Competing in The All-American Quarter Horse Congress is a prestigious dream for many. If your application to compete at Congress has been approved, you may be feeling a bit overwhelmed and insistent on getting more training, practicing, and lunging in. However, don't procrastinate too long on planning the trip and where you will stay. Here's what you need to know.
Where will you stay?
Congress is like the Super Bowl of horse shows, but on a much, much larger scale. In fact, the show attracts over 650,000 people to Columbus, OH and generates $285 million for the local economy. What does this mean for people who compete at Congress? Long lines and hard-to-find hotel rooms. But since you'd rather be near your horse anyhow, competing at Congress is the perfect reason to trade in your horse trailer for one with living quarters, right? Right!
What's your current horse trailer worth?
Before attending Congress, find out what the trade-in value is for your current trailer. Contact several of the trade show attendees and horse trailer dealers to see what they would offer you for trade-in value. Many horse trailer dealers can assess the condition and give a trade in value range based on photographs. This is just to get a ballpark idea so you will know how much you should get pre-approved for from your bank.
Are you competing as a hobby or to generate income?
One thing that should be considered is whether you are competing as a hobby or as a way to generate income. The reason to make this determination is due to taxes. If you are competing as a business rather than as a hobby, use your business name when you get a loan and when you register and insure your new trailer. That way, it will show that you are determined to earn an income from showing your horse, which will mean you can take tax write-offs for some of your equine-related expenses.
How much can you afford?
Now that you have an idea of how much your current trailer is worth, it's time to meet with the loan officer at your bank to see how much you can afford and to get pre-approval from the bank. Horse trailers with living quarters are the most expensive types of horse trailers available. However, you can find great discounts on used trailers from most horse trailer dealers, especially the ones who take trade-ins.
For more information, check out a company like Lakota of Ohio today!