Funding for marine diesel repowers, covering the engine, gearbox, mounts and the yard labour needed to get the boat running again.
Whole-of-market — 60+ lenders searched, including
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.
Used kit: Rarely — funders strongly prefer new engines with warranty, as a used marine diesel with unknown hours carries risk they cannot easily value.
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Business asset finance is quoted on a flat rate, so that is what this shows — with the equivalent APR underneath, because the two are not the same number. A quick guide only; your actual rate depends on the asset, term, deposit and lender.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 6.0% flat rate (equivalent to 11.5% APR representative), you would repay around £646 a month; total amount repayable approximately £31,000, of which £6,000 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval. CW Asset Finance is an Appointed Representative of Rural Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630701).
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.
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| 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 |
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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.
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Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
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.
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.
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.
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.
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.
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Not an offer of finance. All finance is subject to status, affordability and lender approval.
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
Prefer to talk? Call 07581 364281 · serving Leeds, York, Harrogate, Wakefield, Selby, Tadcaster & across North & West Yorkshire.