Is it a Personal loan or HP.

[the phoenix]

I am confused with an agreement I wish to VT on . It is with Black horse for a car and is called a fixed Loan agreement. My query is ,is this a Conditional sale agreement , HP or a personal Loan.
The car is listed as goods on the agreement. The key information on the agreement states you have no rights under the consumer credit act to cancel but it lists 3 amounts a third ,half and three quarters if i wish to excercise my right to settle. Also in the terms and conditions under sale of goods it states that if I sell etc I must gain permission to do so and pay off outstanding balance immediately ,but no where does it list a termination figure.

your help to clarify this would be much appreciated from what I have discovered whilst search is an excellent site. Keep up the good work.

[steveoram1]

Sounds like a loan to me.

[tf82]

hi..

i too am confused as to whether i have a loan agreement or HP agreement with Black horse - can anyone confirm if they have a HP agreement does it clearly say HP agreement on their contract or as mines says at the top FIXED - LOAN agreement.
I just wanna sell mine for a bigger car but obviously stuck as to whether allowed to or not.

thanks in advance for any replies

[wino]

Why not ring Blackhorse and ask them?

[tf82]

oh i will in the morning .. just wondering if anyone else has come across this before - as i was led to believe it was a HP agreement until i got the details out just now..

[wino]

I thought my car was on HP until the funding Corporation told me it was a personal loan and took me to court to secure it on my house!!!!

I wish I'd found this site first as there is no signed agreement and I've remortgaged to pay it off AAAARRRGGGGHHH

[tf82]

thats a terrible thing to do surely that wouldntve stood up in court!! - these companies will try anything..grrrr!

oh i know this site is brill helps "everyday" people stand up for ourselves in this crazy world of credit!