you can only equip 1 mount at a time, but you can own multiple.
IE you own 1 mount, you get another, it appears in your inventory as an item. If you equip it, your current mount replaces it in your inventory as the new mount is now equipped.
You can own as many as you like, but they will take up standard inventory or bank slots. You will just need to swap them into the active slot anytime you want to use another mount.
Thanks for the fast reply. My friend bought a mount (5g horse) then used a rental token to get rid of it. When he did that the 5g horse was gone. Not in his inventory. Maybe it bugged on him, either way I wanted to know before I bought some of the better one. thanks for the help
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IE you own 1 mount, you get another, it appears in your inventory as an item. If you equip it, your current mount replaces it in your inventory as the new mount is now equipped.