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Initial disclosure document

The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority require us to provide you with a document called an 'Initial Disclosure Document'. This document provides information about us, the products we offer, the services we will provide, what we charge for our services, who regulates us, what to do if you have a complaint and details about the Financial Services Compensation Scheme.

What services do we provide?

We will provide you with either comparable details of firms most appropriate to your lending or purchase requirements or general information relating to finance products. In assessing your requirements we may seek such information about your personal circumstances and objectives as might be relevant in order to enable us to identify your needs. It is important that you provide us with accurate and relevant information. You will not receive advice, or a recommendation from us, but we may ask questions to narrow down the selection of firms offered, from which you can more easily make your own choice if you so wish.

Whose products do we use?

As an Financial Conduct Authority regulated credit broker we can introduce you to a range of lenders who may be able to help you finance your vehicle and provide other products/services.

The insurance products we offer?

Contract Hire GAP & RTI [Return to Invoice] Insurance: First Vehicle Finance Limited offers Guaranteed Asset Protection (GAP) insurance & RTI [Return to Invoice] Insurance products from a single provider. These products are provided by Premia Solutions Limited, 3 Corunna Court, Corunna Road, Warwick, CV34 5HQ and we arrange the policy with the insurer on your behalf. Policies are underwritten by AmTrust International Underwriters DAC, PO Box 10534, Dublin 2, Ireland. You do not pay us a fee for doing this. We receive commission from the insurer which is a percentage of the total annual premium.

What do we charge for our services?

We are a commission and fee based organisation which means that we may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with us. These fees may be variable or pre-set dependent on the product and the volume that we place with the chosen supplier.

We charge an Arrangement Fee of £125.00 + VAT (£150.00 incl VAT) which will become payable just prior to delivery of your vehicle. This fee is to cover the costs incurred in processing the vehicle finance agreement. We do not charge fees for processing insurance products. Payment of the Arrangement Fee can be made on-line by BACs transfer or cheque.

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.

Cancellation

No order which has been accepted may be cancelled by The Customer except with the written consent of the Company and subject to the Customer indemnifying the Company in full against all loss (including loss of profit), costs (including the cost of labour and materials), damages, charges and expenses incurred by the Company. Our cancellation fee is £500 plus VAT. Where a customer cancels the Agreement during the Cooling Off Period, the Customer will still be liable to pay any fees due as listed here (the Vehicle Order not being a ‘linked agreement’ for the purposes of the Consumer Credit Act).

Who regulates us?

First Vehicle Finance Limited is authorised and regulated by the Financial Conduct Authority. Our firms reference number is 669990. You can verify this on the Financial Conduct Authority's Register by visiting the Financial Conduct Authority's website: http://www.fca.org.uk/register/ or by contacting them on 0300 500 8082.

Other services we offer are not regulated by the Financial Conduct Authority however the Financial Ombudsman Services has now been extended to handle some complaints under the Consumer Credit Act.

If you have a complaint

Please visit our complaints procedure page.

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