Loan-View-to-Buy advice

[Cobiau Cymreig Wyllt]

Have been looking for a lead-rein pony for my novice daughter...and have found one, which, I had some experience of last year as it then belonged to a friend.
This pony has come a LONG way in 9 mths and whilst not exactly the old experienced knows-his-job type I'd originally been looking for for my daughter, he has been in experienced owner hands in the interim, brought on really well and I'm quite a big fan of 'better the devil you know' kind of thing ie I have a reasonably balanced picture of what he's really like, if you know what I mean.
Anyhoo, he is for sale/loan. I have suggested loan-view-to-buy, as I don't really think I'd want to inflict the heartbreak on daughter if they unexpectedly wanted him back but equally, knowing him, don't want to buy him from the offset as I want to make sure she can actually cope with him. Owner is fine with this idea.
So, questions are, never having loaned before:
Is view-to-buy used like this, more as an extended trial?
How long is LVTB commonly..? Was thinking of a month - she will only ride at weekends, but that's probably all she will do all Winter anyway..I will be doing him alongside my youngster and will prob do groundwork etc with him to put in the extra I feel he probably needs to be improved. So think it is reasonable to get an idea where he is up to exactly, given that we knew him before. (Though I know from my youngster, it takes a lot longer than this to bring on, in reality)
Would I use a standard loan agreeement (ie BHS) and adapt for view-to-buy?
What adaptions would you make for view-to-buy given that.....
Next dilemma is I feel he is over-priced given what I have seen whilst trawling round looking for something suitable, ie he doesn't have loads of experience. I do think his current owner has done a great job with him however.
So,
would you negotiate price before taking on loan-view-to-buy, given that I don't intend to offer what is being asked for him? That way it would be clear for all parties what was intended if/when we decide to buy?

Tea and Jaffa cakes all round for getting this far and any advice!

 

[nikCscott]

I bought my horse as LWVB and mainly as I couldn't afford him at the time but knew i would be able to on 6 months time.

We used the loan agreement off Horsemart and added in a section about the agreed price (before hand).

It's tough- I would hope that you would have a good adea before you agreed to take the pony, can you not try it out over a matter of weeks? I have a pony which i'm looking to loan out and the girl who is hoping to have him is coming to ride him all through half term as I don't want him moved and then moved back.

I would consider it a step up from a trial more of a loan with an agreement to buy at the end.

Good luck hope it all works out

 

[Naryafluffy]

Haven't done it before but would get a loan agreement so that everyone knows where they stand should something happen before you buy him, i.e. who would pay vets bill if he got hurt, if the worst happened who would have final decision.
Would also agree a price before you take the pony, there have been a couple of stories in the past where horse went on loan term loan with view to buy, by the time the loaner had put in a lot of work on the horse it was worth more than it was originally worth and the owner then tried to charge the loaner what the horse was currently worth, appreciate you probably won't have him long term loan for him to be brought on that much but probably safer (especially since you are friends with the current owner) that everyone is clear where they stand at the beginning.

 

[Cobiau Cymreig Wyllt]

Thanks for that - yes, we're going there again next week in half-term, the owner's sister is going to ride him for us to see then daughter will hop on. Your suggestion is a good one....hmm suppose I didn't want to take up too much of her time by suggesting another ridden viewing after that one, but maybe she'd prefer that to him going and coming back a month later...

 

[Cobiau Cymreig Wyllt]

Would also agree a price before you take the pony, there have been a couple of stories in the past where horse went on loan term loan with view to buy, by the time the loaner had put in a lot of work on the horse it was worth more than it was originally worth and the owner then tried to charge the loaner what the horse was currently worth, appreciate you probably won't have him long term loan for him to be brought on that much but probably safer (especially since you are friends with the current owner) that everyone is clear where they stand at the beginning.

Yikes, yes, fair enough...negotiate in advance and get agreement on that then..
sorry my post was misleading - have never met current owner til now, the person who sold him to her was the friend

 

[Firewell]

I had my horse on lwvtb

We used the standard BHS loan contract and we agreed a price from the outset, before I even got him I knew what I would have to pay, this is important!! The price was written in the contract I think?!

I brought my horse after 9 months. Initially it was going to be 6 months but when it came down to it the owner wanted it extended.
It was pretty clear after a week or two that I would not let him go and after 9 months myself and the owner were getting itchy feet to get the deal done.

It worked fine as owner wanted to make sure the home was right, I wanted to make sure the horse was right and I also needed time to save up the money after my previous horse was pts .

I think it's important to be very clear about all the details, the price, the contract before you take the pony. I think problems only arise through misunderstanding and miscommunication .

 

[Cobiau Cymreig Wyllt]

I brought my horse after 9 months. Initially it was going to be 6 months but when it came down to it the owner wanted it extended.
It was pretty clear after a week or two that I would not let him go and after 9 months myself and the owner were getting itchy feet to get the deal done.

It worked fine as owner wanted to make sure the home was right, I wanted to make sure the horse was right and I also needed time to save up the money after my previous horse was pts .

I think it's important to be very clear about all the details, the price, the contract before you take the pony. I think problems only arise through misunderstanding and miscommunication .

Ok, that's interesting, so LWVTB can be quite a bit longer than a trial period..good to know

Yes, clarity about details, price and contract would be top of the list, absolutely and also probably why I would want to buy ASAP as we were sure about him so that we all knew where we stood.

I love this forum!