Horse Trailer Financing - The Horse Forum

 
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post #1 of 8 Old 10-30-2010, 09:05 AM Thread Starter
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Horse Trailer Financing

I was wondering if several people could answer me on these questions in regards to horse trailer payments. I am just starting to look for a new/used trailer.

1. How much is your monthly payment and how much did you finance? Was the trailer new or used?
2. What was the interest rate? Anyone know what the current interest rate (ballpark) is for horse trailers?
3. How many years did you finance it for?
4. How much did you have to put down?

You can PM me or email carverbrittanys@yahoo.com.

Thanks!

Cheryl
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post #2 of 8 Old 10-30-2010, 01:51 PM
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Quote:
Originally Posted by Rosebud64 View Post
I was wondering if several people could answer me on these questions in regards to horse trailer payments. I am just starting to look for a new/used trailer.

1. How much is your monthly payment and how much did you finance? Was the trailer new or used?
2. What was the interest rate? Anyone know what the current interest rate (ballpark) is for horse trailers?
3. How many years did you finance it for?
4. How much did you have to put down?

You can PM me or email carverbrittanys@yahoo.com.

Thanks!
All of these answers will be different depending on your credit. I borrowed 25K with no money down on a used trailer. I think my rate is around 7%. I rolled a tractor loan into it so actually borrowed more so payment isn't reletive but I pretty much could set the loan up however long I wanted to keep the payment where I wanted.
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post #3 of 8 Old 10-30-2010, 05:34 PM
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yeah, I agree, it'll be different for everyone. I paid ~half down (just because I had the money in my savings for it) and set up a loan with my own credit union for the rest (just to build up my credit.) I had a few different options for how many years in which to pay it off. I chose to set up the payment so that I would have it paid off in the least amount of time possible. Which, of course, made the monthly payments a little higher.
(New trailer)
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post #4 of 8 Old 10-30-2010, 11:13 PM
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All depends on your credit history and score and your lending bank as to what the rates and payments are. Usually the newer the trailer the longer you can take to pay it back... Some trailer places also do their own financing, but usually the rates are higher with them than a credit union or bank.
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post #5 of 8 Old 10-31-2010, 09:08 AM Thread Starter
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I know it all depends. But, I was just trying to get some general answers to see where people were at.

Cheryl
Carver Brittanys
www.carverbrittanys.com
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post #6 of 8 Old 10-31-2010, 09:31 AM
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Quote:
Originally Posted by Rosebud64 View Post
I know it all depends. But, I was just trying to get some general answers to see where people were at.
Yopu can do loan calculaters on line and put in what amounts you want to borrow and change the terms and rates to get an idea. We have no idea if you want a 2000.00 dollar traioer or a 50,000 and what you have to put down
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post #7 of 8 Old 10-31-2010, 09:36 AM
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Here are the current rates from our credit union.

Other Secured
(motorcycle, horse trailer, towing vehicles, tractor)

New - 6.75% - 5 years
Used - 9.25% - 5 years

On the sixth day, God created the Quarter Horse.
On the seventh day, he Painted the good ones.

Last edited by PaintHorseMares; 10-31-2010 at 09:38 AM.
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post #8 of 8 Old 10-31-2010, 09:41 AM
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1. How much is your monthly payment and how much did you finance? Was the trailer new or used?

I financed $4500 for a used 2003 Titan Avalanche II. My payments are less than $150.

2. What was the interest rate? Anyone know what the current interest rate (ballpark) is for horse trailers?

7% but the rate is based on your credit

3. How many years did you finance it for?

3 years

4. How much did you have to put down?

Nothing.

It all really depends on your bank. I had received rates/payments MUCH higher from several banks. I went to the credit union where I have my car financed and they issued the loan on the spot for FAR less interest and payments than anyone else would.

Good luck!




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