Would you sell a horse on a payment plan??

TopTotty

TopTotty

Well-Known Member
Joined
10 December 2008
Messages
1,014
Location
England
Visit site
Hi, I have a horse for sale for £1995 and I got a text last night to ask me if I would loan the mare out with a deposit and a payment plan to pay for her.
Has anyone come across this before and what do you think?
I am very sceptical but obviously in the current climate maybe things are changing. I do not have any other deatils at the moment.
Thanks for you help.
 
No I definitely would not consider this!!
I imagine it could run into all kinds of trouble if your horse was injured before fully paid or just not liked even. Too risky as you could end up losing the lot.

Plus not being funny the buying of the horse is the cheap bit - how can they afford to keep it if they don't have the money?
 
Short answer NO. If someone can't save £2000 to buy a horse then it really doesn't sound like they can afford a horse, and will most probably take your horse then stall on payments giving you heaps of hassle to get the money out of them.
 
It would depend, if someone I knew very well then possibly though I would have to know they were able to afford to care for the horse and have it fully insured just in case. Someone I didn't know than no.
 
I have bought and sold a few times like this with no problems but I have known the people involved very well.
 
If they want a payment plan let them set one up with the bank....they borrow the money & give it to you & then they pay the bank in instalments.

We always had an agreement with the bank.....we don't lend money if they don't sell horses.....it works pretty well. ;)
 
Most definitely not! Agree with above comments. A friend of mine was selling her horse earlier this year and she had a lady come and ask if she could pay in two installments. My friend agreed on the proviso that the horse stayed at her yard until full payment received. Just as well she did, as only a token £50 ever received! Don't know why there are so many dodgy people in the horse world but there are and they often aren't people you would expect to behave like that.
Hang on and find your horse a nice home with someone who has the full money ready to give to you!
 
Would only ever consider this type of thing with a close friend and if the sum involved was more than £2k

As above, unless you want to get in the money lending business I'd steer well clear!
 
No I wouldn't.

I did this for a friend cos I had a horse she really wanted and I didn't but after the first two installments I never received anymore.

Luckily I didn't want the horse and she did / has given him a fabulous home so money aside all worked out ok.
 
Um, well, its not sensible but I have done it and it worked out OK. We had a legal contract and made it clear that the ownership of the horse was transfered to the new owner immediately and that they were therefore fully responsible for the horse after that. The sum was £3k about 8 years ago. There were 3 payments a month apart.
 
no. i wouldnt.
a friend sold her horse like this several years back, she wanted rid as she was pregnant.
she sold it to a fellow livery and had awful trouble trying to get most of the money out of them, for a long time. I would have taken it back as not fully paid for but she was 1. too nice and 2. didnt want the horse

its too risky, not only that you wont see the money, but also, if you dont state the horse ownership is immediately transfered you risk a ruined horse being dropped back off, id you DO transfer ownership immediately and they stop paying, what are you going to do? the horse ownership is in their name now...
 
No!

My sister in law did it once for quite a difficult quirky mare we were having a hard time selling - TBH, it seemed like the only way at the time to find her a new home and the people were local so it "seemed" ok - they moved yards 3 times without telling her, so very hard to trace the location of the horse, bounced cheques on her twice and then moved out of the area without paying the last installment.....

can't recommend it
 
magicgirl said:
I have ......... sold a few times like this with no problems but I have known the people involved very well.
Click to expand...

Same here but with a few rules we both agree on, no agree, no horse, simple as that.

The horse always stays with me in my name until it's fully paid for however long it takes, no exceptions; the insurance is always still in my name until it's fully paid for; if God forbid, anything happened before then, they would get their money back from me, I would keep the insurance payout providing it covered the price of the horse, if it didn't, it would come out of their instalments but only to the full price of the horse; they pay all running costs (farrier, vet although I don't charge livery as such) while it's not paid for too but they are able to treat it as their own while it's here.
Usually they're in a hurry to get the horse to their yard so it's been 3 months at the very most and only one defaulted after the second instalment, I kept the first, handed the second back as in the agreement we wrote up.

Remember, a lot of people can afford the upkeep of a horse but find it very hard to come up with a large amount in a lump, especially if like me, they won't take out a loan for a hobby, heck, I wouldn't even take one out for a car or a kitchen, I'd go without first.
 
Last edited:
I think it depends..

Not to an utter stranger but someone well-known and who was good for the £££ - I'd consider it.

I have a friend in this position. She has an older mare who is still working and two retired ponies. Her OH has a TB. Beautiful stables and plenty of great turnout. She & her OH are well known knowledgeable professionals (in the horse world) and could offer an amazing home.

Sadly, due to the economic state of the country and her working hours being reduced the initial outlay for a horse is hard for her to find, although day to day costs are easily met. She has been offered a young horse on a payment plan because she would be the perfect home for it.

Tbh - there are quite a few, trustworthy, great homes out there for horses but unfortunately finding the lump sum to buy can be difficult. I would def consider a payment plan to a person like my friend.

Just because a person may not be able to afford a lump sum does not mean they are not able to provide for a horse. Take some full loan peeps. They can't afford to buy but their loan horse is kept in luxury!
 
You must log in or register to reply here.
Top