Black Horse Finance Claims
Important Information
Fairweather Group Ltd (t/a ClaimExperts.co.uk) is a Claims Management Company regulated by the Financial Conduct Authority (FRN: 935899). We do not provide legal advice - your claim will be handled by an SRA-regulated law firm. You can claim for free, either directly or via the Financial Ombudsman Service. No Win No Fee fee: up to 36% (inc. VAT). You can cancel within 14 days at no cost, but cancellation fees may apply after this period. Eligibility and claim outcomes depend on your individual circumstances and a proper investigation. We receive a fee after a successful payout or a referral fee from your solicitor and this does not affect the compensation you will receive.
If you had a car finance agreement with Black Horse Finance, you may be eligible to make a claim for mis-sold car finance. This typically relates to undisclosed commission or a Discretionary Commission Arrangement (DCA) where the interest rate was increased without your knowledge so the broker or dealer could earn more commission.
You can check your eligibility online in minutes. No paperwork is needed to start.
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?
A mis-sold car finance claim may apply if you had a Discretionary Commission Arrangement (DCA) as part of your agreement and were not told about it.
DCAs were common in the motor finance industry until 2021. They allowed car dealers or brokers to increase the interest rate on your finance deal — such as a PCP or Hire Purchase agreement — in order to earn more commission from the lender. The higher the rate they set, the more they were paid. In most cases, this was not disclosed to the customer.
This lack of transparency may have resulted in you paying significantly more than necessary over the term of the finance agreement. The Financial Conduct Authority (FCA) has confirmed it will consult on a redress scheme to compensate consumers affected by DCAs, with payouts expected to begin in 2026.
If your finance was arranged through Black Horse Finance or another provider and involved a DCA that was not properly explained, you may be entitled to claim compensation.
You can check your eligibility for free, and no paperwork is needed to start the process.
The Key Facts Of Mis-Sold Car Finance
Huge Amounts Of Commission
The FCA has found that sales commission was paid on 95% of car finance agreements they analysed. 40% of these used the Discretionary Commission Arrangements.
Over Payments On Deals
They estimate that on a typical car finance agreement of £10,000, the customer paid around £1,100 more in interest than they should have.
Costing Customers Millions
This could have been costing customers a combined £300m annually.
Commission Model Now Banned
The Increasing Difference in Charges (DiC) commission model was banned by the FCA in January 2021.
Could Be Billions Owed
Experts are suggesting this mis-selling scandal could cost lenders £18bn.
Claims Relate To Hidden DCA
Claims relate to specifically to Discretionary Commission Arrangements that could have been charged to you without you knowing.
How Could Black Horse Finance Have Mis-Sold My Car Finance Agreement?
One of the most common ways Black Horse Finance may have mis-sold a car finance agreement is through the use of a Discretionary Commission Arrangement (DCA). This type of arrangement allowed car dealers or brokers to adjust the interest rate on your finance deal, such as a PCP or Hire Purchase agreement, in order to increase their own commission.
The higher the interest rate you were charged, the more commission the dealer earned. In most cases, this was not explained to the customer, meaning you may have agreed to a deal without understanding that your interest rate was inflated for the benefit of the broker or dealer.
If you took out a car finance agreement through Black Horse Finance before 28 January 2021 and were not clearly informed about how commission was being earned, your deal may have been mis-sold. The Financial Conduct Authority (FCA) has confirmed that it will consult on a redress scheme to cover DCA-related complaints, with compensation expected to be paid from 2026.
You may be eligible to make a claim if your interest rate was set under a DCA and this was not properly disclosed to you.
How Much Can I Receive for a Black Horse Finance PCP Claim?
If your Black Horse Finance agreement included a DCA and was mis-sold, compensation may be based on the difference between the interest rate you were charged and the lowest rate you could reasonably have been offered.
The FCA is still finalising how redress will be calculated, but it has stated that most consumers are likely to receive under £950 per agreement. However, the exact amount will depend on the terms of your agreement, the interest charged, and how long the finance ran for.
How Can I Start My Car Finance Claim against Black Horse Finance?
If you believe your Black Horse Finance agreement included a DCA and the commission was not properly disclosed, you can register your claim now.
You do not need paperwork to begin. By entering a few basic details, we can check whether your agreement is eligible and bring up all relevant finance arrangements. Your case will be handled by a panel of SRA-regulated solicitors on a no win, no fee basis.
You can start the process online in minutes.
Important Information
Fairweather Group Ltd (t/a ClaimExperts.co.uk) is a Claims Management Company regulated by the Financial Conduct Authority (FRN: 935899). We do not provide legal advice - your claim will be handled by an SRA-regulated law firm. You can claim for free, either directly or via the Financial Ombudsman Service. No Win No Fee fee: up to 36% (inc. VAT). You can cancel within 14 days at no cost, but cancellation fees may apply after this period. Eligibility and claim outcomes depend on your individual circumstances and a proper investigation. We receive a fee after a successful payout or a referral fee from your solicitor and this does not affect the compensation you will receive.
Ready To Get Started?
ClaimExperts.co.uk provides a free educational service to the public, and connects potential claimants with legal firms operating on our panel. For Car Finance Claims, we use our sister website, claim.co.uk.
Our panel of legal firms all:
- Operate on a No-Win, No Fee Basis
- Require No Upfront Fees
- Can Find All Car Agreements In Minutes
Start your claim today by completing the quick enquiry form on claim.co.uk.
ClaimExperts.co.uk - We Are Here to Help You
Our mission is to provide comprehensive claim guides for multiple claims, and connect you with expert legal firms.
Our Most Popular Claim Guides
Important Information:
Fairweather Group Ltd t/a ClaimExperts.co.uk do not give legal advice. You do not need to use a claims management company to make a claim. You have the right to use the relevant Ombudsman to seek redress for free. More information on your particular Ombudsman can be found on our Terms & Conditions. You can also seek legal advice elsewhere.
The No Win No Fee Success Fee is based on which expert panel member we refer you to and is payable to them. Our panel currently consists of a number of law firms, which can also be found on our Terms & Conditions. The No Win, No Fee varies, but is generally between 25%- 50%+VAT.
There may be a termination fee if you cancel your claim with a panel member after the cooling-off period. We are paid a referral fee by our panel members for a successful introduction. Fairweather Group Ltd will not charge you for our service.