Loan w/ view to buy & paying in installments. Would you accept?

H

Hattiehorse

Well-Known Member
Joined
14 August 2009
Messages
211
Visit site
After losing my first horse at the beginning of the year I am now at the stage where I miss going down the yard and spending hours grooming, riding and doing general 'yard' things.

I have come to the decision to buy another horse. I know that I can afford all monthly bills with ease but the actual cost of the horse I cannot afford.

- I've thought of getting a horse on loan with view to buy so that I could get to know the horse and know he was the one for me whilst saving up to buy him.
- I also thought of paying in installments.

The problem is that I do not think many people would agree to either of these. (There are very few suitable loans w/ view to buys out there. I've looked!)

Do you think, in the current economic climate, that many people would agree to either of these options? Would you be willing to accept this form of payment for your horse if you knew he was going to a good home?

All opinions are welcome! Thanks.
 
I'd only be willing to eccept this if there was a water tight contract in place so that if something were to happen whilst the horse was in your care (accident etc, lamness etc etc) you would still pay me for the horse. I would also probably insist you had the horse vetted first for this reason. You may find someone out there
 
when we brought my first serious competition pony, we paid in instalments. it can happen? but im not sure how many people would agree to it. we were quite good friends with said pony's old owners.
 
I read the almost exact same question on another forum the other day and the majority of replies all came back as yes, several people had sold and purchased this way.
 
It can happen - a friend of mine is currently paying for a horse by installments - but I wouldn't advise it. Far too many things can go wrong in between beginning paying for the horse and finishing paying for the horse IMO.
 
I think if it was a cheaper horse (say up to £1.5k?) I might take installments provided you had good references etc.

I think anything more I wouldn't take the risk unless a v good friend etc.
 
I bought my pony that way. I had him on loan for a few months, and then bought him and paid in 5 installments. I knew the owner, though, and she knew I wasn't going anywhere.
 
Unless it was to a VERY good friend, no, I wouldn't. Too much can go wrong, and when you sell a horse you want it over and done with, not dragged out.
 
I got my boy same way and she help on to the passport till it was fully paid for we had a contract which stated this as well and i got receipts for payments i gave her
 
I sold a horse once with payment by installments - the purchaser bounced 2 cheques on me, moved yards twice without telling me (I traced her cos she stayed local) and then she vanished owing the last payment.

Friend of mine LWVTB last winter - got 4 months payment (on 2 yr agreement) and then the pony was returned because the woman changed her mind. (and they were friends but aren't now)

Never again in a million years - too risky, too complicated & ruined a friendship
 
no way to either agreement.

can't you hold off buring a horse until next spring and in the mean time save up the money you would spend on livery etc and use that to buy a horse next year?
 
Over a year I would only save about £780 on livery. Adding farrier, vet, back man etc still doesnt really help seen as the kind of horse I want is about £2500-£3000. lol.

And I would definately have a water tight agreement, I don't want the owner going back on what they say and I wouldn't want the owner to lose out somehow.

I think searching for this horse is going to be like looking for a needle in a haystack!

Thanks for all your thoughts on this, more opinions are welcome.
 
You must log in or register to reply here.
Top