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Motor finance
How much can a customer can borrow?

The minimum amount a customer can borrow is £2,500

The maximum amount a customer can borrow is £150,000

What is the minimum loan term?

The minimum loan term is 12 months.

What is the maximum loan term?

The maximum loan term is 60 months.

How can payments be made?

Payments should be made by Direct Debit - the Direct Debit form must be completed as part of the online application.

When will I get a decision on my proposals?

Instant automated decisions – Accept or Decline - are provided, following completion of the application process. If the case is referred for manual underwriting, we promise to get back to you within two working hours of receiving the application.

What happens if customers are declined?

You can call us on 0345 149 7777 or email us at mfservicing@paragonbank.co.uk to request a case review by an underwriter.

I am unable to log onto the application system, what do I need to do?

Please call us on 0345 149 7777 and we will be happy to help you.

Do you accept weekly payments?

No, payments must be paid monthly by Direct Debit.

How do customers get a settlement figure?

They can call our Customer Servicing Team on 0345 149 7770. We are happy to help.

When and how will I get paid?

Completed documents received by 12 noon, will be paid out on the same day. You will receive your payout funds and any commission due electronically.

How will I know I have been paid?

Once we have made your payment, you will receive an email to confirm the payment details.

Do you accept provisional driving licences?

No, we only accept full UK driving licences.

Can a customer change their payment date?

Yes, depending on the type of agreement they have, they can change their payment date annually by calling our Customer Servicing Team on 0345 149 7770.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551