Net Worth
$385KTop 42%PeakWorth
$4.2M+$182KNet Worth
$385KTop 42%PeakWorth
$4.2M+$182KFI Age
50y 1m-11moRecreational vehicles depreciate fast, cost 10%+ of purchase price per year to own, and rarely justify long-term financing. Run the real number first.
Typical boat loan rate
~8–11%
Annual ownership cost
~10% of purchase price
Common loan term (boat/RV)
10–20 years
First-year depreciation
20–30%
= $4,000 down · $36,000 financed
Monthly payment
$446.35
Total interest
$17,562
Total paid
$53,562
Loan term
10 years
| Year | Payments | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $5,356 | $2,388 | $2,968 | $33,612 |
| 2 | $5,356 | $2,599 | $2,757 | $31,013 |
| 3 | $5,356 | $2,829 | $2,528 | $28,185 |
| 4 | $5,356 | $3,079 | $2,278 | $25,106 |
| 5 | $5,356 | $3,351 | $2,005 | $21,756 |
Estimates only. Excludes fees, escrow changes, and tax effects. For educational purposes — not financial advice.
The loan payment is the smallest part. Insurance, storage, maintenance, fuel, registration, dock fees, and repairs typically add 10% of the purchase price every year — for a $40K boat, that's $4,000/yr before you ever leave the dock.
Run the calculator to see the loan side, then factor in 10% annual ownership costs to get the real wealth impact over 10 years.
Buy used (year 2–5 sweet spot), pay cash if possible, finance no more than 5 years if you must, and make sure the all-in monthly cost stays under 5% of take-home. Otherwise, you'll be the guy 'selling because we never use it' in 18 months.
A calculator alone tells you the payment. PeakWorth tells you what that payment costs your retirement — and how every change ripples through the next 30 years of your finances.
They're considered higher risk: depreciating asset, easier to walk away from, and typically larger balances relative to income. Credit unions usually beat banks.
Almost never. You'll pay interest long after the boat is worth less than the loan balance.
Learn guides, true-cost calculators, and audience playbooks across the PeakWorth network.
Cost of
Owning a boat
Slip, fuel, insurance, maintenance — and the FI Age math.
Cost of
Owning an RV
Storage, insurance, fuel, depreciation — and the FI Age math.
Decision guide
Financing a boat, RV, or motorcycle
High-rate loans, fast depreciation, and the FI Age cost.
Decision guide
Buying a car
New vs used, lease vs buy, payment limits.
Built for
PeakWorth for physicians
Late start, high income, six-figure debt — modeled together.
Compare
PeakWorth vs SoFi Automated Investing
SoFi’s 0.25% member robo vs the planning layer above.
PeakWorth includes every loan calculator above — connected to your real income, expenses, and goals. Every number you change updates your live FI Age and lifetime projection.
