Buying a car should be an exciting experience. The process of selecting the perfect model, researching different financing options, and finally picking up your new vehicle can make you feel like you’re on cloud nine. Unfortunately, for many people, this feeling is quickly replaced with disappointment when they realize that Black Horse Finance has mis-sold their car finance deal. Find if you’re eligible and explore your options today.

Who Are Black Horse Finance?

Black Horse Finance offers a variety of finance options for different types of products. They offer car finance, Personal Contract Purchase (PCP), lease purchase, hire purchase, and personal loans. They also offer financing options for motorcycles, boats, caravans, and motorhomes. Their products vary to suit the needs of their customers and their budgets.

What Is a Mis-Sold Car Finance Claim?

Buying a car has always been a significant investment for most people. However, with the introduction of car finance, ownership has become more accessible. While most people buy their vehicles through car finance, not everyone understands the complex terms and conditions of this arrangement.

Unfortunately, some car dealers and lenders exploit some customers and mis-sell car finance.

Customers can file Black Horse Finance car finance claims if a car dealer, finance company, or a broker provides customers with car finance policies without adequately explaining the terms, conditions, and fees associated with it, leading to hidden and undisclosed commissions. 

Car finance can also be mis-sold when a customer is offered a policy with an incorrect rate or a policy that does not align with the customer's needs and budget. Other means of mis-selling car finance include misrepresentation of terms and coercion for customers to take policies they don't need.

How Could Black Horse Finance Have Mis-Sold My Car Finance Agreement?

One of the most common ways Black Horse Finance mis-sold car finance agreements is through pressure selling. This involves the salesperson putting undue pressure on you to sign up for the agreement, even though you may not fully understand the terms and conditions. They may have told you that you need to sign up immediately or risk losing the deal or may have offered you incentives that were not explained in full detail.

Representatives of Black Horse Finance are legally obligated to conduct thorough affordability checks before lending money to customers. They should have assessed your income and outgoings to ensure you can afford the monthly payments without it causing financial difficulty. If you were offered a car finance agreement without proper checks being carried out, this could breach their duty of care.

Representatives of Black Horse Finance may have included hidden fees and costs in your car finance agreement without disclosing them. These could include administration fees, early repayment charges, and other additional payments not initially discussed. Another common practice is through Black Horse Finance undisclosed commissions are awarded to salespeople, leaving customers clueless about these incentives. If you were unaware of these fees, you may have a case for a Black Horse Finance undisclosed PCP commission claim.

Before signing up for a car finance agreement, you must understand and agree to the payment terms. Black Horse Finance may have offered you a monthly payment amount that was unrealistic and unaffordable. They may have also offered you a balloon payment at the end of the agreement without properly disclosing the total amount you would have to pay in the long run.

It is also possible that Black Horse Finance agents offered you a finance product that was unsuitable for your needs. For example, they may have offered you a hire purchase agreement when a personal contract purchase would have been more appropriate. Similarly, they may have offered you a finance package that did not align with your budget or borrowing requirements.

How Much Can I Receive for a Black Horse Finance PCP Claim?

The compensation you can receive for a Black Horse Finance mis-sold PCP claim will depend on several factors, such as the car's value, the amount you've paid so far, and the length of the agreement. Typically, if you've paid more than half of the car's value, you will be entitled to a refund of the difference between what you've paid and the car's current value. Alternatively, you can surrender the car and walk away from the agreement without further payments. If you've paid less than half the car's value, you may only be entitled to a partial refund or walk away without further payments.

Another factor that can influence your Black Horse Finance car finance compensation is the agreement's length. The longer the contract, the more money you will have invested in the car, and the more money you may be entitled to if you have a valid claim.

How Can I Start My Car Finance Claim against Black Horse Finance?

Car finance deals have become so complicated that it's easy to fall into the trap of purchasing agreements that seem to be in your best interest but are not. If you think your car finance contract was mis-sold, you may be entitled to compensation. However, claiming compensation for Black Horse Finance mis-sold car finance can be complicated and sometimes requires experienced legal help. 

We have extensive expertise in handling car finance mis-selling claims. Our panel have dealt with a vast range of cases and know precisely what to do to ensure you receive maximum compensation.

We are aware of the tricks that car dealerships and finance companies use to sell car finance deals and can help you identify whether you were mis-sold or not. Our expert panel of lawyers will assist you throughout the process and ensure you get the maximum compensation you deserve.