Black Horse Car Finance - Voluntary Termination?

[clint1974]

Cannot seem to find anything about Black Horse on here so apologies if there is a sub forum.

I believe they are a subsidiary of Lloyds Tsb.

 

My car finance is provided from them and they are next on my list to send a letter to reclaim late payment charges.

Just wondered if anyone has had any dealings with Black Horse or have any contact details.

I do remember phoning them to change a direct debit date recently and was told £15 charge for that!

[wonder nick]

they are on my list as well, my car loan is with them and they have clobbered me a few times when i have missed payments. the phone operators have told me that their charges have been added to the amount outstanding (their actual words were 'added at the end', suggesting no interest charges, but i very seriously doubt this).

 

i would be interested to hear how you get on!

[clint1974]

Well i will try and get some contact details and post later, will draft a letter this afternoon and get it sent off! I suggest you do the same!

[wonder nick]

i will wait a while, i am not working at the mo (start in a few weeks) so would be pretty screwed if they decided to demand full settlement, even of the arrears (two payments of 160 at least).

[clint1974]

There address for Subject Access Requests i'm told is :- Complaints Manager, Holbrook House, 116 Cockfosters Road, Barnet, Hertfordshire, EN4 0DY

 

Sent my letter today 32p an proof of posting! Await their reply!

[Kerrie78]

Hi Clint.

 

I hope they get your letter. It is more advisable to send letters to these companies via recorded mail, it costs an extra 68p but there is a track and trace number for you to see when the letter arrives.

You can prove posting the letter but you cannot prove them receiving it if they say it hasn't arrived.

 

I sent a letter to Abbey on August 16th and they received it on 18th. During a conversation they said the letter hadn't arrived until the 23rd but I knew otherwise and if it comes down to it I can prove it via the signature on the RM website.

[clint1974]

Hi Kerrie

 

So do I! I sent the request for Bank Statements recorded but as this account is only 6 months old i took the risk. I also managed to get Credit Card statements via telephone. I would normally use recorded but reckon its worth the risk this once!

[clint1974]

Well they recieved it as i had a letter back saying they will investigate and get back to me by 2nd Oct.

[clint1974]

Hello

 

I have read some of the previous threads and thought i would start my own regarding my HP. I have a car on finance thru Black Horse which was taken out in February this year. I owe around £2800. I no longer want it. What legally can i do?

 

Can i voluntarily terminate the agreement and what are the conditions for this? 50% has to paid? If not then is there anything that can be done to get out of this agreement?

 

Thanks

[clint1974]

anyone? If i pay off half would i be able to VT the agreement?

[Enough's Enough]

Hi There

 

If its a true HP agreement there WILL be an amount printed (usually on the schedule sheet) of how much needs to be paid before you can V.T. ...I've already done this twice without any problems...

 

The car can then be returned to the finance company but needs to be in a condition which is expected for age & normal wear'n'tear when it was originally sold to you,

ie. theres no major dents or scratches etc...if there is its best to get these sorted or patched up yourself as they'll charge you a small fortune if they do it themselves.

 

You need to watch though as some agreements which look like HP are actually personal loans then the V.T. rules do not apply only a 14 cooling off period...

 

Hope this helps??

[clint1974]

yes thanks. Just ordered a pack from Black Horse.

[Enough's Enough]

No probs...They'll just send the forms etc when all the paper works completed they'll either get a man in a van to pick it up or you'll have to return it back to where they say & find your own way home (As I had to do with my last car).

[clint1974]

Well if anyone has done this with Black Horse i would appreciate any comments?

[Csimmons]

Hi Clint1974,

 

I am currently trying to end my HP agreement with Blackhorse Finance also, I have paid over the amount required to end the agreement. I wrote to Blackhorse requesting the end of my agreement, they sent me a form to complete and stated that I need to pay a further £428.30 in oder to return the car.

 

I called them to find out why I had to pay this balance and they said it was the 'insurance premium'. Not happy with this answer I was advised to request a copy of the agreement, to see if an insurance premuim was included in the agreement ( I'm sure there isn't). I called again to dispute this balance and I was then advised that I was 'behind with my installments'.

 

If I have paid more than the amount specified in the agreement, and the car is in good condition, why am I liable to pay this balance?! The saga continues. Good luck, I hope things go smoothly for you! I'll keep you updated. If anyone has some advice i'll appreciate it.

[clint1974]

I recieved a copy of the credit agreement i sent for yesterday but still not had the "pack" through. Rang them up and the guy told me it has been sent but 2nd class, cheap skates. Do you know if the car has to be taxed? mines up and would rather give it back as is!

[still-learning]

Do you know if the car has to be taxed? mines up and would rather give it back as is!

 

Hi, last year I handed back 3 SEATS and the boy who picked them up advised us to keep the tax and cash it in, which we did and no negative feedback about any aspect of what we did.

 

It wasn't with your finance company but same rules should apply I imagine.

 

Cheers, hope this helps

[breadline]

Hi ya When i was having cars returned it was 3/4 of the agreement to be paid and the sum was usually written on the contract. The contract also states f the car has been maintained well and is in reasonable condition and some company's take liberties with this section, dont take "no we don't want it as a reply" say " sorry but your having it"

 

BL:)

[clint1974]

Thanx guys. Well the pack has finally arrived i will collect it from my parents tonight. Get all the paperwork together and of course the main crux of it the £1400 odd quid to pay it upto half off!

[clint1974]

I have the pack, there is a line that say's " I also understand that i may have additional liability if i have not taken reasonable care of the goods and the resale price is adversly affected" which i have to sign. Should i A: not sign or B: Sign crossing out the line? Then i have no liability?! The car IS in reasonable condition i just don't want them stating otherwise. ?

[clint1974]

Paid the 50% now, taking it to Measham Saturday so if anyone wants a cheep car goto BCA Measham next week

[blancomcr]

Hay there...i have a finance agreement with GE capital...does anyone know who i contact in regards to volutary termination (i.e the address?)..i am 26 months into a 5 year contract.

[RubioConfusedio]

Hello there,

 

I am just navigating my way through the maze that is the CAG forum! It is a doddle compared to the red tape and horse doo doo that Black Horse use...

 

I have just spoken with BlackHorse regarding my loan with them and several things of interest have appeared:

 

1) although they quote APR the interest is charged monthly; therefore if you take a 'payment break' you dont pay them any money, but you are accruing an extra months interest on the outstanding balance.

 

2) Apparently according to them I have a £1500 loan over 60 months - I thought I had taken it out over less (24 months) than that, but cannot find my paperwork due to house moves etc (and I am - correction was - rubbish at retaining that sort of thing) - Would they have increased the length of the loan to cover the extra charges I have incurred by missing a few payments? (another story entirely!) The figure I pay has not changed so I am even more confused!

 

3) When I asked for a settlement figure I was given this (paraphrased) response:

 

"The outstanding amount is currently £960; the settlement would be £936"

 

When I enquired further:

 

"the actual amount outstanding is £700 but the extra £230 odd is for 'admin' charges and interest..."

 

If I pay it off next month the amount will have increased due to the way the interest is calculated.

 

I took the loan out for a short-term period - I had been working in Spain for about 18 months, so my UK bank balance was 0 and credit history was pretty poor, which is why I put up with the 49% APR, but I feel I am being royally screwed over here. I can imagine I have been quite naive, but I think I innocently assumed that a large company like this would play fair!

 

I am currently going through the process with Lloyds trying to get my charges refunded etc but have no clue where to start with Black Horse. I think it may turn out that one of the sub-clauses gives them the right to my eternal soul.

 

Can someone suggest where to start in clearing up this mess? I am now in a position to be able to pay back the loan but which I thought was pretty much paid off - now I find I still have 2/3 of the loan still outstanding after nearly 2 years with apparently another 41 months to go!

[un1boy]

Hello there,

 

I am just navigating my way through the maze that is the CAG forum! It is a doddle compared to the red tape and horse doo doo that Black Horse use...

 

I have just spoken with BlackHorse regarding my loan with them and several things of interest have appeared:

 

1) although they quote APR the interest is charged monthly; therefore if you take a 'payment break' you dont pay them any money, but you are accruing an extra months interest on the outstanding balance.

 

2) Apparently according to them I have a £1500 loan over 60 months - I thought I had taken it out over less (24 months) than that, but cannot find my paperwork due to house moves etc (and I am - correction was - rubbish at retaining that sort of thing) - Would they have increased the length of the loan to cover the extra charges I have incurred by missing a few payments? (another story entirely!) The figure I pay has not changed so I am even more confused!

 

3) When I asked for a settlement figure I was given this (paraphrased) response:

 

"The outstanding amount is currently £960; the settlement would be £936"

 

When I enquired further:

 

"the actual amount outstanding is £700 but the extra £230 odd is for 'admin' charges and interest..."

 

If I pay it off next month the amount will have increased due to the way the interest is calculated.

 

I took the loan out for a short-term period - I had been working in Spain for about 18 months, so my UK bank balance was 0 and credit history was pretty poor, which is why I put up with the 49% APR, but I feel I am being royally screwed over here. I can imagine I have been quite naive, but I think I innocently assumed that a large company like this would play fair!

 

I am currently going through the process with Lloyds trying to get my charges refunded etc but have no clue where to start with Black Horse. I think it may turn out that one of the sub-clauses gives them the right to my eternal soul.

 

Can someone suggest where to start in clearing up this mess? I am now in a position to be able to pay back the loan but which I thought was pretty much paid off - now I find I still have 2/3 of the loan still outstanding after nearly 2 years with apparently another 41 months to go!

 

Send a sec 77 CCA request to them!

[RubioConfusedio]

Send a sec 77 CCA request to them!

 

Thanks. I don't suppose you could advise on where to find one of these template letters, or if they are called something different what that would be - I am sure I have searched everywhere!

 

ta,

 

p