Tony, depending on what condition your boat is in should also be a determining factor. If you decide to buy new, best place for pricing will be Jacos Marine. They repower a lot of rigs and if you are in driving distance, that would be a good option for saving a few $$$.But, keep in mind…….when you repower, you should plan on keeping the rig for years as you will not get a good resale value based on the motor alone. It will help some, but most people will still point and say “Yeah, but its a 20 year old boat.” Ive had it happen to me.You could shop around for a used lower unit, sometimes Mercury has some remans listed on their site.We did the same thing, son fished high school then did college fishing. Two things to take away; make sure he understands education is first and theres a lot of kids that try to fish all 3 college trails at the same time, which will cost $$$. Get the education and fishing will take care of itself.