Melton Mowbray company celebrates passing £1billion milestone
Staff and management at a Melton Mowbray company are celebrating achieving a major milestone – surpassing £1billion in customer transactions.
Payment Assist, which is based at the town’s Pera Business Park on Nottingham Road, has helped more than one million UK motorists to successfully spread the cost of essential vehicle repairs.
The flexible finance provider works with 8,000 garages, workshops, tyre fitters and dealerships nationwide, offering interest-free finance on MOTs, services, tyres and other important repairs.
Marcus Gregory, CEO of Payment Assist, commented: "Reaching £1bn in customer transactions is a huge milestone for our team.
"Through our flexible finance solutions, we’ve helped more than one million motorists to spread the cost of essential vehicle repairs and kept their vehicles in a safe, roadworthy condition as a result.”
The company says it is committed to supporting drivers and preventing the unintended consequences of delayed vehicle maintenance – according to the latest figures, 10,000 vehicles failed their MOTs in 2024 and 13,000 motorists were prosecuted for driving unsafe vehicles during the same period.
Mr Gregory added: "With the rising cost of living putting households under increasing financial pressure, motorists are delaying essential vehicle repairs.
"While appearing to make immediate savings in the short-term, these decisions are leading to a significant increase in the number of unsafe vehicles on UK roads and leading to larger repair bills later down the line."
The company, which is regulated by the Financial Conduct Authority, enables customers to spread the cost of routine servicing and essential maintenance over variable periods.