First,how much do you expect to spend on your boat motor?
Financing A New Boat Motor
Boat motors are not cheap, with even 10 horsepower models costing thousands of dollars. If you need a big outboard, you are in for a big financial hurt, which is where outboard motor financing comes in.
Luckily, it is easy to get cash financing for hunting gear, even if you have bad credit. Here is all that you need to do.
First, look at the top of the page and find the quote form. Enter in how much you expect to need to borrow and then some information about yourself. It is pretty generic stuff, so it should not take you too long to complete the form. At the end of the form, you will also need to enter in your bank information. This is because, if you accept a loan, that is how your lender will send you the money. More on this later.
Once you completer your form, you can submit it and wait for an answer. Most answers come quickly, so you will not be waiting long. If approved for a loan, one lender will make you an offer and you will be sent to their individual website in order to review the terms of this offer.
When you arrive at the lender website, be sure to thoroughly review the loan offer. The last thing that you want to do is blindly rush in because you are excited about getting a new outboard motor. Remember, not all loans are good ones and if you have bad credit, the offer is likely to have some harsh terms.
Buying A New Outboard
Here is where online financing gets interesting. If approved for a loan and you accept it, your lender will deposit cash money into your bank account. You can then take this money and buy your motor just like any other cash buyer. That has a number of advantages.
Shop Anywhere
The biggest advantage is that you can shop anywhere that you like. That let’s you get just the motor that you want and allows you to shop for the best deal. If you were approved by a single local dealer, you would have to deal with their inventory and their prices. Most big dealers will not budge much on price, especially if you have bad credit and they know you have few choices.
Buy Used
If you really want to save, you may even be able to find a gently used outboard motor on the used market. Boats get wrecked, it happens and when they do, the owners or the insurance companies need to part them out. That can allow you to score a great deal on a motor with lots of life left on it.
Buying used means that you have to have cash though and that is what an online loan will give you.
Buy The Extras
One final great thing about having cash in hand is that you can use the extra to buy whatever you like. Have money left over? Buy a new fish finder, new knee board or whatever you like. Your lender does not care what you spend your money on. This would be an unsecured loan, so you can buy whatever you like.
Got Questions?
Hopefully, by now you, you know all that you need to know. If not, we have some of the more common questions that people ask. If you still need information, please feel free to contact us with the contact form.
- Are you a direct lender?
No, we are not direct lenders and this is a good thing for you. Instead, we get you access to a larger group of lenders, which is important if you have bad credit. - What rate will I get?
That is between you and your lender. We do not make loan decisions and can not guarantee a rate or even if you will be approved. - What can I use the money for?
Anything you like. Buy an outboard motor and use the rest for boat gear or whatever you like. Once it hits your account it is your money. - When will I get my loan proceeds?
That depends on your lender, but most may be able to get you the money by the next business day.
