The advantage on buying a horse is that you will be able to call that -kind- of horse back even when it dies.
Thus, if you buy a nice horse such the Kentucky Saddler, American Standardbred or Hungarian Half-bred you won't need to break them again to use them.
By the way, once you buy a horse it won't automatically come to you ..
you must open your inventory and use the item you bought representing the horse...
then, the horse you were using will go away and the 'item' horse will come to you.
This item representing the horse has unlimited uses.
gaming.stackexchange.com/users/96/alFador
When you purchase the deed to a horse, and "Use" the deed you will have that horse when you whistle for it (and the deed never goes away and you can use it as many times as you like).
So purchasing the deeds to horses are the only way to switch to new horses without losing your old ones.
I would suggest you purchase the deeds to the Kentucky Saddler, Hungarian Half-Bred and American Standardbred (but make sure you get them at stores where you have the discounted rate - $750 each)
gaming.stackexchange.com/users/66/Jon Erickson
Some horses are better than others, for instance the bright white Hungarian Half-Bred and solid black American Standardbred.
These horses are among the best in the game, but can't be purchased unless you've broken at lest one of the same type in the wild.
After that, a horse is a horse.
For a given breed, the only difference is in the wild they're free, but if you purchase a deed it looks like you can re-use one over and over to respawn a horse of the same type if your current one dies.
gaming.stackexchange.com/users/97/Matt Blaine
its better to buy a horse because if you look up cheats you can get 500 dollars and keep on turning it on and you will have enough to buy the best horses
hope this helped good luck
gaming.stackexchange.com/users/22824/christian
Buying a horse is expensive, not to mention wild horses are free.
But the most beautiful horse in the game is the Kentucky Saddler.
I would recommend you buying the horse because you also have cheats of 500 dollars in the game.
gaming.stackexchange.com/users/41530/The Joker
Personally, I would catch a horse because buying them is really expensive, also when you catch a horse it gives you a trusty steed bonus ( I don't really know what that means)
gaming.stackexchange.com/users/174157/Alexwattle
So far I caught my current horse early on in the game and now I can buy them at the merchant. Are there any advantages of buying a horse?
Buying vs catching a horse in Red Dead Redemption
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gaming.stackexchange.com/questions/90
gaming.stackexchange.com/users/89/akira
Catching a horse is free and gives you a bonus. Buying a horse means you will be able to call that horse back when it dies.  One school of thought is that it is better to buy a horse, because if you look up cheats you can get 500 dollars and purchasing the deeds to horses are the only way to switch to new horses without losing your old ones.  Anothe advantage of buying a horse is that you will be able to call that -kind- of horse back even when it dies. But buying a horse is expensive, not to mention wild horses are free. So others argue that catching a horse is better, because buying them is really expensive. In addition, when you catch a horse it gives you a trusty steed bonus.
One school of thought is that it is better to buy a horse, because if you look up cheats you can get 500 dollars and purchasing the deeds to horses are the only way to switch to new horses without losing your old ones.  Anothe advantage of buying a horse is that you will be able to call that -kind- of horse back even when it dies. But buying a horse is expensive, not to mention wild horses are free. So others argue that catching a horse is better, because buying them is really expensive. In addition, when you catch a horse it gives you a trusty steed bonus.