stuck in a black horse agreement

[maxnemo]

Ive got a car under a black horse agreement and wounderd if any1 new if there was a way out? i can afford it its just my car is not practical because im now pregnant. help any1...??????

[flyingdoc]

Im sorry that your circumstances have changed and that you find that you have a different need. Having said that just trying to wriggle out of an agreement simply because you have become pregnant, especially when you freely admit that you can afford the agreement IMHO is not the reason that this forum was set up in the first place.

 

If you have paid more than a third of the agreement I think you may be able to do a voluntary termination (although I stand to be corrected on this point) you give the car back and owe nothing more.

 

That may depend on the agreement. and I await thers opionionss

[cosalt]

Hi, you need to have paid 50% or more of the total amount payable, including any advance payment.

 

Be careful with black horse, they have a habit of signing people up on Fixed - Sum Loan Agreements, rather than HP, these agreements have no VT rights. Although technically you do own the car from day 1. I am currently looking into this with a Fixed Sum agreement I have.

 

Cosalt:)

[Surfer01]

Hi, you need to have paid 50% or more of the total amount payable, including any advance payment.

 

Be careful with black horse, they have a habit of signing people up on Fixed - Sum Loan Agreements, rather than HP, these agreements have no VT rights. Although technically you do own the car from day 1. I am currently looking into this with a Fixed Sum agreement I have.

 

Cosalt:)

We got caught on this with Toyota Finance as I thought I was signing an HP agreement as normally second hand high value cars are sold on HP i.e. £9000. We would be interest in any info as I have been made redundant and at the moment are on a reduced payment.

We can't sell the car to pay off the debt without a substantial loss due to Mr Darling proposing to hiking up the road tax by nearly £90 which then caused the car to depreciate faster than normal.