Car finance glossary | F

Financial Ombudsman Service (FOS)

The Financial Ombudsman Service, or FOS, is an impartial service appointed by parliament to help settle disputes between customers and UK businesses providing financial services such as banks, building societies, insurance companies, investment firms, financial advisers and finance companies.
Financial Ombudsman Service (FOS) Explained >

Fixed Interest Rate

A Fixed Interest Rate loan means the interest rate will not change for the duration of the term, resulting in you knowing exactly what you are accountable for each month, as well as the total amount payable at the end of the loan agreement.
Fixed Interest Rate Explained >

Flat Rate

The Flat Rate of interest is a percentage of interest that's based on the initial loan amount and does not change across the duration of the finance term. it does not take into account any finance repayments.
Flat Rate Explained >

Forecourt Finance

Forecourt Finance is when you arrange a car finance package directly with a dealer. The agreement is then agreed and signed for at the dealership.
Forecourt Finance Explained >

Fronting

Fronting is the name of the fraudulent act whereby an individual takes out finance on behalf of someone else. This is a criminal offence.
Fronting Explained >

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