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Holly
Gold Member
England
529 Posts |
 Posted - 25 May 2009 : 7:56:42 PM
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Hello
Basically Im asking you guys wether i should buy a horse trailer or not?
Me and my boyfriend are in the middle of buying a house, should be exchanging contracts any day now so i will have a mortgage and bills etc.
I currently have 2 arabs and have just brought another filly (only paid £500 of £1000 so far). I have managed to reduce my horses costs down to £230 per month to include everything except vets bills including the filly.
I have about £4000 in debt on my credit card which i have got on a 0% interest for 12 months and i pay off about £100 per month. I also have £3700 in student debt which I haven't started paying back yet.
Basically i went to a show today and my mum noticed that there was a trailer for sale. She has inherited some money recently and asked me if id like her to give me £1000 to buy the trailer using her inherited money and because its my birthday tomorrow. I was a bit shocked really. The trailer was really nice we had a good look at it and it was really light and appeared to be in good condition. They are asking £1200 and wont take any offers.
The man is giving me 3 days to decide and then he is going to put it on ebay.
I don't know what to do?????
I could use the £1000 to reduce my debt or i could get a trailer which i have always wanted??? what should i do? I suppose i could pick a trailer up for less than that and then do it up in the future. If im being honest with myself I can';t afford it and with having the house etc i should probably wait.
dont you just wish that you could have it all
xx
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Kharidian
Platinum Member
England
4297 Posts |
Posted - 25 May 2009 : 8:16:57 PM
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Well.....personally I wouldn't buy a cheap trailer or one that I had to "do up". If it's that cheap it is probably quite old and probably hasn't got an aluminium floor. What make is it? How often has it been serviced? Are you planning to get someone to give it a good once-over before contemplating parting with any cash?
Sorry, but I wouldn't risk it. I'd pay off my debts first, and save up for a decent trailer. Do you have a towing vehicle already or would that be another expense? Have you had your driving licence long enough that you don't need a separate trailer licence or will you have to pass a towing test?
Oh god, I'm a little ray of sunshine, aren't I!
Caryn |
Kharidian (Prince Sadik x Khiri)........ Alkara Cassino (H Tobago x Rose Aboud)
aka "Roger".................................... aka "Chips"
     
The first image is from an original painting by Pat Shorto.
South-East Essex |
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mogwai
Platinum Member
England
2717 Posts |
Posted - 25 May 2009 : 8:24:08 PM
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Sadly, another storm cloud here. I wouldn't buy it either. Wait a while, you sound as though you have enough to think about. Enjoy your girls at home for a bit, and buy a good second hand trailer from someone you trust at a later date.
Ros x |
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pintoarabian
Gold Member
Scotland
1242 Posts |
Posted - 25 May 2009 : 8:35:09 PM
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| I'm afraid that I am not going to advise you to throw caution to the winds either and buy that trailer. You say that you are already in quite a bit of debt and have three horses. Your budgeting doesn't allow for vet bills so what are you going to do if you suddenly get an unexpected large vet bill? A year ago we had one for £4000 for colic surgery. That was tough to pay and I don't have any debt. What happens to the welfare of the horses you have if you get in too deep? You can have lots of fun with your horses without the need to take them anywhere. Taking on a trailer is just another thing to maintain and insure. Enjoy what you have now, reduce your debt and wait till you can afford one. Sorry if this is not what you want to hear but I think my words are wise ones. |
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kathleen
Platinum Member
England
1835 Posts |
Posted - 25 May 2009 : 8:43:50 PM
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Debt 1st
you can look for a box at a later date and buy the time you have someone to check it over, service it and pay the insurance it soon adds up so lose the debt and then later the money you where paying off the debt save and you should be able to get a newer one it would be a shame if you had to sell it to pay a unexpected vet bill |
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Annette
Platinum Member
England
1551 Posts |
Posted - 25 May 2009 : 8:47:08 PM
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Another no from me I'm afraid. I would get your credit card debt paid off 1st and your student loan or else you will find your debts following you around for years to come. You can always hire a trailer for the day in the meantime which will cost you around £30-£40 a day. Not what you wanted to hear.....Sorry |
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pat ww
Platinum Member
United Kingdom
3459 Posts |
Posted - 25 May 2009 : 9:22:14 PM
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Ditto, even if you are already driving a suitable towing vehicle, you could end up keeping it 'because of the trailer' when you really should down size to something more economical.
trailers mean expense, if you've got one you'll do more shows / rides etc, so entry fees / fuel costs will increase.
What happens when mortgage rates go back up, if you've got rid of some debt you will have some spare cash to take up the increase.
Live with less stress, don't do it. Unless you are paying far more to do these things already by getting transport and you will save money in the long run, but at #1200 it needs a thorough checking out.
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marionpack
Gold Member
England
1073 Posts |
Posted - 26 May 2009 : 1:47:53 PM
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It sounds like you you weren't looking for a trailer but saw this one for sale and it sounded like a good idea without thinking it through
Sorry but I am afraid I agree with all the above, get rid of your debt, if you need a trailer and have a towing vehicle, hire one for the day, |
Berkshire
   
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precious
Platinum Member
England
2253 Posts |
Posted - 26 May 2009 : 2:03:26 PM
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Hi
I know how u feel, i had some redundancy money and i had always wanted a equisage machine so I spent it on a 2nd hand one instead of putting it towards Rebels vet bills. Since I have had to sell the equisage to cover huge treatment costs and to secure his DIY livery bill for the next 12months which i should have done in the 1st place the horses future was a lot more important. Don’t put yourself in a position to if the worst happens having to sell a horse to cover bills/mortgage costs.
Plus i put 50-70 diesel in my car A WEEK without towing to shows 4x4 cars cost a lot to run!!
Ease the pressure pay some bills
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Gemma Thompson
Birmingham West Midlands
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Maramoo
Silver Member
England
447 Posts |
Posted - 26 May 2009 : 2:32:34 PM
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Ok I am going to "buck the trend" here! Being savvy with money, doesn't necessarily mean that you have to be debt-free or pay off all your debts. If you have a loan on 0% interest at the moment I would not be in a rush to pay it off at this stage. It sounds as though you are quite careful with your money, and believe me your student-loan is not that big, in relation to some.
If your Mum has suggested you use the inheritance money for a Birthday treat, then that is probably the spirit in which it was left to you. I do however think that the points made about the trailer being safe and reliable are valid and I would check it out carefully before proceeding. Be careful to ensure that you are capable of paying-off any debt you have without incurring extra charges, but with a lump sum like £1000 - I would say go and enjoy it-life is too short |
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Edited by - Maramoo on 26 May 2009 2:43:18 PM |
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angelarab
Platinum Member
Wales
2876 Posts |
Posted - 26 May 2009 : 3:34:47 PM
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Hi and Happy Birthday
This is how i think.
How many times do i use a trailer, this year 5max i pay £30 a day for hire = £150.00
Next year he comes out ridden fingers crossed so might do the same amount of shows and maybe a pleasure ride so lets say 8times £240
So in reality for me although i really really want a lovely shiny new Ifor williams, i am saving my money as i have no servicing costs or insurance.
If i were in your shoes, i would spend a chunk on paying back a bit of the cc/loan put some in high intrest savings for trailer hire, etc and spend a chunk on treating your self to a lovely something.
Hope you find whats best for you |
 "Until one has loved an animal, part of their soul remains unawakened."
www.northwalesarab.co.uk |
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Cage Alma Arabians
Bronze Member
England
226 Posts |
Posted - 03 Jun 2009 : 8:06:39 PM
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Holly,
I read your post twice. it seems this trailer's quality isn't in question- you thought perhaps you could at a later date pick up a different, cheaper one that would need work??
If this money is a birthday gift and you fully intend to buy a trailer at some point anyway, then go for it, especially if this trailer is safe and sound.
But, do think about the towing issue- will you need to take a towing test, extra insurance etc. I run a shogun, not for the horses where we use a lorry, but because we live where we get a lot of snow and it easily eats £80 a week in diesel just doing the school run- though school is 18 miles each way!!
Also, your debts- would £1000 make a huge dent in them? If paying a lump sum off one of them would make a big difference to your monthly costs then use it for that instead.
And consider your filly- you need another £500 for her- why not get her paid off and have her legally all yours straight away?
So many things to consider. I would make a list and right down the pros and cons of each situation before I made any decision.
But good luck, whatever you decide to do!! |
     
www.cage-alma-arabians.com
Derbyshire. |
Edited by - Cage Alma Arabians on 03 Jun 2009 8:08:06 PM |
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