⚓ Outboard Motor Finance Calculator
Estimate monthly payments, total interest & full loan breakdown for your outboard motor purchase
| Loan Amount | Term (Months) | APR 7% | APR 9% | APR 12% | Total Interest (9%) |
|---|---|---|---|---|---|
| $3,000 | 24 | $134/mo | $137/mo | $141/mo | $288 |
| $5,000 | 36 | $154/mo | $159/mo | $166/mo | $724 |
| $8,000 | 48 | $191/mo | $199/mo | $210/mo | $1,552 |
| $12,000 | 60 | $238/mo | $249/mo | $267/mo | $2,940 |
| $20,000 | 60 | $396/mo | $415/mo | $444/mo | $4,900 |
| $30,000 | 72 | $456/mo | $481/mo | $517/mo | $10,632 |
| $50,000 | 84 | $752/mo | $805/mo | $876/mo | $27,620 |
| Credit Tier | Score Range | Typical APR | Max Loan Term | Down Payment | Approval Odds |
|---|---|---|---|---|---|
| Excellent | 750+ | 5.9–7.5% | 84 months | 10% | Very High |
| Good | 700–749 | 7.5–9.5% | 72 months | 15% | High |
| Fair | 650–699 | 9.5–12% | 60 months | 20% | Moderate |
| Poor | 600–649 | 12–16% | 48 months | 25% | Low |
| Sub-Prime | Below 600 | 16–24% | 36 months | 30%+ | Very Low |
| Boat Length | Boat Length (m) | Recommended HP | Motor Weight (lb) | Motor Weight (kg) | Typical Use |
|---|---|---|---|---|---|
| 8–10 ft | 2.4–3.0 m | 2–5 HP | 30–55 lb | 14–25 kg | Dinghy / Jon boat |
| 10–14 ft | 3.0–4.3 m | 6–15 HP | 55–100 lb | 25–45 kg | Tinny / Canoe |
| 14–17 ft | 4.3–5.2 m | 25–60 HP | 100–250 lb | 45–113 kg | Bass / Aluminum |
| 17–20 ft | 5.2–6.1 m | 75–150 HP | 250–440 lb | 113–200 kg | Center Console |
| 20–24 ft | 6.1–7.3 m | 150–225 HP | 440–600 lb | 200–272 kg | Sport / Offshore |
| 24–28 ft | 7.3–8.5 m | 225–350 HP | 600–800 lb | 272–363 kg | Offshore / Twin |
| 28+ ft | 8.5+ m | 300–600 HP | 800+ lb | 363+ kg | Commercial / Charter |
New Outboard Motor commonly costs a lot, what can feel very sad, specially if you do not have enough money. Even so the cause is clear: the options for funding grew a lot, and now it does purchase of new engine more real for most many folks. Although the price seems to be the main fence, it not necessarily must be like this.
Many of the main makers of Outboard Motor engines launched their own programs for lending. For instance, Honda Marine bid options, that will not cause you grimace, and you can enter your numbers online to see, what monthly payments expect you. They loan money for engines, ships and trailers, everything under one tent.
How to Pay for a New Outboard Motor
Moreover, the services of Honda Finance gives a bit of flexibility, they even offer zero percent lending for cases of refill. For new, unused engines of Honda (of 2 horses until 350 horses), exist also bids, although you require good credit and buy at approved store.
Yamaha chose other path by means of his program based on credit card. It works as line of credit, from that you can take many times, what gives to you space for breathing when you must repay. The best part?
The application is free, the approval comes quickly, and it counts for new and used engines of Yamaha, together with accessories and repair work. They also bid loans at 5.99% yearly interest for 72 months on new, unused Outboard Motor engines.
Mercury also simplify the refill of engines to escape financial troubles. They give rates at 4.99% for 36 months for new engines of 2.5 until 425 horses. You do not require big deposit; only 10 percent is enough to start.
Suzuki is other player in that feild. Special lenders involve themselves with funding for Suzuki maritime usage, and one from them bid five year treaty with six years of guarantee for almost 200 dollars monthly.
Away from the particular marks, exist other lenders. Some businesses loan for engines of any maker. That includes four stroke inboard engines, electric or propane Outboard Motor, diesel or gasoline systems (whatever you require), probably some can fund it.
The secret is find that, what truly answers to your budget without too removing you.
The interest goes all over the chart between the lenders, and those differences affect your whole loan expense. Longer loan period lowers your monthly payment, but in the end you pay more interest. Depending on your location and credit history, the rates can reach around 10 percent.
Banks sometimes have weird rules. One lender met problem, his bank refused to fund only the engine, because in his state Outboard Motor engines do not have separate title. So they had to add the body to the packet.
Even so, funding only for engines exist through special maritime businesses, whatopens options for folks with older ships.
