Initial disclosure document

The Financial Conduct Authority

The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.

Treating customers fairly

Our business is committed to treating our customers fairly and ensuring our products and services are suitable for their needs. Treating Customers Fairly (TCF) is a core part of our culture and philosophy and you can review our commitment to it by asking for a copy of our TCF policy statement.

Whose products do we offer?

We can introduce you to a limited number of lenders who may be able to finance your purchase. We will only introduce you to these lenders.

Other finance facilities

You may be able to obtain finance for your purchase from other lenders and you are encouraged to seek alternative quotations and details of their products by researching on the high street, in the media and online.

What will you have to pay for this service

You will not make any payment to us for processing a finance application or for introducing you to a finance provider. All charges that you will pay including, interest, documentation fees or rentals, where applicable, will be clearly shown on the finance agreement.

Commission disclosure

We may receive a commission payment from the finance provider if you decide to enter into an agreement with them.

The nature of this commission is as follows: we either receive a fixed fee commission, or we receive a commission based on a percentage of the total amount of finance taken out by the customer.

The commission paid to us will not affect the amount you have to repay under the agreement.

You can request for us to disclose the amount of any commission received.

Understanding our products and documents

If you have any health issues, difficulty in understanding information or there any recent life events that could affect your ability to fully understand the information and documentation you are presented with or what your commitments are under the agreement, you should carefully consider the amount of time you require to review the documentation. You should also consider if it is advisable for you to have someone you know, help you make your decision. Please advise us accordingly if this is the case and we can then proceed with your requirements in the most appropriate way.

You should make sure you have sufficient time to assess the information given to ensure the funding option offered is suitable for you and meets your requirements. You should seek further explanations and ask questions if needed to fully understand the documents you are given.

Your affordability

You should assess the monthly payments you are required to make throughout the agreement and ensure you are able to meet these obligations and other obligations you already have without suffering undue hardship. If you are aware of any future events that will affect your ability to meet these payments, you should ensure the provider is informed immediately.

Your credit rating could be adversely affected if you do not make payments when due which could make it harder or more expensive for you to access finance facilities in the future.

Who regulates us

The Vehicle Financer Ltd is authorised and regulated by the Financial Conduct Authority; registration number 9970074. The Vehicle Financer Ltd’s address is Riverside, Mountbatten Way, Congleton CW12 1DY.

You can check this information on the FCA register by visiting www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.

What to do if you have a complaint

If you wish to register a complaint, please contact us:

In writing: Write to Riverside, Mountbatten Way, Congleton, CW12 1DY.

By telephone: 01625 324 444.

By email: [email protected]

If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. If you cannot resolve a complaint with us, you may be entitled to refer it to the Financial Ombudsman Service whose contact details are set out below:

In writing: The Financial Ombudsman Service, Exchange Tower, London E14 9SR

By Telephone: 0800 0234567

By email: [email protected] Website: www.financial-ombudsman.org.uk.

For complaints information when a transaction is completed online, please access the Online Dispute Resolution platform at http://ec.europa.eu/consumers/odr/

Confidentiality and data protection

Throughout the process of administering services for you we will need to collect personal information from you and pass this information to one or more third party organisations in order for them to supply any services you request. This may include passing this information to one or more potential lenders or credit brokers to enable them to make a credit decision. These lenders may use your information to conduct an affordability and credit worthiness assessment and will do so using the consent given by you.

This may include sharing your information with credit reference agencies and other companies for use in credit decisions and fraud prevention. For full details of where your information will be sent, and the purpose for doing so, or to cancel your consent for the processing of your personal data, please contact us.

In cases where your initial application may be refused by the most suitable lender, your application may be referred to other lenders or credit brokers who may also share information with credit reference agencies in order to assess your application for finance.

Those lenders or credit brokers, will not use your personal information to provide you with promotional or marketing material, unless you opt-in to receive this material directly with them.

A copy of our privacy policy, which details how your information will be processed and your rights, is freely available upon request. To request this information please contact us:

In writing: Write to Riverside, Mountbatten Way, Congleton, CW12 1DY.

By telephone: 01625 324 444.

By email: [email protected]

These are the products we sell

Conditional sale

Ownership options

You are the registered keeper, but the finance company remains the owner until the finance is paid in full. Once the finance is paid in full you automatically become the owner of the vehicle.

In some circumstances, if you have problems with the vehicle, you may be able to refer these issues to the finance company.

Restrictions/potential extra costs

There are usually no mileage restrictions though you will need to check your agreement. Excess mileage charges will not apply. You cannot sell the vehicle until the finance has been paid off in full. You will need to service and insure the vehicle in line with the terms of the agreement.

Payment and equity

Flexible terms may allow you to finance the vehicle over a longer period than leasing and PCP. By increasing your deposit, you will lower the monthly payment. As the amount borrowed is paid off in equal instalments during the term of the agreement, it is more likely you will have a higher amount of equity than a PCP agreement for the same term. However, if you decide to sell the vehicle before the end of the agreement, you will have to pay the agreement in full (less an interest rebate) which will reduce the amount of equity you have in the vehicle and particularly in the early stages of the agreement could mean the vehicle is worth less than the amount of finance outstanding.

Hire purchase

Ownership options

You have an option to own the vehicle at the end of the agreement.

You are the registered keeper, but the finance company remains the owner until the finance is paid in full.

In some circumstances, if you have problems with the vehicle, you may be able to refer these issues to the finance company.

Restrictions/potential extra costs

There are usually no mileage restrictions though you will need to check your agreement. Excess mileage charges will not apply. You cannot sell the vehicle until the finance has been paid off in full. You will need to service and insure the vehicle in line with the terms of the agreement.

Payment and equity

Flexible terms may allow you to finance the vehicle over a longer period than leasing and PCP. By increasing your deposit, you will lower the monthly payment. As the amount borrowed is paid off in equal instalments during the term of the agreement, it is more likely you will have a higher amount of equity than a PCP agreement for the same term. However, if you decide to sell the vehicle before the end of the agreement, you will have to pay the agreement in full (less an interest rebate) which will reduce the amount of equity you have in the vehicle and particularly in the early stages of the agreement could mean the vehicle is worth less than the amount of finance outstanding.

Updated January 2021