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Initial Disclosure Document

Initial Disclosure Document

Important Information

The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority requires us to provide you with a document called an 'Initial Disclosure Document'. This document provides information about us, 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. 

What services do we provide? 

  1. We offer vehicle leasing and contract hire products. All our products are related to the leasing and hire of a vehicle. 
  2. We do not fund any credit contracts ourselves all credit applications are introduced to a third-party lender. We are a Broker not a Lender. 
  3. You will not receive advice or a recommendation from us. We have provided you with product information enabling you to make your choice about how to proceed.
  4. We encourage you to ask us at any stage anything that is unclear and obtain independent advice if you still do not fully understand the credit arrangements. 
  5. Please note unless we are satisfied you fully understand the terms and conditions of the finance you are applying for, we will be unable to make the introduction to the finance company, this is for your protection and ours.
  6. We recognise it is important for customers to be able to shop around for credit and alternative sources of credit.

What we will do. 

  1. Explain the key features of the regulated credit agreement to enable you to make an informed choice.
  2. Take reasonable steps to satisfy ourselves that a product we offer to you is not unsuitable for your needs and circumstances.
  3. Advise you to read, and allow you sufficient opportunity to consider, the terms and conditions of a credit agreement before entering into it. 
  4. Before referring you to a third party which carries out regulated activities obtain your consent, after having explained to you why your details are to be disclosed to that third party.
  5. Before effecting an introduction of you to a lender we will explain how, when and where you may exercise your cancellation rights. 
  6. If for any reason you have not taken delivery of your new vehicle within 60 days of the initial soft credit search, we will perform a further soft credit search to ensure your circumstances have not changed. If there is a change to your circumstances your application may be declined. The soft search is not visible to other lenders and will not impair your ability to obtain other credit.

Quotations 

We will quote figures based on our funders cost of funds. The funder has the right to change or decline these quotes on receipt of the full proposal. 

The Cost of our Services and Commission 

We charge a processing fee which covers the costs incurred for processing your agreement. LM Vehicle Leasing charge a processing fee of £199.00 + VAT (£238.80 incl. VAT) for our services and this is payable by debit or credit card or by Bank Transfer once finance approval has been received and you sign a vehicle order form. 

We will be paid a commission by the finance provider if you decide to enter an agreement with them. The commission we receive will be a fixed fee. We will also receive the initial rental payment made by you when taking out the agreement. You are entitled, at any time, to request information regarding any payment which we may have received. Any payment and or commission received from the funder will not affect what you pay under the agreement. 

Conflicts of Interest 

If through exceptional circumstances LM Vehicle Leasing or any of its Directors or other customers has a material interest in business you ask to be transacted for you, we will make you aware of the conflict of interest and we will obtain your consent before your instructions are carried out.

Who regulates us? 

LM Vehicle Leasing is a trading name of LM Motor Company Ltd who are registered and regulated  by the FCA.. Our Firm Reference Number is 932569. We are permitted to act as a Credit Broker. 

You may check this information on the FCA’s Register by visiting www.fca.org.uk/register or by contacting them on 0800 111 6768 (Freephone) or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad. Some of the services that we provide are not regulated by the Financial Conduct Authority. You will be advised in advance of any such proposal or service. 

If you have a complaint 

Please in the first instance contact us on either the telephone number or email below, and we will make every effort to resolve to your satisfaction.  

Telephone: 01563 614121

Email: sales@lmmotorcompany.co.uk

Website: www.lmvehicleleasing.co.uk