What is car finance?
Black Horse car finance helps you spread the cost of a new or used car. Instead of paying the full cost of the car upfront, you would typically pay a deposit and make monthly repayments which include any interest payable, over an agreed term.
Black Horse buys the car on your behalf and you will become the owner of the vehicle once the final repayment including interest has been made.
Our finance products
The dealers that we work with may offer a range of finance products.
Each of our finance products works slightly differently. Our products and the differences between them are explained in more detail below.
Further information is also available in our product guide (PDF, 3.7MB). You should read this guide to help you decide which product is right for you. Alternatively, why not watch our Finance Product Videos which can be found below.
All lending is subject to status checks and an affordability assessment.
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Key customer information |
Hire Purchase (HP) |
Personal Contract Purchase (PCP) |
|---|---|---|
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Key customer information New and used vehicles |
Hire Purchase (HP)
|
Personal Contract Purchase (PCP)
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Key customer information Length of agreement |
Hire Purchase (HP) From 1 - 5 years |
Personal Contract Purchase (PCP) From 1 - 4 years |
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Key customer information Deposit required |
Hire Purchase (HP)
£0 deposit may be available |
Personal Contract Purchase (PCP)
£0 deposit may be available |
|
Key customer information Fixed monthly repayments |
Hire Purchase (HP)
|
Personal Contract Purchase (PCP)
|
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Key customer information Optional final payment |
Hire Purchase (HP) - |
Personal Contract Purchase (PCP)
|
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Key customer information Maximum permitted age of the car at agreement end |
Hire Purchase (HP) Typically 14 years |
Personal Contract Purchase (PCP) Typically 7 years |
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Key customer information Ownership at agreement end |
Hire Purchase (HP)
|
Personal Contract Purchase (PCP)
After optional final payment is paid |
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Key customer information End of contract goods return option |
Hire Purchase (HP) - |
Personal Contract Purchase (PCP)
Return conditions apply |
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Key customer information Mileage and condition restrictions/charges (if you exceed agreed mileage or the vehicle is not in good condition upon return) |
Hire Purchase (HP) - |
Personal Contract Purchase (PCP)
Charges apply if you return the vehicle |
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Key customer information Voluntary termination |
Hire Purchase (HP)
Return conditions apply |
Personal Contract Purchase (PCP)
Return conditions apply |
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Key customer information Early settlement option |
Hire Purchase (HP)
|
Personal Contract Purchase (PCP)
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Key customer information Fully comprehensive insurance required |
Hire Purchase (HP)
|
Personal Contract Purchase (PCP)
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Key customer information Ability to amend monthly payment due date |
Hire Purchase (HP)
Once every 12 months |
Personal Contract Purchase (PCP)
Once during the agreement |
Our finance product videos
Our finance product videos explain the finance products available from Black Horse.
Watch the videos to help you decide which product is right for you.
Hire Purchase (HP)
