Every horse crazy person will ask their parents for a pony at least once. There is a sadly large amount of parents that say no, but to the people whose parents say yes, I congratulate you. Once gaining your parents' approval, the next step is to decide whether to lease or buy. Now I know absolutely nothing about either leasing or buying so today, we're focusing solely on leasing horses. What it is, benefits and drawbacks and things to be considered financially.
Leasing a horse is basically renting it. You write up a contract with the owner that will determine whether you or the owner is responsible for organising and paying for the vet, farrier, tack, feed, grazing and any other costs. The contract will also state if it is a free lease or if you are to pay the owner a certain amount every week, fortnight or month.
Having a lease horse can be a good option if you are young, your family may not be able to afford it or it just simply might not work. It means that you aren't burdened with an unwanted horse if something happens, it simply goes back to the owner. One drawback of leasing is that the owner may decide they want to sell the horse and you may not be able to buy it because of various possible reasons. Another drawback is that you can be limited to what you do with the horse and where you take it. The owner might state in the contract that the horse must stay at the current grazing, or cannot be jumped, or cannot go to outings. A lease is a good way to trial if having a horse will work for you and your family though.
Financially, leasing a horse can be a very good, safe option for someone but it can come at a cost. Some owners make the terms of the lease that you only ride the horse and don't have to worry about it's upkeep, but this means you are paying to ride a horse which doesn't benefit you except getting some extra riding time. Another thing to consider is that is you have to pay for the horse's needs and also have to pay a regular amount to the owner for the lease, this can make it much more expensive than it could be in some situations.
Leasing a horse is a great option to riders who have tricky financial situations or are just not sure if they have the time or commitment for a horse, but as with everything, there are some drawbacks. The owner always has the last say with the horse and may put annoying restrictions in place as part of the leasing contract. If you want a horse, but don't know if you can afford it or don't want to end up in a situation where they are burdened with an unwanted horse, the a lease agreement on a horse would be perfect.
Until next time,
-KaimanawaKim
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