Credit for horse

 

 

Long-term horse owners are less likely to need a loan for the horse than buyers of the first horse. Horse friends spend between 1,000 USD and up to 150,000 USD on the purchase.

It would be presumptuous to present you with a specific loan offer as the “top loan for horse owners”. Instead, we will present you with suitable solutions for frequently recurring loan requests and will not leave you in the dark about horse prices.

Loan for the horse – prices for buying a horse

Loan for the horse - prices for buying a horse

People who describe themselves as close to nature come (sooner rather than later) on horseback as a partner for leisure activities. Children often confront their parents with the desire to have a horse. They present the right horse on sales portals. At the latest when looking at the prices of noble horses, the loan for the horse comes to mind. Beautiful, healthy horses with a good pedigree really cost money.

How much money may be justified to spend on a horse is in the eye of the beholder. Even the mating of a noble stallion can cost the breeder between 1,000 USD and 10,000 USD. Few horse lovers are of course looking for a weanling foal. In a fair purchase price from the breeder, the rearing over four years and horse training would also have to be reflected.

If every handshake was paid up to a fully trained riding horse, maybe 10 percent of all horse owners could afford their horse. The prices actually charged for a horse are correspondingly virtual. For example, a horse known to distance fans to this day was even given away before its resounding success. As the “champion”, 100,000 USD were on the table for the same mare. However, she never changed hands again.

Financing needs for a good leisure horse

Financing needs for a good leisure horse

The small example of the mare Corky shows that determining the real value of a horse is not easy for even experts. As a result, credit institutions lack the secure valuation basis to offer a loan with the horse as security. For real horse lovers, the value is determined on an emotional level and not by the number of golden bows on the head.

A realistic price for a healthy leisure horse starts at around 3,000 USD and ends at well below 10,000 USD. Within this range, free loan comparisons offer horse loan as a free loan. Depending on the personal creditworthiness and the required loan amount, the loan offers range between 1.79 percent and 3.89 percent effective interest.

For example, a 10,000 USD loan for the horse could be financed by the DKB at an effective annual interest rate of 3.89 percent that is independent of creditworthiness. With a term of 36 months, the credit comparison calculator calculates 294.45 USD as monthly installment payments. The fully financed horse purchase costs a total of 600.20 USD in financing costs.

If 3,000 USD of horse credit are sufficient, the financing from Santander would be interesting. Financed over a period of 36 months, the loan costs 1.79 percent effective APR regardless of creditworthiness. Monthly payments of 85.63 USD would have to be made. The program calculates a total of 82.82 USD in financing costs.

Horse owners are often not rich – quick credit

Horse owners are often not rich - quick credit

Most regular online installment loans can be legally applied for via Videoident. The application process can be completed in about 30 minutes. Assuming that the credit rating is sufficiently good, approved credit for the horse would be paid out within approximately 48 hours. Unfortunately, it is not equally easy for every horse owner to get regular credit.

Contrary to the public image of the “rich horse owner”, many keepers are significantly less wealthy than their reputation. They invest every cent they earn in their hobby. In order to be able to transport the horse, they drive a “fat Daimler”, which they still “stutter”. The annual maintenance costs for the horse are often more expensive than the most expensive long-distance trip. With a normal income, good creditworthiness is therefore not necessarily to be assumed.

The loan for the horse becomes urgent as soon as the veterinarian is called. If the overdraft facility is then insufficient, a quick short-term loan is often the best solution. For example, Agree Bank promises the loan with payment in 24 hours or faster. In the case of short-term loans, the credit check is not as “hard” as for an installment loan. Agree Bank grants first-time applicants up to 500 USD in quick credit for the veterinarian, with a term of 30 days.

Installment loan with poor credit rating – private lenders

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Not everyone interested in credit can hope to be able to afford credit and actually get it from a bank at low interest rates. Current bank loans are cheaper than ever, but the hurdles to lending are constantly increasing. Due to the legal situation and the low profit margins for lending, commercial lenders can only grant secure loans.

It is different with private lenders. They offer credit solutions when bank credit doesn’t offer the best alternative. Private investors via Astro finance or Best bank would be responsive to a loan for the horse. Both portals established privately granted credit in Germany as an alternative to bank credit and confidently lead the market. More than just a loan for the Shetty Pony is possible from the private sector if sufficient investors offer it.