Fidamen

Boat Loan Refinance Calculator

This calculator helps boat owners evaluate whether refinancing makes financial sense and shows how switching to bi-weekly payments changes payment amounts and payoff speed. Use the refinance comparison to see periodic payments, total cost including financed fees, expected interest saved, and difference in term length.

The bi-weekly demonstration mode models 26 payments per year (common accelerated bi-weekly approach) and compares it to a standard 12-payment-per-year monthly schedule so you can see the extra annual payment effect and potential acceleration of payoff.

Updated Nov 29, 2025QA PASS — golden 25 / edge 120Run golden-edge-2026-01-23

Governance

Record 920b7e72ee6c • Reviewed by Fidamen Standards Committee

Compute periodic payments and total cost for your current loan and for a proposed refinance (fees optionally treated as financed). Shows interest and total-payment savings plus time difference.

Inputs

Results

Updates as you type

Current periodic payment

$592.87

Refinance periodic payment

$221.88

Total cost remaining (current loan)

$28,457.94

Total cost with refinance (includes financed fees)

$28,844.56

Net savings by refinancing

-$386.62

Interest savings

$113.38

Time saved (years)

-1

OutputValueUnit
Current periodic payment$592.87USD
Refinance periodic payment$221.88USD
Total cost remaining (current loan)$28,457.94USD
Total cost with refinance (includes financed fees)$28,844.56USD
Net savings by refinancing-$386.62USD
Interest savings$113.38USD
Time saved (years)-1years
Primary result$592.87

Visualization

Methodology

Periodic payment calculations use standard amortization: periodic_rate = APR / periods_per_year; payment = (periodic_rate * principal) / (1 - (1 + periodic_rate)^(-number_of_periods)). If periodic_rate is zero, the principal is divided evenly across periods.

Refinance analysis treats refinance_fees as additional principal for the purpose of computing the refinance periodic payment and total paid. The calculator reports both total paid and interest components so you can see the fee trade-off.

Key takeaways

Use the refinance comparison to assess whether lower APR and different term offset refinance fees. Always compare total-cost figures (total paid) and interest paid, not just the periodic payment size.

The bi-weekly demonstration shows the typical accelerated effect of 26-payments-per-year schedules; actual results depend on whether your lender posts payments immediately and whether extra payments are applied to principal.

Worked examples

Example 1: Current balance $25,000, 6.5% APR, 4 years remaining (monthly). Refinance to 5.0% APR for 5 years with $500 fees financed. The tool computes current and new periodic payments, total paid, and net savings after including financed fees.

Example 2: Demonstration: $25,000 at 5.0% APR over 5 years. Monthly payment vs bi-weekly (26/year) payment are shown along with extra annual payment that accelerates payoff.

F.A.Q.

Does this calculator include taxes, insurance, or late fees?

No. This tool models principal and interest only. Taxes, insurance, penalties, or other contract fees are excluded unless you include them in refinance fees or principal inputs.

Is the bi-weekly option always better?

Not always. Bi-weekly schedules can accelerate payoff if they result in more money paid per year (e.g., 26 half-payments). Check total annual paid and lender posting rules. This calculator shows the extra annual payment and estimated acceleration, but confirm with your lender how they apply bi-weekly payments.

How accurate are the results?

Results are estimates for planning only. Rounding, compounding conventions, payment posting timing, and lender fees can change outcomes. See the accuracy and standards citations for technical limitations.

Sources & citations

Further resources

External guidance

Versioning & Change Control

Audit record (versions, QA runs, reviewer sign-off, and evidence).

Record ID: 920b7e72ee6c

What changed (latest)

v1.0.0 • 2025-11-29 • MINOR

Initial publication and governance baseline.

Why: Published with reviewed formulas, unit definitions, and UX controls.

Public QA status

PASS — golden 25 + edge 120

Last run: 2026-01-23 • Run: golden-edge-2026-01-23

Engine

v1.0.0

Data

Baseline (no external datasets)

Content

v1.0.0

UI

v1.0.0

Governance

Last updated: Nov 29, 2025

Reviewed by: Fidamen Standards Committee (Review board)

Credentials: Internal QA

Risk level: low

Reviewer profile (entity)

Fidamen Standards Committee

Review board

Internal QA

Entity ID: https://fidamen.com/reviewers/fidamen-standards-committee#person

Semantic versioning

  • MAJOR: Calculation outputs can change for the same inputs (formula, rounding policy, assumptions).
  • MINOR: New features or fields that do not change existing outputs for the same inputs.
  • PATCH: Bug fixes, copy edits, or accessibility changes that do not change intended outputs except for previously incorrect cases.

Review protocol

  • Verify formulas and unit definitions against primary standards or datasets.
  • Run golden-case regression suite and edge-case suite.
  • Record reviewer sign-off with credentials and scope.
  • Document assumptions, limitations, and jurisdiction applicability.

Assumptions & limitations

  • Uses exact unit definitions from the Fidamen conversion library.
  • Internal calculations use double precision; display rounding follows the unit's configured decimal places.
  • Not a substitute for calibrated instruments in regulated contexts.
  • Jurisdiction-specific rules may require official guidance.

Change log

v1.0.0 • 2025-11-29 • MINOR

Initial publication and governance baseline.

Why: Published with reviewed formulas, unit definitions, and UX controls.

Areas: engine, content, ui • Reviewer: Fidamen Standards Committee • Entry ID: 8677c525371d