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Do you ever let a horse leave w/out full pymt

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zoey829

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I have a few babies leaving and I know the hold up is the money. Should I offer a payment plan?? I dont want to carry the horses without a definate time line. I have a deposit but the balance is due. I know money is tight but a commitement is a commitement. Ahh so many issues!!!I think my kindness is what hurting me. Maybe I should charge board!!!!! My husband feels is they dont pay when WE have the horses what makes you think they will pay when THEY have the horses.
 

ruffian

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Do you have a contract? If not, you could be holding your horses for a while. At this point, you might want to suggest a definite time period that you are willing to keep the horse, but with a set payoff and departure date. After that date, the money paid is yours and you keep the horse.

To answer your question, no, the horse stays here until paid in full. Possession is 9/10ths of the law!!

Good luck!
 

JWC sr.

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We have sold horses for many years on payment plans and in fact have five out on them right now. We have only had one that we had to go get for non-payment. We have always found it best to know as much as you can about the people as far as phone numbers etc. and (knock on wood) have not had many problems.
 

Leeana

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Yes, of course and am very thankful to have been aloud myself to purchase horses on payments. All of my horses sale with a contract, i have let horses go with a deposit and a set time period to pay off the remaining ballance on the horse. No papers are hand or signed over until the horse is paid for in full.
 

Lucky-C-Acres-Minis

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Nope, guess I'm not that trustworthy of people.. We recently sold one on contract/payment plan but did not let him leave the farm, instead offered free board for a set time limit that was agreed upon, at the end of that time he was to be paid in full and picked up, if not then I started a board charge.. Needless to say I am SOOOO glad that I DID NOT let him leave the farm during that time
 

minimomNC

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I sell with a contract, I hold the papers and they must have insurance on the horse with me listed as the beneficiary with proof of insurance mailed to me. If anything happens to the horse then at least no one is out any money. If the insurance has to pay out then I get the money first and can pay back what has already been paid on the horse.
 

zoey829

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I dont mind payments. Because I would like to be giventhat chance. I just feel that at leat half should be paid. Iknow money is tight but I worry things will turn ugly. Iguess I would be protected with a contract.
 

bingo

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I have bought horses on payments some over 5000.00 and have always taken the horse home before being paid in full. I show proof of insurance naming seller loss payee.

As a seller I always let the horses go as well with a contract. I have only had one horse not be paid in full they missed the last payment of 100 bucks years ago and never did get the papers on the horse I still have them in my safe. I will not let that one horse be an issue and the reality is in this market as a seller if I will not let the horse go to a qualified buyer someone else will.
 

MyBarakah

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Well..... I have sold 2 by letting them go with a small down payment and the person makes monthly payements (6 months time) and I hang on to the papers until they are paid in full. It worked out very well that way.

I am also in the process (baby/weanling colt) is currently in route as I type but paid 1/2 down on the colt and the lady his holding on to his papers until the remainder is paid.

So I think it's ok to do that. I also have to get a REALLY good feel of the person before agreeing to that and some what of it would depend how far the horse would have to go and how much the horse was selling for..... I think all that depends....

But allot of us can't afford to do the deal but by making payments..... and it works this way!

All I know is that I'm excited to be getting a new little bundle of joy!! (Will be here Tuesday a.m.!!
)... Hopefully pictures will come soon after!!
 

Tony

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We sell many of our horses with people making payments. On our weanlings, we give free board for the first thirty days after weaning to allow time for them to make arrangements for shipping. After thirty days, we charge board.
 

Katiean

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I bought 2 mares on time contracts. One was paid in full before I got her. The other when she was 1/2 paid for before I picked her up with her papers being held until she was paid in full. I think the thinking is as a grade or with out papers she is worth 1/2 as much and it would cost more to hardship a horse than to just pay it off and be honest. I would think my reputation is worth more than that. When I was buying an arab on time and got into a bind I called the owner back to pick him up. It about killed me that stud was the love of my life. He wouldn't get into the trailer for the seller. I had load him. She could not belive how bonded he was to me. Some times you do get them back.
 

dannigirl

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Only once have I ever had a problem with payments. I now look closer at who I am working with. Actually, the first time I sold on payments and let the horse go to it's new home before being paid in full, they lost the mare within a week of getting her and had no insurance. They had already bought and paid for a colt, so I trusted them. The mare died and they sold the colt and moved away all within a week. We couldn't get them on the phone, so went to their home (they only live 30 min from here) and everything was gone. We later talked to another lady that sold them a colt and she got a call from them and she bought both colts from them when they said they had to leave in a hurry because of hubby's job. She said that they told her the filly had died--so who knows for sure.

Other than that, we have sold many on payments. We give a time limit before we start charging board when they stay here. We do let them go before payments are finished--under strict circumstances. Usually it is someone that has had minis or ponies for a while and are show people also. We usually tell people that we are picky and if we don't know you, we keep the horse here until the last check has cleared.
 

Genie

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We wouldl allow them to go with a "sizeable" down payment and then a payment plan.

We would have a contract and we hold the papers until payment is made in full.

We would pick up the horse if a payment is missed.

All payments made to date of the contract violation would be forfeited.

We have only done this once and the buyer left post dated cheques for the remaining payments.

I purchased once with making only a down payment, as the seller wanted 2 future foals from her stallion off of our mares.

We later decided against this option and sent full payment so there were no further ties to our stock.

We felt that the foals (2 picks) would be likely the very foals we would have wanted in our program.
 

ChrystalPaths

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Pert'near everyone of mine was sold on pymt plans and left before being paid in full. My contract is very simple and crystal clear..miss a payment without notifying me and I get the horse back. Never ever had any trouble. Communication was the key!
 

novachick

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When we were looking for our new minis, I never expected anyone to give me the option of payments, I just figured I need to stay in the price range of what I could afford upfront. When it was offered to me, I was floored. It allowed me to increase the quality of horse significantly and use my money I had set aside for deposit. I'm making payments over the next year and the horses arrive on Sunday! We have a very clear, but simple contract, I get papers when they are paid off, and if I miss a payment they can come claim them. I really respect and appreciate the ability to have this option, and would never think about messing it up.

Jen
 

Joanne

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We have bought on payments and sold horses on payments.

As others have said, that allowed me to fulfill my dream of owning a horse that I did not have the full amount of money at that time to buy.

I feel that offering the same gives back what others offered me.

Contracts are required. It is easy with the weanlings as they are not ready to leave yet anyway.
 

Miniv

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Yes. We've bought and sold with payments AND contracts. Have only repossessed twice in all these years.
 

FoRebel

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We've bought on a payment plan but have yet to sell on a payment plan. My Appendix gelding came home before he was paid for because the seller and I had a decent relationship and we made payments twice a month.

For us, if we ever sell on a payment plan we have decided that the horse does not leave our care until paid in full. It all depends on the cost of the horse and the buyer as to how long we will keep the horse on a payment plan before the balance is due. It's just our preference.
 

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