🚛 Can You Use a Guarantor to Get Horse Float Finance?
Yes! A guarantor can help you secure horse float finance if you have:
✅ A low income or unstable employment
✅ A poor or no credit history
✅ Insufficient deposit or assets
✅ High existing financial commitments
💡 Tip: A guarantor should be financially stable and have a strong credit history to increase approval chances.
🏦 How This Couple Used a Guarantor to Get Approved
A young couple wanted to finance their first horse float but faced rejection due to a lack of credit history and low savings. They secured finance by:
| 🔑 Strategy | ✅ How It Helped |
|---|---|
| 📑 Getting a guarantor | A parent co-signed, providing extra security for the lender |
| 🚛 Choosing a secured loan | Used the horse float as collateral to reduce lender risk |
| 💰 Offering a small deposit | Even a 5% deposit reassured the lender |
| 📆 Providing proof of stable income | Payslips and tax returns helped prove repayment ability |
💡 Tip: Some lenders require the guarantor to be a homeowner or have a strong financial background to qualify.
📋 How to Find a Suitable Guarantor for Horse Float Finance
A guarantor should be someone financially responsible who understands the risks involved.
| 🔑 Guarantor Criteria | ✅ Why It Matters |
|---|---|
| 📑 Strong Credit History | Higher chances of loan approval |
| 🚛 Stable Employment | Shows ability to cover payments if needed |
| 💰 Owns Property or Assets | Some lenders prefer homeowners as guarantors |
| 📆 Low Existing Debt | Reduces financial risk for the lender |
💡 Tip: A guarantor doesn’t make repayments unless the primary borrower defaults, but they should be fully aware of their responsibilities.
🏆 Best Loan Options for Guarantor-Assisted Horse Float Finance
Using a guarantor can help you access better loan terms.
| 🔑 Loan Type | ✅ Best For | 📉 Interest Rate (Typical) |
|---|---|---|
| 🚛 Guarantor Loan | Borrowers with low income or no credit | 6–10% p.a.* |
| 💰 Secured Loan | Borrowers who can provide a deposit or collateral | 5–12% p.a.* |
| 📆 Low-Doc Loan | Self-employed borrowers with a guarantor | 7–15% p.a.* |
| 📉 Personal Loan (Unsecured) | Borrowers with high credit scores | 10–20% p.a.* |
💡 Tip: A guarantor loan can sometimes offer lower interest rates than other financing options.
(*Rates vary based on lender and credit profile.)
💳 Why a Finance Broker Can Help You Secure a Guarantor Loan
A finance broker can:
✅ Match you with lenders that accept guarantors
✅ Explain guarantor loan terms and risks
✅ Find the best interest rates and repayment structures
🔑 Final Thoughts
A guarantor can help borrowers with low income, no credit, or little savings secure horse float finance. Ensuring the guarantor understands their responsibility and working with a broker can improve approval chances.
🚀 Need horse float finance with a guarantor? 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.
