MotorAid Leasing Initial Disclosure (IDD)
MotorAid Leasing (also referred to herein as MAL) is a credit broker, not a lender.
MotorAid Leasing is authorised and regulated by the Financial Conducts Authority (FCA), registration number 844929. You can verify this on the FCA’s website www.fca.org.uk or by telephone on 08001116768. MotorAid Leasing’s Trading and Registered Address is Westgrove House, Ettingshall Road, Wolverhampton WV2 2LH.
MAL is permitted by the FCA to carry out credit broking.
MAL is a broker member of the British Vehicle Rental and Leasing Association (BVRLA), number is 10086.
MotorAid Leasing – Services
MAL provides motor vehicle finance brokerage services to customers via third party finance providers. MotorAid Leasing will provide you with comparable details of firms that offer the most appropriate funding methods that suit your requirements, or general information relating to finance products.
The funding options on offer from MAL are business and personal contract hire agreements. PCP finance, Lease Purchase, Hire Purchase, Finance lease, and Asset Finance are also on offer. In order to assess your requirements, MAL may seek information about your personal circumstances and objectives that could be relevant in identifying your needs. Find out more about our services and how the work from our Leasing Guide.
Summarised information and guidance to your rights, including your rights to cancel (PCH) Personal Contract Hire and (PCP) Personal-Contract-Purchase
Key-Information Personal Contract Hire and its suitability, to meet your requirements, along with details of your responsibilities under the terms of a Personal Contract Hire Agreement
MAL only offers products from selected finance providers that may be able to help and assist you to fund or finance your vehicle.
MAL offers optional products and services, such as Contract Hire with Maintenance and Personal Contract Hire with Maintenance find out more about these products and suitability, to meet your requirements by clicking the links above.
MotorAid Leasing will only offer products from a carefully selected panel of finance providers. MAL will not refer you outside of this panel. You can request a list of the suppliers that provide MAL’s vehicle funding and finance. All the products that are offered by MotorAid Leasing are optional. MAL may receive a fee for introducing you to one of the approved portfolio of lenders that assist with your agreement.
MotorAid Leasing – Service Charges
MotorAid Leasing charge an administration processing fee of £175.00 or £210 including VAT; this fee relates to documentation and order processing, relating to finalisation of your vehicle order.
A contract extension fee of £95+ Vat or £114 including Vat is charged by MotorAid Leasing for this service provision and to cover the staff time costs when arranging contract end extensions. Fees are payable by credit card, debit card or via BACs payment at point of completing contract extension.
MotorAid Leasing – Vehicle Order Cancellation Charges
If you cancel your order after you have signed your pre contract order All Vehicle Contracts Ltd and/or any third party in relation to this agreement reserve the right to levy a cancellation charge of £195+Vat £234 including Vat.
MotorAid Leasing – Irrevocable Vehicle Order Cancellation
This charge is to cover All Vehicle Contracts Ltd whereby a cancellation as resulted by way of placing an irrevocable order that we are unable to cancel and we are forced to purchase or compensate the supplying dealer.
In the event of any cancellation by you whereby a vehicle has been purchased for you, or an irrevocable order with the manufacturer has been placed by MotorAid Leasing on you accordance with your instructions, MotorAid Leasing reserve the right to pass on any consequential losses, up to 10% of the On the Road Price of the vehicle.
MotorAid Leasing – Complaint Procedure
Our customers are entitled to a high level of service; unfortunately, from time to time things can and do go wrong. When they do, we will make every effort to resolve and handle your complaint as quickly and amicably as possible.
Find out more details and what to do if you have complaint about us or our services from our Complaint Procedure In the unlikely event that a complaint you have made as remained unresolved after 8 weeks from the date it was made, you may be able to refer it to the Financial Ombudsman Service (FOS), dependent upon the nature of your complaint. The FOS provides free service along with a mechanism for resolving disputes which is a simple, informal and accessible alternative to the courts. Their address is: The Financial Ombudsman Service (FOS), Exchange Tower. LONDON E14 9SR ombudsman./complaints Tel: 0800 023 4567 (free), or 0300 123 9123 (costs no more than calls to 01 and 02 numbers)
Firms directly authorised by the FCA have a documented complaints procedure and a copy of ours will be made available to you upon request.
Confidentiality and Data Protection
As the services MotorAid Leasing offer require obtaining credit acceptance for your vehicle, MAL will need to pass your details on to funding or finance providers. A list of partners is available on request together with related Consumer Credit Licence numbers.
Any of MAL’s partners that have been chosen to arrange credit will need to undertake credit searches with a credit reference agency or credit reference agencies. Your details will not be forwarded without your permission that is given by way of a signed pre-contract order, detailing both the vehicle and your terms of funding or finance.