Posted 2012-06-27 8:18 PM (#145179 - in reply to #145177) Subject: RE: Horse financing.
Expert
Posts: 3853 Location: Vermont
Originally written by piotrcane on 2012-06-27 7:54 PM
Anyone ever financed a horse? If so, bank or something other?
People don't finance horses...which is why tractors finally overtook horses on farms, because you could buy a tractor on credit...TEAMS were and still are cash on the barrel head... you'll need to get a signature loan or put up some other asset that the bank can put a lien on
Posted 2012-06-28 8:36 AM (#145189 - in reply to #145177) Subject: RE: Horse financing.
Member
Posts: 7
I've never financed a horse personally; however, JP Morgan Chase did have an equine lending department a few years ago (if it's still in existence) based out of Lexington. I also know of people doing refinances on their homes and taking out LOC's to purchase high-end show horses. IMO, I would never finance a horse - it's just too much of a liability if the horse dies or gets injured and you're stuck paying off a useless loan.
Horse financing.
