Black Horse Finance - exchange?

BellaBulldog

Hi there,

I currently have a Corsa on a HP agreement from Black Horse. I have had this for 2 years, but my circumstances have changed and now need a bigger car.

Am I able to exchange the car for another of the same value and carry on with the agreement? Or will I have to wait 6 months until the half way point to hand it back and start with another agreement?

Thanks
Lyndsay

molerat

You cannot swap cars on the same agreement. You simply go to a garage to p/ex your car and buy another on a new agreement and they will sort paying off the old finance. If you buy from the same dealer using the same finance company it [STRIKE]will[/STRIKE] should be quite straightforward but any dealer that uses finance will be able to sort it.

BellaBulldog

Thats great, thank you. Not very sure how it all works! However might just sit on it for 6 months and hand the car back and get my own finance for next car , not keen on Black Horse!

Lyndsay

SeanG79

You dont have to use black horse again...you can call them up and request a settlement figure. They will give it to you verbally and post out a copy.

That settlement figure is valid for x days.

If you buy through a dealer, you can use their finance credit lines, or arrange your own finance. The dealer can then arrange to settle the existing finance and you start the new agreement. There is not set amount of time the agreement must have run for in order to settle it. however you may in negative equity on your current agreement, which will either need to be settled by you or carried over onto the new agreement.

BellaBulldog

Ive contacted my dealership so popping in tomorrow for them to value my car and get the settlement figure. Im prepared to have to carry something over as it needs a couple of repairs to it too, but have factored this in.

Hopefully can get rid of black horse, get the bigger car (but older) and keep my payments roughly the same every month.

Thanks for the advice, feel a bit better about it now!