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Edwin Miles. Underwriting Manager

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Default with Black Horse - Can you get me car finance?

I have a current default for £5000 with black horse. I have no guarantor, no deposit and i am self employed.

I do have 2001 "Y" plate 206 GTi as part exchange. Can you help?

Posted by Kevin on


Hi Kevin, there is a small possibility that we'll be able to help you but as you most probably already know you won't get approved with Black Horse again.

However, there is light at the end of the tunnel as we do have lenders that help people with past defaults get car finance. We can also help self employed applicants as long as you can get 3 months bank statements proving your income. Lastly, a guarantor isn't required and your part exchange can be used as full deposit so this is good news.

Please make an application and if approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Edwin

Posted by on

Rate Edwin’s advice.

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Hi, I've got two defaults with my old bank however, its been a while now and they are both due to come off this year. One was for £30 and the other for about a £100 but they are both settled now in 2008.

Do you think Black Horse will give me a loan since its been a while since I've had them? I've got credit cards and stuff which I pay on time if that helps. Thanks

Posted by Neal on


Hi Neal, as the defaults were from 2008 and they were for very small amounts and due to the fact that your current credit is up to date i'm reasonably confident that we'll be able to get you approved for car finance.

Please make an application when you have considered your options and if approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Edwin

Posted by on


I've finance with Black-horse but from April 11th 2012 I've been having lots of problems with the car and need to get rid of it.

Blackhorse say that I will need to reapply for a new finance agreement if I change, however due to the IVA this is probably unlikely. If I stop my payments to Blackhorse will they just repossess the car or what will happen?

Posted by Rachel on


Hi Rachel, it sounds like you're in a sticky situation. If you stop making your payments BlackHorse will repossess your car from you but this will leave a very negative mark on your credit profile. I strongly advise that you try and keep up your repayments at this stage.

However, i also understand that you don't want the car due to its poor condition but if you try and part exchange it in and get car finance again you may well be declined. My honest advice would be to save up the cash to buy a cheap run-around and part exchange the car in at a local dealership who could settle the existing finance for you as long as you're not in too much negative equity.

On second thoughts are you over 50% of the way through your agreement with Blackhorse? If so, you may well be able to voluntary terminate your agreement. This means you can just hand your car back but please read your agreement and perhaps seek some advice first as there could be charges if your car isn't in a good condition. Kind Regards, Edwin

Posted by on


I have 3 defaults on my credit report - all from Orange, two of them are paid and settled, the other was closed in 2009. The two settled are basically the closed account sold off to two debt collection companies which i have paid.

My problem is due to these marks i cant get credit or car finance anywhere. I have a credit card that i use and pay in time despite not needing it and have always been in employment with excess of £24,000 per annum so why wont anybody lend me? Also my defaults altogether don't exceed £1000!

Posted by Rob on


Hi Rob, there is a chance we can help as you have a good income and your defaults are settled. Where have you applied recently and been declined?

Please make an application and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Edwin

Posted by on


Hi there, I defaulted on a £1250 student overdraft in January 2013 which I am currently paying off monthly.

Will this completely destroy my chances of getting car finance? I have just started a graduate job which I earn over £20K per annum and all my other accounts are up to date.

Posted by Conor McClelland on


Hi Conor, thank you for your question.

The good news is that we do have lenders on our panel that help customers with past defaults get car finance. There's no guarantee at this stage of course but as you're now employed with a good income we do have a chance.

Please make an application when you're ready and if approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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Posted by Victoria Ashford on

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