Finance the Ride / Horse float finance
What Happens If You Want to Upgrade or Trade In a Financed Horse Float? 🔄🐴
🚛 Can You Upgrade a Horse Float While Still Paying Off a Loan? Yes! If you’re still making repayments on your current horse float loan but want to upgrade to a new model, you have several options. Many lenders allow...
- 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.
🚛 Can You Upgrade a Horse Float While Still Paying Off a Loan?
Yes! If you’re still making repayments on your current horse float loan but want to upgrade to a new model, you have several options. Many lenders allow you to trade in your current float and either:
✔️ Roll over the remaining loan balance into a new finance agreement
✔️ Pay off the existing loan with the trade-in value
✔️ Refinance to adjust your loan terms for the upgrade
🏦 How Trading In a Financed Horse Float Works
If your current horse float still has an outstanding loan, you’ll need to work with both your lender and the dealer/private buyer to finalize the trade. Here’s how it typically works:
| 🔑 Step | What It Means | How It Affects Your Loan |
|---|---|---|
| 📋 Check Your Loan Balance | Request a payout figure from your lender | Determines how much you still owe |
| 💰 Trade-In Offer | Get an offer from a dealer or private buyer | Can be used to pay off your current loan |
| 📉 Pay Off the Existing Loan | If the trade-in value covers your loan, you’re clear | If not, the remaining balance may be rolled into a new loan |
| 🚛 Finance the New Horse Float | Apply for a new loan for the upgraded float | Can include any remaining balance from the old loan |
💡 Tip: If your current loan has a balloon payment, check with your lender to see if trading in is the best financial move.
🔄 Can You Refinance Instead of Trading In?
If you’re not ready to trade in but want to lower your repayments before upgrading, refinancing could be an option. Refinancing can help you:
✔️ Secure a lower interest rate
✔️ Reduce monthly repayments
✔️ Change loan terms to better suit your budget
💡 Tip: A finance broker can help compare options and see if refinancing or a trade-in is the best strategy for your situation.
💳 Why a Finance Broker Can Help with Trade-Ins and Upgrades
A finance broker can:
✅ Help you refinance or roll over an existing loan
✅ Find lenders that allow trade-ins on financed horse floats
✅ Secure better rates and terms on your next loan
🔑 Final Thoughts
If you’re thinking about upgrading your horse float, you don’t have to wait until your loan is paid off. Whether you trade in, refinance, or roll over your loan, a finance broker can help you find the best option for your next purchase.
🚀 Looking to upgrade your horse float? Get expert advice on trade-in finance 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.
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