Payment Assist

Payment Assist: interest-free car finance in the UK

Payment Assist is a British company specialising in finance solutions for the automotive sector. Founded in 2013, it presents itself as the UK's leading provider of flexible finance for this sector, with over one million customers served and more than £1 billion in transactions processed. The company operates as part of the Manx Financial Group, with lending provided through Conister Bank.

Its activity focuses on giving drivers the option to spread the cost of repairs, maintenance and other car services into interest-free monthly payments. Its range of plans includes payment options over 3, 4, 6 and up to 9 months, all interest-free. According to published information, some partner businesses also offer longer interest-bearing plans of 12 months or more, depending on the purchase value and the terms of the agreement.

Financial services for the automotive sector

The company offers a range of products covering point-of-sale finance, business lending and card processing. Its model is designed so that garages, dealerships and retailers can offer their customers deferred payment, with the stated aim of increasing conversion, improving customer loyalty and supporting their growth.

Services covered by the finance include repairs, servicing, MOT, tyres, alloys, dents, scratches, respray and electrical work. The company states that its network includes more than 9,000 partner businesses in the UK.

How deferred payment works

The process described by the company begins with finding a partner garage using the customer's postcode. Once the quote is accepted, the user can spread the cost into interest-free monthly instalments. Payments are automatically charged to the same debit card used to set up the plan, so no additional action is required from the customer, provided there are sufficient funds on the payment dates.

The company accepts most UK debit cards, but does not accept credit cards or prepaid cards. Each application is assessed individually and it is possible to have more than one active plan at a time, subject to approval. As part of the process, a credit check is carried out; according to the information provided, this is a soft search that does not affect the applicant's credit score and is not visible to other lenders.

Self-service platform and customer support

Payment Assist provides customers with a self-service platform to manage their account at any time. Through it, users can set up repayment plans tailored to their budget, adjust payments without needing to call and resolve balances with clarity. The platform also includes added-value content for changing financial situations.

Regulation and corporate structure

Payment Assist Ltd is authorised and regulated by the UK's Financial Conduct Authority (FCA), with reference number 622544 in the financial services register, and is registered with the Information Commissioner's Office under number ZA108970. The company acts both as a credit broker and as a lender of regulated credit products. When operating as a broker, it introduces customers exclusively to Conister Bank Limited, a company within the same corporate group. According to published information, Payment Assist does not receive a brokerage commission for these introductions, but is remunerated by Conister Bank through a separate commercial agreement.

The company offers consumer loans and deferred payment credit, both subject to eligibility and affordability assessments. Applicants must be over 18 and UK residents. The company warns that missed payments can affect your credit history, incur late payment fees and make it harder to obtain credit in the future.

Commitment to customers and responsible lending

The company states that Consumer Duty is at the core of its activity and that it aims to be the UK's most trusted provider of point-of-sale finance. Its corporate culture is presented as based on integrity, inclusion and customer care.

On consumer protection, Payment Assist provides information on its website about free and independent debt advice organisations, such as National Debtline, StepChange Debt Charity, Citizens Advice, Community Legal Advice and Money Advice Service. It also reminds customers that if they are unhappy they can make a complaint to the company itself and, if not satisfied, to the Financial Ombudsman Service.

Location and contact

Pera Business Park, Nottingham Road, Melton Mowbray LE13 0PB · Phone: 01664 503151 · Email: admin@payment-assist.co.uk