Initial Disclosure Document

You know the drill… Autorama UK is authorised & regulated by the Financial Conduct Authority or FCA…

But instead of this whole page being just about the legal stuff, we want to quickly explain how us being FCA regulated benefits you. It means:

  1. We will treat you fairly – it’s how we’ve always done business, always will.
  2. Our products & services are designed to work for you, because that’s what matters.
  3. We’ll keep you informed at every step. If you’re out the loop, we’ve messed up.
  4. Our advice fits YOUR circumstances, because you’re the customer.
  5. Everything we do works how we say it will work – no half-truths or hidden costs, ever.
  6. No barriers. If you want to leave, complain or switch providers we don’t make it difficult.

The rest of this page is the legal stuff you should look at when you get a chance… but the important bits are in the 6 points above.

 

The Legal Bit

Autorama UK Ltd (based at Maylands Avenue, Hemel Hempstead, HP2 7DE) also trades as Vanarama, Motorama, Vanarama Cars, Vanarama Insurance Services & Pickup Trucks Direct and is authorised & regulated by the Financial Conduct Authority.

Our FCA Register number is 630748, and our permitted business is credit brokerage, entering into regulated consumer hire agreements as owner, debt administration, counselling & adjusting, & general insurance.

You can check this in the FCA's Register by visiting the Financial Conduct Authority's website www.fsa.gov.uk/register or by contacting the FCA on 0800 111 6768.

 

Consumer Credit Services

The FCA is the independent regulator of financial services. Autorama UK Ltd is authorised & regulated by the FCA (our registration number is 630748) & is permitted to advise on & arrange consumer credit contracts.

Whose Consumer Credit Do We Offer As A Broker?

As an FCA-regulated credit broker, we can introduce you to a selected group of lenders who may be able to help you finance your vehicle. This group of lenders provides us with a range of products which may be suitable for you (we will explain the key features of those products to you).

Which Service Will We Provide?

We will take steps to ensure that, when we advise you, we will only recommend something that will be suitable for your demands & needs at the time we make it.

In assessing those needs/demands we may seek information about your personal circumstances & objectives to help identify your requirements. It is important that you provide us with accurate & relevant information.

What Will You Have To Pay Us?

We charge £165 plus VAT for business customers & £198 including VAT for personal customers. This is per order for our Consumer Credit Services. This is payable when you decide to lease a vehicle or enter into an agreement. This amount will be taken from your Vehicle Reservation Fee.

The Vehicle Reservation Fee must be paid before your order is processed. This can be paid by debit or credit card. The reminder of the Vehicle Reservation Fee will be refunded to you on the day your vehicle is delivered & will reach your account in 3 to 5 working days.

Should you decide to cancel your order, the full Vehicle Reservation Fee will be refunded to you. Some of our lenders may charge an administration fee to set up your agreement. We may receive a commission or other benefits from finance providers should you decide to enter into an agreement with the finance provider we have introduced you to.

 

General Insurance Services

Autorama UK Ltd is authorised & regulated by the FCA (our registration number is 630748) & is permitted to arrange general insurance services, under the trading name of Vanarama Insurance Services.

Whose General Insurance Do We Offer?

GAP Insurance: we offer Finance GAP insurance from a single provider. These policies are administered by Premia Solutions Limited, 3 Corunna Court, Corunna Road, Warwick, Warwickshire, CV34 5HQ, FCA no 310089.

Van & Car Motor Insurance: we offer motor insurance from a number of insurers (and associated add-on products). These insurers are regulated themselves, & their details are provided by us when we supply a quote & on any issued certificate of insurance.

Which Service Will We Provide?

You will not receive advice or a recommendation from us for General Insurance. We will need to ask you some questions to narrow down the selection of products and/or insurers that we will provide details on. You will need to make your own choice about how to proceed.

What Will You Have To Pay Us?

We charge a broker fee for our insurance-related services. We may receive a commission from the product provider & from the provider of this credit facility (if you decide to pay by instalments).

We hold any insurance money (premiums, refunds or claims money) as the agent of the insurer under a risk transfer agreement.

 

Confidentiality & Data Protection

As part of the process of obtaining finance for your vehicle, we need to pass your details on to one or more of our finance partners. A list of these partners and their consumer credit licence numbers is available on request. Any organisation approached for credit will need to undertake credit searches with a credit reference agency which may affect your credit rating.

As part of the process of obtaining finance for your insurance premium (if you decide to pay by instalments) we will need to undertake a credit search – this will not affect your credit score but will be available to other credit providers.

 

Got A Complaint?

We are committed to treating our customers fairly – before, during & after a sale.

Before the sale you can expect:

  • To have any significant & unusual exclusions or exceptions to the policy brought to your attention.
  • A clear statement of price, including – where applicable – a breakdown of any interest charges.
  • Details of your cancellation rights & our complaints procedure.
  • Copies of your policy documentation or information as to when these documents will be dispatched.

After the sale you can expect:

  • Not to encounter any barriers to cancelling your policy within regulatory agreed timeframes.
  • To have any complaint dealt with in a timely & professional manner.
  • If at any time you feel you have not been treated fairly by any member of our staff, please contact us at the address or telephone number above.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Write to the Financial Ombudsman Service at this address: South Quay Plaza, 183 Marsh Wall, London E14 9SR, or call them on 0800 023 4567.