Black Horse Car Finance Claims: Everything You Need to Know

Black Horse, the car finance arm of Lloyds Banking Group, is one of the most widely used car finance providers in the UK — and one of the lenders most prominently named in relation to the ongoing mis-selling scandal. If your finance was provided by Black Horse, here is everything you need to know.

Who Is Black Horse?

Black Horse is a trading name of Lloyds Bank plc and is one of the largest motor finance providers in the UK, funding millions of car purchases through dealerships over the past two decades. Because of this scale, Black Horse features heavily in the FCA’s investigation into discretionary commission arrangements.

What Has Lloyds Said?

Lloyds Banking Group has set aside over £450 million in provisions to cover potential car finance redress — one of the largest provisions made by any UK bank in relation to this issue. That figure has been revised upwards as the scale of potential liability has become clearer.

Am I Eligible If My Finance Was Through Black Horse?

You are likely eligible if your Black Horse agreement was a PCP or hire purchase deal arranged through a dealership before 28 January 2021. The key test is whether a discretionary commission arrangement was in place — which was standard practice across the industry during this period.

What If My Complaint Was Previously Rejected?

Many customers who complained to Black Horse directly received holding responses or rejections before the Court of Appeal ruling. If your complaint was previously turned down, that decision may need to be revisited in light of the new legal position. You are not prevented from pursuing a fresh claim.

What Should You Do Now?

The most important step is to register your interest before deadlines are set by the FCA. Check if your Black Horse agreement qualifies — it takes just a couple of minutes and could be the first step towards thousands of pounds in compensation.