Leasing vs. Buying: The Pros and Cons to These Different Approaches

When it comes to competitive performance horses, making the right choice between leasing and buying is an option worth exploring. Both options have their merits and drawbacks and understanding them is an important discussion you should have with your coach. Let’s look at some of the pros and cons of leasing and buying to help you start that conversation.

Pros of Leasing

Cost-Effective: Leasing allows you to access a high-quality performance horse without the hefty upfront purchase price. This can be especially beneficial if you’re just starting in the competitive world and don’t want to commit to a long-term financial investment.

Flexibility: Leasing offers flexibility in terms of the horse’s commitment period. You can choose short-term leases for specific events or longer-term leases if you plan to compete over a season. This flexibility can adapt to your changing needs and goals.

Reduced Maintenance Costs: If you are considering a part-lease, you may have the opportunity to share expenses like routine veterinary care, farrier costs, regular maintenance and even emergencies with the owner or the other leaser. This can save you money and alleviate the stress of both the regular costs of care and unexpected bills.

Try Before You Buy: Leasing allows you to evaluate a horse’s suitability for your specific needs before making a long-term commitment. This “trial period” can help you avoid purchasing a horse that isn’t a good fit for your goals.

Cons of Leasing

Limited Investment: While leasing offers cost savings upfront, you won’t build equity in the horse. If you’re leasing for an extended period, you may spend more over time than if you had purchased the horse initially. At the end of your lease period, you return the horse with only the gained expereince to show for it. You have to be prepared to spend the money on the lease in exchange for the value of the expereince.

Availability and Competition: Premium competitive horses for lease can be in high demand, leading to competition with other riders for the same horse. Availability may also be limited for the exact type of horse you desire.

Attachment and Training Continuity: Developing a strong bond with a horse can be more challenging when leasing, as you may not have the horse for an extended period. Consistency in training and competition can be disrupted if the horse’s lease terms change frequently.

Pros of Buying

Ownership Equity: Purchasing a performance horse means you build equity in the horse itself. If the horse performs well and gains value, you may have an asset that can appreciate over time.

Training Control: As an owner, you have complete control over the horse’s training, care, and competitive schedule. This can be advantageous if you have a specific training program in mind.

Emotional Connection: Owning a horse often leads to a deeper emotional connection and sense of pride in your partnership. This bond can be a driving force for success in competitive events.

Cons of Buying

High Initial Costs: Buying a top-tier performance horse can be expensive, with costs including the purchase price, ongoing care, and training expenses. It’s a significant financial commitment upfront.

Long-Term Responsibility: Owning a horse is a long-term commitment, which means you’re responsible for its well-being throughout its life. This includes medical care, retirement planning, and potentially finding a suitable home if you decide to part ways with the horse.

Risks and Uncertainties: Competitive performance can be unpredictable. There’s no guarantee that a purchased horse will perform at the expected level, and it’s possible to encounter unexpected health issues or injuries that affect their career.

The decision between leasing and buying a horse ultimately depends on your goals, budget, and preferences. Leasing offers flexibility and cost savings upfront, while buying provides ownership equity and emotional attachment. Carefully weigh the pros and cons of each option and consider seeking guidance from equestrian professionals to make the best choice for your competitive riding journey. Remember that every horse and rider combination is unique, and the right decision will depend on your specific circumstances and aspirations.