Financing for marine dealers
Boat buying is seasonal, emotional and large-ticket. The repower customer is the one most dealers under-serve.
In short
New and used boats, engines, trailers and repowers are all financeable, for personal, charter and municipal buyers. The repower segment is the quiet opportunity: a customer with a sound hull and a tired engine is often turned away because $18,000 in cash is not there, when it is a straightforward financed transaction.
Your counter
What your customers can finance
The route depends on the buyer, not the boat.
| Buyer | Purchase | Right program |
|---|---|---|
| Personal | Used boat, $10,000–$35,000 | Installment loan |
| Personal | New boat, $30,000–$80,000 | Installment loan |
| Personal | Repower, $8,000–$35,000 | Installment loan or lease |
| Personal | Trailer or accessories | Lease, or with the boat |
| Charter or commercial | Vessel and equipment | Equipment finance from ~500 FICO |
| Municipal or agency | Patrol and rescue craft | Lease-purchase from $1,500 |
Why marine
Three things specific to this showroom
Repowers are the missed sale
An engine replacement on an existing hull is a smaller, easier transaction than a new boat and most dealers never offer terms on it. It is also a service-department lead.
Seasonality cuts both ways
Spring floor traffic is concentrated. Having terms ready in March rather than arranging them in May is worth more than any single promotion.
Accessories ride along
Electronics, trailers, covers and safety equipment can go on the same agreement as the boat.
Joining
How onboarding runs
Gather documents
Business and ownership details, banking information, and photographs of your store front and interior.
Submit the enquiry
Expect an email within 12 to 24 hours to schedule a discovery call with the onboarding team.
Discovery call
We work out which programs suit your category, your ticket sizes and your customers’ credit mix.
Agreement and go live
A merchant agreement follows for review and signature, then your link, QR code and staff training.
Questions
Merchant questions
Can customers finance used boats?
Yes. Used boats, engines and trailers are financed routinely, with age, hours and survey condition affecting the term.
Can a repower be financed on its own?
Yes, and it is one of the most useful offers in this category. It does not require the customer to buy a boat.
What about charter operators?
Commercial equipment finance is the right route, with the vessel securing the transaction and profiles from roughly 500 FICO considered.
Do you handle municipal purchases?
Yes, through lease-purchase from $1,500, handled by a named account representative.
Keep reading
Related
Offer financing at your counter
No mandatory merchant fees on standard programs, no sales minimums, and one application link covering every customer who walks in.