Jordans Motors Ltd - FINANCE COMMISSION DISCLOSURE – 30/10/2024
We act as a non-independent credit intermediary for a limited number of lenders, which includes Evolution Finance Ltd. An introduction to a lender does not amount to independent financial advice.
Our approach is to introduce you first to Evolution Finance Ltd, who are a Finance Broker and use a panel of lenders, they will offer the best Finance package that is available to you, taking into account interest rates, other contributions, and your personal circumstances. Our aim is to secure the best deal you are eligible for.
We do not charge you a fee. Whichever lender we introduce you to, we are likely to receive a commission from them (Either a fixed fee or a fixed percentage of the amount you borrow), the value of Commission paid will be notified to you before the Finance Agreement has been finalised. The amount paid to us does not affect the amount you pay under your credit agreement.
The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.
If you want finance, we act as a credit broker and not as a lender. We are not an independent financial advisor and do not act for you. We will not give you any advice or recommendations. It is up to you to decide whether the agreement we offer to you is suitable for your needs.
We can only make introductions to a limited number of lenders (which we explain below). Each may offer different finance products (for example, CONTRACT HIRE, HIRE PURCHASE, LEASE PURCHASE, PERSONAL CONTRACT HIRE, PERSONAL CONTRACT PURCHASE (PCP)). We have different arrangements with each of those lenders meaning the offer of finance we tell you about may be influenced by those arrangements (meaning we may choose one option over another because it suits us). We are paid different amounts of commission depending on who we introduce you to.
We work with the following lenders with the following commission models:
We also work with the following credit brokers who have access to other lenders. Those other credit brokers and their commission models are:
There may be other providers who offer similar finance. You may be able to arrange your own finance, however we are not obligated to accept third-party arrangements so please check with us first as we may charge an additional fee. You may be able to get a better deal by shopping around. You therefore need to make up your own mind before entering into any finance agreement. You should ask all of the questions you want to ask before entering into any finance agreement.
We will review suitable finance products for you after we have assessed your needs for;
You are not obliged to agree with our recommendations or to make any purchase of a finance product. You may obtain free, unbiased guidance from the Money Advice Service at www.moneyadviceservice.org.uk or Your Impartial Guide to Car Finance at www.financingyourcar.org.uk.
If we introduce you for a finance product, you’ll make no payment to us.
Instead, we will usually receive a commission from the lender or credit broker that we introduce you to. We will provide you with further information on the commission arrangement and how it is calculated, before you enter into any finance agreement.
You will be asked to confirm you’re happy for it to be paid to us.
There are usually two ways in which we'll be paid commission:
The amount of commission we receive will not affect the amount that you pay under your agreement. You will not pay it to us.
The exact amount of finance commission received by Jordans Motors Limited will be confirmed prior to you signing your finance agreement.
Jordans Motors Limited is an appointed representative of Automotive Compliance Limited who is authorised and regulated by the Financial Conduct Authority. Automotive Compliance Ltds' FCA Register number is 497010. Automotive Compliance's permitted business is to act as a Principal Firm for a network of motor dealer Appointed Representatives' who act as Credit Brokers for the introduction to finance providers, acting on behalf of the lender. You can check this on the Financial Services Register by visiting the FCA's website https://register.fca.org.uk/ or by contacting the FCA on 0300 500 8082.
If you wish to register a complaint, please contact us;
If we cannot resolve your complaint within 8 weeks, you may refer your dispute to the Financial Ombudsman Service.
This service is free to use. Their consumer helpline is available on 0300 123 9123 or you can visit their website at www.financial-ombudsman.org.uk.
Jordans Motors Limited is also governed by the Data Protection Act (2018). This ensures any information you give us is managed in a secure and confidential manner. This information may be passed to other groups or affiliated members including those company(s) detailed in Section 2 above. Without this information Jordans Motors Limited is unable to process your order or enquiry. Under the Data Protection Act you may apply to have this information restricted or removed at any time by telling Jordans Motors Limited via phone on 01482 222500 or in writing to Jordans Motors Limited, Jordans, 45-52 Witham, Hull, HU9 1BS.
Jordans Motors Ltd reg no. 07522497: 2 Humber Quays, Wellington Street West, Hull HU1 2BN. T/A 45-52 Witham, Hull HU9 1BS. VAT Reg No GB 168 1253 62 FRN, No. 1033955. Jordans Motors Limited is an Appointed Representative of Automotive Compliance Ltd who is authorised and regulated by the Financial Conduct Authority (FCA No. 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Jordans Motors Limited to act as a credit broker, not a lender, for the introduction to a limited number of lenders. We are a credit broker and not a lender. We can introduce you to a lender on our panel. We may also work with credit brokers who have access to other lenders. We have commercial arrangements with lenders and credit brokers which are likely to influence who we introduce you to. We are not an independent financial adviser and don’t give you any advice or recommendations. It is your choice whether you enter into any finance agreement. We will usually receive a commission for your introduction. This will be either a fixed fee, or a fixed percentage of the amount that you borrow. Before we propose you to a potential lender, we will tell you of the likely amount of commission we will receive and seek your consent to receiving this commission. The exact amount of commission will be confirmed before you sign your finance agreement. All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.
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