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Small loan to buy a horse

horseless
horseless Posts: 22 Forumite
Been looking on this website recently and it is great.

Have just got a new job and paid off all debts so have decided now is the time to buy my own horse.

I think i need between £2500 and £3000 to buy the horse and pay any initial costs.

Can anyone recommend the best loan or is there another way to get the money and pay back the least possible!

Cheers
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Comments

  • wigginsmum
    wigginsmum Posts: 4,150 Forumite
    If you've paid off all your debts, what's wrong with saving up for one? That way you stay debtfree.
    The ability of skinny old ladies to carry huge loads is phenomenal. An ant can carry one hundred times its own weight, but there is no known limit to the lifting power of the average tiny eighty-year-old Spanish peasant grandmother.
  • horseless
    horseless Posts: 22 Forumite
    I've waited 14 years for my own horse, have no other debts so thought it was an ideal time.
  • ChrissieI
    ChrissieI Posts: 161 Forumite
    I agree why be tempted by a loan. This is just the start of a life of debt. We all started with just one loan or one credit card
    Save up for it.
  • horseless
    horseless Posts: 22 Forumite
    Would it be better to take money out on a credit card or as a loan?
  • wigginsmum
    wigginsmum Posts: 4,150 Forumite
    If you're determined to get into debt over it, then look for the lowest APR, consider how long it'll take you to pay back (at the same time as affording to feed and look after the horse) and make sure you can afford the monthly repayments.
    The ability of skinny old ladies to carry huge loads is phenomenal. An ant can carry one hundred times its own weight, but there is no known limit to the lifting power of the average tiny eighty-year-old Spanish peasant grandmother.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ............and the feed, stabling, tackle, vets fees etc etc.
  • horseless
    horseless Posts: 22 Forumite
    I have thought long and hard about this, made out a budget and can now easily afford it. Was just asking for advice on the best way to get approximately £2500 - credit card or loan?
  • ChrissieI
    ChrissieI Posts: 161 Forumite
    If you can easily afford it why not save up for it?
    Please think long and hard before getting in to debt for a horse my sister has one they are not cheap to look after.
  • wigginsmum
    wigginsmum Posts: 4,150 Forumite
    Horseless - I hope you don't think we're being mean in pouring cold water on your loan plans. It's just that many of us would absolutely love to be debtfree, and recoil in horror at the thought of plunging straight back into it.
    The ability of skinny old ladies to carry huge loads is phenomenal. An ant can carry one hundred times its own weight, but there is no known limit to the lifting power of the average tiny eighty-year-old Spanish peasant grandmother.
  • horseless
    horseless Posts: 22 Forumite
    No, i understand. Its just i have wanted a horse for soo long and although i currently have one on loan, the owner has put it in foal so i will have to stop riding her soon. I don't want to spend money looking after a horse that i can't ride - it sounds heartless but i have taken a long time to get to this decision and am getting everything together before i buy my own.
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