Will a bank finance a brand new boat without a motor? I'd like to buy a Ranger RT, and put an old school 2stoke on it.
Will a bank finance a brand new boat without a motor? I'd like to buy a Ranger RT, and put an old school 2stoke on it.
Guess my question will go unanswered !
Originally Posted by igloo
I see your question. Very busy time of year getting things out. Sorry for the delay.
Most lenders like to have boat, motor and trailer. Owning the motor does not really change anything for the lender, they will still want a lien. The loan would be for the new boat and trailer and the model year of the engine. The whole package would have a lien with the lender. I know it sounds bad but if the bank needs to come get it, they take all three. They will not show up with wrenches to drop the engine.
Should be able to help.
Let us know if we can help.
Thank you,
Ken
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