Black Horse Car Finance

Nemesis28

Hi,

Sorry if i am posting this in the wrong place but I couldn't see where else it would go.

Last month I finally paid off my 5 year HP agreement with Black Horse and the car is now mine. When I originally took the agreement out, i had a good credit rating . Since then my rating has declined and on Experian is classed as poor (700). Now i know that car finance companies use different systems but my query is if i was to apply for new car finance from Black Horse again, am i likely to be declined outright or will they view the fact i paid my previous HP agreement without missing any payments in a positive light? Does anyone have experience of this? The car I have would be part exchanged to use as a deposit.

The reason I am looking to change cars is I am currently expecting my second baby, with my first only being 6 months old and my current car is a 3 door Fiesta so you can imagine the difficulty I have already with car seats and space and that is before baby number 2 comes!.

Any advice would be appreciated, thank you!

SeanG79

They will take into account your previous agreement however it will depend on the amount of adverse you have picked up in the last 5 years. Often they will take a chance with a substantial deposit over a shorter term like 3 years. The only way to really know would be to actually apply.

poppasmurf_bewdley

The only loan I have taken out in the last 15 years was with Black Horse (in 2006), which was £2k over two years for a scooter for my son. I never missed a payment, and paid it off early. During the term of the loan, and for about three years afterwards, I was inundated with letters from BH offering to lend me money.

I would imagine that if your credit rating is OK you would have received the same.

rajarr

In my experience black horse are pretty lenient and will accept most people for finance unless they are bankrupt

debtcutter

Black horse were always the lender that would lend to people with ok to not great credit scores.

Sounds like you have an OK score, so they should help