Horsebox finance?

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noodle_

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Has anyone got a box on finance?

I mean like a box upto 10k nothing massive!... 3.5 ton job..!

Im googling but understanding id come under the "hire purchase" bit?

How much deposit do they normally need etc?

any help/advice ect? seems the only way to get a decent box with some backup and not be stung by private sellers?

thanks :)
 
There are a few companies that do it, however it can be more expensive and less than a personal loan. The HP means until you have made the final payment they retain an interest in the box. How much they fund and over how long usually depends on the age of the box and its value in their eyes, typically they require either 10% deposit sometimes more and then if it has VAT at least the VAT up front.

If you want to sell the box before you've paid it off it can be more difficult as people will hpi it and see it logged but it does give you some protection under the law i.e. if the box isn't mechanically sound or fit for purpose in the first few months as if the dealer doesn't sort it your contract allows you to go back to the finance company but hope you are never in that situation.

Close Motor finance I think still are a horse box financer, however to do this type of route you usually need to go thru a recognised supplier who has a consumer credit licence. The bigger sellers like Alexanders will do finance and talk you through it. But do check the rate and weigh up the personal loan alternative before you commit.
 
thanks ^

would a personal loan be better/safer?

Ive never used a credit card and im mid 20's :o .....

I am a graduate and have access to a graduate loan am considering this option too as i get a 3 month "holiday" (interest still waits for methough)! which could be an option?


ets - wont be doing anything until jan/feb - im in no rush :)
 
noodle_ said:
thanks ^

would a personal loan be better/safer?

Ive never used a credit card and im mid 20's :o .....

I am a graduate and have access to a graduate loan am considering this option too as i get a 3 month "holiday" (interest still waits for methough)! which could be an option?


ets - wont be doing anything until jan/feb - im in no rush :)
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If you've never had credit you may struggle to get finance in todays climate. They need to see you'll pay it back. You could get yourself a credit card and pay it off in full each month (set up a direct debit). See moneysavingexpert.com for credit card suggestions. Graduate loan might be an option, but you'd have to check the rates.
 
Thanks... :)

im just seriously desparate for a horsebox.... im sick of blagging lifts - paying £100 a day out for a boxhire etc when i need to go to horsepital - ive moaned for 2 years about lack of transport hence wanting to look seriously at other options

i didnt do my masters so the money i was going tospend on that (between 5-8k) id rather spend on a box :o



ets - no mortgage sadly! renting
 
To compare your options, you need to look at the total cost of the loan as well as the interest rate. Be very careful with finance, they're liable to whack on all sorts of fees.

I recently took out a personal loan to buy a car and trailer. I worked out how much I could afford each month, how long I wanted to be paying it off, and what I wanted to spend in total. A personal loan was cheapest and didn't have the hassle of finance :)
 
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