman / Open / Cuddy / Cabin

2nd  Length

3rd  Quality (bayliner $< Grady White)

4nd Power package (gas$<deisel More efficent long run)

5th  Outfitting highend / lowend rods reels

6th  insterst rate and duration of loan

For work/charter purposes long term cost effectiveness I recommed marine desiels 30-35' class 10 year old good quality Sport fisherman cost about $150,000 rigged and in good order.

Do the numbers on the loan based on your credit.  You will also need liability insurance and a captains rating to charter for hire....it is not something you jump into.  

The state of the economy means boats are cheap, loans are expensive and fewer people spend money on fishing charters

Good luck.