Paragon Banking Group PLC began life in 1985 as a specialist residential mortgage lender in the UK. By now they’ve been operating for over 40 years, helping people and businesses access tailored finance solutions.
In 2014 they transitioned into a full banking operation under Paragon Bank PLC, marking a key milestone in their UK banking journey.
They focus on areas they truly understand — for example, motor finance. Their Motor Finance division provides tailored lending for cars, light commercial vehicles, motorhomes and caravans.
At its core, Paragon offers products such as Hire Purchase (HP) and (LP), both designed to help drivers own or upgrade their vehicles in a structured, predictable way. Their finance options sit within regulated boundaries, guided by Paragon’s FCA authorisation and FLA membership, ensuring fair, transparent agreements for every customer.
Why we partner with Paragon
At Carplus, we look for lenders that combine trust, flexibility and speed. Paragon Motor Finance ticks all those boxes. Their products are distributed through trusted brokers and dealers — that means we work directly with their underwriting team to secure quick, sensible lending decisions for our clients.
Paragon allows us to offer no-deposit car finance, high loan-to-value (LTV) limits — sometimes up to 120% of CAP Retail value — and loan terms that fit real-world budgets. These aren’t gimmicks; they’re built into Paragon’s lending framework to make car ownership possible for more people.
And because Paragon’s loans are secured on the vehicle, clients can access fairer rates than unsecured personal loans often provide. This focus on structured, asset-backed lending aligns perfectly with how we at Carplus believe car finance should work — accessible, responsible and transparent.
Regulation and responsibility
When you work with Carplus and Paragon, you’re dealing with fully regulated professionals. Paragon is authorised and supervised by the Financial Conduct Authority (FCA) and a long-standing member of the Finance & Leasing Association (FLA).
These affiliations matter. They mean Paragon follows strict rules about fair treatment, transparent communication and responsible lending. They also participate in wider industry initiatives like theAutomotive 30% Club, reflecting their commitment to diversity and good governance.
For Carplus clients, that translates into peace of mind. You know your finance comes from a lender that values integrity and accountability as much as we do.
What Paragon offers for our clients
Through Paragon, we can tailor car finance that suits everyday drivers, business owners and leisure vehicle enthusiasts alike. Their Hire Purchase and Lease Purchase products let you spread the cost of a car or van, with clear end-of-term options.
They support a wide range of vehicles — from family cars and light commercial vans to motorhomes and caravans — with flexible loan amounts and realistic age and mileage limits. Paragon’s systems allow us direct access to their underwriters, meaning decisions come through fast and our clients get on the road sooner.
And because Paragon’s finance includes features like no-deposit options or balloon payment refinancing, clients can adapt their agreement to match their personal or business cash flow. It’s a modern, flexible approach to vehicle ownership — not a one-size-fits-all deal.
Why Paragon stands out for Carplus clients
Paragon’s strength lies in being specialist, not generalist. They’ve spent years refining products that meet the needs of real drivers — whether that’s financing a used car, a new van, or a leisure vehicle for weekend getaways.
For our clients, that means:
- More choice — multiple vehicle types and finance terms.
- More flexibility — adjustable deposits and balloon options.
- More confidence — fully FCA-regulated, FLA-compliant, and transparent pricing.
- More speed — quick underwriting and same-day commission release through our broker channel.
Meanwhile, Paragon’s focus on fair lending practices and sustainable partnerships gives Carplus clients both confidence and convenience. When we recommend Paragon, it’s because they deliver on the things that matter most — trust, flexibility, and value.
