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The Elder Scrolls IV: Oblivion Hints
What good are horses, and how can I get one of my own?
1 of 8: A fast horse can be used to run away from unwanted combats (or can help you attack enemies after you dismount), and will get you to fast-travel destinations in much less time than if you were on foot.
2 of 8: Also, horses can be very useful when riding around in mountainous areas since they can slowly but surely get up even the steepest inclines. Ride up an incline until your horse seems to get stuck, then turn left or right a bit while still trying to move forward. Jumping can often help speed things up, but isn't usually necessary.
3 of 8: As for getting a horse, you can always sneakily steal one from the town stables for short-term use.
4 of 8: Stolen horses will behave for you as you ride them, but they'll usually start trotting back to the place you stole them from as soon as you get off of them.
5 of 8: The advantage of owning a horse is that he won't run off on you (usually), and he'll follow you around when you fast travel, even if you're not riding him.
7 of 8: If you really want to buy a horse, you can do so at the stables in Anvil (white horse for 4000 gold), Bravil (bay horse for 1000 gold), Bruma (paint horse for 500 gold), Cheydinhal (black horse for 5000 gold), Chorrol (chestnut horse for 2500 gold), Leyawiin (paint horse for 500 gold), and Skingrad (bay horse for 1000 gold).
8 of 8: NOTE: Black horses are the fastest ones, but white horses have the most health.