Perhaps you need a horse float for recreational horseback riding, or you need a new horse float to expand your equine business. Whatever the case, if you can’t afford to pay for the float in cash, you will need to apply for horse float finance in NSW.
However, if you want to ensure that you get approved for a favourable loan, here are some of the mistakes you should avoid:
Taking The First Loan Offer You Receive
When you apply for horse float finance in NSW, apply to multiple lenders and compare the offers that you receive. Alternatively, you could apply through iCREDIT Horse Float Loans and let us do the comparing for you.
If you rush into financing with the first lender you find, instead of shopping around for the best rates and terms, you might end up with a loan that is not favourable. Compare the interest rates, repayment terms and any hidden fees before signing the contract.
Ignoring The Total Cost Of Ownership
It is a common mistake for buyers to focus only on the monthly repayments without considering additional costs. These could include things like insurance, registration and roadworthy certification, as well as maintenance and potential modifications that may be required for the horse float. Always factor these costs in when budgeting for your horse float finance in NSW.
Financing A Horse Float That Does Not Meet NSW Regulations
In NSW, there are specific roadworthiness and registration requirements for horse floats. If you buy a horse float that is non-compliant, it can result in you having to fork out additional funds for modifications, for instance, on the braking system or to adjust the weight distribution.
Always make sure that the horse float you have in mind meets Transport for NSW standards before finalising the deal.
Underestimating The Impact of Your Credit Score
Your credit score plays a crucial role in the kind of horse float finance in NSW that you are able to get. If your credit score is poor, you are likely to face higher interest rates or may even fail to be approved at all. Always make sure that you know your credit score before you apply for loans and work on improving it if possible.
iCREDIT Horse Float Loans will help you compare loan offers from multiple lenders to get the best deal. Apply online for horse float finance in NSW today!