# Horse Trailer Financing



## saco (Aug 19, 2013)

Getting a custom built Logan horse trailer and looking for recommended horse trailer financing. Talking to my banks it seems like I can get longer terms through horse trailer financing companies which my extent of knowledge is googling horse trailer loans. The dealer rep uses Certified Capital Inc. and Rock Solid Funding LLC.


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## horselovinguy (Oct 1, 2013)

Do you have living quarters?
If so then look into a second mortgage loan like they do on motor homes and some travel trailers.
Has to do with sleeping, cooking and bathroom facility available...

If none of those, a home equity loan, or personal line of credit loan may be lower rates...
Just make sure you only do fixed rate.
With a presidential election not to far off and the EU withdraw there is no way of knowing where interest rates will go....
Good luck and congratulations of your new trailer.
:runninghorse2:....


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## Chasin Ponies (Dec 25, 2013)

Also, look into your local Credit Unions. Our local banks generally won't even consider loaning money for a horse trailer, even a new one with a title. Also, in our state, trailers under 4000 lbs don't come with a title, just a certificate of origin and it's difficult for the bank to put a legal lien on them. Several told me that they are not familiar enough with the industry and there isn't a legitimate place to find average pricing/value once they are taken off the lot and officially become "used".


The Credit Unions on the other hand seem to welcome unusual loans like this. No fuss, no muss and much better rates than the banks offer!


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## tim62988 (Aug 30, 2012)

FIRST i am NOT in any finance/bank business so just my thoughts/opinions

are longer terms really in your best interest?

not sure how expensive the trailer will be in the end, but paying interest for an extra year two three or ??? could potentially add thousands to the price.

i'm a big fan of cash, and when that isn't an option then shortest term that I am comfortable with as they generally also have lower rates

i will also say I personally would NEVER take a second mortgage out on a pleasure item, is it worth risking the loss of your home for a horse trailer? may be fine, may work for you just not something I would tell a friend to try (nothing against you horselovinguy, just a difference of opinions but then again if I was going to get a custom trailer built that I needed financing, I had darn well all but be living in the thing to make it worth the price of admission but who knows that may be the wife & my retirement haha)


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## natisha (Jan 11, 2011)

If possible a home equity line is an easy way yo go. You can write off the interest & no one asks what the loan is for.


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## saco (Aug 19, 2013)

No living quarters. I am going with as low as monthly obligation as I can get since I work hourly and some months will have spikes of extra pay and still need to get a feel of how available overtime is. These spikes of pay will be put towards paying off the trailer early and expect it to be paid off in two to three years. Loan would be 17-20k depending on how much down payment I want to do.


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## horselovinguy (Oct 1, 2013)

_Tim...guess I was not clear._
_The mortgage is on the vehicle, not your home._
Motor homes qualify for a mortgage because of the living space...a second home
So, that here is _*not *_a option.

What concerns me saco is it sounds like you are potentially relying on your overtime money to make your payments.
What happens if the O/T is wiped out, no longer available, gone, ka-put?
I would not ever sign on a dotted line for something I could not pay and afford on my regular paycheck, never including O/T...
That is just me. 
The best laid plans of paying off early sometimes get disrupted with life events.

I would also put as much down as possible to have the least amount owed back with interest.
That = a lower monthly payment too....
Remember if it is financed, it is also insured with a dedicated policy to protect you and the lending institution "just in case"...
:runninghorse2:...


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## saco (Aug 19, 2013)

OT is not being relied upon, just extra cash to quickly pay off the loan quicker.


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