By Nicole Fava
When it comes time to add a new equine partner to your life, you may ask yourself this age-old question: should I lease a horse or buy one?
It’s not an easy question to answer. But depending on where you’re at in your life or your riding career, one choice is bound to suit you more than the other! Here are lists of the pros and cons of leasing a horse vs. owning a horse.
The Pros of Leasing a Horse:
1. You have less financial responsibility. Though this depends on your lease contract and usage of the horse, there’s a high chance you will not be responsible for all costs associated with the horse’s care. You may be exempt from paying full price on the horse’s major medical bills!
2. You are not bound to that specific horse. When you’re ready to step up to the next level in your riding, or if the horse ends up not being the right match for you, you are not stuck. Nor do you need to go through the heartbreak and hassle of selling the horse! You can simply drop your lease, and the horse’s owner can allow another rider to take the reins.
3. You can choose how much time you commit to the horse. Busy with work or school? A half lease will suit you well, as you won’t have to go to the barn every day. If you’re wanting something closer to the horse ownership experience, a full lease is the way to go.
The Cons of Leasing a Horse
1. You have less freedom. Ultimately, you do not have the freedom to take the horse wherever you want, whenever you want without permission from the horse’s owner. A contract will bind you to certain limitations.
2. You are responsible for the well-being of someone else’s horse. And you are expected to treat it and love it as your own! This can get messy (and costly) if the horse becomes injured or sick on your watch.
3. A lease fee can add up. If you are not doing a free lease, a yearly lease fee may be expected of you, on top of what you are already paying for board and care. If you pay a yearly lease fee for a few years, this could eventually exceed the value of the horse. Buying a horse outright might save you more money in the end!
The Pros of Owning a Horse
1. Freedom! The horse is yours! You can make any and all choices regarding its living situation, the shows you attend, the trainer you hire, etc.
2. You are the horse’s primary rider. Even if you decide to put your horse in full training, the ultimate goal is that you’ll be able to ride the horse on your own. You’ll be able to structure your own training program and riding goals. It will be easy to track your progress and watch your hard work pay off.
3. You can develop a connection with the horse. As the horse’s primary long-term caretaker, they will get to know you best. Horse ownership is more than just having a half ton pet… they are a member of the family.
The Cons of Owning a Horse
1. You have full financial responsibility. This means you’re responsible for all boarding fees, feed, supplements, maintenance, and emergency vet bills.
2. If the horse does not work out or if you outgrow it, you need to deal with selling it or leasing it out. Selling your equine partner can be a hassle and heartbreaking all at once. Leasing out your person horse requires a lot of trust in the receiving party. And if you choose to hang onto the horse and purchase a step up horse, your responsibilities will increase tenfold.
3. You are the sole person responsible for the horse’s well-being. A horse is a lifelong commitment that deserves a lot of time, money, and sacrifice. If there are certain days where you cannot get to the barn, be prepared to pay a caretaker or trainer to tend to your horse.
I hope this guide helps you weigh the positives and negatives of owning and leasing. Take a serious look at your schedule, your finances, and your goals before making a decision. And always remember, if you have horses in your life… whether you own or lease… you are lucky!