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Itchy Boobs
Posts: 360
 
| Does anyone know anyone who would finance a barrel horse ? |
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  Neat Freak
Posts: 11216
 
Location: Wonderful Wyoming | just as a personal loan and I would have all the insurance on them they would allow. But my advice if you want to finance a horse...is to not to. |
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Extreme Veteran
Posts: 509
| I have went to my local bank |
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 That's White "Man" to You
Posts: 5515
| Go to your local community bank and speak with the banker that you say hi to each time you go inside. He is going to give you a loan because of the relationship you have built over time. He trusts you because you have always been mostly responsible and he knows you. He will make the loan because you were smart and already saved for a down payment (it's sitting in your savings account at this bank). You have already discussed insuring the horse with your insurance agent and are able to provide a quote (which you have cash to pay in addition to your down payment) and the coverage details. He will also feel comfortable giving you the loan because you offered to keep the term as short as you can because you have been saving $500 each month and would now like to just put that into a payment. He also thinks you are on top of things because you were smart enough to pull a loan application off the website and completed it correctly and took it to him with verification of your income.
Good luck and if you don't know what I'm talking about from the first sentence, you are probably out of luck.
Edited by Whiteboy 2016-09-12 10:36 PM
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Tried and True
Posts: 21185
Location: Where I am happiest | If you have excellant credit you can go to your local bank or credit union and get a personal loan. Or personal line of credit. They dont care what you use the money for. Interest rates at credit unions are usually alot better then a regular bank. |
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 Expert
Posts: 1718
Location: Southeast Louisiana | Whiteboy - 2016-09-12 8:40 PM
Go to your local community bank and speak with the banker that you say hi to each time you go inside. He is going to give you a loan because of the relationship you have built over time. He trusts you because you have always been mostly responsible and he knows you. He will make the loan because you were smart and already saved for a down payment (it's sitting in your savings account at this bank). You have already discussed insuring the horse with your insurance agent and are able to provide a quote (which you have cash to pay in addition to your down payment) and the coverage details. He will also feel comfortable giving you the loan because you offered keep the term as short as you can becuase you have been saving $500 each month and would now like to just put that into a payment. He also thinks you are on top of things because you were smart enough to pull a loan application off the website and completed it correctly and took it to him with verification of you income.
Good luck and if you don't know what I'm talking about from the first sentance, you are probably out of luck.
That right there is some solid financial advice. I remember the old days of dealing with our bank like that. I wish we had a local community bank. :( Even the credit union (where I've been a member for twenty five years) acts like every other bank or loan company nowadays. I can't find anywhere near me where they will keep a mortgage in-house. They all tell me it'll be sold as soon as we wrap up the closing. |
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 ...Dot Dot Dot...
Posts: 2064
Location: SW New Mexico | Nita - 2016-09-13 7:58 PM
Whiteboy - 2016-09-12 8:40 PM
Go to your local community bank and speak with the banker that you say hi to each time you go inside. He is going to give you a loan because of the relationship you have built over time. He trusts you because you have always been mostly responsible and he knows you. He will make the loan because you were smart and already saved for a down payment (it's sitting in your savings account at this bank). You have already discussed insuring the horse with your insurance agent and are able to provide a quote (which you have cash to pay in addition to your down payment) and the coverage details. He will also feel comfortable giving you the loan because you offered keep the term as short as you can becuase you have been saving $500 each month and would now like to just put that into a payment. He also thinks you are on top of things because you were smart enough to pull a loan application off the website and completed it correctly and took it to him with verification of you income.
Good luck and if you don't know what I'm talking about from the first sentance, you are probably out of luck.
That right there is some solid financial advice. I remember the old days of dealing with our bank like that. I wish we had a local community bank. : ( Even the credit union (where I've been a member for twenty five years ) acts like every other bank or loan company nowadays. I can't find anywhere near me where they will keep a mortgage in-house. They all tell me it'll be sold as soon as we wrap up the closing.
YUP!
I have worked as a server for many years, here and knew the president and vice president of our then local bank.
I walked in and said I need $3.000 for a barrel horse prospect.
They smiled, and said sign here... :)
I bought the horse...Wranglers Shirtail...a sorrel roan gelding that took me to the NMRA Finals in 1999, Turquoise Circuit Finals in 2000, Reno Nevada , am West finals 3 X, and the GCPRA Finals in 2001..
I had him paid off way before the note was due.
So Yes, It can happen!
Edited by jettster 2016-09-12 10:02 PM
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 Owner of a ratting catting machine
Posts: 2258
| Whiteboy - 2016-09-12 8:40 PM
Go to your local community bank and speak with the banker that you say hi to each time you go inside. He is going to give you a loan because of the relationship you have built over time. He trusts you because you have always been mostly responsible and he knows you. He will make the loan because you were smart and already saved for a down payment (it's sitting in your savings account at this bank). You have already discussed insuring the horse with your insurance agent and are able to provide a quote (which you have cash to pay in addition to your down payment) and the coverage details. He will also feel comfortable giving you the loan because you offered keep the term as short as you can becuase you have been saving $500 each month and would now like to just put that into a payment. He also thinks you are on top of things because you were smart enough to pull a loan application off the website and completed it correctly and took it to him with verification of you income.
Good luck and if you don't know what I'm talking about from the first sentance, you are probably out of luck.
Best life and financial advice I've ever seen on here, all rolled into one! |
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Extreme Veteran
Posts: 399
| I have done this many times as a short term loan. I have developed a great relationship with my credit union and right now I am able to call her up and say " Hey I found a horse I like" she will tell me to write the check and just let her know the amount and she will do up the paperwork. But this started out as very small loans that I have worked up from the bottom. I think I started out with a loan of $500 and would pay it nearly off and then buy another one train it up and sell it off. Now when I found my colt I really liked and knew I did not have the funds right away it took a phone call and it was in my checking account within the day. Now granted we haven't done anything super crazy in regards to our budget but I am able to expand my budget some by knowing i have this option. |
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Neat Freak
Posts: 11216
Location: Wonderful Wyoming | Whiteboy - 2016-09-12 7:40 PM Go to your local community bank and speak with the banker that you say hi to each time you go inside. He is going to give you a loan because of the relationship you have built over time. He trusts you because you have always been mostly responsible and he knows you. He will make the loan because you were smart and already saved for a down payment (it's sitting in your savings account at this bank). You have already discussed insuring the horse with your insurance agent and are able to provide a quote (which you have cash to pay in addition to your down payment) and the coverage details. He will also feel comfortable giving you the loan because you offered to keep the term as short as you can because you have been saving $500 each month and would now like to just put that into a payment. He also thinks you are on top of things because you were smart enough to pull a loan application off the website and completed it correctly and took it to him with verification of your income.
Good luck and if you don't know what I'm talking about from the first sentence, you are probably out of luck.
Wonderful info and so true. I have a credit union. Our first stallion was bought with a personal loan when my husband and I were 23 and didn't have a dime to our name. We had paid off our small truck loan on time and had a handful of cattle to back us. But I guarantee you that all the previous sentences from Whiteboy are why we got that loan. |
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 Expert
Posts: 3815
Location: The best kept secret in TX | Whiteboy - 2016-09-12 8:40 PM Go to your local community bank and speak with the banker that you say hi to each time you go inside. He is going to give you a loan because of the relationship you have built over time. He trusts you because you have always been mostly responsible and he knows you. He will make the loan because you were smart and already saved for a down payment (it's sitting in your savings account at this bank). You have already discussed insuring the horse with your insurance agent and are able to provide a quote (which you have cash to pay in addition to your down payment) and the coverage details. He will also feel comfortable giving you the loan because you offered to keep the term as short as you can because you have been saving $500 each month and would now like to just put that into a payment. He also thinks you are on top of things because you were smart enough to pull a loan application off the website and completed it correctly and took it to him with verification of your income.
Good luck and if you don't know what I'm talking about from the first sentence, you are probably out of luck.
Look at you Whiteboy! You should really charge for that kind of advice LOL  |
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 Elite Veteran
Posts: 889
| Whiteboy - 2016-09-12 8:40 PM
Go to your local community bank and speak with the banker that you say hi to each time you go inside. He is going to give you a loan because of the relationship you have built over time. He trusts you because you have always been mostly responsible and he knows you. He will make the loan because you were smart and already saved for a down payment (it's sitting in your savings account at this bank). You have already discussed insuring the horse with your insurance agent and are able to provide a quote (which you have cash to pay in addition to your down payment) and the coverage details. He will also feel comfortable giving you the loan because you offered to keep the term as short as you can because you have been saving $500 each month and would now like to just put that into a payment. He also thinks you are on top of things because you were smart enough to pull a loan application off the website and completed it correctly and took it to him with verification of your income.
Good luck and if you don't know what I'm talking about from the first sentence, you are probably out of luck.
As an ex-loan officer. This. ALL. OF. THIS. You cannot believe the difference it makes when you are prepared and educated about what you are doing. |
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 A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | I wonder if the OP got her loan?  |
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 Elite Veteran
Posts: 889
Location: on the fine line between insanity and geniusness | As the daughter of a loan officer and someone who took out a substantial horse loan at a relatively young age (23), I can tell you Whiteboy is right on the money. Have a plan, have your ducks in a row and come prepared! |
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 I Prefer to Live in Fantasy Land
Posts: 64864
Location: In the Hills of Texas | I've done it numerous times. When I was younger I sucked at saving but had no problems making a loan payment.
It did suck when I bought a mare and at my third rodeo she slipped and it basically ended her career for me.
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Expert
Posts: 3815
Location: The best kept secret in TX | Nevertooold - 2016-09-14 2:19 PM I've done it numerous times. When I was younger I sucked at saving but had no problems making a loan payment.
It did suck when I bought a mare and at my third rodeo she slipped and it basically ended her career for me.
This is why if I ever finance something that is living and breathing and that lives and breathes to hurt themselves I'm insuring the crap out of it. LOL
This would be my luck! |
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