Claim-Smart Limited
We are a PCP claims company that can help you get compensation if you were mis-sold a car finance agreement between 2007 and 2024 against providers, including Black Horse.
We currently focus on the mis-selling of PCP claims against a number of lenders including Black Horse, and so far we have streamlined the process for thousands of UK consumers. If you cannot find your documents, do not worry, we can run a check and find everything for you to see if you are eligible today.
How To Reclaim PCP Finance
STEP 1
Use our online check tool to see if you’re eligible to make a claim against your lender.
STEP 2
If it looks like you may have a valid PCP claim, we will submit one on your behalf.
STEP 3
Wait for the outcome with payments due to start in 2026
STEP 4
If your claim or complaint is accepted, you’ll get the compensation you deserve.
Could you claim compensation from Black Horse?
Between 2007 and 2021, a large number of car finance agreements involved commission structures that were not fully explained to consumers.
When buyers visited a dealership to arrange Personal Contract Purchase (PCP) finance to buy a car, they were often introduced to a lender through the salesperson managing the deal. In a lot of cases, people simply trusted the dealership to put together a fair finance deal, without understanding how the arrangement worked behind the scenes.
Black Horse (owned by Lloyds Banking Group) was one of the UK’s biggest motor finance providers during this period, offering PCP and Hire Purchase agreements through dealerships across the UK.
In some agreements, the dealership had the ability to influence the interest rate attached to the finance package. A higher rate could mean a higher commission payment for the broker or dealer, without the customer’s knowledge.
If you took out PCP car finance but commission was not properly disclosed, or if you paid a higher interest rate without understanding why, you may have grounds to investigate whether your Black Horse agreement was mis-sold and claim compensation.
That’s where Claim-Smart can help.
How can car finance be mis-sold?
Hidden commission linked to interest rates
One of the main issues with mis-sold car finance involved Discretionary Commission Arrangements (DCAs).
This is where a dealership could increase the interest rate offered to the customer in order for them to earn a higher commission. In many cases, the consumer was never told that the dealer had control over the interest rate or that commission was connected to it.
The FCA banned DCAs in 2021 for being unfair, and 70% of valid PCP car finance claims are as a result of them.
Through not clearly explaining commission
Some agreements involved fixed commission structures instead. But even when the interest rate was not adjusted by the dealer, consumers may still not have been told how the finance company and dealership worked together.
This lack of transparency is still a valid reason to receive compensation.
Why are Black Horse PCP agreements being reviewed?
As one of the biggest motor finance companies, Black Horse historically worked with hundreds of dealerships across the UK, helping consumers spread the cost of buying a vehicle through PCP and Hire Purchase agreements.
According to the FCA, around 12.1 million agreements were mis-sold between 2007 and 20241. As one of the country’s largest lenders involved, it’s estimated that Black Horse will be responsible for a significant number of customer complaints.
You may be eligible for compensation if you took out a car finance agreement with Black Horse between 2007-2024 and were not given transparent information about how the commission structure worked.
If the agreement ended years ago, don’t worry. Older finance contracts are still eligible and even if you no longer own the vehicle or can’t find your original documents, you can still check if you’re eligible to complain.
Principal reason for making a claim from a lender
One of the main reasons you may be entitled to redress is that the lender did not fully disclose to you the details of the commission they were paying the person who sold you the car, or the dealer/broker who introduced you to the lender.
You were not informed that you could have saved a lot of money by taking out the loan if you simply went directly to the lender
Other reasons you may have a claim against a lender:
You felt pressured at the time into buying a product or committing to a service
The bank, broker or lender failed to advise you of the financial risks
You were promised something that was not delivered
The bank, broker or lender did not fully disclose details of all applicable charges
What can you do if you were a buyer and potentially affected:
Claim-Smart will act on your behalf to determine if you are owed any compensation.
If we represent your claim for you and you receive compensation, we will charge you
a fee in accordance with our Terms & Conditions. This will never exceed 36%
(inclusive of VAT). If you cancel your agreement with us after the 14 day cooling off
period, we will charge you our reasonable costs for any work carried out on your
behalf. Please see our T&Cs for more information.
However, it is important to note that you do not need to use us or anyone else, to make your
claim or complaint to your lender. You can do this yourself for free. If your claim or complaint is
not successful on the first instance you can refer it to the Finance Ombudsman Service
yourself, again for free.
*We work on a 'No Win, No Fee' basis which means you pay nothing unless your claim succeeds. A fee of 18–36% (including VAT) applies only on successful claims, and a cancellation fee may apply after the 14 day cooling off period.
However, if you choose to make a claim you should be aware that the FCA is currently consulting on a redress scheme, so lenders do not have to make any payment until after the FCA has completed this process. This is currently scheduled to be completed in early 2026 and the complaint handling pause ends 31 May 2026 so we believe payments, if any, from lenders will not start until several weeks after that date.
The FCA periodically issue important statements on vehicle finance mis-selling and discretionary commission arrangements.
For the most current information on regulations and timelines please refer to this link.
How can Claim Smart help you with your claim against Black Horse Finance?
Why Use Us?
No-Win
No-Fee*
We only get paid if your claim is successful. That means there is no cost to you to start checking your eligibility.
Fee %
£1 – £1,499( 30%)
£1,500 – £9,999 (28%)
£10,000 – £24,999 (25%)
£25,000 – £49,999 (20%)
£50,000 or above (15%)
Experienced Claims Specialists
Our team understands the complexity of motor finance agreements, so we can help you get the compensation you deserve.
Help Finding Old Agreements
Many consumers no longer have their finance paperwork, but that’s ok. We can help by guiding you through what details you need.
Straightforward Process
We aim to keep the process simple and easy to follow, without confusing legal jargon.
Ongoing Support
From the initial check through to closing your claim, our team keeps you updated at every stage.
At Smart-Claim Limited we combine innovation with experience to deliver results that matter. Please click on the “Make Your Claim” link below and let us guide you towards a successful resolution for your mis-sold PCP finance agreement.
Frequently Asked Questions
Potentially, yes. If you entered into a PCP or Hire Purchase agreement through Black Horse between 6 April 2007 and 1 November 2024, you may be eligible to complain if commission was not explained to you properly.
No. Claims may still be possible even if the agreement ended years ago or you don’t own the vehicle anymore.
Claims may apply to cars, vans, motorcycles, and other vehicles arranged through Black Horse.
Yes. Many people no longer have copies of their original agreement. The good news is you can start a claim with basic details like the your name, agreement date (this doesn’t have to be exact), or your previous address. That way, the lender may be able to find your agreement themselves.
No. You can contact Black Horse directly if you want to. Some people choose to use a claims management specialist to provide an extra layer of support throughout the process.
If a complaint is rejected, there may still be other options available, including escalating your case through the Financial Ombudsman Service. At Claim-Smart, we can help you assess your options at every stage.
The value of compensation depends on the finance arrangement, how much interest you paid, and how long the agreement lasted. However, the FCA has said average payouts are likely to sit around £829, although every case is different.
No. Smaller finance agreements may still qualify. Eligibility is usually linked to how the agreement was sold rather than the size of the loan.
Currently, the deadline for the FCA redress scheme is 31 August 2027, but due to legal challenges, this is subject to change. However the earlier you file, the sooner you are likely to hear back.
You to make your claim or complaint for free without using a Claims Management Company. If your claim or complaint is not successful on the first instance you can refer it to the Finance Ombudsman Service yourself, again for free.
Claim-Smart Limited, Company Registered in England Number: 12824729
Registered Office: Claim-Smart Limited 91, Wimpole Street, London, W1G 0EF
We are a claims management company authorised and regulated by the Financial Conduct Authority (FCA) that registration is recorded on the Financial Services Register under FRN: 935960
Registered with the Information Commissioners Office under reference number: ZB696380
Our VAT number and insurance details are available upon request.
We aim to be inclusive and offer an accessible service Please contact us if you require this information in another format. If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email info@claim-smart.co.uk Please tell us what format you need. It will help us if you say what assistive technology you use.
Phone: 020 3307 5218
Opening Hours: Mon-Friday 9AM-6PM (applications can be made anytime)