Initial Disclosure
The Financial Conduct Authority (FCA) is the independent regulator of financial services. The FCA require us to provide you with an Initial Disclosure Document to help you decide if our services are right for you. This document provides information about Vehicle Procurement Solutions Ltd trading as Uknewcars, 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.
About Vehicle Procurement Solutions Ltd trading as Uknewcars
Vehicle Procurement Solutions Ltd trading as Uknewcars is authorised and regulated by the Financial Conduct Authority. We provide motor vehicle finance brokerage services to customers via a third-party finance partner. Our registered address is Unit 3, East Carleton Business Centre, Rectory Road, East Carleton Norwich, NR14 8HT. Our Financial Conduct Authority Firm Reference Number is 622159. You can verify our status on the Financial Services Register by visiting the FCA’s website at www.fca.org.uk or by contacting the contact centre on 0845 606 9966.
The services we provide.
We will provide you with finance examples from full franchised dealerships using the most up to date campaigns from the manufacturer you have enquired upon, appropriate to your lending or purchase requirements, or general information relating to finance products.
If you want to investigate other finance products such as Contract Hire, Personal Contract Hire, Lease Purchase or Hire Purchase other finance partners will be introduced to provide quotations on the requested finance product.
In assessing your requirements, we may seek such information about your personal circumstances and objectives to enable us to identify your needs. It is important that you provide us with accurate and relevant information so that we can try to match you with the most suitable product.
The products we use.
As a Financial Conduct Authority regulated credit broker, we only introduce you to the fully franchised dealership and FCA registered finance partners able to help you finance your vehicle. We will not refer you outside of this panel. We will receive financial remuneration from introducing business to the manufacturer funders and other FCA registered finance partners . When ordering your vehicle with us you will enter into an agreement with a carefully fully franchised dealership and/or FCA registered finance partners.
We are paid a commission from the selected fully franchised dealership or FCA registered finance partners only at the point your car is delivered, the value of this commission can impact the amount payable by the customer and can vary, other commission values are pre-set and do not impact on the amount payable by a customer.
The charge for our services
All quotes include a commission for our services. The commission is calculated from the vehicle list price and factory options before VAT and is invoiced after the vehicle’s delivery.
If a lease agreement is taken via one of our FCA registered finance partners a commission will be agreed with them for the introduction of you as a customer of ours.
The regulator
Vehicle Procurement Solutions Ltd trading as Uknewcars is authorised and regulated by the Financial Conduct Authority. Unit 3, East Carleton Business Centre, Rectory Road, East Carleton Norwich, NR14 8HT. Our Financial Conduct Authority Firm Reference Number is 622159.
You can check this on the Financial Services Register byvisiting the FCA’s website at www.fca.org.uk or by contacting the contact centre on 0845 606 9966.
Dispute Resolution and Complaints
Advisor or provider
Clients often express dissatisfaction to their adviser about the product provider. We will need to establish whether or not your complaint relates to the advice given, the adviser service or the service or performance of the product provider. If unclear, this must not delay investigation and we will proceed with our own investigation. The complaints manager will review this matter and take the complaint to the provider if appropriate in consultation with you.
We strive to provide the highest levels of service at all times. However, if you are unhappy with our service and you wish to register a complaint, please contact us:
In writing Complaints Department, Unit 3, East Carleton Business Centre, Rectory Road, East Carleton Norwich, NR14 8HT.
By phone: Tel: 01508 571385
By email: enquiries@uknewcars.com
To help us resolve your problem, you should provide the following information:
Your full name and contact information
Full details of your complaint
We will answer any complaints as quickly as possible but always within eight weeks.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
A copy of our full complaints procedure is also available here: Complaints Procedure
The Financial Services Compensation Scheme (FSCS)
You may also be entitled to compensation from the Scheme if we are unable to meet our obligations. This depends on the type of business and the circumstances of the claim. Further information about compensation scheme arrangements is available from the FSCS.