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debsnboz
Bronze Member
202 Posts |
 Posted - 12 Jan 2011 : 10:02:42 PM
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Hi a bit of advice. I am looking at a lovely pony for my daughter who has had bad luck with naughty loan ponies in the past. He is a fab SHP who has had success at all the big shows (HOYS, RIHS), but who is now 18 and looking for fun and local shows that we can offer him.
I suggested loan or loan WVTB to make sure he is the right pony for her. The owner then said she was thinking of loaning him for £365 a year - pound a day. Is this not a lease? WHat is the difference from my point of view. I am sure when i had a pony on loan as a teenager when i went to insure it i had to enclose a letter fom the owner saying he was not paid for the loan.
Any ideas?
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Quarabian
Platinum Member
Wales
4340 Posts |
Posted - 12 Jan 2011 : 10:56:44 PM
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| Quite right debsnboz that is a lease. Surely loan with a view to buy should be free as long as a contract is drawn up so that both parties know what to expect. |
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Callisto
Platinum Member
6905 Posts |
Posted - 12 Jan 2011 : 11:00:15 PM
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My sister has her boy on loan found through Arabian Lines, the loan agreement is the one drawn up through the British Horse Society, we cover his insurance, but there is no monetary payment from us to his owner. It does sound like a lease to me, have never had any experience of such an arrangement personally (have loaned horses in and loaned out).
I can only suggest that you need to look at the terms of the agreement that she wishes you to sign before you agree to the loan - if you are not happy then don't sign it, if you are then I wish you all the best with your pony and that your daughter has a fabulous time with him. |
  Zahkira (GR Amaretto x Taffetta)
Linda
East Sussex |
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leiat8
Gold Member
590 Posts |
Posted - 12 Jan 2011 : 11:23:32 PM
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definitely a lease, if you loan a friend a DVD or book you wouldn't charge for it.lol. hope you figure something out together he sounds lovely  |
     
Casper, Hannah, Hector, Bracken, Fargo |
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sub
Platinum Member
United Kingdom
1919 Posts |
Posted - 13 Jan 2011 : 12:06:22 PM
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Lease - when a nominal fee is charged for the use of the horse/pony over an agreed period of time.
Loan - free use of horse/pony over an agreed period of time.
I would assume the owner is leasing with view to but - that way, if you don't buy the pony, they have made a bit of money in the process!
Is the £365 deducted if you do buy the pony after a year? |
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Loan/Lease?
