Horse Float Finance Deals for Equestrians: How a Broker Can Help You Get the Best Deal

For equestrians, owning a horse float is essential to ensure their horses can be transported safely and comfortably. However, purchasing a horse float can be a significant financial commitment, especially for those who may not have the full amount available upfront. Fortunately, there are various financing options tailored specifically for equestrians, offering flexibility and affordability. While applying directly with banks might seem like the straightforward option, working with a finance broker can offer several advantages, making it easier to secure the best finance deal for your horse float.

Types of Horse Float Finance Deals

1. Personal Loans Personal loans are a popular option for financing a horse float. They provide flexibility in terms of repayment, allowing you to borrow the full cost of the float without needing a deposit. With a personal loan, you can choose between fixed or variable interest rates. Fixed rates offer predictable monthly repayments, while variable rates may fluctuate, potentially affecting your budget. A personal loan is an unsecured loan, meaning the horse float itself is not used as collateral, offering you more freedom compared to secured loans. For equestrians who may not want to risk the float as collateral, this can be an attractive option.
2. Hire Purchase Agreements A hire purchase agreement is another financing option commonly used by equestrians. With a hire purchase, you make regular payments over a specified term, and once all payments are completed, you own the float. The benefit of hire purchase agreements is that they can be tailored to fit your budget, with flexible repayment terms and the option to structure payments based on your financial situation. For equestrians, this option is ideal if you need to spread out the cost over a longer period without committing to the full upfront cost.
3. Leasing Leasing is an option for equestrians who may not want to commit to ownership but still need a horse float for transport. Leasing allows you to rent a float for a fixed term, with the option to purchase it at the end of the lease. Leasing agreements often offer flexible terms and low initial costs, making them a good choice for equestrians who only need a float for specific events or seasons. While you won’t own the float at the end of the lease unless you choose to purchase it, leasing can provide affordable access to high-quality equipment for a set period.
4. Chattel Mortgages For equestrians running a business, a chattel mortgage may be the most suitable option. This type of financing involves borrowing money to purchase a horse float, with the float itself serving as collateral for the loan. Chattel mortgages are often used by businesses to claim GST credits and tax deductions, but they can also be an option for individual equestrians. With competitive interest rates and flexible repayment terms, a chattel mortgage allows you to secure the full cost of the float and spread the payments over time.
5. No Deposit Financing If you don’t have the funds for a deposit, no deposit financing can be an appealing option. Some lenders offer no deposit loans, allowing you to finance the full cost of the horse float without having to provide an upfront payment. While no deposit loans may come with slightly higher interest rates to offset the lender’s risk, they can still provide a viable financing solution for equestrians looking to get their hands on a float without the need for a large initial outlay.

Why Use a Broker for Your Horse Float Financing?

While there are various financing options available for equestrians, applying directly with banks may not always be the best route. This is where working with a finance broker can provide a significant advantage. Brokers specialize in matching borrowers with the most suitable lenders and loan products based on their unique needs and financial situations. Here are some reasons why using a broker can be beneficial when financing your horse float:

1. Access to Multiple Lenders

Unlike banks that may offer a limited range of loan products, brokers have access to multiple lenders, including both banks and non-bank financial institutions. This gives you more options to choose from, ensuring that you can find a loan product that best suits your needs, whether you’re looking for lower interest rates, flexible repayment terms, or a specific type of loan.

2. Better Rates and Terms

Brokers have established relationships with lenders and understand how to negotiate better terms on behalf of their clients. If you’re an equestrian looking to finance a horse float, brokers can help secure more competitive interest rates, which can save you money in the long run. They know where to find the best deals, ensuring you don’t end up paying more than necessary for your float.

3. Tailored Solutions

Each equestrian has unique financing needs. Brokers take the time to understand your individual circumstances, whether you're a recreational rider or a business owner, and help find a solution that aligns with your budget and goals. They can suggest various loan products, from personal loans to hire purchase agreements, and advise you on which option is best suited to your situation.

4. Time and Effort Savings

Applying for financing can be time-consuming, especially when you’re dealing with multiple lenders or complex loan products. Brokers handle all the paperwork and liaise with lenders on your behalf, saving you valuable time. Instead of filling out applications with multiple banks, brokers streamline the process and make the entire experience much more efficient.

5. Expert Advice and Guidance

Brokers are financial experts who can provide invaluable advice when it comes to horse float financing. They’ll help you understand the various loan products available, explain the terms, and ensure you fully understand the costs involved. If you’re unfamiliar with financing options or need assistance navigating loan agreements, brokers are there to guide you through every step of the process.

Conclusion

Financing a horse float is a significant decision for equestrians, and finding the right financing option is key to ensuring a smooth and affordable purchase. Whether you opt for a personal loan, hire purchase agreement, leasing, or no deposit financing, there are flexible financing options available to suit your needs. However, instead of going through the often complicated process of applying directly with banks, using a finance broker can offer you greater access to a range of lenders, better loan terms, and tailored advice. A broker can help ensure that you secure the best deal for your horse float financing, making the process easier, quicker, and more cost-effective.

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.