Is A Horse Cheaper Than A Car?
While at a horse show last weekend, my friend and I discussed our horses and how beautiful they looked in their new show bridles.
We both laughed as we joked how happy it made us seeing them dressed up in their best tack, strutting their stuff.
Then she commented, “with the amount of money I spend on my horse, I could have gotten a new car!”
Surely that couldn’t be true, could it?
It made me wonder, “Is a horse cheaper than a car?”
Owning a horse is generally cheaper in upfront price than a car, but the real difference in ownership cost won’t begin to show until after the first year. The foremost determination is the type of car or horse you buy, but many other factors determine if a horse is cheaper than a car.
Do horses cost different amounts of money, and how do I know how much to spend on one?
How will the price I pay for a horse determine how much it will cost in the future?
Does owning a car create fewer monthly expenses than owning a horse?
For the answers to these questions and more, simply keep reading!
How Much Does It Cost To Buy A Horse Compared to A Car?
Buying a horse is an important decision that you cannot take lightly.
It comes with many questions, including “how much should I spend?”
While finding a horse for free or very inexpensive is possible, you should be wary of why the owner isn’t charging more.
You run the risk of it being unhealthy or having behavioral problems, both of which will cost you significantly in the future.
Generally speaking, when it comes to horses, you get what you pay for.
Spending over $10,000 for a well-bred, quality showhorse is possible for some, but spending that amount for the casual backyard rider isn’t necessary.
Typically, a well-trained, healthy horse will cost between $1,500 and $3,000.
If you can pay that amount, you will find many quality horses to choose from that should be a perfect fit as a loving pet.
Now let’s compare the upfront cost of buying a car.
The average new car price in America is $41,472, and the average used car price is $19,000.
That is a big difference from the initial cost of a horse!
The most popular car loan duration is sixty-nine months, which averages approximately $600 a month for a new car and $275 a month for a used one.
So if you want to know if a horse is cheaper than a car, at first, the answer is yes.
Let’s dig deeper and see if that holds true over the life of both the horse and car.
Monthly Horse Care Expenses
When deciding to buy a horse, it’s important to understand how much their monthly expenses are.
Although not the exact amount, here is a breakdown of the average cost for a horse’s general upkeep each month.
Boarding
Ensuring your horse has a safe place to board before you bring it home is essential.
There are three different boarding options available if you can’t keep your horse on your property.
The first is self-care board.
Self-care boarding includes only a stall and access to a pasture; you are responsible for your horse’s daily care, including feeding and grooming.
Self-care is the least expensive option at approximately $150/ per month.
The second option is pasture board.
Pasture boarding means your horse is in a pasture with a run-in but no stall option.
While a great way to keep costs down, this option won’t work for you if your horse doesn’t do well in the elements.
Pasture boarding costs approximately $275/ per month.
The final option is full-care board.
Full-care boarding includes a stall and barn staff, who take care of everything your horse needs, including feeding and grooming.
While it’s the most convenient option, it is also the most expensive at approximately $550/ per month.
Feed
It goes without saying that you will have to feed your horse.
The amount you pay each month depends on your horse’s ability to graze in the pasture, the quality of the grain and hay you choose, and the supplements you give it.
The average feed bill is approximately $173/ per month.
Veterinarian
One of the most significant expenses in owning a horse is the veterinarian.
Although you most likely won’t need to see a vet every month, you will have to see them multiple times a year.
Vet expenses include emergency visits, physicals, vaccines, teeth floating, and Coggins tests which check for Equine Infectious Anemia which spreads rapidly and is fatal.
As long as you aren’t calling the vet for multiple emergency visits, your vet bill will cost an average of $700/ year or approximately $58/ per month.
Farrier
You should have the farrier out every four to eight weeks to keep your horse’s feet healthy.
Their services include barefoot trim, shoeing, and corrective shoeing and cost on average $215/ per month.
Tack And Supplies
Tack is expensive, but if you buy quality products, you shouldn’t have to purchase them again for a long time.
Expect to pay around $2,000 for a saddle, pads, girth, and bridle.
Daily supplies are necessary for your horse’s upkeep.
Halters, lead ropes, buckets, and fly spry are a few items you’ll need, and they can cost approximately $400/ year.
Monthly Car Expenses
Owning a car comes with many monthly expenses.
Below is a list of what you can expect to pay each month, whether you have a new or used vehicle.
Insurance
If you get a car, you’re going to need insurance. Expect to pay approximately $80/ per month
Gas
Without gas, you’re not going anywhere. It’s going to set you back about $400/ per month
Upkeep
You are going to want to keep the car in tip top shape right? So general upkeep is going to cost approximately $65/ per month
Loan payment
This will be approximately $400/ per month
The table listed below shows the monthly expense for a horse and car, including the upfront cost of purchasing each.
| Horse | Car |
| Upfront Expense: $1,500.00-$3,000.00 | Upfront Expense: New $41,472.00
Used $19,000.00 |
| Monthly: Boarding – $150.00 – $550.00 | Monthly: Insurance – $80.00 |
| Monthly: Feed – $173.00 | Monthly: Gas – $400.00 |
| Monthly: Veterinarian – $58.00 | Monthly: Upkeep – $65.00 |
| Monthly: Farrier – $215.00 | Monthly: Loan Payment – $400.00 |
| Monthly: Tack/ Supplies – $34.00 |
The average monthly expense of owning a car is $945/ per month.
Compare that to the average monthly cost of owning a horse which is $760/ per month, and it would seem the horse is cheaper.
However, the final statistic changes everything.
The average lifespan of a car is twelve years, making the final cost of car ownership approximately $95,760 for the life of the vehicle.
The average lifespan of a horse is twenty years, making the final cost of owning a horse about $182,400 for the life of the horse.
When all is said and done, although the monthly cost for a horse may be less than a car, the length of the horse’s life ultimately means it will cost more to own than a car.