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Old 01-21-2008, 03:50 PM
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Question financing power

Can anyone direct to a engine builder that has financing and will stand behind what they build? I'm looking for a pair of around 800 hp motors and possibly a pair of konrad drives rigged in my boat I have a 4150 stinger with one 420hp and a 620hp now(long story) currently have borg warner trans and trs drives. thanks
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Old 01-21-2008, 04:47 PM
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No engine builder is going to finance his engines. No way to put a lien on them, impossible to prevent you from selling them to someone else before they are paid for.
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Old 01-21-2008, 06:24 PM
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Griff, who's to stop someone who buys a 60" plasma from Best Buy on credit from selling it and keeping the cash?

Red Corvette, I was under impression that some will do it by using a secondary source to extend a line of credit, like Capital One, HSBC, etc. Can't point you to any engine builders though, haven't had a boat to use one for yet.
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Old 01-21-2008, 06:25 PM
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http://www.govictorymarine.com/

FYI - I've never done business with them

You could also do a home equity LOC
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Old 01-21-2008, 07:06 PM
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Originally Posted by baddogz28 View Post
Griff, who's to stop someone who buys a 60" plasma from Best Buy on credit from selling it and keeping the cash?

(
Having worked for a consumer finance company years ago, I can firmly say it happens
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Old 01-21-2008, 08:50 PM
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I have several customers who pay when they can, however they don't get the engines until they are done. Unfortunately, I don't have the means to float a pair of engines for an extended period of time. All of my money is in parts and building a new shop for now. I do however, stand behind everything I build. I will be glad to build them as your funds allow, but that is the best I can do. Hope this helps, Eddie.
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Old 01-21-2008, 09:05 PM
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Seems like builders would realy benifit from there own in house financing like most merchants have done to sell there stuff. Seems like you could put a lean on the boat,car, whatever.They make high end credit cards with no colateral,just cant afford the interest on 20 or 30k or a 30 day note. thanks guys...
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Old 01-21-2008, 09:16 PM
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Seems like builders would realy benifit from there own in house financing like most merchants have done to sell there stuff. Seems like you could put a lean on the boat,car, whatever.They make high end credit cards with no colateral,just cant afford the interest on 20 or 30k or a 30 day note. thanks guys...
Think of it like this...i build you an engine, you agree to pay me $500 a month for a couple years for the 20 grand. You fall on hard times in December of the second year. Who is the first person you stop paying? The guy who built the engine in your boat. Which is in poor shape because you couldn't afford to take proper care of it at the end of the season. So now I'm left holding a note on a 20 thousand dollar heap of scrap thats not worth $2,000.

You'd have to be a damn fool to finance high perf. marine engines if you ask me but then again maybe if someone has a couple
 
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Old 01-22-2008, 01:04 AM
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Quote:
Originally Posted by baddogz28 View Post
Griff, who's to stop someone who buys a 60" plasma from Best Buy on credit from selling it and keeping the cash?

Red Corvette, I was under impression that some will do it by using a secondary source to extend a line of credit, like Capital One, HSBC, etc. Can't point you to any engine builders though, haven't had a boat to use one for yet.

Nobody, but Best buy isn't taking the risk. HSBC retail services is. Thats who Best Buy uses. They can spread the risk with 1000's of purchases. Personally, I don't think its a good idea for engine builders to get into the credit thing. They can't spread the risk enough and I'm sure finance companies would see it the same way.

If you need to borrow for power, then you should refi the boat or get a heloc. Not to mention, how long would 800hp/60k engines last before they need rebuilt???? Not long enough to pay them off.

Last edited by Griff; 01-22-2008 at 01:06 AM.
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Old 01-22-2008, 12:11 PM
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Originally Posted by redcorvetteman3 View Post
Can anyone direct to a engine builder that has financing and will stand behind what they build? I'm looking for a pair of around 800 hp motors and possibly a pair of konrad drives rigged in my boat I have a 4150 stinger with one 420hp and a 620hp now(long story) currently have borg warner trans and trs drives. thanks
Find a boat with newly rebuilt engines, finance the boat, swap the engines into yours and vice/versa, sell the boat you financed. Someone on here will know of some available. I'd sell you my Scorpion, but the engines are only 630HP each.
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