24 March 2020

Payment Holiday Frequently Asked Questions

Q.1 Is there a charge to defer a monthly payment and take a payment holiday?

A. There is no charge to defer a monthly payment. However, please see question 2 for the overall cost implications of taking a payment holiday.

Q.2 Why am I being charged interest when I defer a payment?

A. A payment deferral or payment holiday is technically a contract extension. As such, any deferred payments (1, 2 or 3 months) will be added on to the end of your repayment period and additional interest will accrue on the loan for those extra months. This will vary from customer to customer and will be disclosed once the deferment has been applied for. Black Horse have opted for full transparency regarding these costs.

Q.3 Is the end of contract vehicle valuation affected by the payment break?

A. No, LEVC and Black Horse will honour the existing end of contract vehicle valuation providing all other terms and conditions are complied with.

Q.4 Is my credit rating affected by taking a payment break?

A. No. During these unprecedented times, many financial institutions are working together to assist customers and this will be taken into consideration when you come to change your existing vehicle. Please note, we find ourselves in an exceptionally complex environment so systems and processes are having to be manually adjusted in order to offer the assistance available.

Q.5 Are Blackhorse going to do a blanket 3 month break for all taxi drivers, or only as and when drivers request it?

A. Currently, Black Horse are trying to find an automated way of giving customers a blanket payment deferral. However, in order to give a quick solution to those customers with payments due in the next week or so, they have decided to allow an initial 1 month payment deferral to be activated immediately whilst they try and develop an automated process for months 2 and 3.

Q.6 What happens with up coming payments that are due within the next week or two?

A. As per the latest communication, you can follow the instructions to log onto your Black Horse account and move the payment date back 30 days (1 month). If you have already done this during your current agreement, you will need to call Black Horse to arrange this for you.

Q.7 If customers take the 3 month break is there an option where the customer can spread the payments across existing terms instead off extending term so in other words customers payments will just increase to cover the difference?

A. At the end of the 3 month payment deferral, you can contact Black Horse and discuss rescheduling your agreement to reduce the period by 3 months and increase the resulting monthly payment. We fully appreciate that this is a protracted process but as previously mentioned, we are faced with extraordinary situations that everyone is trying to manage their way through.

For all further questions, please contact Black Horse directly on 0800 151 2454.

24 March 2020

A message from Black Horse on how to defer your payments by one month online

"We understand that customers will be worried about making payments due to the impact of coronavirus on their income so we are implementing special measures to support our customers which we have put into place with immediate effect and until further notice. We are currently able to offer customers the ability to defer their payments by up to 3 months.

We are currently dealing with a much higher volume of calls than normal so this message tells you how you can defer your first payment online by processing a due date change. We will update this message shortly with the options available to you if you are still experiencing financial difficulties when your next monthly payment is due and you need to defer further payments.

If you have changed your payment date in the past, you will not be able to process the due date change on line at the moment so if this applies to you, if you are unable to process a payment date change online for any other reason or if you need any further help or assistance, you can contact Black Horse on 0800 151 2454.

As advised above, we are dealing with a much higher number of calls than normal at the moment so we ask that you only contact us if your enquiry is urgent.

To process a payment date change, you will need to:

  • Log into your account on our website using your date of birth, postcode and agreement number. You can find your agreement number on any correspondence from us or it will be the reference for your direct debit shown on your bank statement.
  • Then select the ‘change payment date’ icon and select a date up to 30 days in the future.
  • You will be then be informed of the amount of additional interest that will be due for deferring your payments. You will also be informed of the date of the next payment.
  • You will need to make the change at least 5 days before your next monthly payment is due."

18 March 2020, Ansty

  • LEVC and Black Horse have agreed to make a payment holiday available to TX cab drivers on existing finance deals
  • Three-month payment suspension in direct response to Coronavirus crisis and its impact on the trade
  • TX drivers can register interest at
  • To ease the impact of the Coronavirus outbreak on the UK taxi trade, a three-month finance payment holiday initiative has been agreed by LEVC and Black Horse and is available nationwide.

    TX drivers on any existing Black Horse finance contract can register their interest for a three-month suspension of repayments by completing their details at below.

    Joerg Hofmann, LEVC CEO, said:

    This is an extremely critical time for the taxi trade and the payment holiday will play a role in softening the impact that Coronavirus is having on taxi drivers. We recognise and celebrate the efforts they make daily to keep Britain moving – and this three-month bridge will hopefully ease the burden drivers now face.”

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