Initial disclosure document
The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority require 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?
We supply brand new vehicles and connect you with lenders who can provide the best finance method for your personal requirements. We will provide you with either comparable details of firms most appropriate to your lending or purchase requirements or general information relating to finance products. In assessing your requirements we may seek such information about your personal circumstances and objectives as might be relevant in order to enable us to identify your needs. It is important that you provide us with accurate and relevant information. You will not receive advice, or a recommendation from us, but we may ask questions to narrow down the selection of firms offered, from which you can more easily make your own choice if you so wish.
Whose products do we use?
As an Financial Conduct Authority regulated credit broker we can introduce you to a range of lenders who may be able to help you finance your vehicle and provide other products/services.
Do we charge for our services?
We offer the very lowest price available, and in return we usually charge an introduction fee.
We may/will charge a fee between £0.00 - £399.00+vat for our brokering services. This will be invoiced to you as an administration fee after your application has been accepted and only refunded if for any reason the vehicle order cannot be placed. This fee will not be refunded if you decide to cancel for any reason after your order is placed.
Cancellation charges may/will be charged separate to this if NewCarsOnline.co.uk is charged following your decision to cancel. NewCarsOnline.co.uk may/will request an ‘upfront financial commitment’ of between £0.00 - £1,000.00 (not subject to VAT) which will be refunded in full, only following successful delivery. This is required if the vehicle order can only be processed with financial commitment. Should you cancel the order and NewCarsOnline.co.uk is charged for this cancellation, the ‘upfront financial commitment’ of between £0.00 - £1,000.00 (not subject to VAT) will be used to cover any cancellation charges. Any remaining amount will be refunded once this has been settled.
Who regulates us?
Online Motor Group Ltd T/A NewCarsOnline.co.uk is authorised and regulated by the Financial Conduct Authority. Our firms reference number is 722489. You can verify this on the Financial Conduct Authority's Register by visiting the Financial Conduct Authority's website: http://www.fca.org.uk/register/ or by contacting them on 0300 500 8082.
Other services we offer are not regulated by the Financial Conduct Authority however the Financial Ombudsman Services has now been extended to handle some complaints under the Consumer Credit Act.
If you have a complaint:
Please visit our complaints procedure page.