Black Horse Personal Loan

[ferrit777]

Hi, i am first time user to this site. I Brought a car from Black Horse Cars Sales in the midlands. when i got it they told me that i could have it on a personal loan basis that has better interest than HP and I am able to sell the car whenever i like. I went to sell to a dealer only to find out it's on the HPI thingy. I spoke to black horse and they said Yes i can sell but any money from sale is there's. So to me i have a HP not a personal loan as my paper work says? Is there any thing i can do as i would like to sell my car now?
Thanks Jon

[Rob2629]

Hi
Interesting that they should say that to you, I think if you approach them again, and inform them that you have a personal loan which you wish to carry on even though you wish to sell your car. I would be most suprised if they did not agree to this, especially as they have sold you the finance ona personal loan basis and not on the goods.

[PrinceRainie]

Hi,
Having worked for BlackHorse many years ago, I am not surprised by your confusion as to whether the loans a hp or vice versa.

If they sold you the loan as a loan...and it turned out to be a HP, then you should complain.....adn if you dont get a satisfactory response adn you are tied into te HP agreement due to any potential negative equity.......then take it to the ombudsman.....
They can be cowboys......be careful....

[WoWo]

They did the same to me I had what I thought was a loan but when I tried to sell the vehicle it came back as having HP owing.

I was in the lucky position that I could get the cash to pay off the loan.

I complained but it was all pointless.

[Ricky martin]

Hi friend!
I suggest this forum below and you can post your doubts and questions regarding loans!
Infosands - Join hot forum