Buying a horse does not have to be an overly stressful event, nor do you have to empty your life savings for the perfect equine companion. The problem is that most people buy horses for the wrong reasons.
- "He's the prettiest horse I've ever seen."
- "He's young and I'm inexperienced; we can learn together."
- "My best friend recommended him."
- "My trainer thinks he's perfect."
- "We'll come together...eventually."
Rather than jumping at the first horse who catches your eye, you should have a list of essential qualities before you start the horse shopping process. Additionally, you should set a limit of how much you are willing to spend, then refuse to go above that limit. Otherwise, you'll part with your life savings.
Avoid Commission Partnerships
If you are new to the horse buying process, or if you are not sure how to find the ideal horse, you might have solicited the assistance of your trainer or a horse broker. This is a good idea; a trainer can help you seek out horses that are compatible with your riding level and abilities.
However, if you are paying your horse shopping partner on a commission basis, you will probably wind up spending more than you intended. For example, if the trainer gets 10 percent of the horse's cost, it is in his best interests to find you the most expensive horse. When the animal costs more, his commission goes up.
You'll save money on horses by paying a trainer or broker a set fee rather than a commission. This way, he will be focused on your interests rather than his own.
Learn to Negotiate
Horse owners never set their asking prices on the low end because they expect to negotiate. If they price low, then they know they will get much less than what they want for the horse. Therefore, if you want to save money on horses, you'll need to learn how to negotiate price.
The best way to do this is to simply submit a counter offer. Either by yourself or with the assistance of a trainer, decide how much you are willing to pay for the animal, then drop about 5 percent from that offer. This way, if the owner counters again, you'll have some playing room.
Consider Prospects
If you are a beginning rider, you will need a finished horse. This means that the animal should already know how to do everything you intend to do with him. If you want to show hunter/jumper, the horse should have a hunter headset and should be capable of clearing fences without a problem.
However, if you have significant experience in the saddle, you might consider looking at "prospects". A prospect is a horse who has the potential to do something, but doesn't yet have the requisite training. This is a gamble because you might discover down the road that the horse isn't capable, in which case you will have to sell and try again. However, experienced riders will save money by looking at prospects as well as finished horses.
Call Around
Just because a horse isn't listed in the classifieds or on a stable's web site doesn't mean he isn't for sale. Rather than relying on advertised horses, call around to local barns and stables and ask if they have any inventory. You might discover a gem that hasn't made it to the open market yet.
Speed Counts
When you see a horse you really want, you can save money by laying down an offer right away. Reason being, horses increase in value as they receive more training and polishing. If you wait too long, the price will go up because the owner has invested more time and energy into the horse.
Try Him Out
When horse shopping, it is always prudent to ask to try the horse out for a few days (usually a week or two) before making the sale final. You might have to give the owner a substantial deposit, but with the expectation of a full refund if you decide the horse isn't right for you.
This will help you save money because, after working with the horse for several days, you might discover that his vices are too much for you to handle. This doesn't decrease the up-front price, but you won't spend thousands of dollars in training so you can break his bad habits.
You will be surprised by the number of horses available in your price range, but you have to be willing to shop around and wait for the right horse to come along. Don't go outside your price range just because you think you won't find a better horse than the one that costs too much.
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