SubscribeGift a Sub
Enable cache 100
Categories: Horse Illustrated

Ten Things to Know About Financing a Horse Trailer

If you plan to finance a new or used horse trailer, there are many options available through trailer dealerships and manufacturers, as well as banks, credit unions and other lending institutions. Here are some basics to keep in mind when choosing a financial package that meets your needs:



1. Contact your lending institution first to find out what’s available to you. That way, during sales negotiations you’ll know how various dealership financing plans stack up against what your bank can offer.



2. Look for a financing plan that offers simple interest (not compounded) and one that has no penalty points for early pay-off.

3. Don’t use a charge account as a financing option. Credit card interest rates are high and typically compounded monthly.

4. A horse trailer is considered a recreational vehicle, not a necessity (like a home or car). As a result, expect a slightly higher interest rate.

5. If you need help financing the tax, license and registration fees of a new trailer, make sure the financial institution will include these fees in the cost of your financing.

6. In order to get an accurate picture of what loans you qualify for, a lending institution must run a credit check on you. An abundance of credit checks can negatively impact your overall credit rating.

7. Stay away from predatory lenders who offer deals that seem too good to be true. Make sure there are no hidden fees that will catch you by surprise down the road.

8. When evaluating a loan’s terms, calculate how much interest you’ll be paying over the life of the loan to get an accurate picture of just how much the trailer is really costing you.

9. Choose a loan package that fits your budget. If the monthly payments look like they’ll be hard to make, they are too much for you. Find out if the lending institution can spread the loan out over a greater period of time. Some institutions offer loan terms as high as 15 to 20 years for horse trailers.

10. Before signing on the dotted line, read the fine print and don’t let yourself get pressured. If necessary, take the loan paperwork home for review. If you have friends or family members who have a good understanding of the borrowing process, ask them to review the paperwork with you. You want to walk away from a deal feeling like you got the best financing possible!

Abigail Boatwright

Abigail Boatwright is a freelance writer and photographer based in Texas, and is the editor of Horse Illustrated’s sister publication, Western Life Today.

View Comments

Recent Posts

AHP Equine Industry Survey Returns in 2025

Horse owners who live in the United States, are 18 years of age and older, and currently own or manage…

2 days ago

Is My Horse Cold? – An Excerpt from Keeping Horses Outdoors by Iveta Jebáčková-Lažanská

Is your horse cold in the winter? The following excerpt from Keeping Horses Outdoors by Iveta Jebáčková-Lažanská helps answer that question…

2 days ago

ASPCA Right Horse Adoptable Horse of the Week: Hali

Welcome to Horse Illustrated’s weekly installment of the Right Horse Adoptable Horse of the Week, offered in partnership with the…

3 days ago

Common Horse Training Mistakes

These four common horse training mistakes are easier to catch and correct when you’re aware of them. As a clinician,…

4 days ago

All About the American Warmblood

If you appreciate sport horses of many different breeding backgrounds, types and colors, the American Warmblood will unite you with…

6 days ago

Waste: ReImagined – ZahnTech Repurposes Waste for a Permanent Fencing Solution

LENNOX, S.D. — Every great innovation begins with a moment of clarity, and for ZahnTech's founder, Avery Zahn, it came…

1 week ago