Initial Disclosure Document
Belmont Vehicle Leasing are required by the Financial Conduct Authority (FCA), who regulate the financial services industry, of which we are a part, to provide you with an Initial Disclosure Document (IDD) to enable you to decide, whether or not the products and services we offer are suitable for your needs. In addition we are required to advise you on how to make a complaint should you need to do so.
Who are we?
Belmont Vehicle Leasing Ltd is an independent vehicle finance broker, not a lender and is authorised and regulated by the Financial Conduct Authority (FCA) with registered offices at: Suite 5, Turner Business Centre, Greengate, Middleton, Manchester, M24 1RU.
Our Financial Conduct Authority Firm Reference Number is 762197, which can be verified by searching the Financial Services Register at https://register.fca.org.uk or calling the FCA on: 0300 500 8082.
We are a BVRLA Leasing Broker: 9987
We offer a range of vehicle leasing facilities, services and products through a select panel of third party lenders from which we may receive an introductory fee or commission. We will not offer facilities, services or products from lenders outside of this panel.
What Services will we provide you with?
By using our services, you are entering into two separate agreements, a finance agreement, and a leasing broker agreement. We will provide you with either comparable details of firms most appropriate to your lending requirements or general information relating to finance products. In assessing your requirements we may seek 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 enabling us to narrow down the selection of firms and/or products offered, from which you can more easily make your choice.
What do we charge for our Services?
We will charge a broker fee for our brokering services upon receipt of a signed order form. This amount should be discussed with your account manager.
This is payable at order stage, as a contribution to the costs incurred in processing the vehicle finance, from application to agreement, negotiating discounts to secure your preferred vehicle at the best possible price, locating and supplying that vehicle. Payments must be paid via BACs. You should obtain our account details from your account manager.
In the event of a cancellation, whereby a vehicle has been purchased in accordance with your instructions, we may charge a cancellation fee as set out on our Customer Vehicle Order Form.
In the event of a cancellation, whereby a vehicle has been purchased in accordance with your instructions, we may charge a cancellation fee as set out on our Customer Vehicle Order Form. Belmont Vehicle Leasing Ltd reserves the right to levy an extra cancellation fee to cover any consequential loss dependent upon the number of hours spent on dealing with/ processing the order, as part of the Leasing Broker Agreement, as detailed in our Initial Disclosure Document. This payment will be in addition to the Broker fee paid via BACs. Any sums to be deducted as herein stated are a genuine attempt by the Company to assess its loss as a result of the cancellation and is not intended to act as a penalty.
In addition to this Broker fee, by signing a vehicle order, you agree to Belmont Vehicle Leasing Ltd having the right to charge any additional cancellation fees to you. After signing a vehicle order form, any cancellation notification will result in a charge being levied as calculated by the supplying dealer in addition to the equivalent of 2 months of rental Inc VAT payable to Belmont Vehicle Leasing Ltd.
Confidentiality and Data Protection
Throughout the process of obtaining finance for your vehicle agreement we will need to collect personal information from you and pass this information onto one or more third party lenders to enable them to make a credit decision. We will not disclose your personal details outside of this group of lenders and will always seek your authorisation prior to submitting your data to any lender on our panel. We are able to supply a comprehensive list of lenders by request.
Commission Disclosure
We may receive an income from the introduction of our customers to our panel of funders and/or from the supply of vehicles or goods. The commission we receive depends on the type of product offered, manufacturer and finance company used. The income we receive may be pre-set but can also vary and may therefore impact the monthly rental that is payable.
If you are a sole trader, small partnership or consumer you have a legal right to ask us for a disclosure of commission. You may request this at any point during the sales process up until your agreement goes live. From this point we have no obligation to disclose what we have earned from your transaction.
Other Finance Facilities
It might be possible to obtain finance for your vehicle from other lenders/suppliers and you are well within your rights to seek alternative quotations and product choices by researching on the high street, in the media and also on the internet.
Last Reviewed: 21.08.2023
