Black Horse Car Finance

warren100uk_2

Hi,

Me and my girlfriend have really been struggling over the last 12 months because of bank charges from HSBC, but we are dealing with those. Anyway, over the last 2 months we have not even had enough money to pay for food, so have took a long and hard look at our money and need to cut back. The biggest thing we need to cut back on is the car we have with Black Horse, its £266 per month and cant afford to keep it as food comes first. We called them and told them this, the man on the phone said there wasnt much he could do as we are both working, but we knew that we can give it back after 36 months of having it. We got the paper work today, they want £271 plus £45 collection to end it! The whole reason why i need to cancel it is because i cant afford it. We called them and we still have to make the monthly payment until we have given them this money, Anyone know if we have to pay this to them? Can i just tell them i cant afford it get them to reprocess it? Maybe not the best route but i cant afford it.

Any help would be great.

Thanks

CLAPTON

you can choose to terminate a HP deal once half the money due has been paid.

warren100uk_2

Hi,

Thanks for that Clapton.

The problem is they want us to pay £271 before i can end it, plus £45 collection, i dont mind paying that, but i dont have £271 to end it.

Thanks

orlao

Hi

Once you have made the payments for half the term of the agreement and inform them that you want to return the car you DON'T have to make anymore payments.

About 6 years ago I did that and there were a few things to watch out for....

1) ONLINE Finance tried to get me to deliver the car to Staffordshire as they said that was where they said that they stored all their cars. They wanted about £500 to collect it.....maybe the £271 is a collection fee?
I pointed out that since I'd bought the car locally and the finance was arranged by a LOCAL dealer where they stored the car wasn't my problem.
2) They sent someone out to inspect the car (5 years old, 130,000 miles on the clock) who expected it too be put back to "as new" condition. I got my mechanic to inspect it with him. They nearly had a punch up:D as their inspector tried to claim that the car was never serviced etc etc. They also checked the service history with a fine tooth comb because one of the conditions of a HP agreement is that the car is maintained properly. If my mechanic hadn't been there they would have tried to reject the hand back or charged me a fortune for the so-called faults. There were a couple of cosmetic faults that I had to get fixed, scratches and a couple of marks on the seats but I did that myself for a couple of quid.
3) It took about 6 months to get rid of the car from start to finish but since I wasn't paying for it I didn't care but obviously the car has to go off the road as soon as you inform them that you terminating the agreement as you no longer own it.
4) When I finally returned the car to the finance company, as it happened to the car supermarket where I bought it, they tried to do another "inspection" and reject it again.....they finally stuffed themselves by their "senior" mechanic coming in and saying loudly (in a public area:eek: ) the suspension is wrecked, it bounces when you press on the boot and oh it won't start.....it was a Citroen with a keypad code start and hydralic suspension....at which point I kicked off big time, in the area they were trying to get people to finalise their purchase, with a very sarcastic lecture how " it would really good if they could learn a little more about the model that they were selling, how they were just acting as an agent for on line who had already agreed to accept the car back and that they would be better concentrating on their business of selling cars rather than behaving in such a manner as they were. I finished off with a general address to all about " that this is way they treat customers, lets hope you never have a problem with your new car" They couldn't get me into an office quick enough:rolleyes: where I rang the finance company and got them to confirm I was only dropping the car back, nothing else. While not everyone is happy to make such a public fuss be aware that will do everything to make it difficult for you so be prepared!Bring someone with you so you have some back up.....the friend who came with me said it was the most entertaining afternoon she'd had in a long time:T

5) Check any paperwork that is going with the car and remove your phone number unless you are happy to be rung by people who are looking over the car prior to auction....I couldn't believe the questions asked...I hadn't had the car for about 4 months before it was sold!!!! Some of them were very odd too;)

6) It won't affect your credit rating as it's just terminating an agreement but check your credit files in a couple of months to make sure the agreement is marked satisfied not defaulted, they have been known to be a bit slack about that.

tupperware

The £271 is most likely the funds required to take it to the half way point of the finance. Keep in mind it is not the half way point in the monthly installments but the half way point as listed on your signed agreement. Ask for a statement of the account and compare the two.

You will also have to pay a fee if the car is to be uplifted so it may be worth your while just taking it to one of their auction sites. They have them all over the country so shouldn't be to much hassle.

homer_j_3

when was the loan taken out exactly - did you get ppi with the agreement?