What credit score do you need to buy a horse trailer?

In today’s blog post, we will answer the following question: What credit score do you need to buy a horse trailer? We will discuss how difficult it is to finance a horse trailer, what you need to pay attention to and how you can buy a horse trailer with no credit or bad credit. 

What credit score do you need to buy a horse trailer?

You need a credit score of at least 620 to buy a horse trailer and a debt-to-income ratio below 36%. Despite the aforementioned figures, there is no accurate answer about the score needed to get a loan. Obtaining a horse trailer loan with bad credit will depend on factors such as:

  • Your credit history
  • Requirements, which vary between lenders
  • Your situation

Although there is a chance to obtain financing for a horse trailer even with having bad credit, it is important that you remember that these loans are accompanied by high interest rates. To reduce them, it is advisable that you prepare before making the purchase of your new trailer.

How to buy a horse trailer with a low credit score

If you have bad credit, no credit or have a unique situation with your credit, it is recommended that you prepare for the purchase of your new horse trailer:

  • Pay the costs incurred by repossession – If your trailer has been repossessed, you are still responsible for paying the dealer the costs caused by the repossession process and, if any, pay the difference between the sale price of the trailer.
  • Request a copy of your credit – Every 12 months you can get it for free. This will allow you to review the conditions of your credit and solve any error or discrepancy between your accounts.
  • Reconcile with your debts – If you have debts on credit trailers or any other type of credit, it is recommended that you make your payments up to date and lower your balances. Lowering them will help you increase your credit points, allowing you to obtain a lower interest rate when requesting financing for your new trailer.
  • Start saving for the down payment – Subprime lenders generally ask for 10 percent or $ 1,000, whichever is less. If your budget allows it, it would be a good idea to save a little more, so that you can offer a larger advance than requested. Thus, your credit will cost you less at the end of the contract.

How difficult is it to finance a horse trailer?

Buying a horse trailer can be a huge investment. While it is a certainty that doing your homework makes it much easier to acquire a good trailer suited to your needs and at an affordable price, many people buy them without considering the entire towing device.  In this article, we reveal the important points to take into account before making your purchase.

If you can’t manage the entire purchase with your savings, getting a trailer loan is the same as financing a car, getting a student loan, or getting a mortgage.

When you get the right funding, you have the option of setting up a fixed payment that will be made each month over a specified period. The interest rate at which this loan will be subject will likely depend on your financial history. You will be able to use the trailer or any other equipment while continuing to repay the entire loan.

In the vast majority of states in the US, the registration process is almost similar to that of a car. When purchasing a trailer, you are issued a title deed, and you will then need to follow your state’s next steps to complete the registration. The registration process is not the same in all states. So consult local laws and regulations to understand all the ins and outs.

Some things to consider before buying a horse trailer

Before buying a horse trailer, keep in mind that it must be maintained and stored properly. Any horse trailer must be serviced at least twice a year, more often if you are using it almost on a daily basis or if you are transporting more than one horse!

To guarantee optimum durability and increase the safety of the trailer, it is best to check a few important points and perform the right actions. When the trailer is immobilized for a long time, it is advisable to position it on chocks or jack stands in order to relieve the tires.

This solution is also to be adopted to carry out all maintenance work on the trailer:

  • bearings: regularly lubricate the parts by removing the hub caps,
  • wheels: check the tightness of the bolts,
  • spare wheel: check its condition regularly,
  • tires: regular inflation of the tires to ensure the safety of the coupling,
  • brakes: replace them if they are defective,
  • coupling: the drawbar must be in perfect working order and must not show any point of wear,
  • trailer light: ensure the correct functioning of the lighting components without forgetting the condition of the connectors and wiring, remember to clean the cabochons periodically, even more often when the trailer is used for agricultural work. 
  • registration plate: it must be correctly fixed and the registration must be perfectly legible.

Note: Regular inspection of the trailer’s parts and accessories does not dispense with checking by a professional.

The overhaul and maintenance of your trailer will give it maximum longevity and ensure good safety in use. By applying all the advice given in this section, your faithful working tool will perform its functions for many years!


When negotiating financing or refinancing a horse trailer, consider the amount of the monthly payment or instalment. If you want, you can use this monthly spending plan worksheet as a guide.

The only appropriate time to consider taking on additional debt is when you spend less than you earn. The extra burden of debt you decide to take on shouldn’t affect how much you set out to save for emergencies or other overriding life goals or priorities. 

If you have more questions or comments about the content, please let us know.

FAQ on What credit score do you need to buy a horse trailer?

How long can you finance a used horse trailer? 

A used horse trailer can be financed up to a 12-year term with a 6-year rate review on loans over $35,000. Keep in mind that the rates and terms are subject to change and the term is determined based on the currency.

Should I finance a horse trailer?

Horse trailer loans are a great way to improve your credit score if you pay them off on time. Look for a loan that doesn’t have a prepayment penalty. Selecting a longer-term loan with lower payments is generally a good idea, as you can always prepay and overpay if you wish.

How do I find a repo horse trailer?

The easiest method to find repo horse trailers is through an online search or by contacting your bank. The bank may put you in touch with the department that handles seized vehicle auctions. 

Can you refinance a horse trailer?

Fortunately, there are several ways to refinance the purchase of a horse trailer with monthly payments that fit within your budget. Buying a horse trailer, whether new or used, can be a major purchase. The amount you are able to finance, the number of payments and the interest rate will be determined based on factors such as the cost of the horse trailer and your credit rating.

Can you finance an older trailer?

It is not that easy to finance a trailer older than 15 years. If this is your case, you will have to either get a personal loan or a loan from a credit union. The score credit for an RV loan should be at least 700, and there are few lenders who finance an older trailer or someone with a low credit score.


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