Finance the Ride / Horse float finance
Can You Trade In a Horse Float That's Still Under Finance?
How trading in or selling a horse float with finance owing works, including payout figures, negative equity, balloons and PPSR checks.
- No credit check to enquire
- Free to enquire, with no obligation to go ahead
- A licensed broker calls you, usually within one business day
Check my eligibility
About 60 seconds. No credit check to enquire.
Short answer: Yes. You can usually trade in a horse float that still has finance owing. The dealer gets a payout figure from your lender, pays the loan out and puts your trade-in value towards the new float. If the float is worth less than you owe, the difference has to be covered, either in cash or by adding it to the new loan, which increases what you'll repay.
How a trade-in with finance owing works
- Get a payout figure from your current lender. It's different from the balance on your statement because it can include interest to the payout date and any early termination fees.
- Get a trade-in valuation from the dealer. Condition, age, brand, and whether it's a straight or angle load all affect the price.
- Compare the two. If the trade-in value is higher than the payout, the surplus goes towards your next float. If it's lower, you have negative equity.
- Settlement. The dealer usually pays out your old loan directly, and the lender releases its security interest on the PPSR.
Positive vs negative equity
| Example only | Result | |
|---|---|---|
| Positive equity | Payout $12,000, trade-in $15,000 | $3,000 goes towards the new float |
| Negative equity | Payout $18,000, trade-in $14,000 | $4,000 shortfall to pay or refinance |
Rolling negative equity into a new loan is possible with some lenders, but it means borrowing more than the new float is worth and paying interest on the old debt. Think carefully before doing it.
If you have a balloon
If your current loan has a balloon, the payout figure includes it. That often means the payout is higher than people expect, especially early in the term. Ask your lender for the exact figure before you shop around.
Selling privately instead
You can sell privately, but the buyer will want the finance cleared, because a float with money owing can be repossessed by your lender even after it's sold. Buyers will often run a PPSR search. The usual approach is to pay the lender out at the time of sale, sometimes with the buyer paying the lender directly, and give the buyer written confirmation that the security has been released. Check your contract before selling. Most loans don't allow you to sell the float without paying out the finance.
Before you trade in
- Ask for the payout figure in writing, valid for a specific date.
- Get more than one valuation if you can.
- Check your registration transfer requirements with your state transport authority.
- If the float is used in a business, ask your accountant about GST and any gain or loss on disposal.
Upgrading a float that's still under finance? Tell us about your situation in about 60 seconds and a licensed broker will call you. No credit check to enquire.
Related guides
General information only. This isn't financial advice. Finance the Ride is a referral service and doesn't hold an Australian Credit Licence. Last reviewed September 2026.
About this guide. Written by the Finance the Ride team and last updated . It's general information for Australian borrowers, not financial advice, and doesn't take your circumstances into account. Finance the Ride is a referral service: we don't lend money or hold an Australian Credit Licence. About us