Experiences of LWVTB?

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I'm looking at getting a horse on loan with a view to buy if all goes well - experiences/tips please? I've never gone down this route before although my horse of a lifetime was gifted to me after I had him on part loan for six months so I like the fact that I already knew him.
 
If it’s loan with a view to buy after a set period, agree the date money should be paid (having agreed a price) and have it vetted before it arrives with you). Essentially it’s a trial by any other name.
 
I had one on LWVTB, he came to me as a companion mainly and for a quieter life, think I had him on loan for a year, then a payment plan. It worked well for me, sadly I lost him shortly after I owned him outright, but that's horses sadly for you and I had had him two years. It was written into the agreement that if anything happened to him before I'd paid in full then the monies were still owed. I understand this, as the person loaning the horse is taking a huge risk, loaning it out, for it to come back broken.
 
If the horse is the one for you then it is a great offer but you need to make sure it is right before taking it on, I would want the price set before and also to have it vetted so you can fully insure it, including LOU, if it is fairly high value, if you go with the LWVTB you dont want to get to the payment time and find it has a veterinary issue after you have spent x amount of time getting emotionally involved, it may not be everyone's advice but to me it makes sense to invest a relatively small amount before committing rather than having it go wrong further down the line.
 
It would be rare to get a LWVTB that doesn’t come with some sort of issue, otherwise it really is quite a risky exercise for the owner.

So just ask all the normal sensible questions you would do if buying outright. Agree the price and loan period in advance. Have the horse 5 stage vetted, even if you know it’s going to fail on *something*, a vetting might highlight other issues too.

Be prepared to sign a contract and understand the terms you are signing yourself up to.

Insure the horse fully.
 
i have heard of issues when a loaner has improved a horse and then the owner decides they want a higher price so very important to establish price first and put in the contract and as others have said i would also get it vetted before you take it on so you know if there are any problems. good luck
 
I've done this twice recently One worked and the other did not. As a buyer I really like it as a solution. You really get to see what the horse is like and you know they haven't been slipped something before the vetting (which horse one failed..) But as a seller I do not allow it. (I know - tough hey!). You need a really clear contract. In particular you must specify period, cost, and husbandry requirements. Who is responsible for vets bills, what happens if the horse is injured? Insurance requirements. Ideally keep the time relatively short (4 - 6 weeks is ample) and you will not have improved it significantly within that time.

Alternatively opt for a loan. Clear contract as before but you do accept the risk that if you increase the horse's value it could be sold from under you.
 
I have done it, however only on a particularly quiet, non competitive pony whose worth was relatively small. I wouldn't normally do it.
 
splashgirl45 said:
i have heard of issues when a loaner has improved a horse and then the owner decides they want a higher price so very important to establish price first and put in the contract and as others have said i would also get it vetted before you take it on so you know if there are any problems. good luck
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This! I took on a LWVTB, and we agreed a price at first. I went through a lot with said horse (countless foot abscesses etc.) I had to buy all take etc. too. then at the end, the owner wanted £1000 more than we agreed. Needless to say I sadly gave the horse back.
 
I did it. I ended up buying mine for £1 so I’d say it worked well for me! I didn’t have him vetted until he was with me. He failed and the owner couldn’t take him back. It wasn’t anything too major but did affect his value. I wouldn’t have bought him for the agreed price but he was barganous for £1.
 
I've just purchased one that was lwvtb. He came here on three months loan/trial but I paid for him after three weeks.

Although he came from friends I trusted 100% I couldn't shake off the thought that he wasn't mine and the prospect of having to tell the owner if he got sick etc was horrid so as soon as we established that my home suited him and both sides were happy I handed over the money.

The owner kept him insured with the idea I would transfer the premium each month to her but I ended up buying him so quickly this wasn't needed in the end.

Very pleased all round but I already knew the owner of the pony so knew they wouldn't muck me around with pricing etc. My biggest worry with a stranger would be them springing a price rise as the horse looks and goes better
 
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