🚛 Can You Get Horse Float Finance for a Second-Hand Float?
Yes! Many lenders offer finance for second-hand horse floats, but the process differs slightly from financing a new float. Lenders want to ensure the float is in good condition and holds sufficient resale value.
To improve approval chances, lenders may require:
✔️ A pre-purchase inspection or valuation
✔️ A secured loan using the float as collateral
✔️ Proof of sale agreement from the seller
✔️ A PPSR (Personal Property Securities Register) check to verify no existing finance
🏦 How Lenders Assess Second-Hand Horse Float Finance Applications
Lenders take extra precautions when financing used floats to ensure they are roadworthy and not overpriced.
| 🔑 Factor | Why It Matters | How It Affects Approval |
|---|---|---|
| 📑 Age of the Float | Older floats may have lower resale value | Floats over 10+ years old may have fewer financing options |
| 💰 Float Condition | Ensures the float is safe and insurable | Pre-purchase inspection may be required |
| 🚛 Loan Security | Using the float as collateral lowers risk | Secured loans offer better rates |
| 📆 PPSR Check | Confirms the float has no existing finance or encumbrances | Required for private sales |
| 📉 Sale Agreement | Verifies purchase price and ownership transfer | Needed before loan settlement |
💡 Tip: If the float is older or has high mileage, a personal loan may be a better option than a secured loan, as some lenders won’t finance older assets.
📋 Best Finance Options for Second-Hand Horse Floats
If you’re buying a used float, these loan options may be best:
| 🔑 Loan Type | How It Works | Best For |
|---|---|---|
| 🚛 Secured Horse Float Loan | Uses the float as collateral for lower rates | Buyers of relatively new second-hand floats |
| 💰 Personal Loan | Unsecured loan with no float verification needed | Buyers of older or cheaper floats |
| 📆 Private Sale Loan | Specifically structured for private purchases | Buyers needing extra security checks |
| 📉 Guarantor Loan | A family member co-signs to improve approval odds | Buyers with low income or limited credit history |
💡 Tip: Some lenders limit secured finance to floats under a certain age (e.g., 5–10 years old), so check with your lender before applying.
🏆 Pros & Cons of Second-Hand Horse Float Finance
✅ Pros:
✔️ Second-hand floats are cheaper than new models
✔️ Private sales may offer better deals than dealerships
✔️ Secured loans provide lower repayments than personal loans
⚠️ Cons:
❌ Older floats may not qualify for secured finance
❌ Private sales require extra checks like PPSR verification
❌ Some lenders require a mechanical or safety inspection
💳 Why a Finance Broker Can Help with Second-Hand Horse Float Loans
A finance broker can:
✅ Find lenders that finance second-hand floats
✅ Assist with PPSR checks and ownership verification
✅ Secure a loan structure that fits your budget and float condition
🔑 Final Thoughts
If you’re buying a second-hand horse float, you can still get finance, but lenders may require extra checks like a PPSR report, sale agreement, and a float condition assessment. If you’re purchasing from a private seller, working with a finance broker can help you secure the best loan terms and avoid common pitfalls.
🚀 Buying a second-hand horse float? Get expert advice today
DISCLAIMER
The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.
