First Response Finance

First Response Finance: vehicle finance for customers with poor credit

First Response Finance is a British lender specialising in car, van and motorbike finance. With over twenty years of experience, it positions itself as an alternative for people who do not have a perfect credit history, including those with defaults, CCJs (County Court Judgments) or IVAs (Individual Voluntary Arrangements). The company states it has financed more than 300,000 customers and holds an average rating of 4.9 out of 5 on Feefo, with over 2,200 verified reviews, as well as having won the Feefo Platinum Trusted Service Award six times.

Finance products

The offering is divided into four main lines:

• Car finance: for used vehicles, including seven-seater family models, electric and hybrid cars. It also covers cases of poor credit history, CCJs, IVAs, benefit recipients, students or negative equity situations.
• Van finance: for almost any make and model available in the UK, with options for electric vans and self-employed workers.
• Motorbike finance: the company has operated in this segment since 2004, which, according to its own presentation, places it among the longest-standing providers in the country. It covers 125cc motorbikes, electric motorbikes and customers with poor credit.
• Personal loans: the approved amount is transferred directly to the customer's bank account for them to use as needed.

Contract type: Hire Purchase

All loans granted by the company are formalised through a Hire Purchase (HP) agreement. In this type of agreement, the finance is secured against the vehicle itself: the customer pays a deposit (although this is not always required, it depends on the credit limit and the cost of the vehicle) and makes fixed weekly or monthly repayments over an agreed term. Once the payments are completed, the vehicle becomes the customer's legal property. During the term of the agreement, the customer is the registered keeper and responsible for maintenance, with the relevant documents (V5C log book).

The amounts financed range from £2,000 to £15,000, with terms ranging from 18 to 61 months. The company states that, in cases outside that range, it may consider alternatives. It does not charge customers any fees or additional charges.

Application and assessment process

Applicants can obtain an online quote with no obligation and without affecting their credit history, as the initial check is a "soft search". To issue a personalised offer, the company collects basic details such as full name, current address, phone numbers and employment status. The assessment focuses on the applicant's current situation and affordability, not solely on their past history. The company insists that the information provided be accurate in order to adjust the quote.

The company also offers a finance calculator to estimate repayments based on the amount requested, credit rating and desired term. The examples shown on the website include a representative rate of 29.9% APR, with repayments varying by term: 24 monthly payments of £379 (total £9,089), 48 payments of £238 (total £11,413) or 60 payments of £211 (total £12,686).

Dealer network and vehicle search

First Response Finance works with thousands of trusted dealers across the country, which allows it to help customers find the car, van or motorbike that suits their needs. The company does not limit itself to finance: it also provides guidance on locating the vehicle through its network of partners.

Policy on commissions and conflicts of interest

The company states that it has never operated discretionary commission arrangements (DCA) or had exclusive contractual ties with motor dealers that could create a conflict of interest. This position is set within the public debate on commissions in vehicle finance in the UK.

Information resources for customers

The company's website includes an insights and tips section with articles on car and van finance, industry news, company news, credit advice and vehicle maintenance. It also covers comparisons between Hire Purchase and PCP (Personal Contract Purchase), the credit score requirements to finance a car or the need for a driving licence to apply for finance. It also provides answers to frequently asked questions about how HP works, the minimum and maximum amounts, the contract length, the documents required and vehicle ownership during the agreement.