Black Horse Finance Bad Credit – Is It Possible?

Are you wondering if you can get car finance with bad credit from Black Horse Finance? You’ve come to the right place. Over 170,000 people visit our website each month seeking advice on debt solutions.

In this easy-to-understand guide, we’ll explain: 

•  What Black Horse Finance is
•  What to do if you’re worried about your car finance
•  How Black Horse Finance works
•  If it’s possible to write off some Black Horse Finance debt
•  If Black Horse Finance is part of Lloyds

Dealing with car finance payments can be tough, and it’s common to feel unsure about seeking help. In fact, Citizens Advice revealed that 60% of adults facing financial difficulties hesitate to seek assistance.¹

If that’s your case, don’t worry ‚Äî you’re not alone. We’re here to help you know your choices.

Is Black Horse Finance Lloyds?

Yes, Black Horse is part of the Lloyds Banking Group.

You might have clocked on that Black Horse is owned by Lloyds due to its name and similar logo. Lloyds uses the same black horse image in their logo.

Black Horse is part of the Lloyds Banking Group but is entirely dedicated to vehicle financing agreements. 

Can you get accepted for finance with bad credit?

It’s possible to be approved for car finance when you have a bad credit rating.

However, it will be harder to get an HP Agreement compared to someone with an excellent credit score. The important thing to remember is that your credit score isn’t the only consideration taken into account by vehicle finance companies.

If you do manage to get approved for finance with bad credit, you must take into consideration the impact of late payments will have on your credit score.

While you may rectify your mistake and pay your bill, the probability of being approved for more credit in the near future is reduced.

Even if you don’t get accepted for finance with bad credit there are options out there. I recommend looking into bad credit loans and what your options are.

Budget Advice

If you’re struggling with a bad credit score, it’s crucial to change certain habits to lower your expenses and manage your finances effectively.

Here are ten simple budgeting tips:

Can you get Black Horse Finance with bad credit?

Black Horse Finance may still accept your car financing application if you have a poor credit score. However, it all comes down to your complete personal situation.

There is evidence of this on online forums:

‚ÄúI’ve been with Black Horse for over a year now and I’ve had no problems at all. They accepted me and I had a couple of defaults and 1 CCJ.‚Äù

• Blue 2_3 (Money Saving Expert Forum)

Although this forum user doesn’t state they had a poor score, having defaults and a CCJ will have significantly damaged their score. Yet, they were still accepted. 

There are other stories online of people getting rejected with good credit scores but a high level of debt.

This forum user had turned things around and their credit score was above average, but they were still declined. This shows that your credit score is just one consideration for Black Horse.

Can you get a Black Horse finance payment holiday?

Black Horse may consider a payment holiday if it will help you get back on track over the long term.

You should go to your online account and then go to the Help Centre. From here you can click a Money Worries tab and answer some questions about your situation.

Your answers should reveal the ways in which Black Horse and prepared to help, one of which might be a payment holiday.

Can you change your Black Horse finance payment date?

You can change your payment date to Black Horse Finance through your online account. On the menu, there is a “change payment date” option.

Black Horse Finance reviews

Black Horse has over 225 reviews on Trustpilot with a poor rating of 1.9 out of 5 stars. Many reviewers complain about the company’s lacking customer service. Here is a negative and positive review for balance:

“Worse customer service ever and they lie to you all the time talk so much rubbish try to delay ur problems and staff member extremely rude pathetic ppl!! Will never ever use their service again or recommend anyone!”

• Lal Hussain (Trustpilot)

‚ÄúI haven’t had any issues with them. My payment has been taken on time every month. It’s been easy on my online account to make extra payments and settle my balance early, with immediate email confirmation.‚Äù

• R Billington (Trustpilot)

Black Horse Finance Contact Details

Website:	https://www.blackhorse.co.uk/
Phone number:	0344 824 8888
Hours of operation:	Monday to Friday 8:30am – 6:00pm Saturday: 9:00am – 1:00pm
Contact by mail:	Black Horse Finance Customer Services St William House, Cardiff, CF10 5BH

Want to get out of a car financing agreement?

You can get out of a Black Horse financing agreement when you have paid at least 50% of the agreement off.

This is called voluntary termination. You will have to give back the vehicle to Black Horse.

Black Horse Finance bad credit (Quick recap!)

You might be able to get a Black Horse HP Agreement when you have a bad credit history.

Black Horse will make their decision based on your complete circumstances and finances, including existing debts.

References

1. StepChange – Credit safety net report