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#11252008 - 11/29/15 12:24 PM Financing for a Re-Power
blondie Offline
Outdoorsman

Registered: 07/20/10
Posts: 163
Loc: LUBBOCK TEXAS
Is it possible to get a loan for a new engine on my older boat. I have excellent credit.

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#11252406 - 11/29/15 03:46 PM Re: Financing for a Re-Power [Re: blondie]
Dosser Offline
Extreme Angler

Registered: 01/15/10
Posts: 2258
I asked my lendor about this and the answer was yes, but they wanted to put a lien on new motor and boat as well

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#11253654 - 11/30/15 08:26 AM Re: Financing for a Re-Power [Re: blondie]
reclending.com Offline
Angler

Registered: 10/29/10
Posts: 320
Originally Posted By: blondie
Is it possible to get a loan for a new engine on my older boat. I have excellent credit.




Loans for just engines do cause some other questions to be answered. The part about having a lien currently in place does present a few more questions. Most lenders do not want to have a lien on just an engine. In BANKERS WORLD, if they would need to repo the loan, they would not want to show up with wrenches and take just an engine. I know, dumb reason by true. If there is a current loan in place, that would need to be paid off with a new loan including the engine swap.
Let us know if we can help.
Thank you,
Ken
_________________________

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#11255103 - 11/30/15 07:43 PM Re: Financing for a Re-Power [Re: blondie]
blondie Offline
Outdoorsman

Registered: 07/20/10
Posts: 163
Loc: LUBBOCK TEXAS
Thank you for answering my question. I do not have a current lien. I will definitely get with you if I decided to go that route.

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