🚛 How Does Horse Float Finance Work in Western Australia?
If you’re buying a horse float in WA, you can finance it through banks, credit unions, private lenders, or dealer finance. Since WA covers large rural areas, lenders may have different criteria depending on whether you’re based in Perth or a regional area.
To increase your approval chances, lenders may require:
✔️ Proof of stable income (payslips, tax returns, or bank statements)
✔️ A secured loan (using the float as collateral) for lower interest rates
✔️ A deposit to reduce borrowing risk
✔️ Proof that the float meets WA Department of Transport regulations
💡 Tip: WA-based lenders may have flexible loan terms for rural buyers or equestrian business owners who need a float for work.
🏦 Lender Requirements for Horse Float Finance in WA
Lenders in Western Australia follow national lending standards but also consider state-specific factors like road registration requirements and the borrower’s location (metro vs. rural areas).
| 🔑 Factor | Why It Matters | How It Affects Approval |
|---|---|---|
| 📑 Credit Score | Determines your borrowing risk | A higher score leads to better loan terms |
| 💰 Income Stability | Ensures loan affordability | Full-time work improves approval odds |
| 🚛 Loan Security | Using the float as collateral lowers risk | Secured loans offer lower rates |
| 📆 Deposit Amount | Reduces lender risk | A 10-30% deposit improves chances |
| 📉 WA Road Registration Compliance | Ensures legal road use | Some lenders require proof of registration before approval |
💡 Tip: If you’re buying a used horse float in WA, check the Personal Property Securities Register (PPSR) to ensure it has no outstanding finance before applying for a loan.
📋 Best Finance Options for Horse Floats in WA
Depending on your financial situation, you may qualify for different loan types:
| 🔑 Loan Type | How It Works | Best For |
|---|---|---|
| 🚛 Secured Horse Float Loan | Uses the float as collateral for lower rates | Buyers with good credit & stable income |
| 💰 Low-Doc Loan | Requires minimal paperwork (bank statements, BAS) | Self-employed buyers without full tax returns |
| 📆 Guarantor Loan | A family member co-signs to improve approval odds | First-time buyers or low-income applicants |
| 📉 Personal Loan | Unsecured loan for fast approval | Buyers needing quick access to funds |
💡 Tip: If you use the horse float for business, a chattel mortgage may allow you to claim GST benefits and tax deductions in WA.
🚦 Western Australia Horse Float Registration & Road Rules
Before applying for horse float finance in WA, ensure your float meets WA Department of Transport (DoT) regulations.
✅ WA Horse Float Registration Requirements:
- All new and used horse floats must be registered with WA DoT
- Second-hand floats require a Vehicle Identification Number (VIN) check
- Horse floats under 4.5 tonnes (GVM) can be registered without a roadworthy inspection
- Custom-built floats must meet WA DoT design & compliance standards
- Some lenders require proof of registration before approving finance
💡 Tip: If you’re financing a second-hand horse float in WA, make sure the seller provides a valid registration certificate to avoid delays.
🏆 Pros & Cons of Horse Float Finance in WA
✅ Pros:
✔️ WA has many lender options for metro and rural buyers
✔️ Secured loans provide lower repayments and better interest rates
✔️ Business owners may qualify for GST claims on horse float finance
⚠️ Cons:
❌ Some lenders require a deposit or guarantor for approval
❌ Loan approval may take longer if the float is unregistered or custom-built
❌ Regional buyers may have fewer lender options compared to those in Perth
💳 Why a Finance Broker Can Help with Horse Float Finance in WA
A finance broker can:
✅ Find lenders that offer finance for WA buyers
✅ Assist with registration, compliance, and finance approval
✅ Secure a loan with flexible repayment options
🔑 Final Thoughts
If you’re financing a horse float in Western Australia, lenders will assess your credit score, income, and the float’s compliance with WA DoT regulations before approval. Whether you choose a secured loan, a personal loan, or a business chattel mortgage, working with a finance broker can help you find the best deal.
🚀 Need horse float finance in WA? 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.
