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Comment: A commitment to supporting dealers

Last month Black Horse restated its commitment to supporting dealers with point of sale (POS) finance products, when we announced details of our new, enlarged structure, which absorbs the Bank of Scotland Dealer Finance business. 

Ever since LloydsTSB and HBOS came together at the start of the year to create Lloyds Banking Group, there has been speculation about the changes this would bring. 

I am pleased that we are now in a position to reassure dealers about the future of our motor and leisure finance business, by confirming that Black Horse will become the group’s sole brand for POS dealer finance.

This move underlines our commitment to the market and the combined business will be bigger than either business was individually.

We now have a real opportunity to cement our already well established relationships and forge new ones, to help dealers maximise their point of sale finance income.

As the leading provider in the market, we will be working with more dealers than ever before, and we expect the next few months to be incredibly busy, as we transfer dealers who were previously with Bank of Scotland Dealer Finance over to Black Horse.

By drawing on our combined expertise and taking the best from both businesses, we will be able to support dealers even more effectively in these difficult times.

For the vast majority of Black Horse dealers it will be business as usual. 

We aim to make the transfer process for those dealers switching over as smooth as possible, to minimise any disruption to their businesses.

As I’ve said in previous months, confidence is the key to encourage the public to begin spending money on big items again. Hopefully, the new scrappage scheme will have a positive impact on sales. 

With our support, dealers can also smooth the payment process for customers by offering finance from the largest and most secure independent provider of motor finance in the UK. 

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