🚛 Can You Get Horse Float Finance With No Credit History?
Yes! Some lenders offer horse float finance to first-time borrowers, but approval depends on:
✅ Whether you have stable income (e.g., full-time or part-time work)
✅ Your ability to provide a deposit or collateral
✅ If you have a guarantor to back your loan
✅ Loan type (secured loans are easier to get approved for)
💡 Tip: First-time borrowers should look for lenders that offer ‘first-time buyer’ loans or consider working with a finance broker to find the best options.
🏦 How This First-Time Buyer Secured Finance With No Credit History
A 22-year-old horse rider wanted to buy their first horse float but had no prior loans or credit cards—meaning they had no credit history. They secured finance by using these key strategies:
| 🔑 Strategy | ✅ How It Helped |
|---|---|
| 📑 Applying for a secured loan | The horse float was used as collateral, reducing lender risk |
| 🚛 Providing a 10% deposit | Showed financial responsibility and commitment to repayment |
| 💰 Having a stable income | A full-time job reassured lenders of repayment ability |
| 📆 Getting a guarantor | A parent co-signed the loan, increasing approval chances |
💡 Tip: If you don’t have a credit history, offering a deposit or using a guarantor can significantly improve your chances of approval.
📋 How to Increase Your Chances of Loan Approval With No Credit History
If you’re a first-time borrower, these steps can help you secure horse float finance:
| 🔑 Strategy | ✅ How It Helps |
|---|---|
| 📑 Apply for a Secured Loan | Using the horse float as security lowers lender risk |
| 🚛 Save for a Deposit | A larger deposit reduces the amount you need to borrow |
| 💰 Provide a Guarantor | A co-signer with a strong credit history boosts approval chances |
| 📆 Show Proof of Stable Income | Payslips or bank statements demonstrate repayment ability |
| 📉 Build Credit First | A small credit card or buy-now-pay-later account can help establish history |
💡 Tip: Some lenders offer ‘first-time borrower’ loans specifically designed for those with no credit history.
🏆 Best Loan Options for First-Time Horse Float Buyers
Different loan types are available depending on income, collateral, and lender requirements.
| 🔑 Loan Type | ✅ Best For | 📉 Interest Rate (Typical) |
|---|---|---|
| 🚛 Secured Loan | First-time buyers with a deposit or collateral | 5–12% p.a.* |
| 💰 Guarantor Loan | Applicants with no credit but a co-signer | 6–10% p.a.* |
| 📆 Low-Doc Loan | Self-employed buyers with irregular income | 7–15% p.a.* |
| 📉 Personal Loan (Unsecured) | Borrowers with stable income but no collateral | 10–20% p.a.* |
💡 Tip: If you have no credit history, a secured loan or guarantor loan may be the best option for lower interest rates.
(*Rates vary based on lender and credit profile.)
💳 Why a Finance Broker Can Help First-Time Buyers Get Approved
A finance broker can:
✅ Connect you with lenders that accept first-time buyers
✅ Help you find the best interest rates and loan terms
✅ Assist with securing a guarantor or deposit options
🔑 Final Thoughts
Getting horse float finance with no credit history is possible if you have stable income, provide a deposit, or use a guarantor. First-time buyers should explore secured loan options and work with a finance broker to improve their approval chances.
🚀 Looking for horse float finance as a first-time buyer? 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.
