Initial Disclosure Document
The Financial Conduct Authority (FCA) is the independent regulator of financial services. The FCA require us to provide you with an Initial Disclosure Document to help you decide if our services are right for you. This document provides information about Car Leasing Limited, 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.
About Car Leasing Ltd
Car Leasing Limited is authorised and regulated by the Financial Conduct Authority (FCA).
Car Leasing Limited is a credit broker and not a lender.
We are permitted by the FCA to carry out credit broking, debt administration, debt counselling and advising in regard to the arrangement of non-investment insurance products.
We provide motor vehicle finance brokerage services to customers via a third party finance partner on a lease agreement. Our registered address is Astra House, The Common, High Street, Cranleigh, Surrey, GU6 8RZ. Our Financial Conduct Authority Firm Reference Number is 654390. You can verify our status on the Financial Services Register by visiting the FCA’s website at www.fca.org.uk or by contacting the contact Centre on 0800 111 6768
The credit broking services we provide
We will provide you with either comparable details of firms most appropriate to your funding requirements or general information relating to finance products. To assist us in assessing your needs we may seek relevant information about your personal circumstances and objectives in order to identify the best possible solutions applicable to you.
The finance products we use
As a Financial Conduct Authority regulated credit broker, we may introduce you to a range of finance providers who may be able to help you finance your vehicle and provide other products/services, such as vehicle maintenance and servicing packages.
We will only offer products from a carefully selected panel of finance providers. We will not refer you outside of this panel without your consent. You can ask us for a list of the suppliers who provide our finance and insurance products. All the products we offer are optional.
We are paid a commission which may be pre-set but can vary from finance provider/lender and will impact the amount payable by you. If you would like more information regard to the disclosure of commissions, please email [email protected]
The charge for our credit broking services
Car Leasing Limited charge a fee for some of our credit broking services.
Processing Fee - We charge a processing fee of £250 including VAT (£208.33 excluding VAT) for our services. The processing fee represents the costs incurred for arranging the sale, ordering the vehicle, arranging the finance, and organising the delivery of the vehicle. This processing fee is payable by Bank Transfer and is requested once finance approval has been received, along with all relevant paperwork signed by you instructing us to place an order on your behalf.
Contract Extension – At the end of your contract agreement and subject to approval by the finance provider, you may be able to extend your contract. Car Leasing Limited will charge a contract extension arrangement fee of £100 excl. VAT for a six-month extension and £150 excl. VAT for a 12-month extension. The contract extension fee is payable by a BACs payment and will be taken on receipt of your signed finance documentation detailing the amendment. Please note, this option is not available with all funders. Please speak to us for further information or e-mail [email protected].
Contract Mileage Amendments – Subject to approval by the finance provider, contract mileage amendments (e.g. reductions and extensions) will be charged a fee of £100 excl. VAT. The contract mileage amendments fee is payable by BACs payment and will be taken on receipt of your signed finance documentation detailing the amendment. Please note, these options are not available with all funders.
Transfer of Contract – In the instance that a transfer of contract name is required for a private individual, sole trader, partnership or LLP, Car Leasing Limited will charge a fee of £400 excl. VAT subject to approval by the finance provider. This fee represents two costs, £200 (excl. VAT) of which is paid to the finance provider for the administration of the Transfer of Contract agreement and £200 (excl. VAT) of which represents the costs incurred by Car Leasing Limited for processing the arrangement on your behalf. The transfer of contract fee is payable by debit or credit card or by BACs payment and will be taken prior to finance proposal. This fee is payable even if you do not complete for any reason but does not apply if you fail to pass eligibility checks. Please note, this option is not available with all funders. Please speak to your sales consultant for further information or e-mail [email protected]
Novation Fee - In the instance that a transfer of contract name is required for a Limited Company, Car Leasing Limited will charge a fee of £400 excl. VAT subject to approval by the finance provider. This fee represents two costs, £200 (excl. VAT) of which is paid to the finance provider for the administration of the Novation agreement and £200 (excl. VAT) of which represents the costs incurred by Car Leasing Limited for processing the arrangement on your behalf. The novation fee is payable by BACs payment and will be taken prior to finance proposal. This fee is payable even if you do not complete for any reason but does not apply if you fail to pass eligibility checks. Please note, this option is not available with all funders.
Confidentiality and data protection
As part of the process of obtaining finance and non-investment insurance products for your vehicle we will need to pass your details on to one or more of our finance providers. A list of these partners is available on request together with their FCA firm reference numbers. Any organisation approached to arrange credit will need to undertake credit searches with a credit reference agency which could affect your credit rating. All our calls are recorded for training and monitoring purposes.
The regulator
Car Leasing Limited is authorised and regulated by the Financial Conduct Authority. Our registered address is Astra House, The Common, High Street, Cranleigh, Surrey, GU6 8RZ. Our Firm Reference Number is 457624. You can check this on the Financial Services Register by visiting the FCA’s website at www.fca.org.uk or by contacting the contact Centre on 0800 111 6768.
Some services that 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.
Dispute Resolution and Complaints
We work hard to ensure that the services we offer are fair and that our communication to our customers is clear and not misleading. However, if you are unhappy with our service and you wish to register a complaint, please contact us:
…in writing to: Mr Chris Mutton, Car Leasing Ltd, Astra House, The Common, High Street, Cranleigh, Surrey, GU6 8RZ or email [email protected] or telephone 01483 891010
To help us resolve your problem, you should provide the following information:
- Your full name and contact information
- Full details of your complaint
- Your lease agreement details
- Details of what you would like us to do to put things right
- Photocopies of any relevant paperwork
We will answer any complaints as quickly as possible but always within eight weeks.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
A copy of our full complaints procedure is also available here: Complaints Procedure
The Financial Services Compensation Scheme (FSCS)
You may also be entitled to compensation from the Scheme if we are unable to meet our obligations. This depends on the type of business and the circumstances of the claim. Further information about compensation scheme arrangements is available from the FSCS
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service or the BVRLA (British Vehicle Leasing & Rental Association.
A copy of our full complaints procedure is also available here: Complaints Procedure
The Financial Services Compensation Scheme (FSCS)
You may also be entitled to compensation from the Scheme if we are unable to meet our obligations. This depends on the type of business and the circumstances of the claim.
Further information about compensation scheme arrangements is available from the FSCS.
