Jump to content


Photo

Black Horse Finance- Any Good?


  • Please log in to reply
121 replies to this topic

#1 Antony1977

Antony1977

    Over 100 posts

  • Approved Member
  • PipPipPip
  • 390 posts
  • Gender:Male
  • Location:Redditch
  • Towcar:2010 Citroen Grand Picasso 2.0 HDI VTR+
  • Caravan:Adria Sportline DT 6 Berth

Posted 28 April 2013 - 02:56 pm

On the face of it ( havnt done much digging yet) they seem quite good? You can make lump sum overpayments on top of the regular monthly payments without penalty, you can pay it off ( if you have the money!) without penalties, if extra payments are made the monthly payments are re-jigged

What are peoples experiences before i print off the small print?

#2 RobJS

RobJS

    Following his nose.

  • Approved Member
  • PipPipPipPipPip
  • 1,425 posts
  • Gender:Male
  • Location:South Wales
  • Interests:Adventuring and weight lifting.
  • Towcar:VW Tiguan
  • Caravan:Bailey Olympus 530-4

Posted 28 April 2013 - 03:15 pm

I went with these as that is who my caravan dealer uses. Complete rip off. Asked if I could change my payment date to the 1st of the month rather than the middle of the month... Yes, for 30 quid. I did some shopping around and went with first direct who at 4.8% less, we're more than happy to take my business.. They also allow you to make payments at any time to reduce the term and done charge.. Shop around, black horse isn't bad but they weren't flexible with me nor were they good value. My dealer is partly to blame there as they baffled me with figures.. By changing to FD, I have saved over 800 in interest alone! This was last month too so a very recent example.
  • Ter likes this

#3 Steamdrivenandy

Steamdrivenandy

    Random Word Generator aka SDA

  • Moderator
  • PipPipPipPipPipPip
  • 7,941 posts
  • Gender:Male
  • Location:N. Staffs looking over Cheshire in awe and wonder
  • Interests:Steam (GWR King 6024)
    Eribas
    Garden Design
  • Towcar:'60 plate Volvo V70 D3 SE Auto
  • Caravan:2012MY Bailey Pegasus 2 Rimini

Posted 28 April 2013 - 03:34 pm

I used to work for the Contract Hire part of what is now Black Horse Finance. As it's name implies it's the consumer finance arm of Lloyds Banking Group.

 

If my, now out of date, experience is anything to go by all these finance houses have myriads of deals with varying rates and terms, so it's hard to compare them and come to definite conclusions because you could be comparing apples and bricks.

 

Personally I'd never go with a deal offered by a dealer as he'll be taking a kickback and that's why he'll be keen to sell it to you. A personal loan from a dependable lender won't have a kickback built in and will give you flexibility on repayment early. Check out the money websites, or Which? for the latest best buys.



#4 KontikiKid

KontikiKid

    Over 1000 posts

  • Moderator
  • PipPipPipPipPip
  • 4,062 posts
  • Gender:Male
  • Location:Barnsley
  • Interests:Motorhomes, Boeing 757's, HSC's, cross channel ferries

Posted 28 April 2013 - 03:42 pm

Is the loan secured on the item you are purchasing, such as a "log book loan" type, whereby a bill of sale is used and registered at the High Court in London?

 

Look at the Moneysupermarket.com website and compare loan rates etc and terms and conditions.

 

Russell



#5 perksm

perksm

    Over 1000 posts

  • Approved Member
  • PipPipPipPipPip
  • 1,096 posts
  • Gender:Male
  • Location:uk
  • Interests:Caravanning-obviously
    Model Helicopters
  • Towcar:Vauxhall Vivaro Sportive doublecab
  • Caravan:2014 Unicorn 2 Vigo

Posted 28 April 2013 - 03:52 pm

We did Blackhorse Finance and totally regret it One year on we are settling it and moving it somewhere else. The APR changed from the point at which we first looked to when the van arrived! They are too expensive. Personal loan rates have tumbled of late



#6 harvomark

harvomark

    Over 500 posts

  • Approved Member
  • PipPipPipPip
  • 612 posts
  • Gender:Male
  • Location:Birmingham
  • Interests:Caravaning, cars, football

Posted 28 April 2013 - 03:57 pm

From personal experience look at the main banks or on compare websites as you will get a better deal plus will not be secured on the item. But this was a few years back.



#7 Antony1977

Antony1977

    Over 100 posts

  • Approved Member
  • PipPipPip
  • 390 posts
  • Gender:Male
  • Location:Redditch
  • Towcar:2010 Citroen Grand Picasso 2.0 HDI VTR+
  • Caravan:Adria Sportline DT 6 Berth

Posted 28 April 2013 - 03:58 pm

Isnt the APR the same for the duration of the loan from the moment you sign the contract?

#8 Steamdrivenandy

Steamdrivenandy

    Random Word Generator aka SDA

  • Moderator
  • PipPipPipPipPipPip
  • 7,941 posts
  • Gender:Male
  • Location:N. Staffs looking over Cheshire in awe and wonder
  • Interests:Steam (GWR King 6024)
    Eribas
    Garden Design
  • Towcar:'60 plate Volvo V70 D3 SE Auto
  • Caravan:2012MY Bailey Pegasus 2 Rimini

Posted 28 April 2013 - 04:00 pm

Isnt the APR the same for the duration of the loan from the moment you sign the contract?

 

Usually yes, but harvo was saying it altered whilst they were browsing and deciding, I think.



#9 Antony1977

Antony1977

    Over 100 posts

  • Approved Member
  • PipPipPip
  • 390 posts
  • Gender:Male
  • Location:Redditch
  • Towcar:2010 Citroen Grand Picasso 2.0 HDI VTR+
  • Caravan:Adria Sportline DT 6 Berth

Posted 28 April 2013 - 04:02 pm

Ah, twas my wife that saw black horse, i saw sainsburys loan ( nectar card holder) loan at 5.5%. Wont need a loan till the end of the year so will keep an eye out on comparison sites

#10 Gellyneck

Gellyneck

    Tied up in knots

  • Approved Member
  • PipPipPipPipPip
  • 1,995 posts
  • Gender:Male
  • Location:Scotland

Posted 28 April 2013 - 04:03 pm

Suppose it depends on if it's a fixed or variable rate loan.



#11 JanandJay

JanandJay

    Merchandising Ninja

  • Moderator
  • PipPipPipPipPip
  • 2,022 posts
  • Gender:Male
  • Location:Coxhoe, Durham
  • Interests:DIY.
    Lager and Wine
    Motorsport
    The Caravan
  • Towcar:VW Passat R Line TDI DSG Estate 2.0
  • Caravan:Lunar Solaris 1

Posted 28 April 2013 - 04:07 pm

We tweaked our mortgage to buy ours. Far lower inerest rate and we just put in a bit extra to keep on top of it... Saved us a hell of a lot...



#12 perksm

perksm

    Over 1000 posts

  • Approved Member
  • PipPipPipPipPip
  • 1,096 posts
  • Gender:Male
  • Location:uk
  • Interests:Caravanning-obviously
    Model Helicopters
  • Towcar:Vauxhall Vivaro Sportive doublecab
  • Caravan:2014 Unicorn 2 Vigo

Posted 28 April 2013 - 04:14 pm

The part that annoyed me was that authough the deposit and payments were the same from the start, the APR we were quoted was quite low, and thats the bit to use for comparison! It seemed easier to go with Blackhorse than argue over a half percentage point or so. Once your new van has arrived though, and its just a case of the signatures on the paperwork are you going to walk away at that moment? I wish I had been stronger and given back the keys and told them to park it for a day or so whilst I sorted the money myself,but with the van waiting we signed and off we went!



By comparison when I buy my work van I always have new because the Manufacturer gives the best deals. Have had 3 new VW caddy vans in the last few years and their lease purchase deals get better each time I go for a new one. If only the Caravan manufacturers did the same sort of deals we'd all be happy



#13 Surf01

Surf01

    Over 1000 posts

  • No longer a member
  • PipPipPipPipPip
  • 4,489 posts
  • Gender:Male
  • Location:Worcestershire

Posted 28 April 2013 - 05:01 pm

Our previous caravan was with Black Horse and payments were actually in advance.  Due to redundancy we had to sell.  BH had no issue with us selling privately as long as we agreed that we were responsible for all outstanding payments.  sold caravan and paid them and every one very happy.

Just to add that when we had issues with the caravan just after we bought it in 2005 and the dealer was dragging their feet, I contacted BH and within less than a week the caravan was repaired to our satisfaction.



#14 caretakerpete

caretakerpete

    Over 1000 posts

  • Approved Member
  • PipPipPipPipPip
  • 1,055 posts
  • Gender:Male
  • Location:leicestershire
  • Interests:stick makeing,pipe smoking,diy

Posted 28 April 2013 - 05:17 pm

however you finance your van/car,unless you have the cash, you are not buying a caravan,you are buying debt!!!!, so the thing to try and do is to get that "debt" as cheap as you can,there are many,many companies out there who would like your custom,but as with everything its a case of doing loads of reaserch, and "buyer beware", so take advice from where you can,your bank would probably be a good starting point,as you are already a customer and they will do quiet a bit to keep your custom,(money/debt).

 

pete



#15 mdbs

mdbs

    Over 50 posts

  • Approved Member
  • PipPip
  • 77 posts
  • Gender:Male
  • Location:Aylesbury. England

Posted 28 April 2013 - 06:40 pm

I bought a new van for my business through them, as it was for business it was good for tax, which in my opinion is the only time HP is worth the bother, but the van was written off in an accident.

I let them know and as the van was not earning any money I stopped paying subject to the third party's insurance paying up. All ok they said. For about three weeks and then they started with the letters. I could have settled it in full but refused as they were just after the money and not prepared to work with me.

So I made them wait.

Edited by mdbs, 28 April 2013 - 06:41 pm.


#16 Surf01

Surf01

    Over 1000 posts

  • No longer a member
  • PipPipPipPipPip
  • 4,489 posts
  • Gender:Male
  • Location:Worcestershire

Posted 29 April 2013 - 11:52 am

I bought a new van for my business through them, as it was for business it was good for tax, which in my opinion is the only time HP is worth the bother, but the van was written off in an accident.

I let them know and as the van was not earning any money I stopped paying subject to the third party's insurance paying up. All ok they said. For about three weeks and then they started with the letters. I could have settled it in full but refused as they were just after the money and not prepared to work with me.

So I made them wait.

Your agreement was to make the payments on time and it seems you may have neglected to continue paying on time and went into arrears.  The fact that the caravan was written off was of no consequence to them so they were justified in chasing for payments.  This would apply to any financial institution so I am not defending them.



#17 mdbs

mdbs

    Over 50 posts

  • Approved Member
  • PipPip
  • 77 posts
  • Gender:Male
  • Location:Aylesbury. England

Posted 29 April 2013 - 01:24 pm

Well if you took the time to read my post you would see that It was for a van, and  that they said they were happy to wait but then changed their minds in just three weeks (knowing full well because I told them via email which they responded to) that the expected time until me receiving settlement was going to be far longer..

 

I also see no point to your post.


Edited by mdbs, 29 April 2013 - 01:31 pm.


#18 azzy

azzy

    Over 50 posts

  • Approved Member
  • PipPip
  • 64 posts
  • Gender:Male
  • Location:manchester
  • Interests:motorcycles

Posted 09 September 2013 - 11:00 pm

We tweaked our mortgage to buy ours. Far lower inerest rate and we just put in a bit extra to keep on top of it... Saved us a hell of a lot...


Here here done this twice now and by far miles better than any finance deal or loan I could find.

#19 BFM

BFM

    Super star

  • Approved Member
  • PipPipPipPipPip
  • 2,585 posts
  • Gender:Male
  • Location:UK
  • Towcar:BMW X3 35D
  • Caravan:2015 Sterling Continental 580

Posted 10 September 2013 - 12:16 am

No complaints here. I usually take deals out over a year or so more than I intend to keep the vehicle which keeps the cost down.



#20 Grumpy Auld Smeesh

Grumpy Auld Smeesh

    Over 1000 posts

  • Approved Member
  • PipPipPipPipPip
  • 2,897 posts
  • Gender:Male
  • Location:Great Britain

Posted 10 September 2013 - 05:31 am

 Used Black Horse on a few occasions over the years. No issues ........

 

 

                                                                                                              GAS ...... :angry:






0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users