Possible new loan

[Thebeaglehaslanded]

Okay, so just quickly to recap: My daughter and I went ahead with a loan and good god she has stolen my heart and mind. However…. We part loan her and have now been given the opportunity to full loan transferring the horse to our current yard with both yard and owners permissions.

I immediately said yes let’s look but a few things are bothering me. We haven’t viewed him yet. I would like to share them here to get honest / professional opinions.
To be clear we are not novices anymore but still learning advanced horse care / management.

Here goes:
Our current loan is 22 this one is 20
We have been asked to pay insurance for him ( currently we pay a flat fee and half farrier) This bothers me as I am going to be basically paying for everything. There is no loan fee as she needs him ridden but my yard will charge for everything else. In my mind I should just carry on with the horse I love and save to buy my own.

Or is this normal and a good next step?
I don’t want to full loan my current horse as she is old and I feel it would be asking too much of her. (Not sure that’s true but I would feel guilty)
Just looking for some sage advice I guess as my heart says yes full time loan, but my head says nope.

 

[milliepops]

In a full loan it is normal to pay everything, the only thing you save on compared to owning, is the purchase price of the horse.

What is the benefit to you of taking the full loan horse, compared to continuing with your part loan? I'm not sure what is making you think of changing at this point, is it because the older horse is not able to do what you want?

 

[Barton Bounty]

What @milliepops said, its normal to pay for everything ?

 

[Winters100]

To me if you have full use of the horse it would be normal to pay everything, the huge advantage that you have is the ability to hand him back at the end of his working life. But you say that you have not yet viewed the horse? I would go and take a look before you make any decision.

 

[Thebeaglehaslanded]

In a full loan it is normal to pay everything, the only thing you save on compared to owning, is the purchase price of the horse.

What is the benefit to you of taking the full loan horse, compared to continuing with your part loan? I'm not sure what is making you think of changing at this point, is it because the older horse is not able to do what you want?

Thank you,
We have been part loaning and I want to ride more and my daughter would like to do more in the way of novice competitions.
In my mind if we have to pay vet fees then we should save and buy our own slightly younger horse, which I was planning for in a years time. I am prepared to wait.

 

[Squeak]

Tbh Id be tempted to stick with the part loan you have now and save for your own.

20 is still fairly old for a ridden horse and so the other horse also might not be able to do everything you want. You know and obviously like and enjoy your current one, which is worth a lot.

 

[milliepops]

Thank you,
We have been part loaning and I want to ride more and my daughter would like to do more in the way of novice competitions.
In my mind if we have to pay vet fees then we should save and buy our own slightly younger horse, which I was planning for in a years time. I am prepared to wait.

If you are not willing to spend the extra on the full loan then waiting to buy your own sounds like the best option.

 

[Thebeaglehaslanded]

Thank you to everyone for your advice! I obviously still have a lot to learn. Because we part loan we pay a flat fee and that includes everything (no separate horse insurance) I now understand why you would have all the expenses if you full loan, just was stuck in my part loan fee and thought it would be that and more. I have said to yard owner we would like to buy maybe in a year. This arrangement seems to be counterintuitive? As I could continue our current bomb proof loan then when ready buy a horse that really suits our needs rather then being led with my heart just to have a full time loan. We are still going ahead with viewing but I am worried I will fall in love and just say yes!

 

[Thebeaglehaslanded]

To be clear it’s not that I don’t want to pay horse insurance just that if we do then it makes sense to do it for our own horse. One that we choose for temperament, age etc. Not because I have been rash and fallen in love ?

 

[milliepops]

often people go for a loan because they don't want to commit forever to a particular horse (circumstances might change for example), or because a horse that meets their needs but that they couldn't afford to buy becomes available. I've got one on loan that sort of falls into the second category. I'm committed to spending the ££ on something, so for me it works out to spend it on a better horse than i could buy, even though that means he is not and never will be mine.

In your shoes, you'd need to be sure that the full loan horse was better than what you currently have. and then weigh up the pros and cons of having the extra horse time, vs the extra responsibility and expense (and whether that affects what you can save if you eventually want to buy your own).

 

[Squeak]

When you go to the viewing make sure you check with the owner what level of work the pony is in at the moment - is it currently doing and capable of what you want it for? 20 year olds can vary a lot - some are out competing and in full work and some can only do a walk hack once or twice a week. Just really double check as MP said that this one is better than what you currently have.

And also check if it has any maintenance veterinary work at the moment such as joint injections or even joint supplements etc and if so double check the costs of it and if the owner is expecting you to take on these costs as chances are they wouldn't be covered by insurance.

 

[Equi]

I don’t see what going to see the horse achieves other than wasting your and their time. You loan it you pay for it, everything included. As an owner if I was loaning out to someone who already has a mind set of “I don’t want to pay for x when it’s not my horse” I’m not sure if I’d be wholly happy.

 

[Thebeaglehaslanded]

I don’t see what going to see the horse achieves other than wasting your and their time. You loan it you pay for it, everything included. As an owner if I was loaning out to someone who already has a mind set of “I don’t want to pay for x when it’s not my horse” I’m not sure if I’d be wholly happy.

I appreciate your honesty, thank you. I think asking the questions as suggested by ‘Squeak’ before we view would be better. I am not trying to waste anyones time, just trying to decide what is best.

 

[TheHairyOne]

I would be wondering what sort of insurance they are wanting for a 20 year old horse!

That aside full loan would normally equal full costs, which would include any vet treatment required whilst in your care.

Horses being horaes there are never any guarantees with anything though!

 

[Thebeaglehaslanded]

Thanks everyone, sadley (he was a beauty ) the decision has been taken out of our hands now as he needs to stay at his own yard. We know how lucky we are with our current yard as the woman who owns it is so lovely and it’s a really lovely place to be. This was never about having to pay (well in a way, as I never knew you paid horse insurance, just thought it was another flat fee for full loan. more should I pay to loan or save for our own. I didn’t mean to offend with my clumsy wording. At least now I have more information if we do choose a full loan.

 

[Winters100]

Sounds like a sensible idea to stick with your current part loan and later buy a younger horse. Just a word of warning, when you look for your own think 'younger than current horse' but not 'young'. I say this as a very novice owner arrived at our yard 5 days ago with her newly purchased horse, a 4 year old straight from the race track. Needless to say they have by now discovered that riding it themselves is not an option and are somewhat horrified at what they will have to pay a pro to bring it on. I am sure that you know this, but worth a mention. Good luck!

 

[Thebeaglehaslanded]

Thanks everyone, sadley (he was a beauty )the decision has been taken out of our hands now as he needs to stay at his own yard. We know how lucky we are with our current yard as the woman who owns it is so lovely and it’s a really lovely place to be. This was never about having to pay (well in a way, as I never knew you paid horse insurance, just thought it was another flat fee for full loan. more should I pay to loan or save for our own. I didn’t mean to offend with my clumsy wording. At least now I have more information if we do choose a full loan.

Sounds like a sensible idea to stick with your current part loan and later buy a younger horse. Just a word of warning, when you look for your own think 'younger than current horse' but not 'young'. I say this as a very novice owner arrived at our yard 5 days ago with her newly purchased horse, a 4 year old straight from the race track. Needless to say they have by now discovered that riding it themselves is not an option and are somewhat horrified at what they will have to pay a pro to bring it on. I am sure that you know this, but worth a mention. Good luck!

oh god no, I was thinking 10 - 15 years would be good…. We are still needing a very competent horse not a racing pro ?

 

[MissTyc]

Sometimes these happens work out for the best. You know you've got a good deal; you also clearly love your yard and have good support there; as your current part-loan slows down you can save up a bit and look for your own! We all live and learn.

 

[Thebeaglehaslanded]

Sometimes these happens work out for the best. You know you've got a good deal; you also clearly love your yard and have good support there; as your current part-loan slows down you can save up a bit and look for your own! We all live and learn.

Sometimes these happens work out for the best. You know you've got a good deal; you also clearly love your yard and have good support there; as your current part-loan slows down you can save up a bit and look for your own! We all live and learn.

Yes, you are right. They steal your hearts though!