Commission Disclosure
Financial Conduct Authority
NewCarsOnline is a credit broker regulated by the Financial Conduct Authority. We will introduce you to finance providers who may be able to help you fund your vehicle and offer additional products or services, including vehicle maintenance, Asset Protection Insurance, and servicing packages.
We will disclose any potential commission we earn:
We will receive a commission or other benefits from one of our finance providers should you decide to enter into an agreement with them as a result of our introduction, or from another credit broker to whom we refer you should we be unable to arrange funding for you. In some instances, we may receive a commission from the vehicle supplier. These payments could be reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder or supplier selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders or suppliers may also pay us an additional commission based on commercial volumes. We will disclose the commission amount we receive and the finance company providing the payment prior to sending your finance agreement and may ask for your consent to proceed. You may also be required to sign a document confirming your acceptance and understanding of this disclosure.
If you would like more information regarding the disclosure of commissions, please e-mail: sales@newcarsonline.co.uk, or by calling us on 01472 563600.
About Online Motor Group Ltd T/A NewCarsOnline.co.uk’s Services
1. Whose Products Do We Offer?
As a broker we can introduce you to a wide range of finance companies, UK vehicle dealerships and product providers with whom we have commercial agreements in place. We do not provide independent financial advice and we may be paid a commission for introducing you to them.
This will be an amount that is capped at a percentage of the tax list price of the vehicle.
As a broker we may also receive an extra amount based on how much business they give us and the quality of their service.
The higher the amount paid to the broker, the more you will pay to hire your vehicle.
If you ask, we will tell you (in good time before the agreement is made) the amount of any payments they will receive from the finance company.
2. Which service will we provide for you?
We will take steps to ensure that, in the course of advising you, we will only make a recommendation, that will be suitable for your demands and needs at the time that the recommendation is made.
In assessing your demands and needs we may seek information about your personal circumstances and objectives which may be relevant, in order to enable us to identify your requirements. It is important that you provide us with accurate and relevant information
3. Who Regulates Us?
Online Motor Group Ltd T/A NewCarsOnline.co.uk is authorised and regulated by the Financial Conduct Authority. Registered No: 722489
4. What to do if you have a complaint
If you wish to make a complaint please contact Online Motor Group Ltd T/A NewCarsOnline.co.uk in writing at our registered office address; Online Motor Group Ltd, Unit 9 Enterprise Road, Caistor, LN7 6PX and we will be happy to respond. Alternatively; you can contact us by e-mail on; sales@newcarsonline.co.uk or call us on; 01472 563600. If you cannot settle things to your satisfaction with us directly you may be entitled to refer your complaint on to the Financial Services Ombudsman Service.