Initial Disclosure Document
About Our Finance and Commission Disclosure
NewCarsOnline acts as an intermediary authorised and regulated by the Financial Conduct Authority (FCA) for the purpose of credit broking. Our role is to connect you with approved finance partners who may be able to support your vehicle funding needs, as well as offer additional services such as servicing package and maintenance packages.
We work with a curated group of finance providers and only recommend products from this panel. If we believe a solution outside of this group would suit you better, we will seek your permission before proceeding. You can request a full list of our finance and insurance providers at any time. All the services we offer are entirely optional, and there is no obligation to purchase them.
The finance offers you see advertised on our site reflect standout deals from our lending panel, chosen for their overall value based on criteria like term length and annual mileage. If you’d like to know the name of the lender associated with a particular quote, just ask we’re happy to provide that information at the quotation stage.
Should you choose to proceed with a finance agreement through one of our introductions, we will receive commission or receive other benefits from the lender involved. If we refer you to another credit broker because we’re unable to provide finance directly, we may also receive a fee from them.
Commission amounts can vary depending on which lender or supplier is chosen, the specific terms of your finance agreement, and performance factors like customer satisfaction or volume of business. In some cases, additional bonuses may apply from our partners based on overall performance.
Before your finance documents are sent to you, we will clearly explain who is paying the commission and how much we’re receiving. You may be asked to confirm in writing that you understand and accept this information before we proceed.
At NewCarsOnline, we may receive a commission or other forms of benefit from one of our finance partners if you choose to proceed with a finance agreement following our introduction. If we are unable to arrange finance for you directly, we may refer you to another credit broker, from whom we may also receive a commission.
In some cases, we may also receive a commission from the vehicle supplier. These payments may influence the monthly lease or finance rate you are quoted. The amount we receive can vary depending on the finance provider or vehicle supplier, the terms of the agreement, and performance-based factors such as customer service ratings or volume targets.
We are committed to transparency. Before your finance agreement is sent to you, we will clearly disclose the amount of commission we are receiving and identify the provider making the payment. We will also request your consent to proceed. In some cases, you may be asked to sign a document confirming your understanding and acceptance of this disclosure.
If you would like further information regarding how commissions work or would like to see a copy of our full Commission Disclosure Policy, please email us at sales@newcarsonline.co.uk.
About NewCarsOnline
NewCarsOnline is a trading style of Online Motor Group Ltd and is both authorised and regulated by the Financial Conduct Authority (FCA) We provide broker services to customers and work with our finance partners in order to find a suitable vehicle lease agreement for our customers. You can find more about what we do on our dedicated About Us page.
Our Head Office is located in Caistor, Lincolnshire.
Appointed Representatives
As well as our Caistor Staff and associated staff, Online Motor Group Ltd T/A NewCarsOnline.co.uk partners with a number of credit brokers within the UK, these are independent businesses and separate legal entities that act exclusively on our behalf under our brand and are known as ‘Appointed Representatives’ (AR’s). Our AR’s operate under an AR agreement and undergo an application process for permission to operate as an AR that is submitted to and then approved by the *FCA.
*see below Who Regulates us?
The products we use
As an FCA regulated credit broker we are able to introduce you to a range of lenders who can help you finance your vehicle and provide any other products/services that you may require, including servicing packages and vehicle maintenance. We work with some of the UK’s most prominent and trusted finance providers in order to help secure you the best and most appropriate deal.
Our services
We will provide you with either comparable details of any firms most appropriate to your lending or purchasing needs or any other general information relating to finance products. In order to do this, we may seek personal information about your circumstances and objectives as might be relevant in order to enable us to identify your exact needs and establish a line of credit. It is always important that you provide us with accurate and relevant information so that we can try and find a product or agreement that is most suitable to you.
What are the costs for our services?
At NewCarsOnline, we charge a processing fee of £330 including VAT (£275 excluding VAT) for our credit broking services. This fee reflects the costs involved in arranging the sale, ordering the vehicle, coordinating the finance process, and organising the delivery of your new vehicle.
The processing fee is payable via debit card, credit card, or BACS transfer. It is charged only after your finance application has been approved and all relevant paperwork has been signed, instructing us to proceed with your order.
This fee ensures we can provide a professional, efficient, and transparent service throughout your leasing journey. If you have any questions about the processing fee, our team is here to help.
Who regulates us?
Online Motor Group Ltd T/A NewCarsOnline.co.uk is regulated by the FCA. You can verify this by checking the FCA Register on the website: https://www.fca.org.uk/firms/financial-services-register or contacting them on: 0300 500 8082. Our firm reference number is 722489.
What should I do if I have a complaint?
If you are unsatisfied with the service we provided for any reason then please visit our dedicated Complaints Procedure page.
Firms directly authorised by FCA and the Claims Regulator have a documented complaints procedure and a copy of ours will be made available to you upon request, or if you make a complaint against us. Should you have a complaint, please put it in writing to: The Complaints Manager, Unit 9, Enterprise Road, Caistor , LN6 7PX telephone 01472 563600, or email sales@newcarsonline.co.uk.
In the unlikely event that a complaint 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 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. Email: complaint.info@financial-ombudsman.org.uk. Tel: 0800 023 4567 (free), or 0300 123 9123 (costs no more than calls to 01 and 02 numbers).
The financial services compensation scheme (FSCS)
As with all firms directly authorised by FCA, Online Motor Group Ltd T/A NewCarsOnline.co.uk is covered by the FSCS. This is the body established to operate and administer the compensation scheme, set up by major insurance companies, to compensate consumers when authorised firms are unable, or likely to be able, to satisfy claims against them. Insurance advising and arranging is covered for 100% of the first £2000 and 90% of the remainder of the claim without any upper limit.