FLEET FINANCIAL - TERMS OF BUSINESS – CREDIT BROKING
As part of our commitment to treating you fairly in all our dealings with you both now and in the future, this document details our service and arrangements for dealing with your finance requirements. Please take the opportunity to read it carefully ensuring you retain a copy for your records.
OUR GROUP: LOOKERS MOTOR GROUP LIMITED
Lookers Motor Group Limited (LMGL) is authorised and regulated by the Financial Conduct Authority (FCA), the independent watchdog that regulates financial services. Our FCA Firm Register Number (FRN) is 309424. You can verify this information by checking the FCA Register which can be found at www.fca.org.uk/register or by contacting the FCA on 0800 111 6968. The companies named below are appointed representatives (ARs) of LMGL. LMGL and its ARs are subsidiaries of Lookers plc, Company registration number 111876, whose registered office (and that of LMGL) is at Lookers House, 3 Etchells Road, West Timperley, Altrincham, Cheshire, WA14 5XS.
Our Appointed Representatives (ARs)
Charles Hurst Limited FRN: 404120
Addison Motors Limited FRN: 727684
Fleet Financial Limited FRN: 456005
MB South Limited FRN: 461719
Drayton Group Limited FRN: 766669
Lookers Leasing Limited FRN: 535490
S. Jennings Limited FRN: 821551
Lookers Colborne Limited FRN: 517128
Colebrook & Burgess Limited FRN: 727687
Lomond Motors (East) Limited FRN: 679035
Lomond Motors Limited FRN: 476254
The Dutton-Forshaw Motor Company Limited FRN: 474287
LMGL and its ARs are permitted to arrange general insurance policies on your behalf and can also introduce you to a limited number of finance providers to assist with any finance arrangements you may need to make.
You will not receive advice or any recommendation from us in respect of the finance options we can offer, instead we will ask you a number of questions to narrow down the selection of products we will provide details on, ensuring you have sufficient information to choose how you wish to proceed.
ABOUT OUR CREDIT BROKING TERMS
CREDIT BROKER STATUS DISCLOSURE
We are a credit broker, not a lender and have the permission to carry out the regulated activity of credit broking which includes effecting introductions between you and lenders or other credit brokers. This means that we can introduce you to a limited number of lenders and their finance products, which may have different interest rates and charges, to assist with your finance.
We will provide details of products available from the lenders that we work with, but no advice or recommendation will be made. You must decide whether the finance product is right for you and all finance is subject to status and income. We also hold the permissions of debt adjusting and debt counselling for the regulated activity of settling finance agreements on an existing car in part exchange circumstances and organising a new finance agreement to replace it.
We will refer your application to our main panel of lenders, which will include many of the vehicle manufacturer lenders. If this is not successful, we will refer your application to another lender within our main panel of lenders.
Where your finance application has been unsuccessful, we will advise you of this and also provide you with the details of any credit reference agency consulted by the finance provider.
We do not charge you a fee for our services however, we will typically receive commission (either as a fixed fee or as a fixed percentage of the amount you borrow) from your finance lender for introducing you to them. The lenders we work with pay commission at different rates and promotional rates may also apply from time to time. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement.
You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your finance with a lender.
FINANCE AGREEMENT REVIEW
Where we have arranged finance for you, we may contact you prior to the end of your finance agreement to discuss the return of your vehicle and/or end of term options available to you.
We are covered by the Financial Services Compensation Scheme. 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. Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising, and arranging is covered for 100% of the claim, also without any upper limit. The scheme does not cover consumer credit. Further information about compensation scheme arrangements is available from the FSCS on 020 7892 7300 or by visiting www.fscs.org.uk
We value all customers and aim, at all times to provide a first-class service, including in complaints handling. Whilst we aim to achieve a high level of service, if you have any complaints about your finance or insurance, please contact us directly using any of the following methods:
Call Us: 0161 291 0043
Email Us: email@example.com
Write to Us: Complaints Department
Lookers, Lookers House 3 Etchells Road
West Timperley. Altrincham WA14 5XS
All complaints received are treated with confidentiality and in accordance with the requirements of data protection legislation. We will always strive to investigate and resolve your complaint promptly and fairly. However, if you are not satisfied with how we respond to your complaint, you may have the right to refer your complaint to the Financial Ombudsman Service. You must do so within 6 months of our final response to you.
The Financial Ombudsman Service is a free, independent service available to customers who have a complaint about a financial product or service. The address, website and contact details of the Financial Ombudsman Service are as follows:
Address: The Financial Ombudsman Service, Exchange Tower, London E14 9SR Email: firstname.lastname@example.org
Telephone: 0800 023 4567 or 0300 123 9123
For more information please read the Financial Ombudsman’s leaflet “Your Complaint and the Ombudsman” which is available at:
These Terms of Business are governed by the law of England and Wales and are subject to the exclusive jurisdiction of the courts of England and Wales. These Terms shall not be enforceable by third parties and the Contracts (Rights of Third Parties) Act 1999 is excluded. If any part of these Terms is deemed unlawful or unenforceable in any way, that part shall be deemed removed without it affecting the remainder of the Terms.
We are committed to the highest standards of data privacy and will only use your information in accordance with UK and EU data protection legislation. For more information please see our Privacy Notice published on our website at https://www.lookers.co.uk/privacy-notice