Paragon Car Finance
- Paragon Bank are a UK based provider of Hire Purchase and Lease Purchase Agreements
- Find out if you're eligible for Car Finance with Paragon by using our easy online comparison powered by Motiv Finance
- Quick, simple form – see your results in just a few minutes
This car finance eligibility service is provided by Motiv Finance.
When you click Check my eligibility, you will be directed to Motiv who will help you find personalised finance deals. The data you supply will be directly submitted to Motiv and be used to generate loan quotes from Motiv's panel of lenders.
Paragon Car Finance FAQ
Who are Paragon?
Paragon Bank is a specialist lender founded in 1985. They launched their motor finance products in 2014, catering for personal cars, light commercial vehicles, caravans, and motorhomes. Paragon is based in Solihull in the West Midlands, and aims to offer finance solutions to help drivers get a deal that best meets their requirements.
What car finance is available from Paragon?
Paragon offers car finance products, including Hire Purchase and Lease Purchase.
With both these options, you would essentially be hiring the vehicle as you would not be the owner of it. If you have a Hire Purchase agreement, you will only own the vehicle after all payments have been made (including the option to purchase fee), and with a Lease Purchase you will only own the vehicle if you make the balloon payment at the end of the term.
Paragon can refinance the balloon payments.
How much car finance can I borrow from Paragon?
Loan amounts from Paragon vary considerably, with smaller loans more suitable for cheaper cars available, well as much larger sums. The amount you receive, and the term of the loan, will depend on the car you plan to purchase as well as your financial profile. A deposit may be required in some cases, but not always.
Who is eligible for Paragon car finance?
Individuals aged between 21 and 80 can apply for Paragon car finance.
To be eligible for finance from Paragon, cars should not exceed Paragon’s maximum mileage limit or their age limit. The limits may vary between Hire Purchase and Lease Purchase agreements.
Paragon will only finance cars that are from reputable dealers, who will need to be approved by the FCA.
How will Paragon make a decision on an application?
Paragon will look at your credit score as well as any other relevant information to make a decision. They will want your personal and financial details, such as your address, employment status, and income.
Paragon will also ask for details of the car you want to purchase.
Is Paragon trustworthy?
Paragon Bank is authorised and regulated by the Prudential Regulation Authority and the Financial Conduct Authority.
Services offered by this provider may change over time. Always check Ts&Cs.