Get a $200 cash back bonus after spending $1000 within 90 days of opening an account.

Plus pay no interest for the first 15 Statement Closing Dates following the opening of your account with the 0% Introductory APR.

• 3% cash back in the category of your choice that includes either gas, online shopping, dining, travel, drug Stores, or home improvement & furnishings
• 2% cash back at grocery stores and wholesale clubs
• 1% cash back on all other eligible purchases

It’s easy to choose by simply going to the Mobile Banking app or to Online Banking and changing your choice category for future purchases once each calendar month, or make no change and it stays the same.

TERMS & BENEFITS

• Grace Period: 25 days
• APR Intro: 0% for 15 months
• Annual Fee: $0
• Balance Transfer Fee: 4% (min $10)
• ATM Cash Advance Fee: 5% (min $10)
• Foreign Transaction Fee: 3%
• Fraud Protection: yes
• Warranty Extension: yes
• Price Protection: n/a

Besides what the Visa card gives you, support from Bank of America makes these AQHA programs and events possible:

• Built Ford Tough AQHYA World Championship Show
• Lucas Oil AQHA World Championship Show
• Adequan Select AQHA World Championship Show
• Level 1 Championships Shows
• AQHA Convention
• Bank of America Youth Excellence Seminar
• Bank of America Racing Challenge
• The American Quarter Horse Foundation

ABOUT AHQA

The American Quarter Horse Association (AQHA), headquartered in Amarillo, Texas, is an international organization dedicated to the preservation, improvement, and record-keeping of the American Quarter Horse breed. Founded on March 14, 1940, in Fort Worth, Texas, the AQHA serves as the official registry for the breed and sanctions numerous competitive events worldwide.  

History and Formation: The idea for the AQHA arose from articles written in the 1930s by Robert M. Denhardt, who highlighted the history and characteristics of the Quarter Horse. On March 15, 1940, approximately 75 Quarter Horse enthusiasts gathered in Fort Worth, Texas, to officially establish the association. The first stud book was published in 1941, listing 537 horses that met the criteria for the breed.

The Quarter Horse breed itself traces its roots back to Colonial America, where English Thoroughbreds were bred with various local horses, including those of Spanish ancestry. These horses were known for their speed over short distances – particularly a quarter of a mile – hence the name “Quarter Horse.” They were versatile animals, used for both work and racing.

Mission and Objectives: The AQHA’s primary goals include:

• Maintaining the official registry of American Quarter Horses.
• Preserving and improving the breed through the establishment of breed standards and ethical breeding practices.
• Sanctioning and supporting a wide range of equine events and activities that showcase the versatility of the Quarter Horse.
• Promoting the American Quarter Horse to a global audience.
• Supporting educational programs related to the breed.

Activities and Programs: The AQHA is involved in a vast array of activities, catering to various interests within the Quarter Horse community:

• Registration: The AQHA maintains the pedigree records for millions of American Quarter Horses worldwide.
• Shows and Competitions: The AQHA sanctions and oversees thousands of horse shows and competitions each year, encompassing various disciplines, including:
  • Western Riding: Western Pleasure, Horsemanship, Trail, Reining, Working Cow Horse, Ranch Riding, Barrel Racing, Pole Bending, Roping events (Tie-Down, Breakaway, Team Roping).
  • English Riding: Hunter Under Saddle, Hunt Seat Equitation, Hunter Hack, Jumping, Pleasure Driving, Western Dressage.
  • Halter: Judging the conformation and build of the horse.
  • Equestrians with Disabilities: Providing opportunities for riders with disabilities.
  • Youth Programs: Offering classes and competitions specifically for young riders through the American Quarter Horse Youth Association (AQHYA).
• Racing: The AQHA is the official sanctioning body for Quarter Horse racing, which is known for its short, explosive sprints. They maintain racing records, issue racing permits, and recognize racing champions. The American Quarter Racing Association (AQRA) was initially formed separately in 1945 but later became the racing arm of the AQHA.
• Awards and Recognition: The AQHA recognizes the achievements of American Quarter Horses and their owners through various annual and lifetime achievement awards. They also maintain a Register of Merit system for racing horses.
• Educational Resources: The AQHA provides numerous educational resources, including:
  • The Quarter Horse Journal: A monthly magazine for members.
  • AQHLearn: Online courses and educational materials about horse care, training, and the breed.
  • Downloads and Activities: Free downloadable resources like conformation charts, coloring sheets, and activity books.
  • Ride the Pattern Clinics: Educational clinics at shows where professional horsemen demonstrate show patterns.
• American Quarter Horse Hall of Fame and Museum: Located in Amarillo, Texas, this institution honors the horses and people who have made significant contributions to the breed.
• American Quarter Horse Foundation: This charitable arm of the AQHA supports programs that preserve the breed’s legacy and further the well-being of Quarter Horses and the Quarter Horse family through charitable giving, including scholarships and a crisis fund.
• International Presence: The AQHA has a significant international membership, with owners and enthusiasts in over 60 countries.

The American Quarter Horse Association plays a vital role in the equestrian world, promoting and preserving a breed known for its versatility, athleticism, and good temperament. With a large and active membership, the AQHA continues to support a wide range of activities that celebrate the American Quarter Horse.

FINANCING A QUARTER HORSE

Purchasing an American Quarter Horse can be a significant investment, and various financing options are available to make ownership more accessible. Here’s a breakdown of potential routes:

1. Personal Loans:

• Flexibility: You can often use a general personal loan to finance the purchase of a horse, as long as the lender doesn’t have specific restrictions.
• Types: These can be secured (backed by collateral, though less common for horses due to depreciation) or unsecured.
• Terms: Repayment periods typically range from two to seven years.
• Sources: Banks, credit unions, and online lenders offer personal loans. Some lenders, like LightStream, may have specific equine financing options with potentially favorable rates for borrowers with good credit.
• Considerations: Interest rates can vary based on your creditworthiness. Some lenders might be hesitant to finance horses due to their depreciating value and potential for injury or illness.

2. Equine-Specific Loans:

• Specialized Lenders: Some financing companies cater specifically to the equine industry, understanding the unique aspects of horse ownership. Examples include Farmers National Bank and Blue Bridge Financial.
• Tailored Terms: These lenders may offer terms and structures better suited to horse-related expenses.
• Potential Uses: Funds can often cover the purchase price, transportation, equipment (tack), and even boarding or initial veterinary care.

3. Seller Financing/Installment Contracts:

• Direct Agreement: You might be able to work directly with the seller to establish a payment plan over a set period.
• Less Upfront Cost: This can reduce the initial financial burden.
• Important Note: Carefully review the contract terms, including interest (if any), payment schedules, and what happens if you can’t make a payment.

4. Lease-to-Own Agreements:

• Trial Period: You lease the horse for a specific time with the option to purchase it at the end of the lease.
• Monthly Payments: Regular lease payments contribute to the final purchase price.
• Evaluation Period: This allows you to ensure the horse is a good fit before committing to full ownership.

5. Farm Loans (If Applicable):

• Agricultural Operations: If you are purchasing a Quarter Horse as part of a larger agricultural or equestrian business, you might qualify for farm loans from institutions like the Farm Service Agency (FSA) or other agricultural credit providers (e.g., Central Kentucky Ag Credit, Horizon Farm Credit, United Ag Lending).
• Variety of Purposes: These loans can cover livestock purchases, operating costs, facility improvements, and land acquisition.
• Specific Requirements: Eligibility often depends on the agricultural nature of your operation and may involve acreage minimums.

6. Credit Cards:

• Smaller Amounts: For lower-priced horses or to cover initial costs, a credit card might be an option, especially if you can take advantage of introductory 0% APR periods.
• Interest Rates: Be mindful of high interest rates if you carry a balance beyond the introductory period.

7. Personal Savings:

• Ideal Option: If feasible, using your own savings avoids incurring debt and interest charges.

Factors to Consider When Financing a Quarter Horse:

• Purchase Price: The most significant cost, but prices vary greatly based on age, training, breeding, and show record.
• Ongoing Expenses: Remember to budget for feed, boarding (if you don’t have your own property), farrier care, veterinary care (including routine and emergency), dental care, vaccinations, deworming, tack, and potential show or training fees.
• Loan Terms and Interest Rates: Carefully compare offers from different lenders to secure the most favorable terms.
• Your Credit Score: A good credit score will generally qualify you for lower interest rates and better loan terms.
• Collateral (If Required): Understand what assets might be used as collateral and the risks involved.
• Loan Fees: Be aware of any origination fees, prepayment penalties, or other charges associated with the loan.

Where to Begin:

1. Assess Your Financial Situation: Determine how much you can realistically afford for the horse and ongoing care.
2. Explore Different Options: Research the various financing methods outlined above.
3. Compare Lenders: Get quotes from multiple lenders to compare interest rates, terms, and fees.
4. Read Loan Agreements Carefully: Ensure you understand all the terms and conditions before signing any contract.

Owning a Quarter Horse can be a rewarding experience. By carefully considering your financing options and budgeting for all associated costs, you can make informed decisions to bring your equestrian dreams to life.