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black horse finance
hi can any one help
i have a finance agreement with black horse which the interest (10.8%) is crippling me.
its on a motor home.
i have asked black horse for help if they can lower the interest rate but they are not interested. in dont want to loose the vehicle. but i see no way out
i have a finance agreement with black horse which the interest (10.8%) is crippling me.
its on a motor home.
i have asked black horse for help if they can lower the interest rate but they are not interested. in dont want to loose the vehicle. but i see no way out
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Comments
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Sell the motor home and pay of the finance if it is "crippling you"
There is no way they will reduce the interest, if anything they should increase it knowing you are high risk as you are "struggling"
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OP you might get more replies in the debt free wanabe section - we don't know how much you are paying or why the loan is crippling you now but not when you purchased the vehicle.0
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10.8% isn't a high interest rate, many would love to get that type of rate.0
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Nice_Weather_For_Ducks wrote: »Sell the motor home and pay of the finance if it is "crippling you"
There is no way they will reduce the interest, if anything they should increase it knowing you are high risk as you are "struggling"
Not true. I had a car with Black Horse. They reduced the interest rate every year. They told me when I took the loan that they would consider this if my account was kept in excellent order and as long as I went into their office to discuss. They were as good as their word.Sealed pot challenge member #325
£591.02 / £1500
£2 saver club member #83
Target £246 / £5000 -
What was it when you started and how did they reduce it (how much % per year/review)?Not true. I had a car with Black Horse. They reduced the interest rate every year. They told me when I took the loan that they would consider this if my account was kept in excellent order and as long as I went into their office to discuss. They were as good as their word.
10.8% isn't a bad rate overall. I can see them reducing if they gave a huge APR at the start to bring it to a more sensible level but unlikely from 10.8%.0 -
The 10.8% might be flat rate.I used to think that good grammar is important, but now I know that good wine is importanter.0
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What was it when you started and how did they reduce it (how much % per year/review)?
10.8% isn't a bad rate overall. I can see them reducing if they gave a huge APR at the start to bring it to a more sensible level but unlikely from 10.8%.
My loan was in 2005 for 4 years. Think it was about 12%. It came down 0.5% in year 1 and 1% in each of years 2 and 3 ( as in at the end of each year).
I found them ( as in the office closest to me) to be really helpful. No problems at all.Sealed pot challenge member #325
£591.02 / £1500
£2 saver club member #83
Target £246 / £5000 -
Deal is probably £30 k over 120 months at 6% flat rate. Monthly payment in region of £400 a month.0
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