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 Member
Posts: 44
Location: racing across the desert me & my horse... | Cindy Hamilton - 2016-02-26 11:06 AM
JMO and I don't know what area you are in....but I kind of think if you were in Texas, you would be spending a LOT more than $15K to be competitive in HS rodeo....so, maybe in your area you could look for an older, been there, done that horse for less than $10K and pay cash....I don't think a bigger price necessarily means a better horse....I think it's very possible to get a good deal if you ask around and are willing to travel a little to try a few horses out. I personally don't think $15K is a huge amount for a competitive horse in my area and there are parents spending WAY more than that on a regular basis.Â
I always had to train my own and work from scratch, so I get that part from the other posters, but it's not like you are wanting a $30-$40K horse....now that would break the bank if things went south and you owed that kind of money....I say try to get the best you can a little cheaper than $15K and go for it, nobody is gonna go bust for that amount....and buy insurance on the horse. Good luck!  
Thank you, I think you get where I'm coming from and I too, thought $15,000 was very conservative amount due to me knowing exactly what I could be spending if I wanted to risk it. I am definitely willing to travel and especially to TX, OK areas due to the level of competition there and the caliber of horses available that may have some age or some minor maintenance issues. She has a younger mare she is working with that is very talented that we got for $1500, but the mare is not consistent enough to compete on at the level we are up against and she is "off" in the front end at the moment!
Keeping my options open! | |
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Member
Posts: 44
Location: racing across the desert me & my horse... | CrossDRanch - 2016-02-25 12:58 PM
If you can pay it off, take out a loan if you want. People do it all the time for their hobbies from boats to 4-wheelers. Most do it with LQ horse trailers when they could pay cash for a stock trailer. If you cant pay it off easily, then don't. Just go have fun and make all the memories you can make. I would sell everything I own.....hell, I would give it away if I could still take my son rodeoing.
Well said... | |
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Member
Posts: 44
Location: racing across the desert me & my horse... | hoofs_in_motion - 2016-02-26 6:14 AM
Have you considered maybe just leasing a horse? I'm sure someone would be more than happy to lease a horse, especially if the horse isn't being ridden.Â
I have...but have heard such horror stories and I'm not even sure how to go about asking the right people about doing that. I'm not up to asking friends about doing that because if things go haywire, I end up probably losing the horse and a valued friendship. | |
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Member
Posts: 44
Location: racing across the desert me & my horse... | SassyPirate - 2016-02-25 9:13 AM
I don't think banks will give you a "loan" for a horse but if you can get a Line Of Credit you can use it for whatever you want. I know lots of ladies that have done it that way.
Thanks, I will look into that. | |
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  Friendly horse swapper
Posts: 4122
 
Location: Buffalo, TX | I would look into a home equity loan and stretch it out over 10 yrs at a fixed rate...most are around 3% now...that means a $96 monthly payment on $15K (plus fees)...it should be a simple interest loan that allows you to make principle payments, so you'd have a really low payment for the months you only wanted to pay that amount, and you could add to it and knock the total interest right out of the water by paying it down as much as you can in the early part of the loan.... | |
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 Expert
Posts: 3782
 
Location: Gainesville, TX | Figure out how you want to finance the horse but she might get more done with a prospect that has tons of potential but isnt finished. Maybe find a trainer to help you find a horse in your budget range that would be a good fit. | |
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 Elite Veteran
Posts: 933
Location: north dakota | My daughter lucked out on the horse. I had bought a 3 year old OTT and had 5 months at a trainer when she was 5. She outgrew her horse and so I just turned mine over to her. I took her to a clinic a few months ago and the clinician had told a number of girls they were under mounted but fortunately she thought my horse would work. Unfortunately for my daughter there are only a limited number of barrel races and junior high rodeos offered in my area and they all fall on the weekend she's at her dads and he won't let her go.
For my younger daughters I'm breeding some user friendly crosses amd breeding to studs like Famous Bugs and FRenchmans Fabulous and the trainer I use is so easy to ride behind they will have to make due with those horses for junior his hand high school rodeo. My 12 year old daughter also has a 3 year old prospect.
If your daughter is a hand and you guys have someone you could work with a horse that has been patterned but not completely finished could be an option. She may not win right away in junior high but they could be ready for high school rodeo. | |
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 My Heart Be Happy
Posts: 9159
Location: Arkansas | ND3canAddict - 2016-02-26 12:39 PM
Chandler's Mom - 2016-02-25 9:09 PM ND3canAddict - 2016-02-25 11:41 AM I'm in the same situation as the OP. My daughter is running all 6 events at the JH rodeos. I'll only allow her to haul 2 horses. In our area, there are a lot of families with oil money (or old money), and a lots of CRAZY nice (expensive) horses at the JH level. And those girls can ride 'em. Ell is running barrels and poles on a mare that we raised. The stud lives 25 miles away and the dam is still on our place. She came into the finals last year sitting 10th in barrels and 8th in poles. She works hard and WANTS to win, badly. She's too young to appreciate that she's competitive on a home-raised horse. I see how hard she works and how well she rides and I want her to win, too. The truth of the matter is that I just can't afford to mount her that way right now. I'm saving money, because I do intend to find her a tougher horse for HS, but I won't take out a loan. I might sell some old cows or ranch horses, if I have to, but it will be a cash sale.Â
We love the JH and HS rodeos. The people are delightful, the kids love each other and there is so much to learn about sacrifice and discipline. She is a good athlete in all of her events, I don't think she'd want to go to JPs or Ammys, just because she loves each of the 6 girls' events. She's learning about money management (sometimes we just can't go, we don't use "grocery" money for rodeos). She saves her winnings and a percentage of her calf checks. Both my kids pay their own fees. I don't make them pay expenses, but we go over receipts for feed, farrier, vet, fuel, pickup and trailer costs, and they KNOW what it costs. I'm trying to raise them to be responsible with their desire to rodeo. We'll see how it pans out! HAHAHA Kudos to you  If only more parents would raise kids so responsibly, our society wouldn't be in the shape it's in today. . .
Have you ever thought of running for office?  | |
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Extreme Veteran
Posts: 509
| My daughter is grown now she showed i traded around till i had her a respectable horse she hit the bottom of the first division at big nbha shows and won a lot of the smaller there were always kids that had superstar horses but we rode what we could afford. I have always looked at parenting as raising an adult she learned how to work now to win and lose I'm glad i didn't break myself doing it . H.s. Rodeo was t something we did because you didn't win money, we did nbha drove a modest truck and trailer . Over the years I've seen people ruin there selves financially trying to keep up with others at the barrel races I've always used common sense sometimes i have a great horse sometimes i don't .make good decisions they follow you for many years horses get hurt, kids lose interest teach her to train she will use it the rest of her life | |
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 The Vaccinator
Posts: 3810
Location: Slipping down the slope of old age. Boo hoo. | ND3canAddict - 2016-02-25 11:41 AM
I'm in the same situation as the OP. My daughter is running all 6 events at the JH rodeos. I'll only allow her to haul 2 horses. In our area, there are a lot of families with oil money (or old money), and a lots of CRAZY nice (expensive) horses at the JH level. And those girls can ride 'em. Ell is running barrels and poles on a mare that we raised. The stud lives 25 miles away and the dam is still on our place. She came into the finals last year sitting 10th in barrels and 8th in poles. She works hard and WANTS to win, badly. She's too young to appreciate that she's competitive on a home-raised horse. I see how hard she works and how well she rides and I want her to win, too. The truth of the matter is that I just can't afford to mount her that way right now. I'm saving money, because I do intend to find her a tougher horse for HS, but I won't take out a loan. I might sell some old cows or ranch horses, if I have to, but it will be a cash sale.Â
We love the JH and HS rodeos. The people are delightful, the kids love each other and there is so much to learn about sacrifice and discipline. She is a good athlete in all of her events, I don't think she'd want to go to JPs or Ammys, just because she loves each of the 6 girls' events. She's learning about money management (sometimes we just can't go, we don't use "grocery" money for rodeos). She saves her winnings and a percentage of her calf checks. Both my kids pay their own fees. I don't make them pay expenses, but we go over receipts for feed, farrier, vet, fuel, pickup and trailer costs, and they KNOW what it costs. I'm trying to raise them to be responsible with their desire to rodeo. We'll see how it pans out! HAHAHAÂ
You are doing it right. Your children will take life lessons to their adult-hood that will help them be successful in life. Kudos to you!!! Winning at any price is a dangerous lesson to teach children. I applaud you for how you are raising your children!!
Edited by Delta Cowgirl 2016-02-27 12:49 PM
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Extreme Veteran
Posts: 461
| ND3canAddict - 2016-02-25 10:41 AM
I'm in the same situation as the OP. My daughter is running all 6 events at the JH rodeos. I'll only allow her to haul 2 horses. In our area, there are a lot of families with oil money (or old money), and a lots of CRAZY nice (expensive) horses at the JH level. And those girls can ride 'em. Ell is running barrels and poles on a mare that we raised. The stud lives 25 miles away and the dam is still on our place. She came into the finals last year sitting 10th in barrels and 8th in poles. She works hard and WANTS to win, badly. She's too young to appreciate that she's competitive on a home-raised horse. I see how hard she works and how well she rides and I want her to win, too. The truth of the matter is that I just can't afford to mount her that way right now. I'm saving money, because I do intend to find her a tougher horse for HS, but I won't take out a loan. I might sell some old cows or ranch horses, if I have to, but it will be a cash sale.Â
We love the JH and HS rodeos. The people are delightful, the kids love each other and there is so much to learn about sacrifice and discipline. She is a good athlete in all of her events, I don't think she'd want to go to JPs or Ammys, just because she loves each of the 6 girls' events. She's learning about money management (sometimes we just can't go, we don't use "grocery" money for rodeos). She saves her winnings and a percentage of her calf checks. Both my kids pay their own fees. I don't make them pay expenses, but we go over receipts for feed, farrier, vet, fuel, pickup and trailer costs, and they KNOW what it costs. I'm trying to raise them to be responsible with their desire to rodeo. We'll see how it pans out! HAHAHAÂ
Good job mom!
Edited by Roo 2016-02-28 8:49 AM
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 Expert
Posts: 1355
| Murphy - 2016-02-25 12:24 PM I'll admit that I was once young, and wanted a nicer horse. I took out a loan. I've since paid the loan off and sold the horse and I'll NEVER take another loan out on a horse again. It was a personal loan though, with collateral down. The interest rate was very high.
Same here! I still have the horse and love her to death but I would NEVER take a loan out again! | |
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 Cute Little Imp
Posts: 2747
Location: N Texas | BarrelAddict - 2016-02-25 2:05 PM I have no intentions of refinancing anything to purchase a horse or go into debt to get one. My max is $15,000 and even that is pushing it. She does have 21 year old mare she is running and she pulls 22 in poles on a good day, but the girls are pulling mid 21s to 20s. Her 6 yr old mare is talented and faster, but is not consistent enough to run against the current competition, plus she is "off" in the front end at the moment. I have collateral (own two horse trailers, savings acct, 401) and have very little debt other then my house payment and truck and other regular bills (utilities, cell phone, cable etc) and my credit is good). I didn't want to cash out savings or a 401 to buy a horse so I was looking at other options. I am with Wells Fargo, but would it be a better idea to go to different banks or a credit union for better interest rates? I thought there might be programs or lenders out there that actually specialized in loans for horses and had an understanding about how it might work?
If you're considering getting a loan for a horse, you will be putting yourself into debt to get one. You're "in debt" when you owe someone money for something. | |
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Cute Little Imp
Posts: 2747
Location: N Texas | I didn't do HS rodeo, but I did show a heifer my senior year. My dad didn't have much money, so I had to pick out a heifer that he could afford. I got a nice little $1500 calf, which in all honesty was probably more than he could really afford, but he wanted me to be able to have at least a chance. Going into it, I knew I wasn't going to have the best calf at the shows, because there were so many other kids who had these super expensive calves, and I knew I'd never be able to beat them. I did actually win my class at several shows, but never grand champion, or anything big. I put a lot of work into her, and had a lot of fun at the shows, even if I didn't place. It was about the experience, and I really enjoyed my time on the show team.
Before buying my heifer, I was always told that buying a calf was the cheap part. Where you really start to spend money is entry fees, fuel, hotels, vet bills, maintenance, feed, etc.
So my point is, don't put a lot of financial strain on your family just to try to outdo people with more money. Get her a horse she can have fun on, even if she's not always at the top. | |
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 Ms. Elvis
Posts: 9606
Location: Running barrels or watching nascar | I didn't do HS rodeo. My mother thought it was better for me to go to the NBHA's. I wasn't on a competitive horse but I did rack up at the 'D's'. However, I was the outcast of the horse kids during the school week. I did take ag classes. I hung out more with the music kids anyway. | |
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Elite Veteran
Posts: 926
| kakbarrelracer - 2016-02-25 7:15 PM
1DSoon - 2016-02-25 11:00 AM
Anyone that wouldn't borrow money to buy a horse for their kid, must not love their kid very much.
Â
 Maybe Bernie Sanders will give us all a 1D horse. Yeah! LOL
I think I heard that in a campaign speech last week, free college, peace, love....and a 1D barrel horse for all who deserve it~! | |
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