How much does a new, or a rebuilt motor cost? Looking at the pictures it seems like spending $500-$600 on the old motor could be the same as throwing good money after bad. Neclected boats will often have a negative value: It cost more to fix than the final product is worth Not only talking parts and pieces, but all the "not so free" labor that goes into it. Hopefully it will run good for 10 years after you fix it up. Good luck.