In these difficult times we are focused on continuing to provide both our dealers and customers with the service they have come to expect. By moving our entire workforce to work remotely, we are confident that we can continue to support our customers and business partners, while keeping our staff and their families safe.
We pride ourselves on being understanding when helping ALL customers who are experiencing financial difficulties, and we would also like to reassure anyone that is worried, that we will do what we can to help.
Our approach to providing, exceptional and immediate support to customers facing payment difficulties due to coronavirus (COVID-19), is for a temporary period only. It is intended to help those who might be having temporary difficulty in making their payments due to a loss of or reduction in their income or income of other members of their household.
Like many firms we’re seeing an increase in the numbers of customers contacting us, and so our response times may be longer than usual. Therefore, we would encourage you read the following FAQ’s before contacting us.
I am worried that my income may change, can you help?
If you have not yet been affected by the coronavirus (COVID-19) or you can still afford your normal payments, we would recommend that you continue to make those payments. While we have a variety of flexible options for customers who have been financially affected, each may have consequences for the customers that take them – and so should only be considered by those in financial difficulty.
If your circumstances have changed and you are no longer able to afford your normal repayments, please do contact us to speak to our Account Management team. They will need to understand your situation, go through the various options open to you and then agree what’s best for your individual circumstances.
We have also included the link to the Money Advice Service below which provides a range of really useful information for the many different circumstances you could currently find yourself in as a result of coronavirus COVID-19.
What is First Response Finance doing to help customers in need?
First Response is committed to helping our customers through this difficult period. By moving our entire workforce to work remotely, we are confident that we can continue to support our customers, while keeping our staff and their families safe.
We appreciate that those affected will be concerned and we are here to help those who have been financially affected by the coronavirus (COVID-19).
If your circumstances have changed, and you are no longer able to afford your normal repayments, please contact us to speak to our Account Management team. They will need to understand your situation, go through the various options open to you and then agree what’s best for your individual circumstances.
I have been financially impacted by coronavirus (COVID-19), can I stop paying?
A Temporary Payment Deferral may not be the best option for everyone and will have consequences for your future repayments.
Customers should think carefully before making use of these measures and only do so if they need immediate help. Where they can still afford to make payments, they should continue to do so.”
Christopher Woolard, interim Chief Executive at the FCA
However, if your finances have been badly affected by coronavirus (COVID-19), you should contact us about various options we have to help you. Our Account Management team will need to understand your situation to be able to go through the various options, and then agree what’s best for your individual circumstances.
If you do qualify for a Temporary Payment Deferral and it is granted, you can be assured that this arrangement will not result in arrears building on your credit file.
While we won’t put any penalty fees or charges on your account for late payments, you need to know that a successful Payment Deferral may mean you pay more for your loan, as the agreement now lasts longer (and you will be paying interest for longer) than the original term.
Once your financial circumstances have improved, we will look to work with you in order to find the best option to bring you back up to date with any payments you may have missed and minimise the effect of the deferral on your agreement.
What happens if I can’t make my payments – for reasons separate to coronavirus (COVID-19)?
As always, please contact us, this way we can understand the issues you are facing and support you accordingly.
We pride ourselves on being understanding when helping ALL customers who are experiencing financial difficulties and we would also like to reassure anyone that is worried, that we will do what we can to help. We don’t charge late interest or payment fees, so how much you owe won’t go up, but you need to know that payments that are missed for non coronavirus (COVID-19) reasons, will show on your credit file and may mean you pay more for your loan, as the agreement now lasts longer (and you will be paying interest for longer) than the original term.
I have an active application, but my dealer has closed due to coronavirus (COVID-19).
We are aware that most motor dealers are closing while social distancing is in place, unfortunately this may mean that you may have to wait until they reopen to purchase that particular vehicle. Your application will still be valid and ready to proceed, but you need to know we will still need to complete our usual checks for Affordability and Creditworthiness.
Will First Response close or change operating hours?
We do not expect to have any service disruptions; however, should this occur then we ask for your patience and understanding.
I am a Motor Dealer, will you continue to process business?
It is important for our customers who need to keep mobile as well as the larger economy in general that we try to run our business as close to normal as possible. We will therefore be able to continue to process any applications that we receive.
However, if you have a vehicle showroom, you should make sure you are keeping your staff and customers safe by following the rules laid out by the government as well as the joint Trade Association Guidance on the movement of vehicles.
Will you continue to call and communicate with me?
In short, yes. It is important for our customers that we try to continue to communicate with you as close to normal as possible. By moving our entire workforce to work remotely for the foreseeable future, we are confident that we can continue to support all our customers, while keeping our staff and their families safe.
I want to download the Key Workers 'Thank-you' colouring sheet.
Is there any other advice and guidance I should read?
Here are some links to appropriate guidance from the Government as well as the Money Advice Service who offer user friendly guides to help you and your money through these tough times.