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New business drives Black Horse

Black Horse, one of the UK’s leading motor finance providers and part of Lloyds Banking Group, has reported year-on-year net lending growth of 45 per cent to £6.8billion in 2014, delivering its “strongest year yet”.

Black Horse also added 275,000 new customers across its motor, bike and leisure business during 2014 and says it has continued to invest heavily in its digital offering.

MD Chris Sutton said: “This has provided better finance systems, focusing on swift payments to dealers so that consumers receive their vehicle of choice in a quick and efficient manner.”

The company says 2014 also saw a change in the regulations associated with point of sale finance, prompted by the change of regulator to the Financial Conduct Authority (FCA).

Sutton continued: “Black Horse committed to help its dealers to implement the necessary changes in a way that enhances their point-of-sale finance, and Black Horse also enhanced its own affordability assessment when offering finance to consumers.

“We continue to report strong growth and are proud of the progress we have made in 2014. Our progress has been driven by new business growth, meeting strong consumer demand for new and used cars, bikes and motorhomes, offering competitively priced finance and working closely with both motor manufacturers and our dealer community.”


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