UK-based automotive finance provider Payment Assist has surpassed £1 billion in customer transactions since launching in 2013, highlighting growing consumer demand for flexible payment solutions in the vehicle maintenance sector.
The company, which operates as a subsidiary of Manx Financial Group, provides interest-free finance for vehicle repairs and servicing through a network of more than 8,000 garages, workshops, tyre fitters and dealerships across the United Kingdom. Its platform enables motorists to spread the cost of essential vehicle expenses into monthly instalments, helping reduce the immediate financial pressure associated with unexpected repairs.
Payment Assist’s financing solutions cover a broad range of automotive services including MOTs, routine servicing, tyres and urgent repair work. The company has positioned itself as a specialist provider within the automotive aftercare market, particularly as rising living costs continue to influence consumer spending behaviour across the UK.
The milestone comes amid ongoing concerns around vehicle affordability and road safety. Industry figures referenced by the company showed that thousands of vehicles failed MOT inspections during 2024, while a significant number of motorists faced prosecution for driving unsafe vehicles, reinforcing the growing need for accessible repair financing options.
Management described the achievement as a reflection of sustained customer demand and the company’s long-term expansion strategy within the automotive finance sector. The business has steadily expanded its partner network and consumer reach over the past decade as dealerships and garages increasingly adopt embedded finance solutions to improve customer retention and service conversion rates.
What this means for the industry
- Interest-free embedded finance is becoming increasingly important in non-discretionary spending categories such as vehicle maintenance.
- Automotive service providers are using financing tools to improve repair conversion rates and reduce deferred maintenance.
- Rising living costs are accelerating demand for short-term consumer finance products tied to essential services.
- The milestone reflects broader growth in embedded lending models outside traditional retail and e-commerce sectors.
- Specialist lenders focused on niche verticals such as automotive servicing continue to see expansion opportunities across the UK market.
