Berkshire Fiesta Centre LTD is authorised and regulated by the Financial Conduct Authority (our registration number is 667710) Permitted activities include acting as a credit broker not a lender.
We are a credit broker and not a lender. We can introduce you to a limited number of lenders and their finance products, we act as their agent for this introduction. We will receive a commission for this introduction and as such are unable to offer impartial advice. We are not independent financial advisors. We will provide details of products available, subject to your personal circumstances however we are unable to offer a whole market solution. You are not obliged to accept any financials offers. You are welcome to carry out your own research in order to fund the purchase of a new vehicle.
We do not charge you a fee for our services. we will receive commission from whichever lender we introduce you to (either a fixed fee or a fixed percentage of the amount you borrow).
Acting as a credit broker we can introduce you to a selected group of lenders / brokers (see below) who may be able to help you finance your purchase. This group of lenders / brokers provides us with a range of products which may be suitable for your purchase. We will explain the key features of those products to you.
Unless we consider it to be inappropriate given your personal circumstances, our approach is to introduce you to the lender who are usually able to offer the best available package for you, taking into account interest rates, residual valuations (where applicable) and other contributions. If they are unable to make you an offer of finance, or the vehicle is not one that we would normally place with them we will introduce you to other lenders on our panel. The lender we introduce you to and available rates will depend upon a number of factors including: the vehicle, your personal circumstances and the likelihood of a lender to accept an application based on information provided.
Motonovo Finance is our first string lender. We have no obligation to Motonovo, however we feel they are best suited to provide the best possible outcome for our customers. This is due to the wide range of rates available to suit most credit profiles as well as the speed and efficiency of their underwriting. The commission that we currently receive from Motonovo is lower than available from other lenders. Close Brothers, Blue Motor Finance, Oodle, First response and DrivePay are then used subsequently as needed, again to provide the best possible interest rate and monthly payment available.
Lenders will pay a commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions; some lenders may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned.
Advisory notice - If you fail to meet your payments, your vehicle is at risk of repossessions.
The Commission that we receive is calculated using the below terms:
Motonovo - 3% of the balance to finance – Example £10,000 BTF = £300 Commission
Close Brothers – 3.8% of the balance to finance – Example £10,000 BTF = £380 Commission
Blue Motor Finance – 5% of the balance to finance - Example £10,000 BTF = £500 Commission
First response – 3% of the balance to finance - Example £10,000 BTF = £300 Commission
DrivePay – No commission paid
All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over, guarantees may be required.
Basis of our Service
We have taken steps to ensure that if, in the course of advising you, we make a recommendation; such recommendation will be suitable for your demands and needs at the time the recommendation is made. In assessing your demands and needs we may seek such information about your personal circumstances and objectives as might be relevant in order to enable us to identify your requirements. It is important that you provide us with accurate and relevant information.
Your Protection
We always aim to provide a fantastic quality of service, however if you have any cause for complaint, an enquiry can be raised by either email, in writing or by telephoning, 01189 712 167, Our email is:[email protected] Should you remain dissatisfied you may have the right to ask the Financial Ombudsman Service to review your case. You should write to the Financial Ombudsman Service, Exchange Tower, London, E149SR. Telephone 0800 023 4567 or 0300 123 9123. Web address: www.financial-ombudsman.org.uk.
Details of Berkshire Fiesta Centre LTD authorisation can be confirmed by contacting the FCA on 0800 111 6768 or by visiting the FCA's website http://www.fca.org.uk/register.
As an organisation we are committed to providing good consumer outcomes, before, during and after a sale.
Before the sale you can expect:
· To have any significant and unusual exclusions or exceptions to the policy brought to your attention.
· A clear statement of price, including where applicable a breakdown of any interest charges.
· Details of your cancellation rights and our complaints procedure.
· Copies of your documentation or information as to when these documents will be dispatched.
After the sale you can expect:
· Not to encounter any barriers to cancelling your policy within regulatory agreed time frames.
· To have any complaint dealt with in a timely and professional manner.
If at any time you feel you have not been treated unfairly by any member of our staff please contact us at the address or telephone number above.
Under distance marketing rules you have a 14-day period in which to cancel the purchase (cooling off period) of the vehicle. If you are obtaining the vehicle on finance this cooling off period does not apply. Full detail will be provided by the finance company within their pre-contractual information.
By signing this document, I hereby accept that Berkshire Fiesta Centre Limited has made me aware of any commission and the amount they are likely to receive for their intermediary involvement.
Name ...........................................................................................................
Date ..................................................
Signature ...........................................
(Must match driving license)