A used horse float could just be the answer to your needs as a horse owner in need of an affordable transportation option. It can get you on the road with your equine companion without the significant upfront cost of a new model.
However, financing a pre-owned horse float comes with its own set of challenges, so Horse Float Loans is here to highlight the top five mistakes to avoid, saving you from a bad purchase.
1. Not Getting the Float Inspected First
Falling in love with your float-to-be can be easy, but a hidden structural issue could be a costly disaster. Before you sign any finance documents, have a professional, independent mechanic or float manufacturer inspect the float. Look out for rust and assess the condition of the suspension, tyres and brakes.
2. Failing to Research the Float’s History
The secret to successful used horse float loans is doing thorough research and asking the right questions, such as why the owner is selling. You will need to know if there is any money owing on the float from a previous owner, any accident history or previous damage, and details about its service and maintenance history.
3. Overlooking the Float’s Age
Older assets may sell for a cheaper price but are seen as a higher risk by lenders and insurers. A very old horse float may only be eligible for a personal loan with a higher interest rate, while a newer trailer might qualify for finance with more favourable terms.
4. Not Comparing Lenders and Rates
Take your time and compare finance options, as lenders have different criteria. Some specifically finance used horse floats and may offer you better terms. You could contact a broker or use multiple lenders from a variety of providers in your area to save you a substantial amount of money in interest over the life of the loan.
5. Settling for Second Best
While perfection may not always be attainable, do not settle for less than the essentials. Make sure the horse float is a size that your current vehicle can legally tow, and check your vehicle’s towing capacity to be safe. Be sure that it has sufficient ventilation for your horses. A safe towing setup and one that is comfortable for the animals is non-negotiable.
It is possible to enjoy a smooth journey with your pre-owned horse float financing when you work with Horse Float Loans in Australia. Contact us for a process that ticks all the boxes for stress-free, lasting financing solutions.