Loan vs Buy?

[Lydz13]

Hello

I thought I would introduce myself! Having progressed to a point in my career where I can afford my kids, a fast car AND the mortgage (whoopee) I'd like to get back to horses. It's been 5 years since my loan horse died from cancer (RIP Hogan) and I would like my own... But the thought of owning is sending my (financial) butterflies crazy..

How practical is a loan WVTB? Do people routinely offer a trial before purchasing? Is it rude to ask for one? I want to make sure I have the right horse for the years and the cost but I haven't owned a horse in over 10 years, and I feel a little scared at buying, and a little rusty at choosing!

Thanks

 

[PucciNPoni]

It doesn't hurt to ask, and in this financial climate, people might be willing to do this type of deal to ensure that the horse is going to the best possible home, and that they are getting out from under the burden of a feed/livery bill themselves.

 

[tallyho!]

I loan on a permanent basis, there is no initial outlay but you will be responsible for everything else as if it were your own horse. An agreement is required, I got the basic one from BHS.

It's just cover things like notice agreements and equipment that come with the horse etc. A good idea to have one.

It really is just like owning one tbh, I am responsible for every single part of his day to day life, shows, competitions, veterinary care, hoof care etc.....

If something changes I always call the owner and discuss but really, it is your responsibility.

Well, I fell in love in love with his personality and she didn't want to sell so... that's how I got my horse several years ago. It works for me. I loaned and shared for years before too. Haven't actually owned my own horse since I was 8 (ok, Dad owned it technically)

 

[Mildred]

I have just found myself in a similar situation (as a seller/loaner). I had my lovely mare for sale, then an opportunity arose to loan her which was far preferable as I didnt really want to lose her. Sadly after 5 weeks or so the loan hasn't worked out (through no fault of my horse, but a lot of other complicated and un-necessary reasons).

I have thought long and hard about whether Id loan again, or LWVTB, and I think I would only LWVTB to a trusted connection or someone local, and I wouldnt loan again due to the constant worry of her being returned with no place available at my old yard, or her being returned lame. I needed to rehome my horse because I was (well, still am!) setting up my own business so cannot afford her right now in terms of livery cost or time, and so to have to face readvertising etc a few weeks down the line again is not tempting at all.

Its a difficult one! Id rather a seriously interested person came to the current yard, tried her out over several days in various situations, as they'll get a much better idea of what she's like. Move her to a new yard and I doubt you'd see the 'real' horse.

 

[bluewhippet]

I am in the process of buying a horse, vetting today.

I considered loaning but as I had let down badly by a horse share and felt completely powerless, and also because I found there was a much more limited choice of horses, I decided to buy.

I can totally see why loaning would be attractive, I suppose I just have a primal need to own the horse myself - having longed for one all my life. And I found it so heartbreaking when my horse share failed (through no fault of mine) and I could do nothing although I had invested so much emotionally and timewise in the horse.

I think it is definitely worth asking if you like a horse because it is a sensible option in the current financial situation.

Good luck

 

[indie999]

Glad you asked this as I am in a similar situation, just retired my much loved cob and am scouring the horses for sale in H&H! I am like you really worried I will purchase a lot of trouble, as I live on a main road HGVs tractors etc my old cob was 199% traffic proof. I dont know if I will find another like him. When I got him looks were not important at all, just the right things. I feels so fortunate to have him.

I am reading about all these fantastic horses and am wondering why they are for sale too?(cynic I know)!

I can understand a loaners problem too as friends have had good and bad experiences loaning their ponies. The worse was despite an agreement a horse ended up dead (Colic) despite the loan agreement stipulating the pony was to wear a muzzle and the loanee was to be the one to care for the pony. They got someone else to start looking after it and the pony was put out on a lush spring field etc It was the best pony my sister had owned. She got a call at work to say it was at the vets and its guts had burst! great! I am hoping that I will find a local ad in our shops. I suppose ask around thats what I am doing and take your time as well. At least with a loan pony you can hand it back if you are not compatible or decide its not for you.

So I am going to be following this thread please let us know how you get on and how you got there as I am in exactly the same situation. I am trying not to be impulsive too

 

[TheEquineOak]

Hello!

First and foremost - if you are concerned about cost, ask yourself if you can afford to lose £350 a month. That's, on average, how much I spend on looking after my horse. You need to look at livery, insurance, tack, feed, shoes ect ect

I was looking for a loan horse for about 9 months. Nothing sparked my interest, we needed something specific and as far as we were concerned, it didn't exist!

Someone from Scotland got in touch protesting she had what I was looking for but it was for sale, not on loan. Went up to see it and we bought him the next day. She needed to shift him so was happy for us to pay in £400 installments with the option for him to go back after 3 months if he wasn't right for us.
So there are those out there that are happy for a trial before you buy setup (albeit you'll need to put down a non returnable deposit).

If you are going to buy, I would suggest staying on a knowledgeable livery yard should you need help finding your feet.

Good luck and happy horse shopping

 

[tallyho!]

Agre with TEO... I think when you find the perfect horse, it won't even matter if it's for loan or purchase. I reckon you'll just go with whatever is on the table if the horse in question is the right one...

 

[sheryl.pochin]

Where I am I was trying to find a pony for loan for my son. There were a lot of them out there but all the owners wanted them to stay at the current yard and there is no way that I would be happy having someone breathing down my neck all the time. I am now looking into buying a pony for him as it is alot less trouble. I used to loan horses when I was younger and never had someone insist that i stay at their yard!! If they don't want to pay for their horse/pony then why should they expect someone to keep it near them?

 

[Suzie86]

Perhaps sharing would be an option for you at first? Just as you mention you are a bit rusty and also worried about a big financial outlay? Could give you time to get the money together to buy one whilst easing yourself back in to the horsey lifestyle again!!

I have loaned, owned and loaned my horse out and I think it is best to do through word of mouth to reduce the chances of getting stung!! When I loaned my horse it was from a friend at the yard where I shared one already. He was eventually signed over to me but a few years later I had to put him out on full loan for a year. He went to a friend of a friend and it was a fantastic home.

Ongoing finances will be the same though whether you buy or loan.

 

[soulfull]

I have loaned in the past

First time, my daughter took on an unfit fat welshie. As soon as he was fit and going nicely owner decided to sell he was too small for us to consider long term and too expensive for what he was, they just thought we would fall in love and buy him anyway!

second time ID mare for my ex we had her in Dec by May she was head shaking badly and knocked ex's confidence so had to send her back

so first time it went against us and second time we could just give back a now unsuitable horse.

Moral sometimes it works out and sometimes it doesn't

sorry not much help

as for LWVTB they are out there BUT it does reduce your chances of finding one soon

 

[indie999]

I have been riding my old plod for such a long time now I am going to have some lessons to get back into it properly before then searching for a new horse. I do think a trial of a horse if it can be agreed is important. I sold a family a pony and they had it for about 3 weeks at a yard. They got the pony vetted and they were happy and so was I as I wanted him to go to a good home.

I think its just being lucky too, one of my friends was quite naughty she had a pony on loan for many years then when it got ill she tried to hand it back but couldnt trace the owner. She now still has the pony who is cared for but has ended up with a pony who is so old and unrideable.Probably serves her right really!

Yes I have seen many adverts insisting the pony stays at current yard. Some riding schools do have share schemes which if you want to trial you have a slot to care for the pony as if its your own etc that may be worth looking at for you. To see how you get on with other commitments.

 

[MagicMelon]

Thing is that I always think loaning is wasting money - you spend a fortune to keep the horse and put in loads of work, only to have to give it back and the owner gets to sell it for decent money and benefit!