How to Offer Finance for Marine Electronics

Introducing Finance for Marine Electronics: Why It Matters

The marine electronics market—chartplotters, fishfinders, radar, and more—is booming. But these high-ticket items can stretch customer budgets. Offering finance provides:

• Affordable payments: Spreads the cost of essential navigation and safety equipment.
• Increased sales: Customers purchase more when flexible finance is available.
• Competitive edge: Stand out from marine supply rivals.

"Finance closes the gap between what your customer wants and what they can afford now."

Types of Finance Options for Marine Electronics

Consider which finance solutions best suit your customer base:

• Interest-Free Credit: Pay over 6, 12, or more months with no added cost.
• Interest-Bearing Loans: Lower introductory monthly costs, spread over longer periods.
• Buy Now, Pay Later (BNPL): Delays first payment, useful for seasonal boating needs.
• Leasing and Hire Purchase: Particularly useful for commercial clients or higher-value kit.

How Retail Finance Works—A Simple Breakdown

1. Partner with a Finance Broker (like Kandoo).
2. Choose products eligible for finance.
3. Integrate finance application tools online/in-store.
4. Customer applies and gets a decision—usually within minutes.
5. You get paid upfront; customer repays over time.

"All the risk and paperwork stay with the lender, not your business."

Key Steps to Set Up Retail Finance

FCA Regulations: What Marine Retailers Should Know

• Retail finance is regulated by the Financial Conduct Authority (FCA).
• Options:
• Become directly authorised (takes time, fees, oversight)
• Appointed representative (quicker, use a broker’s permissions)
• Brokers like Kandoo take on regulatory burden, ensuring you’re compliant while trading quickly.

Compliance Checklist

• Display finance info transparently
• Don’t oversell/pressure customers
• Use approved marketing materials

Boosting Customer Engagement with Finance

Tips to make finance work for you:

• Add clear “Finance Available” stickers on product pages and in-store displays.
• Offer instant application links—make it easy to apply in minutes from mobile, tablet, or till.
• Train staff to answer FAQs (rate, who’s eligible, how credit checks work).

"Customers want to know: Is finance easy, safe and fast? With a good broker, the answer is yes."

Addressing Common Customer Concerns

• Will my credit score be affected? (Soft searches are possible)
• Can I repay early? (Most lenders allow early settlement)
• Who do I call if there’s an issue? (The finance provider, not the shop)

Note: Marine electronics are often crucial for safety and navigation. Finance enables customers to invest without compromise.

Marine Finance in Action: Example Offers

*Illustrative only – check current offers with your broker or finance provider.

Final Thoughts: Choosing the Right Partner

Selecting a broker experienced with marine retailers ensures:

• Fast setup and FCA compliance
• Access to lenders comfortable with marine electronics
• Ongoing support, marketing help, and training

"Finance turns browsers into buyers—and builds loyalty."

Get Started with Marine Electronics Finance

Ready to grow your marine business? Partner with a broker like Kandoo and start offering finance that helps your customers afford the very best.

Contact Kandoo today for a tailored demo and see how marine finance can revolutionise your sales.