1. A vehicle for the future
Ensuring you’re buying the right vehicle is a pretty obvious first step, but that’s especially the case when you’re arranging finance for a horse box or horse trailer.
You don’t want to agree a loan for, for example, five years only to find that by year two you need something bigger.
So arrange your horsebox loan based on where you think you’ll be at the end of the loan period, not at the start. If you have one small pony now and you’re planning on keeping it that way, then agreeing finance for a horse trailer should suit you perfectly.
If, on the other hand, there’s a chance you’ll be needing to transport more (or larger) horses, then you’d best start looking at horse box loans now.
Weight is a crucial factor in choosing the right horsebox. The standard options are the 3.5T and 7.5T, although within those categories there’s a huge variance in cost depending on age, mileage, features etc.
3.5T and 7.5T describes combined weight (that is, the weight of the vehicle, the horse(s), you, other passengers etc) and it’s important to know what the weight will be prior to agreeing loans for horseboxes. Here’s why:
- You may not feel comfortable driving a larger vehicle
- You’ll need category C1 on your driving licence to drive a 7.5T horsebox
- Any loan for a horsebox will (usually) need to be greater for larger vehicles
3. Horsebox finance and bad debt
In general terms, if you’re trying to arrange finance for a horsebox with a bad credit record behind you, you’re likely to find it more difficult to access the best interest rates and higher loan values.
But don’t give up hope. It is possible to get finance for horse trailers with a bad debt history. And it is possible to get horsebox loans with a bad credit history. In fact, our lenders agree to 90% of the applications for horsebox loans that come our way. So even if your credit history is poor, there’s every chance we’ll be able to find something for you.
4. How does your credit score affect horse box finance?
Even if you you’re not searching for horse trailer finance with a bad debt history, taking the opportunity to improve your credit record ahead of any application for horse box/horse trailer financing is a step well worth taking.
Improving your credit score is rarely an instant thing – so try and plan ahead, and take steps in the few months leading up to your application for your loan for a horsebox to nudge your score up a few points.
You can do that by:
- Paying off more of your credit card debt so balances are low
- Avoiding applying for any credit ‘just in case’
- Avoiding increasing credit limits on existing cards/loans
- Maintaining existing loan payments and ensuring they’re on time
Even if you’re applying for a horsebox loan with a bad debt history, doing what you can to nudge your credit rating up a few points may help you secure the loan, secure a bigger loan, or get a horse box loan at a better interest rate.
5. Choose the horse box finance specialist
Horse trailer financing isn’t the most common form of personal loan, so finding the best deal can be more challenging. At Auto Finance Online, we’re experts in horse trailer financing.
What’s more, when you’re trying to find horse box loans with a bad credit score, we’ve got a real track record of success.
Start your journey here. Call us now on 01625 460454.