Asset Finance


Consumer Finance


Motor Finance


Consumer Information

FLA members come from the asset, consumer and motor finance sectors of the economy. In this part of the website you will find useful information for customers with loans or motor finance agreements. However, if you need information about asset finance or leasing, look at our dedicated Business Finance pages. 

Members of the FLA’s Consumer Finance Division offer several different types of credit:

Type of Consumer Credit Products:

Secured loans are personal loans where the lender has some rights over the customer’s assets if the loan is not repaid. An example is second charge mortgages. Some customers use such loans to consolidate debts at lower repayments which can be made over a longer period.

Unsecured loans are personal loans where the lender does not have any rights over the customer’s assets and are often used for home improvements.

Credit cards and store cards offer consumers a very flexible and convenient way of accessing credit, with the option to pay the lender back immediately or over time.

Store instalment credit is typically used to purchase electrical goods, furniture and furnishings. Payments are usually monthly, and may be interest free or follow a deferred start.

Motor finance is finance obtained through a car dealership. This can be a lease deal, Personal Contract Purchase, Hire Purchase or an unsecured loan from the dealer. Under most motor finance deals, the finance company will own the car until the last payment is made. The secured nature of the finance allows motor finance companies to offer good deals on finance.

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