Initial Disclosure Document
Initial Disclosure Document
The Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) is the national independent regulator of financial services. The FCA legally 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 DCMD Limited T/A Vehiclesavers, 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 DCMD Limited T/A Vehiclesavers
DCMD Limited T/A Vehiclesavers is authorised and regulated by the Financial Conduct Authority (FCA). Our registered address is Unit 2 archers Court, Stukeley Road, Huntingdon, Cambs, PE29 6XG. You can verify our status on the Financial Services Register by visiting the FCA’s website at https://www.fca.org.uk/firms/financial-services-register. Our Financial Conduct Authority Firm Reference Number is 678866.
We are a credit broker and not a lender. We work with manufacturers and our finance partners to provide suitable lease agreements for our clients. We do not provide impartial or independent financial advice or any recommendations connected with finance. We have access to a panel of funders, we also have access to manufacturer finance through a carefully selected panel of dealerships. DCMD Limited T/A Vehiclesavers checks all these funders for the best offering for our customers.
The credit brokering services we provide
As a regulated credit broker, we will provide you with comparable information of any firms that are suitable for your lending or purchasing requirements and any other general information relating to finance products. To ensure we are providing you with the correct information we may seek personal information about your circumstances and objectives. It is important that you provide us with accurate and relevant information so we can produce you with the product and agreement most suitable to you.
The finance products we offer
As a regulated broker we can introduce you to several lenders for vehicle and asset finance. We will only offer products from a carefully selected panel of finance providers. We will not refer you outside of this panel without your consent. Some of the lenders we introduce you to may be able to provide other products and services such as vehicle maintenance however all products we do offer are optional.
The charge for DCMD Limited T/A Vehiclesavers credit brokering services., our renumeration and commission
Processing Fee – DCMD Limited T/A Vehiclesavers charge a processing fee of £250 + VAT business agreements and £300 including VAT for personal agreements for services rendered. These services include sourcing your offer, arranging your finance agreement, providing updates on your vehicle where required and arranging delivery.
Cancellation Fee – We charge a cancellation fee of £360.00 inc. VAT should you cancel your order for the supply of the vehicle, there is no cancellation charge for the supply of the finance, an invoice will be issued when you (the customer) cancel the order, payment should be made within 7 working days. This can be paid by bank transfer, or by debit card.
Contract Extension Fee – At the end of your agreement some lenders will allow you to extend your contract subject to approval. DCMD Limited T/A Vehiclesavers will charge a contract extension arrangement fee of £99 + VAT for business agreements and £118.80 including VAT for personal agreements. This fee is for administering the contract amendment.
The fee is payable via bank transfer or debit card and will be requested on receipt of your signed finance documents detailing the amendment. Not all funders will allow you to extend but for further information please contact us at sales@vehiclesavers.com.
Commission Disclosure – DCMD Limited T/A Vehiclesavers are paid a commission by the funder/lender once the vehicle is delivered, and your contact is live. This commission may be pre-set or fixed by the funder/lender and varies across our panel of funding partners. This may affect the amount payable by you in both your initial rental and monthly rental We will disclose the amount of commission to you prior to any credit searches taking place. In addition to any commission some funders/lenders provide us funds for marketing, or promotional purposes and some suppliers may provide us with a bonus or support that does not affect your monthly rental or initial rental.
We will provide a full Commission Disclosure detailing all avenues and amounts at Order Stage. After credit acceptance has been received and prior to your commitment to sale. This will be included int the T&C of your order confirmation for you to review and provide consent before your order can be finalised.
Who regulates us?
DCMD Ltd T/A Vehiclesavers, Unit 2 Archers Court, Stukeley Road, Huntingdon, Cambs, PE29 6XG is authorised and regulated by the Financial Conduct Authority. Our reference number is 678866. Our permitted business is credit broking and we act as an intermediary to a panel of lenders.
We are a broker member of the (BVRLA) British Vehicle Rental and Leasing Association, our membership number is 1994.
We are registered with the Information Commissioners Office for the purposes of Data Protection, our registration number is Z8232795.
You can check this on the Financial Services Register by visiting the FCA’s website at https://www.fca.org.uk/firms/financial-services-register or by contacting the FCA on 0800 111 6768.
Confidentiality and Data Protection
DCMD Ltd T/A Vehiclesavers is committed to complying with the UK’s Data Protection Law and the EU General Data Protection Regulation (GDPR). Whilst obtaining finance for your vehicle, we will pass your details on to one or more of our finance providers. Their details are available on request. These lenders will need to undertake credit searches with a credit reference agency which may affect your credit rating.
What to do if you have a complaint
We aim to provide you with the highest standards of service, and we are committed to treating our customers fairly, however if you wish to register a complaint please contact us:
Write to DCMD Ltd T/A Vehiclesavers, Unit 2 Archers Court, Stukeley Road, Huntingdon, Cambs, PE29 6XG
By Phone 01480 437982
By Email donna@vehiclesavers.com
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service or the BVRLA. Our complaints procedure is available to view on our website at https://vehiclesavers.com/complaints-procedure
DCMD Ltd T/A Vehiclesavers – Initial Disclosure Document – Version date 13th November 2024