Introduction
Blackhorse Finance is one of the UK’s leading car finance providers, but many of its customers may have unknowingly been mis-sold finance agreements. If you believe you’ve been affected, this article will guide you through identifying mis-sold finance, filing a claim, and obtaining the compensation you deserve.
If you want a quick summary on mis-sold PCP, have a read of our article here.
Common Issues with Blackhorse Finance Agreements
Several practices have been reported regarding Blackhorse Finance, including:
Undisclosed Commission Fees:
Dealers often received significant commissions without informing customers.
Lack of Clarity on Terms:
Key financial details, such as interest rates and early repayment penalties, were not always properly explained.
Unsuitable Agreements:
Finance agreements were sometimes offered without proper assessment of the customer’s financial circumstances.
How to Identify Mis-sold Car Finance from Blackhorse
- You weren’t informed about dealer commissions.
- Your agreement included hidden fees or unexplained charges.
- You were pushed into a deal that didn’t match your financial situation.
Steps to Make a Claim Against Blackhorse Finance
What Compensation Can You Expect?
- Refunds of excess interest and fees.
- Adjustments to outstanding balances.
- Compensation for financial losses due to mis-selling.
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Frequently Asked Questions
Blackhorse Finance is a UK-based car finance provider, offering various products including hire purchase and PCP agreements.
Look for undisclosed commissions, unclear terms, or unsuitable financing based on your financial situation.
Provide your finance agreement, communication records, and any documents showing undisclosed charges.
Yes, you can claim for mis-selling even if your agreement is fully repaid, as long as it falls within the eligible timeframe.
Claims typically take a few months, depending on the complexity and response time from Blackhorse and the Financial Ombudsman. According to some newspapers, it could drag on until December 2025.
