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Is Lloyds Black Horse finance the best? All the dealers I visited used them

Is Lloyds Black Horse finance the best? All the dealers I visited used them
~ Colin from Luton.

Hi, it is debatable whether they are the best market choice, but they are certainly one of the most well known car finance lenders. Their owner (The Lloyds Banking Group) is of course one of the Big Four banks. This specific brand at www.blackhorse.co.uk was formed in 2001, but their roots go back as far as the year 1922. It is no big surprise that the dealers that you visited used them, since they have grown a massive dealer network across the UK of over 5000. They serve around 200,000 customers each year for mostly used cars. Caravans and motorbikes are other markets for them. The Black Horse finance covers Hire Purchase and there is Ultimate Plus where payments work around your annual mileage. Finally, there is a Personal Loan package. The financing options require a deposit of 5% or above and so this loan option may be better suited to avoid this. They offer up to £25,000 over 60 months max. You must head to a dealer to use them since they don’t take applications via www.blackhorse.co.uk. There is a Black Horse login here though once you join up. The APRs are not disclosed, but these usually range between 6% and 12% with good credit. You would be looking in the mid-40s if you do have a bad credit history. It is good that they at least accept bad credit since their banking rivals (Barclays and Santander) wouldn’t do this. Reviews have tended to be mixed over the years. The well known PPI complaints didn’t do their profile any favours at the time.

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