Inboard engine finance
Funding for marine diesel repowers, covering the engine, gearbox, mounts and the yard labour needed to get the boat running again.
- FCA regulatedAppointed Representative, FRN 1031964
- 60+ lendersWhole-of-market panel, not one bank
- 5.0 from 19 Google reviews
- No credit checkEnquiring leaves no mark on your file
Yes. A marine inboard repower can be funded on its own, which is often the sensible route when a sound hull has an engine at the end of its life. Funders will usually cover the engine, gearbox, control and instrument package and the installation labour, because a crated engine sitting on a pallet is worth far less than one properly installed and commissioned. Used engines are rarely funded. The point owners miss is that once the engine is bolted into the boat it becomes part of that vessel, so the funder wants the hull identified on the agreement from the start.
Who finances this
Narrowboat and river cruiser owners whose original engine has finally given up, sailing yacht owners replacing a tired saildrive, and small commercial operators repowering a hull they intend to keep for another decade. The trigger is nearly always a winter lift-out where the yard delivers bad news, or a planned refit booked with a boatyard for the off-season. Owners generally want the work done and paid for in a way that does not swallow the year’s savings in one go.
How lenders see it
A repower is an unusual shape for a funder because the asset loses its independent identity the moment it is installed, and that is exactly why the marine panel handles it better than a general equipment lender would. Expect the funder to want the yard’s quotation covering engine, gearbox and labour, the engine serial number, and the hull the engine is being fitted into recorded on the agreement. Where the boat is a leisure craft owned by an individual, the agreement may be regulated. There is no registration document to note an interest against, so the funder relies on the invoice trail, the boat registration entry and confirmation that no prior marine mortgage sits over the vessel.
Buying used
Rarely, funders strongly prefer new engines with warranty, as a used marine diesel with unknown hours carries risk they cannot easily value.
Also in boat and marine finance
See everything we fund in boat and marine finance →
Machines we have funded
| Beta Marine Beta 43 | Inland waterways diesel engine |
|---|---|
| Beta Marine Beta 75T | Canal and river inboard diesel |
| Nanni N4.50 | Marine diesel for cruisers |
| Nanni T4.200 | High output marine diesel engine |
| Vetus M4.56 engine package | Engine, gearbox and drive package |
| Vetus E-Line electric drive | Electric inboard propulsion package |
| Volvo Penta D2-60 saildrive | Yacht auxiliary and saildrive leg |
| Volvo Penta D4-320 shaft drive | Motor cruiser repower package |
| Yanmar Marine 4JH45 engine | Sailing yacht inboard diesel |
| Yanmar Marine 6LY440 engine | Planing boat inboard diesel |
Can the installation labour be funded as well as the engine?
Usually yes, and it should be. An uninstalled engine has little value to anyone, so funders in this market are used to covering the yard quotation as a whole. Get the boatyard to itemise engine, gearbox, ancillaries and labour on one document. One itemised quotation also prevents arguments about scope once the work begins.
Do I need to own the boat outright to repower it?
Not necessarily, but if the boat is already on finance the existing funder needs to know, since the engine becomes part of their security. It is usually simplest to discuss both agreements together rather than discover the conflict halfway through the refit. The yard will usually want its own confirmation that the work has been authorised.
Will a lender fund a reconditioned engine?
Occasionally, if it comes from a recognised marine engineer with a warranty. A rebuilt engine from an unknown source is very hard to place because the funder cannot value it or verify what was actually done. New with warranty is a much simpler route. Ask what warranty is offered and who stands behind it if the engine fails early.
Can a commercial boat repower be funded differently?
Yes. A workboat or charter vessel repower is assessed on the trading income and the downtime the work avoids, which is a stronger case than a leisure purchase and opens up commercial funders who would not touch a private boat. Quantify the downtime avoided, because that figure often justifies the whole project.
What happens if the yard finds more work once the engine is out?
It happens often, and it is worth telling us early. Additional work such as a new stern gland, shaft or exhaust can sometimes be added, but it is far easier to structure before the agreement is drawn than to bolt on once the funds have been released.
Tell us what you need
About a minute of plain questions, and no documents to dig out.
Prime is established and profitable with clean credit. Specialist covers newer businesses and credit that needs explaining, the asset carries part of the risk, so finance is often available where an unsecured loan is not.
Illustrative only, not a quote, a flat rate is not an APR, so the APR on a given agreement will be higher. VAT and fees excluded.
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One adviser from your first enquiry to the money in your account. No call centres.
Your adviser
Conor HullMon to Fri, 9am–6pm
5.0 from 19 Google reviews
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