2014 Lender Lists:

Black Horse @ www.blackhorse.co.uk

Black Horse

Black Horse is one of the UK’s most recognisable car finance providers. This brand is a division of The Lloyds Banking Group and they can be reached online at www.blackhorse.co.uk. Their formation came in 2001 although their origins stretch back to the year 1922. Rather than targeting consumers directly, the strategy was taken to establish relationships with car dealers in volume. Their dealer network has impressively grown to over 5000 that has helped this financing specialist to become one of the leading motor finance lenders. They help over 200,000 customers each year covering mostly new and used cars and they also cater caravans and motorbikes.

The Black Horse finance options include Hire Purchase and then there is the Ultimate Plus product where the payments are based on your annual mileage. At the end of the agreement you can return, part exchange or buy outright with a final balloon payment. There is also the Personal Loan selection that suits those that don’t wish to pay a deposit (the other options require 5%+). The HP and loan choices grant up to £25,000 over a maximum of 5 years. Ultimate Plus has a 2 or 3 year term. No direct applications can be made on www.blackhorse.co.uk with them instead guiding you to search for a local dealership.

You can manage your account through this website. No such APRs are quoted by them. From past research, they do tend to offer between 6% and 12%. If you have poor credit then it may still be possible to qualify, but the subprime rates would likely stand in the mid-40s. This FLA member provides customer support between Monday and Friday from 8.30am to 6pm and on Saturday from 9am to 1pm. Customer reviews have tended to be mixed over the years. The high profile PPI complaints haven’t helped their cause. This Lloyds brand isn’t the only banking competitor around, with Barclays and Santander also being firmly established in motor financing.