Loan with a view to buy, what do you pay up front?

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stanley101

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We are looking for a loan with a view to buy and I have found a pony that looks good. the owners are allowing a months trial.

So as the title really, do I pay the amount requested up front or offer half as a deposit or what?

Ta
 
I would always say the full amount, and you have to have them fully insured that month etc, if not insured be prepared to pay for any vets bills concurred that month and if they loose their use or die in your care you wouldnt get any money back. Paying the full amount covers the owners back if you do run off (not that you would!). Make sure there is a contract in place as well saying about the months trial so the owner has to take him/her back if they are not right
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When I took my boy on on loan with view to buy I paid nothing, but it sounds like your situation is actually a trial period, rather than a LWVTB.
LWVTB's tend to be over a period of several months (in my case 5), whereas trial periods tend to be 2-4 weeks.
For trial's I would always pay 100% upfront, as you have pretty much agreed to buy the horse, wheras LWVTB's tend to be more informal.
As someone said, I would also get a legal contract put in place, before you take the horse.
 
All i would say is be very careful!!! After loosing just over £700 to some very unscrupulous (i have other words for them but wont go into it on here
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) people i'd never put down more than a small deposit again. In my case, the horse wasn't right for me so i returned it to owner, only to be told i wouldnt be getting my deposit back as had wasted their time. Had they described the horse accurately in the 1st place i probably wouldnt have had it on trial. We had drawn up a contract between us but when i went to the CAB and spoke to a solicitor friend of mine they said it wasn't really worth the paper it was written on as it was informal and not done by a solicitor. Going through a small claims court would have cost more than i'd have got back so in the end had to chalk it down to experience & never do anything similar again.

I'm sure most people would be honest enough not to do this, but you always get the dishonest folk that give the rest a bad name. I understand where a seller would come from in case the horse disappeared whilst on trial (again, not that you would!!
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) but when i sold my old boy i just refused to allow a trial where he would be moved off the yard, which solved that problem.

Just be careful, and anything you do pay upfront just make sure can afford to loose (just in case) or are very well protected. I'd definitley get them insured whilst in your care though, just in case anything should happen.
 
make sure it is insured!
We put a deposit down on my last pony, can't remember how much and we had him for a month trial...it was about half of the agreed price to pay. we made a written agreement etc.
on the day of the vetting he gashed just above his eye lid in the lorry on the way to where we were getting him vetted... thankfully he was fine and could be vetted after being stitched and doped worn off... but he was insured! you think these things wont happen but they do!
 
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