1. The Financial Conduct Authority (FCA)

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

 

2. Whose products do we offer?

We are appointed to act as the agent of the insurers and not as your agent, when offering or recommending the above products and where we collect any premium or handle premium refunds, we do so as the agent of the insurer.

We act as a credit broker, not as lender, for the introduction to a limited number of finance providers only for;

  • • HIRE PURCHASE, PERSONAL CONTRACT PURCHASE (PCP)

We act on behalf of the lender for this introduction and not as your agent. We are not an independent financial advisor; we will provide details of products available. We will review suitable finance products, subject to your personal circumstances, though you are not obliged to take our recommendation.

Our panel of Lenders, who may be able to finance your purchase are;

  • • Close Brothers Motor Finance - Rate for Risk / % of Balance Financed Commission Model
  • • MotoNovo Finance - Rate for Risk / % of Balance Financed Commission Model •
  • First Response Finance - Rate for Risk / % of Balance Financed Commission Model
  • • Mann Island Finance Ltd - Rate for Risk / % of Balance Financed Commission Model
  • • Stellantis Financial Services - Fixed Rate / % of Balance Financed Commission Model

We also have access to many other lenders through;

  • • Evolution Funding - Rate for Risk / % of Balance Financed Commission Model

You are under no obligation to make use of any finance or added value product arranged by Croyland Car Megastore. Other providers may offer similar finance or added value products that may or may not meet your needs.

 

3. Which service will we provide you with?

We will review suitable finance products for you after we have assessed your needs for;

  • • HIRE PURCHASE, PERSONAL CONTRACT PURCHASE (PCP)

You are not obliged to agree with our recommendations or to make any purchase of a finance or added value product. You may obtain free, unbiased guidance from the Money Advice Service at www.moneyadviceservice.org.uk or Your Impartial Guide to Car Finance at www.financingyourcar.org.uk.

 

4. What will you have to pay us for this service?

We arrange the policy with the insurer on your behalf. You do not pay us a fee for doing this. We may receive a revenue from the sale of the product, which is based on the margin between the selling price, net of Insurance Premium tax, and the cost price to us.

You will make no payment to us for the introduction to our panel of lenders.

If you purchase a new vehicle, typically we may receive a commission from the lender if you decide to enter into an agreement with them.

If you purchase a used vehicle, typically we will receive a commission from the lender if you decide to enter into an agreement with them.

You may ask us for details of such payments, which we will tell you (in good time before the agreement is executed) the amount of any commission we will earn from the lender.

Whichever lender we introduce you to, we will typically receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow). For your reassurance, all of the lenders we work with could pay commission at different rates, but the commission we receive does not influence the interest rate you will pay. Our aim is to secure finance for you at the lowest interest rate you are eligible for from our panel of lenders. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed.

Commission Arrangements

% of Balance Financed Commission Model

The Dealer will be paid a commission for introducing you to the lender. This will be a percentage of the amount that you borrow. This means the more you borrow the more the Dealer is paid. The commission will be the same no matter the interest rate that you pay.

Flat £s Fee Commission Model

The Dealer will be paid a commission for introducing you to the lender. This will be a flat fee amount. This means the commission will be the same no matter how much you borrow or the interest rate that you pay.

 

5. Who regulates us?

Croyland Car Megastore is an appointed representative of Automotive Compliance Limited who is authorised and regulated by the Financial Conduct Authority. Automotive Compliance Ltds' FCA Register number is 497010.

Automotive Compliance's permitted business is to act as a Principal Firm for a network of motor dealer Appointed Representatives' who act as Credit Brokers for the introduction to finance providers, acting on behalf of the lender and sell and arrange non-investment insurance contracts, acting as agents on behalf of the insurers. You can check this on the Financial Services Register by visiting the FCA's website https://register.fca.org.uk/ or by contacting the FCA on 0300 500 8082.

 

6. What to do if you have a complaint?

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

... In writing Automotive Compliance Ltd, The Factory, 44 Alfred Street, Gloucester, GL1 4DD.

... by phone 01452 671560

... by e-mail [email protected]

If we cannot resolve your complaint within 8 weeks, you may refer your dispute to the Financial Ombudsman Service. This service is free to use. Their consumer helpline is available on 0300 123 9123 or you can visit their website at www.financial-ombudsman.org.uk.

 

7. The Data Protection Act

Croyland Car Megastore is also governed by the Data Protection Act (2018). This ensures any information you give us is managed in a secure and confidential manner. This information may be passed to other groups or affiliated members including those company(s) detailed in Section 2 above. Without this information Croyland Car Megastore is unable to process your order or enquiry. Under the Data Protection Act you may apply to have this information restricted or removed at any time by telling Croyland Car Megastore via phone on 0 or in writing to Croyland Car Megastore, Northampton Rd, Rushden, , NN10 6GA.