Marine Motor Financing?

gettingbentwithbo

Get Bent!
Mar 7, 2009
2,190
984
Riverside
gettingbentwithbo.com
Name
Bo
Boat
14' Starcraft SF SS
Is it possible to finance a small hp boat engine? I don't have a few thousand dollars to throw down at once, and would like to re-power my skiff. I would prefer not to use a credit card because of the high interest.
 
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marlyn

I've posted enough I should edit this section
Dec 18, 2005
8,991
4,208
oak hills
Name
mark
Boat
21' skiff and 12' portabote recycled from milk jugs
Anythings possible but would you want too?I cant see any small motor being financed at a cheap rate myself,maybe a personal loan from your credit union?
 

gettingbentwithbo

Get Bent!
Mar 7, 2009
2,190
984
Riverside
gettingbentwithbo.com
Name
Bo
Boat
14' Starcraft SF SS
Anythings possible but would you want too?I cant see any small motor being financed at a cheap rate myself,maybe a personal loan from your credit union?
I wasn't sure if companies offered financing for them. That's why I was asking.
 

plj46

I've posted enough I should edit this section
Jan 7, 2008
8,007
8,826
Socal
Name
john
Boat
24 ft grady white
How small of horsepower ? A 75 hp would probably get you close to 10k installed.The manufacturer might finance that.
 

knot keely

I've posted enough I should edit this section
Aug 9, 2014
778
639
36
The Bight
Name
Dan
Boat
Anderson 22 - Slingshot
How long do you need to pay it off? Plenty of CC’s offer low/0% introductory rates for 12-18mo.
 
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Pacific Jigger

You’ll never know unless you go
Sep 16, 2019
295
405
45
United States
Name
Bud
Boat
Formula 233
If your current motor is running, start saving up.
We’re all in different circumstances and it’s a free country but boats and motors should not be financed, in my considered opinion.
Most loan structures for boats and motors put you instantly upside down on value to financed amount unless you make a very significant down payment, especially if buying new.
In the event of an economic downturn, boats and motors are one of the first things people try to unload at a time when very few are buying.
Cash is king.
 

Long Beach Bob

I've posted enough I should edit this section
May 13, 2004
397
465
73
Long Beach and points due west
Name
Bob Ballew
Boat
2520 Parker with twin 200 Yamahas
Probably cheaper interest wise if you can do a credit union refi on a vehicle (about 1.9 to 2.5 percent) currently. I buy auction vehicles on my Costco credit card (nice cash rebate each year), then, once registered, I refi them at my credit union and pull out cash at a low rate to reinvest for a higher return...it's one way to compound your wealth building ability....
...With the low rates, now, is also a great time to refi a home and pull out some cash, often, with a lower rate than you currently have...We are dong a refi on our home (3.25%) and our rental (3.50%) to raise cash to buy a foreclosure property and stocks down the road if this virus thing continues. You can make money when the market is up (sell) and when the markets are down (buy), especially in Calle-forn-ya, land of optimistic but, short memory people...If none of the above helps, google "Honda dealers", Yamaha dealers, etc, as they often offer financing if you buy new..just a higher rate..
 
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MATTANZA

old man of the sea, in training.
Aug 23, 2004
5,432
2,911
Cali the state of confusion, the state of shock
Name
RICK
Boat
Boston Whaler 25' Outrage "MATTANZA II", 34' Radovcich "AMY ANNE" {when it needs to be fixed}
they all offer financing and will give rebates sometimes. you normally need to put 20-30 percent down. my wife bought my motor and financed it for me. we got a 1500 rebate from merc. the guy that said don't buy a merc bought a trophy , lol. the motor co's don't finance it , a third party does. the rate will be kind of high, so refi into a low int loan with your own bank. we went from 9% to 2%. when we refied. i pay 100+ bux a month for my motor.
 

Long Beach Bob

I've posted enough I should edit this section
May 13, 2004
397
465
73
Long Beach and points due west
Name
Bob Ballew
Boat
2520 Parker with twin 200 Yamahas
Banks are not your friend....we belong to 1 bank plus 2 non-profit credit unions..One credit union will offer good deals on one thing (cars), while the other may offer the best deals for real estate...Like boat insurance, it pays to shop around...:)