BaronSamedi
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Just seen an advert on FB for an stunningly coloured lovely dressage horse. Not my thing at all but he is gorgeous. The advert states that is not a loan but a lease offered, minimum of 2 years. What the difference please?
What's the difference between a Loan and Lease?
- Thread starter BaronSamedi
- Start date
JoannaC
Well-Known Member
A loan you take on all the costs of the horse but a lease means you also pay for the privilege of having a top competition horse so the owner gets some money as well as you paying for all the costs of the horse.
ihatework
Well-Known Member
A loan you pay all the running costs of the horse.
A lease you pay all the running costs of the horse in addition to a rental fee, which is usually 10-20% of the horses market value per annum
A lease you pay all the running costs of the horse in addition to a rental fee, which is usually 10-20% of the horses market value per annum
BaronSamedi
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??????
Leandy
Well-Known Member
Loan is free use of horse, lease is payment for use of horse.