Payment Plan Question
I am looking into getting a horse, and I am trying to figure out what is standard when using a payment plan for a horse. The last horses I had, I paid in full, so this wasn't an issue at all. The horse I'm interested in is more expensive than my other ones were, and it's freaking out my husband a little bit!
When I think of a payment plan, I think of something similar to a car payment, where the cost is split up over a certain amount of months.
$6,000 horse: 6 months of $1,000 payments.
The owner of the horse I am interested in offered this as a payment plan:
50% paid up front, and the rest within 30 days. Using the same $6,000 example, that's $3,000 up front, and $3,000 30 days later.
To me, that doesn't really sound like a payment plan, and I might as well just pay the $6,000 up front. I would think that most people's finances don't change so much over the course of 30 days that they would be able to take two hits of $3,000, but yet they weren't able to just pay the $6,000 up front.
I would like to hear anyone's thoughts on this. If this is actually the standard when buying a horse on a payment plan, that would be good to know too...got to convince the husband somehow!