Initial Disclosure Document
1. The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. We are required to give you this document, use this information to decide if our services are right for you.
2. Whose products do we offer?
We can also introduce you to a limited number of lenders and finance products to assist you with your purchase. Please note these providers may complete searches with credit reference and fraud prevention agencies.
· MotoNovo - First Response - V12 Vehicle Finance - Moneyway - Blue Motor Finance - Oodle Finance - LUV Financial Solutions · Motor Market
We could offer you the following finance products (please note we will never advise, only provide the information for you to make an informed decision)
· Hire Purchase · Personal Contract Purchase · Personal Loan · Conditional Sale
Before entering into any agreement, you should ensure you have fully read and understood the agreement you are considering entering into. We encourage you to take the time to read through any documentation provided, and please do ask any questions you may have. It is incredibly important you understand the type of agreement you are entering into along with your rights under the agreement such as (but not limited too) Distance Selling and the 14-day rule, Post Contract and your rights if there is an issue with the vehicle, Cancellation and what would happen should you not be able to keep up with the repayments.
Our team is happy to answer any questions or go through anything in further detail, please contact us on the below.
3. What will you have to pay us for this service?
There is no fee for advising or recommending a credit arrangement. You will receive a quotation which will tell you about any other fees relating to any particular insurance policy. We may receive a commission or other benefit from the finance or insurance provider if you decide to enter into an agreement with them. This is a fixed payment and will not impact the rate you receive
4. Who regulates us?
Motor Market Limited, 27 Newtown Lane, Cradley Heath, West Midlands, B64 5EB is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 688482. Our permitted business is arranging consumer hire and credit brokerage for debtor-creditor-supplier agreements or consumer hire agreements. You can check this on the Financial Services' Register by visiting the FCA's website: www.fca.org.uk/register/.
It is extremely important that you look into finance options that are suitable for your current (and potential future) financial situation. We will go over all your details to ensure we have the correct information to pass onto our partners, who will then try to verify the information. However, please note that evidence of your income may be requested. If you are aware or suspect that your financial position will change in the future, you must inform us or the finance partner directly. Your credit rating could be adversely affected if you do not make payments when due.
6. What to do if you have a complaint
If you wish to register a complaint, please contact us on the below details. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS). You can find our full complaints procedure here.
7. Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Non-compulsory general insurance products are covered for 90% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS. You can telephone the FSCS on: 020 7741 4100 or write to them at: Financial Services Compensation Scheme, 10th Floor, Beaufort House, 15 St Botolph Street, London EC3A 7QU
8. How will your information be used?
PHONE: 01384 411119 EMAIL: [email protected]
POST: 7 Newtown Lane, Cradley Heath, West Midlands, B64 5EB