Black horse finance on SV650s - do i need...

Well as you may have seen ive mentioned that im looking into a Sv1000s, but ive realised that i have another year to go on my finance. Before i can sell it do i have to pay the finance off or does it count as a personal loan?

Cheers for any help,

Nick

With Black horse it is probably secured on the bike (i know mine was).

You can get a settlement figure from the company and settle with the company when you sell it (slightly dodgy) or get the buyer to settle with the company over the phone while they are with you, then give you what is left.

damn


That may put my plans back a little Urg, still got about £1300 left to pay off, the bike is worth £2000 to the shop and the SV1000 is £3500... Oh and insurance upgrade is £240... Hmph means i need about £3000 saved up OR to take out more finance/loan ( i have about £2500 saved up...) Sigh. Money ARG

[G]

Keep the 650 then, sod getting into more debt for a bike.

Even more so if you will only struggle. No point having money tied up in a bike if you cant enjoy it.

Originally Posted by graemepaterson

Keep the 650 then, sod getting into more debt for a bike.

Even more so if you will only struggle. No point having money tied up in a bike if you cant enjoy it.

Suppose so... DAMN IT.

Well guess ill have to wait a little longer before i can do this... Maybe a couple more months than i wanted to. Ill have to wait and see now

To be honest i dont have anything else to spend my money on so thats not a problem i just expected to be able to buy the 1000 outright and pay the 0% finance for the last year... Then be totally free of outgoing

Guess i can still find a place to test ride a SV 1000 to see if i really want one at all.

Originally Posted by Colby

With Black horse it is probably secured on the bike (i know mine was).

You can get a settlement figure from the company and settle with the company when you sell it (slightly dodgy) or get the buyer to settle with the company over the phone while they are with you, then give you what is left.

It probably isn't actually secured on the bike though, legally. My SV was sold to me using a Black Horse personal loan - it even said so on the finance documents, but when I PX'd the bike, I found it wasn't HPI clear, as naughty Mr Horse had put a note on the register saying there was O/S finance on the bike.

I rang BH and played merry hell and they admitted that they do it for all their finance agreements, even unsecured ones. They removed the registry entry for me and 24 hours later my HPI was clear.

In actual fact BH are breaking all kinds of regulations by doing this, but they seem to get away with it for some reason. Worth checking your original finance docs, and then ring them up and shout at them if it says 'personal loan' on them.

[SoulKiss]

Originally Posted by ThEGr33k

Suppose so... DAMN IT.

Well guess ill have to wait a little longer before i can do this... Maybe a couple more months than i wanted to. Ill have to wait and see now

To be honest i dont have anything else to spend my money on so thats not a problem i just expected to be able to buy the 1000 outright and pay the 0% finance for the last year... Then be totally free of outgoing

Guess i can still find a place to test ride a SV 1000 to see if i really want one at all.

Dont forget that the SV1000 is also thirstier so going anywhere will also cost more

Originally Posted by WRCSixtyThree

It probably isn't actually secured on the bike though, legally. My SV was sold to me using a Black Horse personal loan - it even said so on the finance documents, but when I PX'd the bike, I found it wasn't HPI clear, as naughty Mr Horse had put a note on the register saying there was O/S finance on the bike.

I rang BH and played merry hell and they admitted that they do it for all their finance agreements, even unsecured ones. They removed the registry entry for me and 24 hours later my HPI was clear.

In actual fact BH are breaking all kinds of regulations by doing this, but they seem to get away with it for some reason. Worth checking your original finance docs, and then ring them up and shout at them if it says 'personal loan' on them.

Interesting! Im guessing you were on the 0% finance deal? Ill have a check on those details A.S.A.P!

HPI checks, where is the best place to get them? I got HPI.com when i did a quick search a min ago. £19.99 for it)

Was it just customer service that you talked to?


Wonder how much thirstier... I can get 70 MPG with the 650 which is most excellent! So if i can manage 50-55 on a good run from the thou id be happy.

completely know how you feel mate my finance is hanging over on me too
what kicked me square in the balls is that a month later Suzuki introduced the 0% intrest and fully comp for £99 DOH ! !

Originally Posted by lylej

completely know how you feel mate my finance is hanging over on me too
what kicked me square in the balls is that a month later Suzuki introduced the 0% intrest and fully comp for £99 DOH ! !

Ouch that does SUCK! I managed to get 0% so it isnt tooooo bad... I dunno what to do arg... Ill see what the crack is with the finance!