Compare horse loans and equine financing

If you can’t cover the full cost of a horse, here’s how a loan could help.

See your personalised rates

Find lenders that can approve you

Good and bad credit histories considered

Fast funding with no hidden costs

Compare personal loans to fund the purchase of your horse

Table: sorted by representative APR, promoted deals first
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Novuna Personal Loan
4.5
★★★★★
Check eligibility
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Representative example: Borrow £10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.
My Community Bank Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £5,000 over 48 months at a rate of 24.9% pa (fixed). Representative APR 27.9% and total payable £7,939.24 in monthly repayments of £165.40.
Fluro (formerly Lending Works) Personal Loan
4.0
★★★★★
Check eligibility
View details
Representative example: Assumed borrowing of £7,500.00 over 48 months at 17.9% APR representative. Monthly cost of £214.79. Total amount repayable of £10,309.78. Interest rate of 16.6% p.a.(fixed) and total fees of £150.00. Available for loan amounts between £5,000 - £25,000.
Lendwise
3.5
★★★★★
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thinkmoney Personal Loan
1.5
★★★★★
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Representative example: If you borrow £29,100 over 12 years, initially on a fixed rate for 5 years at 8.885% and for the remaining 7 years on the Lender's standard variable rate of 9.285%, you would make 60 monthly payments of £375.53 and 84 monthly payments of £380.29.
Tesco Bank Personal Loan
4.5
★★★★★
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Representative example: Borrow £10,000.00 over 3 years at a rate of 6.5% p.a. (fixed). Representative APR 6.5% and total payable £11,003.04 in monthly repayments of £305.64.
Zopa Personal Loan
4.0
★★★★★
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Representative example: Borrow £1,500.00 over 3 years at a rate of 22.9% p.a. (fixed). Representative APR 22.9% and total payable £2,028.60 in monthly repayments of £56.35.
Barclays Existing Current Account Loan
4.5
★★★★★
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Representative example: Borrow £10,000.00 over 3 years at a rate of 6.1% p.a. (fixed). Representative APR 6.1% and total payable £10,941.12 in monthly repayments of £303.92.
Lloyds Bank Existing Customer Personal Loan
4.0
★★★★★
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Representative example: Borrow £10,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £11,034.00 in monthly repayments of £306.50.
Plend personal loan
3.5
★★★★★
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Representative example: Borrow £8,000 over 48 months at a rate of 16.66% p.a. (fixed). Representative APR 17.99% and total payable £11,013.12 in monthly repayments of £229.44.
Tesco Bank Clubcard Personal Loan
4.5
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.1% p.a. (fixed). Representative APR 6.1% and total payable £10,941.12 in monthly repayments of £303.92.
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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.

Overview

Buying your first horse is exciting but can also be expensive. Not only could a horse set you back a good few thousand but there’s also new tack, equipment, stables and paddocks to consider as extras.

As you begin the journey of becoming a horse owner, one thing is clear: it’s a commitment for life which will need a constant flow of money. If you don’t have the funds to purchase a horse outright, what other financing options can you pursue?

Is taking out a personal loan to fund the purchase of your horse a good idea? We explore the world of equine financing to help you make a decision.

What are your financing options to pay for a horse?

You have several options to consider. Before finalising a loan, be sure to check the fine print of your loan agreement so you know the exact costs and repayment terms. Keep in mind some lenders may be hesitant to lend you money to buy a horse because its value depreciates over time — and the horse could get sick or become injured.

  • Personal loan. Unless the lender specifically sets restrictions, you can use a personal loan to buy your new horse. Some lenders even offer loans specifically for equine purchases.
  • Line of credit. With a traditional loan, you get a set amount of money and immediately begin paying the loan back, regardless of when you actually use the money. But a line of credit lets you borrow the amount you need when you need it. With most lines of credit, you make repayments only on the credit you’ve actually used. This is similar to a credit card, but line of credit interest rates are usually lower and come with higher credit limits.
  • Instalment contract. Some sellers accept monthly payments over a predetermined time. This may mean less money upfront, but be wary of entering into a contract without carefully reading the agreement.

How much does buying a horse cost?

Buying a horse means more than the purchase price. The real expense comes from the cost of care and maintenance.
Here’s a quick rundown of the potential costs and fees that come with owning a horse:

  • Purchase price. Most pleasure horses — horses ridden for leisure only, cost between £1,000 and £5,000. On the other hand, a show horse for show jumping, hunting or dressage, could set you back as much as £100,000.
  • Horse feed. A horse can consume up to 2.5% of its weight in a day. A healthy 450 kg horse requires fresh hay daily. The cost of feeding your horse can add up quickly at about £40 a bale.
  • Boarding costs. Unless you’re lucky enough to live on a property that can accommodate your horse, you’ll pay for room and board at a local stable. Depending on the area, boarding costs range between £400 to £600 a month, but can be as high as £1,000 a month in metropolitan areas.
  • Veterinarian fees. You want your four-legged pal to stay healthy and happy, which means veterinarian exams. Yearly vaccines, deworming and dental care can cost up to £400 a year. Costs for emergency veterinary calls vary depending on the visit.
  • Farrier work. Horses’ hooves grow at a rate of ¼ inch monthly. Since they spend so much time on their feet, it’s important to take care of their hooves. Farrier’s often charge £30 to £40 for a trim and £80 for a full set of shoes.
  • Tack and equipment. Unless you plan to ride your horse bareback, you’ll need tack and equipment, which includes a saddle, bridle, halter, fly mask, blanket, saddle pad, girth and grooming equipment. Saddle prices range from a few hundred to several thousand pounds.
  • Horse trailer. At some point, you’ll likely require transportation for you and your horse. A basic horse trailer could cost between £3,000 and £20,000, depending on the size. A horse trailer with additional living quarters can cost up to £75,000 or more.

4 questions to ask to choose the best horse for you

Funding the purchase of your four-legged friend is only half of the equation. First, you’ll need to find the right horse that fits your needs.

  1. Are you purchasing for pleasure or for show?

    Pleasure and show horses vary in cost. The average pleasure horse costs £1,000, while the average show horse costs £35,000. If you ride for leisure, a pleasure horse is your best bet. But if you’re interested in pursuing a career in jumping, hunting or dressage, consider investing in a horse that’s ready for show.

  2. Do you want a horse or a pony?

    Ponies look similar to horses but are quite different. Ponies are generally smaller and sport more stubborn temperaments than horses. If you have experience riding both, decide which you’re interested in owning.

  3. What breed are you interested in?

    Many pleasure horses are a mix of several breeds, while most show horses are purebred. Each breed of horse comes with its own unique set of personality traits and quirks. Research the horse breeds available in your area and decide which appeals to you.

  4. What sort of riding experience do you have?

    If you’re an experienced horseman or horsewoman, you may welcome the challenge of training a green horse or pony. Newbies should look for a horse that’s broken in, friendly, patient and good natured. Most sellers are happy to let you jump on the horse you’re interested in for a test ride, so don’t be afraid to ask.

Bottom line

Purchasing a horse for the first time can be exhilarating, but comes with far more costs than the purchase price of the horse alone. Prepare for veterinary bills, boarding fees and the cost of keeping your four-legged friend well fed and watered.

To pay for your new horse look at personal loans, a line of credit or strike a special deal with the owner.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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