Applying for horse float finance doesn’t have to be complicated. Once you submit your horse float loan application through Horse Float Loans, the lender reviews your details and may request supporting documents. After approval, there are still a few steps to complete before the funds can be transferred.
Horse Float Finance Requirements
The horse float finance requirements change according to the finance you are applying for and what the lender needs to verify. A refinance, for example, involves an existing loan that is being paid out.
For applicable consumer credit, ASIC’s responsible lending guidance says credit licensees must make reasonable enquiries about the consumer’s financial situation, requirements and objectives, take reasonable steps to verify the financial situation and assess whether the credit contract is not unsuitable.
If the lender needs to verify information in your application, you will be asked for documents that support it. Depending on the application, you may be asked for information relating to:
- Your financial position
- The horse float or gooseneck being financed
- The finance requested
- An existing finance arrangement where refinancing is involved
Do not assume that a document list for one type of horse float finance will apply unchanged to another.
Credit Assessment and Approval
Completing the horse float finance application process puts the information needed for assessment into the lender’s hands. Our online application takes around five to ten minutes to complete.
Once you submit the application, the lender assesses the information provided and checks supporting documents where required. If further information is required, it has to be supplied before the application can progress.
A used float may be purchased from a dealer or private seller. We finance purchases through both, so the application needs to identify the float and transaction being financed.
Approval and Settlement
Receiving approval doesn’t mean the seller has received the purchase money. The necessary loan documents must still be completed and settlement finalised before the funds are transferred.
Pre-approval is subject to full approval, and you may need to provide additional supporting documents or updated information before your loan can be finalised.
Found the perfect float or still searching? Start your horse float finance approval process with Horse Float Loans and explore your finance options before making your purchase.