Financial Services Status Disclosure
The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. This Status Disclosure document is designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered. Please use this information to decide if our services are right for you.
Which products do we offer?
Should you require finance to assist with the purchase, lease or hire of a vehicle, we can introduce you to a limited number of lenders and finance products. If you request it, we can provide a list of lenders we work with.
We offer a limited number of insurance products (Tyre & Alloy Wheel Insurance, Asset Protection and New Car Replacement Insurance), each from a single insurer.
Which services will we provide you with?
We will advise and make a recommendation for you from the finance products we offer, after we have assessed your needs. We will advise and make a recommendation for you on insurance products after we have assessed your eligibility for the insurance products we offer. You will then need to make your own choice about how to proceed.
What will you have to pay us for our services?
We charge a fee for our business contract hire and personal contract hire of £99.00 excluding VAT and £118.80 including VAT respectively.
We are a commission and fee-based organisation which means that we may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with us. These fees may be variable or pre-set dependent on the product and the volume that we place with the chosen supplier.
If you take out an insurance product we recommend to you, we will make a margin on the sale of that product from the price paid by you.
If you would like us to disclose any potential commission we earn please make your request to our head office address or refer to the ‘Contact Us’ section.
Who regulates us?
All Vertu Motors legal entities are authorised and regulated by the Financial Conduct Authority, either as a principal or an appointed representative. Your document if you enquire on a vehicle will confirm which legal entity you are dealing with.
Our permitted business is to act as a broker for consumer finance and to provide insurance distribution of non-investment insurance.
You can check this on the FCA register by visiting the FCA website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768 or 0300 500 8082
All Vertu Motors legal entities are subsidiaries of: Vertu Motors plc, Vertu House, Fifth Avenue Business Park, Team Valley, Gateshead, Tyne and Wear, NE11 0XA
What to do if you have a complaint?
If you wish to register a complaint, please contact us as follows:
By e-mail - email@example.com
In writing - FCA Compliance Manager
Vertu Motors plc
Fifth Avenue Business Park
Gateshead, Tyne and Wear, NE11 0XA
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. 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. Further information about compensation schemes is available from FSCS.