I have been offered my loan horse to buy

[kate123]

I got a horse on loan about 6 months ago, and I have just been offered the chance to buy him. I would love to, but I'm only 15 so it wouldn't really be me buying him. I know that in a few months I'll be 16 and I'll be getting some money for that and we'll be moving house so I'll be getting a bit of money from that. This will add up to probably about 1/4 of the price that the horse will be to buy. The owner has said she will take installments for him, so I think the money I will get will make a good deposit, and pay the rest in installments. The thing is, i don't know where the rest of the money would come from for the next 10 months (I plan on leaving education at 16 and getting a job, possibly just for a year, please don't lecture me though, it is my decision), so I would be able to pay it then, it's just the initial 10 months that I'd be worried about. I can see my mum just saying sorry no we can't afford him, he'll just have to be sold to someone else, but i would hate for this to happen.
Can anyone give me any advice about how to try and keep my horse? Thanks

[Ryan&Dizzy]

r they definatly going to sell him or is there an option for u 2 keep him on loan?

is there anychance that ur mum/dad would lend you the money and u cud pay them bak wen ur working? (thats wot i did!)

i was also only 15 wen i got mine so no how u feel i no this will sound awful at the min but wud it b such a bad thing if he did get sold to some1 else and u got another on loan untill u can afford to get 1 of ur own? u also have to remember that u will have to pay for the keep of the horse as well as the installments for buying him

sorry if i sound like a stinker but just think carefully about it before u make a commitment!

[kate123]

Thanks for the advice, I don't know whether or not she will sell him if we don't buy him, or if we coudl just keep him on loan, will have to find out. he isn't actually costing anything for us to keep at the moment as he is being used for different activities which mean he is almost paid for for us (we only have very small amounts to pay towards his keep) (sorry can't put in any proper details yet). He is not perfect, but I like him so much I don't think I could bare to get a different one instead. I think my parents may consider lending me the money, so that could be an option. thanks for the help

[varkie]

How about asking if she would hold him for another 6-12 months until you can afford to make payments on him?

I think you probably need to sit down & have a good chat with the owner. Decide if you definitely want him, and if you do, tell her so, and ask what she will accept to let you have him.

[Susan]

Can I put another perspective on this without seeming to be a kill joy as that is not what I am doing.

I have loaned 11 horses/ponies over the years for my daughter including a horse for myself, when my daughter took a back seat to it.

The reason I loaned was I didnt have the money to buy one AND keep one.

Then the last one, who I was told was for his lifetime, who I loved so much and believed was mine for his life, was suddenly being sold.
I choose to not buy him and that is another tale

But I then decided to buy my own, and fill my dream to have a youngster and have my own mistakes not having to undo others. But I am in a different financial situation as I am older and wiser, because I could get the money together to buy what I got and afford to maintain him within my budget.

What I am saying is this, keeping one and looking after one that isnt your own, is not the same as owning and first finding the funds to buy on a severe restriction and still find the funds to keep one. Horses are extremly risky at the best of times. They have 4 legs which are a risk in themselves. They have things happen out of the blue, like being silly in the field and injuries you cannot foresee happening.

The cost of keeping and being totally responcible is not the same as loaning, at least not in my cases, and I think I experienced most cases and I did have the very worst happen. A loan only 4 weeks that got kicked in the field and had to be PTS.

So do think very long and hard, really talk this through with your parents. Horses are full time and 24/7 and 52 weeks of the year commitment, all weathers.
The finances of buying is only one small part of it all. You may need your family to help out and not know that now and if they are behind you it will help such a lot. If they arnt and it all goes belly up, it will be very hard and another thread saying, Im in a mess Help!
In a couple of years you may say I want to learn to drive and have a car and I cant , I have a horse.

So do consider everything that is involved, insurance, worming,vacs, Tack, rugs, bandages, first aid, feed, hay, bedding, stabling, shoeing,livery if circumstances change. then even more as a back up, like vets bills that are not worth claiming on.

Think really this all through and most of all, if this was a horse for sale, and you went out there looking is he/she what you would buy at the monesy asked.
Take off the emotional hat and think..
If after all of that you still can afford to do this and want him/her, then go for it..

I hope I have helped you

Good Luck

[kate123]

Thanks again for the help, I think I gave the wrong impression in my first post - I have owned ponies/horses before and I outgrew them (the ponies), so I am not completely new to it! We already own one pony that I used to look after and before that I have had an older pony to look after.
I understand that it is a huge responsibility, but I am able to cope with that - I would much rather spend my time and money on a horse than anything else I think.

[pip]

What was the arrangement when you took him on originally? This is quite a common ploy for people wanting to sell something. They say "have him on loan" then when you have got really fond of him (and we always do get fond of them) they suddenly say "My circumstances have changed and I have got to sell him now, quickly." - betting that the person with the horse will buy it. Whereas if you had been looking to buy something, is this the horse that you would have bought?

I know this is very cynical, it is just my age!

You have got to be sensible about the money side too. Owning ahorse is a big committment and even if you are earning, at 16 you won't be getting that much. You have really got to think this through and get the agreement of your parents because they will have to be in the background as a last resort. Still, they might agree if it means you won't have the money to go out drinking and night clubbing. Some parents might think it is a good exchange!

[gem]

I would really sit and think about it, because if you buy him now and then something happens how will you pay the vets bills? For example I bought Sky and 3 months later she went lame, it turned out she had done her suspensory ligament. I was still paying for her on installments and I had vets fees on top of that (fortunately the insurance covered most of it) but what the insurance didnt cover was the box rest, the additional feed, bedding loss of a horse to ride.

She was bought to event and yet i barely rode her for 2/3 years due to her liagament. Fortunately she has great abilities in dressage and great conformation so I have decided to breed from her before bringing her fully into work again.

Can you account for having a horse that cant be ridden for a year ? What will you do if these activities that he is used for have to be stopped?

[danielle]

Hmmm, I can only echo what the others have said. I bought Storm and then he developed a Tumour in his eye, needed an operation etc, the vets fee's came to nearly £1,000 for it and although the insurance covered some of it I had to find the rest.
We also had a rescue pony and he wasn't insured and he had to be put to sleep so had to pay for that and the cost of someone to come and take body away.
I think it's the things that you don't bargain for happening are the things you need to consider how you will pay for.
Are you sure you are up to this financially and are your parents going to help you out, at 16 you will only be on Nat; Min wage if you do get a job, not enough to keep a horse and pay for all the things to do with him, you will need your parents as back up.

[tf]

I was 'looking after' a pony for my neighbours as a favour which lasted over 2 years and had been led to believe that he would stay with me indefinitely,one day they announced that they were taking him away..I was devastated and as I had actually paid for feed,farrier etc the whole time,I felt pretty used! I was new to all things horsey and hadn't established any formal agreement so I had no rights at all,I hadn't thought it necessary,what a fool! After a few months I was able to buy two lovely little fellas and altho' I miss Shamrock very much,one of my new ones is almost his double,I am now very pleased to have them ..Sometimes people do use you and play on your kindness so you have to be sure that you don't make a decision to quickly...good luck..

[kath]

Can I just ask if the owners are being realistic in the pricethey are asking for this horse. As Pip above points out it can be a good trick to loan till your in love then give you a silly price to buy because they know you want him so badly. This may not be the case here but just wondered how much was being asked and for what?