We understand that safety, comfort and style are important considerations when buying a horse float.
How to Finance a Horse Trailer
There are a myriad of things to take into account when you're shopping for a new or used horse trailer; obviously the safety of your horse comes first, but style and comfort are also very important considerations.
Then there are all the practical issues like how much you can afford and setting a budget, whether to buy a new or used float, your tow vehicle, size of the float you need for your horse, how often you'll be using it, how far your horse will be travelling in it and whether you require a living area.
Given that you don't want to comprise on any particular aspect, getting finance for a horse float may make some of those decisions a bit easier.
What banks or finance companies provide horse float loans?
In general, most of the banks, credit unions and building societies do not have a specific horse float loan product.
Customers generally finance their purchase using an unsecured personal loan product.
The problem with this is that the loan assessment criteria for an unsecured personal loan is substantially higher as the bank doesn't have security over the horse float. This makes buying a horse float far harder for those buyers who are not home owners or buyers, have limited job stability or financial assets.
There are a limited number of finance companies that specialise in providing a secured loan for horse floats. In most cases, the relevant loan products are distributed via finance brokers due to the additional work required for originating a loan.
AFS specialises in financing all makes and models of horse floats and trailers. If you decide you need finance for a horse float, you can deal directly with AFS' sales team or you can choose to use a finance broker who can arrange the loan on your behalf and do all the paperwork for you.
In Australia, there are effectively two (2) loan products available to finance a horse float.
Interest Rates from:
8.45% p.a.* Fixed Rate
9.71% p.a.^ Comparison Rate
* Interest rate (Annual Percentage Rate/APR) is only applicable for new goods that have not been pre-owned, where the amount borrowed is greater than $35,000 and where the applicant owns or is buying their home and has an established good credit history. Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Interest rates vary depending on the applicant's credit score and associated credit risks. Credit provider is Automotive Financial Services Pty Limited – Australian credit licence 383762. ^Comparison rate for AFS Loan Contract and Mortgage is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Can I use a finance broker to arrange a horse float loan?
Yes. The AFS Horse Float Loan product is used extensively by finance brokers as many of mainstream asset finance lenders will often only lend on cars, boat and motorcycles.
Also if you were to arrange a loan through your bank, the relevant product is generally an unsecured personal loan which is often more expensive than their standard secured loan product.
Please note that if you use a finance broker you may be charged an origination fee which is separate to the AFS Fees & Charges but can also be financed as part of your loan. If you use a broker, you should ask for a copy of their credit guide and obtain a credit quote from them.
Can I arrange finance even though I'm still looking for the horse trailer?
Yes. AFS understands that finding the perfect horse float can take time, particularly given the level of investment required to get the right float or trailer.
However, once you've found the float of your dreams, the last thing you want to be doing is racing around trying to secure finance.
At AFS, we can arrange a conditional approval, valid for 30 days, that enables you to shop with confidence. And even if you run out of time, we can simply refresh your approval because we want you to buy the horse float you love.
Benefits of financing your horse float through AFS.