Available across the market via car dealers and finance brokers, the new, core product range from Paragon Car Finance offers maximum flexibility on a range of key product terms including asset age at the beginning and end of the finance contract, deposit amount, loan duration and final payment.
As well as access to Paragon’s flexible product range, the company says dealers signing up with it can also expect high standards of service with an easy-to-use, online application system; logical, common-sense underwriting; the opportunity to speak directly with our underwriting staff; and simultaneous payment of funds and commission upon loan approval.
Paragon Car Finance loan products are the first product range to launch from Paragon Bank. Established in February 2014, the bank structure means that lending products will be funded via savings deposits ensuring Paragon Car Finance can be consistently and reliably in the market with competitive rates.
Paragon Car Finance products have been designed with the new regulatory framework in mind, helping dealers transition to the new conduct-based regulatory environment.
Julian Rance Head of Car Finance at Paragon Bank said: ‘Paragon is re-entering the £28bn annual car finance market with a competitive and flexible new product range and a strong, service-led proposition.
‘As an experienced lender, I am confident that Paragon will bring new competition and additional liquidity to the market and rapidly establish its credentials for value, service and innovation with dealers, brokers and consumers.’