Payment for horse...installments??would you?

[SaharaS]

OK...latest in my saga...pics of the boy in question are on my profile albums..New lady has offered to buy for full price(bare in mind he's lightly backed 3yo new forest) I am not prepared to loan and her husband has put his foot down over buying, she asked if I would loan with view to buy...then we got onto the subject of installments.then they offered to pay over 8 months..longer than i thought she would say(3 i thought i could cope with)...would any of you entertain this with a contract or steer well clear. I was thinking 50% deposit might make it possible...but just interested to know what any of you think/your experiences...anything would be of help including the inevitable..one of you I'm sure will call me nuts for even considering..frankly I think I would agree!!;-)

 

[rhino]

Unless it was someone I knew very well (at the same yard for example) and I felt they would be the ideal lifetime home then no, I wouldn't. Unfortunately horses are expensive creatures to keep, and as your boy is very reasonably priced I would worry they couldn't cope in event of something going wrong

 

[Natz88]

A friend of mine has just done it with a horse, the girl paid a bit up front then asked to pay the rest over a few months (be it he wasn't alot of money) she agreed they signed a contract etc. Well the other day I noticed my friends horse had been put up for share by the new owner stating who ever takes him on can ride as much as they want,compete him & class them as their own horse as she has basically said that he isn't the horse for her. So I phoned my friend to make her aware & it turns out that the girl has refused to pay her the last couple of hundred quid for the horse as she has found out he cribs (although my friend told people & stated it in her ad). So me personally I wouldn't do it unless I really new the person & they were a friend etc.

 

[Pearlsasinger]

Having read your other thread, I would think that it would be worth your considering this lwvtb. As I understand it you are not selling because you need the money but rather because you are not in a physical position to do the associated heavy work.
If you do decide to g down this route, you should have a contract in place, take up references from as many people as you can think of, visit as often as possible, or ask someone else to do so for you and take the horse back immediately if there is any default on the staged payments. The horse would remain yours until paid for in full.

 

[maresmaid]

How desperate are you to sell? Do you know anything about this person's credit rating? Personally I would not consider installments, there are just too many "What if's". If things go badly wrong with him before he's all paid for it could get very messy & if she's got the horse, she's holding all the cards. If she pays some of the money then stops paying the rest for some reason could she claim part ownership? (Better if she gets a loan from the bank and pays you in full - let the bank worry about the repayments!)

 

[SaharaS]

Unless it was someone I knew very well (at the same yard for example) and I felt they would be the ideal lifetime home then no, I wouldn't. Unfortunately horses are expensive creatures to keep, and as your boy is very reasonably priced I would worry they couldn't cope in event of something going wrong

Thank you Rhino...again! I am thinking of readvertising him again instead..and amending all the prices accordingly so I might have a new flush of interest...I woudl be VERY surprised if anyone will actually come back with a yes do it comment for payments in installments...

back to lotto/ drawing board so i can hire a full time pony cuddling slave...she's be a busy girl I tell you!my head hurts after all this!

 

[rhino]

back to lotto/ drawing board so i can hire a full time pony cuddling slave...she's be a busy girl I tell you!my head hurts after all this!

I've got my ticket for tonight Would love another ginge

 

[Ranyhyn]

Nope, wouldn't touch it personally!

 

[Firefly*]

Absolutely not!

 

[Oberon]

I did this with my Tank. The breeder offered these terms with all his sales.

He has been burned before though, so it's not without risks. Things change so quickly nowadays, it's tricky to guarantee that they can still afford the payments, six months down the line.

I suppose it all depends on how desperate you are to sell and much you know and trust the buyer?

 

[SaharaS]

She just rang again and I asked her a few more questions...turns out she is struggling to find the money to send her mare off to rainbow bridge and instead is keeping her on pain killers...she was quoted £200 by various hunts..and was moaning about paying vet to pts...and didn't think she wanted to bury her as would have to pay £50 for a digger & driver for an hour & didn't feel any one locally might be approachable...so problem solved...I don't need the money as such,tho this is my boy so am not giving him away but tried to price sensibly...but after what you've all said...pro's and cons...am not a charity case & as mentioned quite rightly above I'm simply trying to reduce my numbers to make my life easier with my health...so once again thank you all...I'm great at problem solving for other people...but utterly RUBBISH when its my own things...hopefully none of you are going to wise up & start invoicing me!

 

[fizzer]

No I would not . Circumstances may change and they only pay you some of the money. A chance you have to take.

 

[petsywetsy]

Under the circumstances, I would certainly consider instalments, as if it didn't work out, you could get him back.

But not this lady, as IMHO she can't really afford to do a horse justice financially. If she had a big vet bill, she obviously can't pay it. If she can't afford a few hundred quid now, how would she pay both you and a vet?

Can you not pay someone to do your horsed a couple of hours a day? Just the heavy work would help you I would think.

 

[Spring Feather]

I often sell youngstock on a payment plan. Half down and then payments over 3 months. The foal/youngster does not leave me until payment has been received in full. I don't know how much your are selling your youngster for but I would not accept payments for anything under 3k and no matter the price I wouldn't do it over 8 months.

 

[SaharaS]

Under the circumstances, I would certainly consider instalments, as if it didn't work out, you could get him back.

But not this lady, as IMHO she can't really afford to do a horse justice financially. If she had a big vet bill, she obviously can't pay it. If she can't afford a few hundred quid now, how would she pay both you and a vet?

Can you not pay someone to do your horsed a couple of hours a day? Just the heavy work would help you I would think.

tried that, but can't justify the extra outlay as people round here want £20 per hour or quote won't get out of bed for less than 20 before they do ANYthing...sometimes easier to struggle on than have people take the p...other people I tried were cheap but things went missing...or unreliable resulting in vets fees & the death of one of my goats...had to put it all down to experience!God I miss Sussex. I've emailed her to say can't do it but contact me if financial situation changes....ads in process of being relisted and crossing everyting...fingers...tonsils...the lot!x

 

[spottydottypony]

No way !!!! A girl who moved on our yard did this with a 4 yr old gypsy cob. She got him , hogged and clipped him (because she thought he had mites), he fell over and injured his stifle joint because she hadn't tied him up correctly, then she left him in the field and very rarely came down to see him. She then tried to sell him before she had paid for him luckily no one bought him !! Then the previous owner came to collect him because she had only paid about 3 installments! The previous owner was mortified by the state of him all his feathers and long mane were gone and he was poor and thin! i only know this because someone off the yard knew the previous owner!!! So there is no way i would take any installments off anyone !

 

[SaharaS]

I often sell youngstock on a payment plan. Half down and then payments over 3 months. The foal/youngster does not leave me until payment has been received in full. I don't know how much your are selling your youngster for but I would not accept payments for anything under 3k and no matter the price I wouldn't do it over 8 months.

That sounds very sensible & a very practical safe way of doing it Spring Feather...funny I bet you never have probs with the horse still in your care...do you charge livery for it till paid? I was originally asking £1200 but reduced to £850...so no where near 3k....my other 3yr old homebred is up for £4/4.5k ish and I would,do as you suggest above, but different typeof horse/breeding/price altogether & would be a totally different financial type of prospective owner..its hard enough having to sell & reduce my numbers..so so hard..but I don't need any incidentals to make a tough thing even harder/heartbreaking. Wise words, thank you all

 

[SaharaS]

No way !!!! A girl who moved on our yard did this with a 4 yr old gypsy cob. She got him , hogged and clipped him (because she thought he had mites), he fell over and injured his stifle joint because she hadn't tied him up correctly, then she left him in the field and very rarely came down to see him. She then tried to sell him before she had paid for him luckily no one bought him !! Then the previous owner came to collect him because she had only paid about 3 installments! The previous owner was mortified by the state of him all his feathers and long mane were gone and he was poor and thin! i only know this because someone off the yard knew the previous owner!!! So there is no way i would take any installments off anyone !

Christ thats awful...I hope he is looking & feeling better & more his usual self by now

Rhino I will keep my fingers crossed...i think he'd be PERFECT for you!

 

[smellsofhorse]

Some situations thus might work, with a tight contract but this woman doesn't seem right.
The horse us being sold for a small amount and as others have said can't is struggling with vet bills and sorting her other horse.
She doesn't sounds the most reliable when is comes to money.

 

[flyingfeet]

What you have to ask yourself is are you prepared to go into the loan shark business??

Would you give this person an unsecured personal loan?

If this was a car - would you let them pay in instalments?

If you answered "no" to the above, then the money lending business is not for you. However if you are prepared to knee cap them to extract cash when it all goes wrong, then absolutely give it a try!!

In these times and with an asset that can die, be ruined or injured, I personally wouldn't do it

If the buyer is solvent they can get a bank loan, if they cannot get one of these then you have to question if you should be selling a horse.

Also your last comment about them being unable to afford to shoot a horse, would really make me not want to sell them a horse!!! What if your 3 year old damages itself in a new environment and needs veterinary attention? I can see you not being paid and the horse not getting the best care

 

[spottydottypony]

SaharaS i hope he is ok too! I think the new owner was a serial horse owner because she was only on the yard about 8 months and had 3 horses on loan , view to buy with homes for life and gave them back to the owners because the horses all had problems , think it was her with the problems. She also loaned a saddle off the previous owner and tried to sell it to me before she had paid for it!! The saddle was left in the tack room after she went fortunatley the owner got it back! Some people are scandalous she does the same thing with dogs always changing them !!

 

[Spring Feather]

That sounds very sensible & a very practical safe way of doing it Spring Feather...funny I bet you never have probs with the horse still in your care...do you charge livery for it till paid? I was originally asking £1200 but reduced to £850...so no where near 3k....my other 3yr old homebred is up for £4/4.5k ish and I would,do as you suggest above, but different typeof horse/breeding/price altogether & would be a totally different financial type of prospective owner..its hard enough having to sell & reduce my numbers..so so hard..but I don't need any incidentals to make a tough thing even harder/heartbreaking. Wise words, thank you all

Hi SaharaS, I really don't think you should allow payments on a youngster priced at £850 let alone over a period of 8 months . With regards to livery, if the youngster sells for between £5k and £10k then yes I often give free livery for 3 months. The foals don't cost me much to keep so that's not money I'm having to spend out on them and if it gets me the right deal then I'm happy to offer free livery. Theoretically if it was a mature horse and it only sold for around £3k then I might possibly offer reduced price livery just to clinch the deal but I'd charge for out of pocket expenses like farrier, wormers, feed etc.

I'm sorry you're having such a tough time with these buyers of yours. I really hope that someone sensible enquires and you don't have to jump through all these hoops that these numpties are dictating to you

 

[Mithras]

No, I wouldn't. Unfortunatley there are too many people in the horse world who have no intention of paying.

Also, whats going to change with this buyer to enable her to afford it in the future? She's already got her excuse lined up (husband won't let her).

Don't let the horse go out of your possession until the full money has been paid up front.

 

[angelish]

"NO"
although i wouldn't even consider loan WVTB ,if they want the horse that much they will find the money ,tell them someone else is coming to have a look next week and shut the gate on your way out

 

[Spring Feather]

OP the more I mull this over the more frustrated I am for you. What planet are these people on?! Christ if you can't find £850 then don't even go and look at the pony. And do they really think us sellers are ruddy banks!? Go and get a damn loan from a bank if you can't afford to buy outright!

Ahhh I feel better now

 

[SaharaS]

OP the more I mull this over the more frustrated I am for you. What planet are these people on?! Christ if you can't find £850 then don't even go and look at the pony. And do they really think us sellers are ruddy banks!? Go and get a damn loan from a bank if you can't afford to buy outright!

Ahhh I feel better now

hehe bless you getting stressed too x...I suggest you perhaps not reading my other thread at the mo.....not without a stiff drink!!Same pony...other person...post dated cheques after collection...hung onto him for a month for her...then the funny question over passports/abbatoir...poor pony looks like he's stuck with me!!!

 

[SaharaS]

However if you are prepared to knee cap them to extract cash when it all goes wrong, then absolutely give it a try!!

LOVE IT!!! believe me after this week....anythings possible!! I have 3 pygmy goats who LOVE mugging people & one with a penchant for knees!


I've just tried to multi quote a few others of you, just didn't seem to do what i wanted it to...but thank you for all your posts...I've taken everything in & this is FAR better than hindsight..Marvellous...thank you all very very much xxx

spottydottypony I can't believe the nerve of the woman...poor you..but POOR dogs..unless she's a genuine foster dog carer...absolutley not on!lucky about the saddle at least & lucky escape for pony too by the sounds of it...

 

[mulledwhine]

Was he put on lOan with view to buy? If so write up a contract stating all of this plus how much payment you expect per month.

If it was a straight sell, then no!!

But if he is on loan wvtb, the why not, just put in the contract that all ownership remains yours until all monies are paid, all signed and sealed I do not see a problem

 

[mulledwhine]

Sorry!!! Just read all threads ...

If she cannot afford to pay for her horse to be pts and buried.. Them I would say NO. What would happen to yours if anything happened ??

So please ignore my last post and say no xxxx

If her circumstances were different then I stand by my first post xx

 

[beehorses]

Don't do it. Even if you know the person really well it doesn't mean you really know them till theres money involved.