Initial disclosure document
Introduction
This document sets out how we will deal with you in the provision of services for Credit Broking and explains factors that you should consider.
Regulation
The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority require us to provide you with a document called an 'Initial Disclosure Document'. This document provides information about us, the products we offer, the services we will provide, what we charge for our services, who regulates us and what to do if you have a complaint.
Car Leasing Contracts is a trading style of VIP Gateway Limited Ltd. VIP Gateway limited is authorised and regulated by the Financial Conduct Authority 619198.
You can check this in the Financial Conduct Authority's Register by visiting the Financial Conduct Authority's website or by contacting the Financial Conduct Authority on 0800 111 6768.
Who are we?
We are a broker not a lender and our registered office is VIP Gateway, 1 Spring Court, Spring Road, Hale, Cheshire, WA14 2UQ. Our contract number is 0161 260 4038. All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
Registered in England & Wales with company number : 08919886 | Data Protection No : ZA158071 | VAT No : 206689977
Registered Office : 1 Spring Court, Spring Road, Hale, Cheshire, WA14 2UQ.
VIPGateway.co.uk - hello@vipgateway.co.uk - 0161 260 4038
VIP Gateway Limited a credit broker not a lender.
What do we offer?
We will at all times act in your best interests, we will source finance from our panel of third party finance providers, which is suitable for the requirements you disclose to us. We will not offer facilities from lenders outside of this panel. When the preferred option has been agreed, we will provide you with information about the finance and the provider of this to ensure you understand your responsibilities and commitments, before proceeding.
We may receive a commission or other benefits from one of our finance providers should you decide to enter into an agreement with them as a result of our introduction or, from another credit broker to whom we refer you should we be unable to arrange funding for you. This is reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders may also pay us an additional commission based on business volumes. If you would like more information regard to the disclosure of commissions, please e-mail hello@vipgateway.co.uk
Our aim is to supply you with a professional and confidential service that delivers the highest possible standards. However, there may be occasions where you feel this has not been achieved and should you wish to make a complaint about any aspect of the service we provide to you, you can do this by writing to VIP Gateway, 1 Spring Court, Spring Road, Hale, Cheshire, WA14 2UQ. by telephoning us on 0161 814 9623, further information regarding complaints procedures can be found on our website.
Dispute Resolution and Complaints
We work hard to ensure that the services we offer are fair and that our communication to our customers is clear and not misleading. However, if you are unhappy with our service and you wish to register a complaint, please contact us:
…in writing: Spring Court, 1 Spring Road, Hale WA14 2UQ
… by phone 0161 814 9623
… by email hello@vipgateway.co.uk
To help us resolve your problem, you should provide the following information:
- Your full name and contact information
- Full details of your complaint
- Your lease agreement details
- Details of what you would like us to do to put things right
- Photocopies of any relevant paperwork
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 or the BVRLA (British Vehicle Leasing & Rental Association.
A copy of our full complaints procedure is also available in our complaints procedure.
What do we charge for our services?
We are a commission and fee based organisation which means that we may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with us. These fees may be variable or pre-set dependent on the product and the volume that we place with the chosen supplier.
Processing Fee - We charge a processing fee of up to £289 including VAT for our services. The processing fee is the broker fee charged by VIP Gateway Limited for our service and represents the costs incurred for arranging the sale, ordering the vehicle, arranging the finance and organising delivery of the vehicle. This processing fee is payable by debit or credit card or by BACs payment. This fee, along with a signed order form instructs us to place an order on your behalf.
Confidentiality and data protection
As part of the process of obtaining finance and non-investment insurance products for your vehicle we will need to pass your details on to one or more of our finance/insurance providers. A list of these partners is available on request together with their FCA firm reference numbers. Any organisation approached to arrange credit will need to undertake credit searches with a credit reference agency which could affect your credit rating. All our calls are recorded for training and monitoring purposes.
Finance Products
As a Financial Conduct Authority regulated credit broker, we may introduce you to a range of finance providers who may be able to help you finance your vehicle and provide other products/services, such as vehicle maintenance and servicing packages.
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. You can ask us for a list of the suppliers who provide our finance and insurance products. All the products we offer are optional.
We may receive a commission or other benefits from one of our finance providers should you decide to enter into an agreement with them as a result of our introduction or, from another credit broker to whom we refer you should we be unable to arrange funding for you. This is reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders may also pay us an additional commission based on business volumes. If you would like more information regard to the disclosure of commissions, please e-mail hello@vipgateway.co.uk
Suitability of Finance?
In certain circumstances asset finance may not be suitable for your needs. When deciding whether or not to obtain asset finance you should consider:
- You are required to continue to pay for the equipment for the agreed period / payment even if you no longer need / use the equipment.
- Should you wish to change the equipment during the agreed period you may be required to settle the agreement or pay higher charges.
- Finance may be unsuitable if you are unsure whether: i) You will need the equipment for the agreed period ii) The equipment will be maintained and can kept in a useable condition for the agreed period iii) You would be unable to return the equipment upon conclusion of the agreement.
For further information in relation to factors affecting suitability, please refer to the Guidance published by the Institute of Credit Management, "Managing Cash When it's Time to Invest".
Vehicle Maintenance
If you have opted for a non-maintained contract, you will be responsible for any maintenance in line with the Manufacturers servicing and maintenance recommendations according to their website and vehicle handbook. This will be at your cost.
Vehicle Suitability
Before committing to an order, it is important that you check that the vehicle meets your requirements, including transmission type. We recommend that you visit your local Main Dealer to test drive the vehicle before placing an order.
Adhering to the emissions standards for new cars means that almost all diesel vehicles are now fitted with a DPF. This is a technology which is designed to catch soot in the exhaust and as a result prevent it from entering the environment. To keep everything running smoothly, the filter needs to be regularly emptied using a process known as regeneration. This is when the soot is burnt off at a high temperature, leaving just a small residue of ash. It’s a process that takes place automatically when driving at motorway speeds because the exhaust reaches a high enough temperature for the regeneration process to occur. On the other hand, if a vehicle is mainly driven for shorter distances, at slower speeds, the cleaning process will not take place frequently enough to keep the filter clean. In these circumstances, most vehicles will initiate a forced regeneration by boosting the exhaust temperature to a point where regeneration will occur. However, this can mean that you need to keep driving for 10 minutes or so at speeds greater than 40mph until the process is complete and the warning light clears.
If the warning light is ignored, soot levels will continue to rise and the vehicle may enter a ‘restricted performance mode’ in order to limit any further damage. At this point, the vehicle will need professional attention to clean or even replace the DPF. This is not covered by either your warranty or any maintenance agreement. To protect your DPF and keep it running smoothly, it is important to follow the guidance found in your vehicle handbook and, if any warning lights come on, take the recommended action immediately.
This document sets out how we will deal with you in the provision of services for Credit Broking and explains factors that you should consider.
Regulation
The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority require us to provide you with a document called an 'Initial Disclosure Document'. This document provides information about us, the products we offer, the services we will provide, what we charge for our services, who regulates us and what to do if you have a complaint.
Car Leasing Contracts is a trading style of VIP Gateway Limited Ltd. VIP Gateway limited is authorised and regulated by the Financial Conduct Authority 619198.
You can check this in the Financial Conduct Authority's Register by visiting the Financial Conduct Authority's website or by contacting the Financial Conduct Authority on 0800 111 6768.
Who are we?
We are a broker not a lender and our registered office is VIP Gateway, 1 Spring Court, Spring Road, Hale, Cheshire, WA14 2UQ. Our contract number is 0161 260 4038. All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
Registered in England & Wales with company number : 08919886 | Data Protection No : ZA158071 | VAT No : 206689977
Registered Office : 1 Spring Court, Spring Road, Hale, Cheshire, WA14 2UQ.
VIPGateway.co.uk - hello@vipgateway.co.uk - 0161 260 4038
VIP Gateway Limited a credit broker not a lender.
What do we offer?
We will at all times act in your best interests, we will source finance from our panel of third party finance providers, which is suitable for the requirements you disclose to us. We will not offer facilities from lenders outside of this panel. When the preferred option has been agreed, we will provide you with information about the finance and the provider of this to ensure you understand your responsibilities and commitments, before proceeding.
We may receive a commission or other benefits from one of our finance providers should you decide to enter into an agreement with them as a result of our introduction or, from another credit broker to whom we refer you should we be unable to arrange funding for you. This is reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders may also pay us an additional commission based on business volumes. If you would like more information regard to the disclosure of commissions, please e-mail hello@vipgateway.co.uk
Our aim is to supply you with a professional and confidential service that delivers the highest possible standards. However, there may be occasions where you feel this has not been achieved and should you wish to make a complaint about any aspect of the service we provide to you, you can do this by writing to VIP Gateway, 1 Spring Court, Spring Road, Hale, Cheshire, WA14 2UQ. by telephoning us on 0161 260 4038, further information regarding complaints procedures can be found on our website
Dispute Resolution and Complaints
We work hard to ensure that the services we offer are fair and that our communication to our customers is clear and not misleading. However, if you are unhappy with our service and you wish to register a complaint, please contact us:
…in writing: Spring Court, 1 Spring Road, Hale WA14 2UQ
… by phone 0161 260 4038
… by email hello@vipgateway.co.uk
To help us resolve your problem, you should provide the following information:
- Your full name and contact information
- Full details of your complaint
- Your lease agreement details
- Details of what you would like us to do to put things right
- Photocopies of any relevant paperwork
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 or the BVRLA (British Vehicle Leasing & Rental Association.
A copy of our full complaints procedure is also available in our complaints procedure.
What do we charge for our services?
We are a commission and fee based organisation which means that we may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with us. These fees may be variable or pre-set dependent on the product and the volume that we place with the chosen supplier.
Processing Fee - We charge a processing fee up to £360 including VAT for our services. The processing fee is the broker fee charged by VIP Gateway Limited for our service and represents the costs incurred for arranging the sale, ordering the vehicle, arranging the finance and organising delivery of the vehicle. This processing fee is payable by debit or credit card or by BACs payment. This fee, along with a signed order form instructs us to place an order on your behalf. The amounts that we receive may vary. The amount we receive in commission may impact your monthly payment/amount paid. At VIP Gateway we operate with 100% complete transparency. If you would like to request commission received for your specific lease agreement with us, we are happy to share this information. Please email hello@vipgateway.co.uk to request this.
Confidentiality and data protection
As part of the process of obtaining finance and non-investment insurance products for your vehicle we will need to pass your details on to one or more of our finance/insurance providers. A list of these partners is available on request together with their FCA firm reference numbers. Any organisation approached to arrange credit will need to undertake credit searches with a credit reference agency which could affect your credit rating. All our calls are recorded for training and monitoring purposes.
Finance Products
As a Financial Conduct Authority regulated credit broker, we may introduce you to a range of finance providers who may be able to help you finance your vehicle and provide other products/services, such as vehicle maintenance and servicing packages.
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. You can ask us for a list of the suppliers who provide our finance and insurance products. All the products we offer are optional.
We may receive a commission or other benefits from one of our finance providers should you decide to enter into an agreement with them as a result of our introduction or, from another credit broker to whom we refer you should we be unable to arrange funding for you. This is reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders may also pay us an additional commission based on business volumes. If you would like more information regard to the disclosure of commissions, please e-mail hello@vipgateway.co.uk
Suitability of Finance?
In certain circumstances asset finance may not be suitable for your needs. When deciding whether or not to obtain asset finance you should consider:
- You are required to continue to pay for the equipment for the agreed period / payment even if you no longer need / use the equipment.
- Should you wish to change the equipment during the agreed period you may be required to settle the agreement or pay higher charges.
- Finance may be unsuitable if you are unsure whether: i) You will need the equipment for the agreed period ii) The equipment will be maintained and can kept in a useable condition for the agreed period iii) You would be unable to return the equipment upon conclusion of the agreement.
For further information in relation to factors affecting suitability, please refer to the Guidance published by the Institute of Credit Management, "Managing Cash When it's Time to Invest".
Vehicle Maintenance
If you have opted for a non-maintained contract, you will be responsible for any maintenance in line with the Manufacturers servicing and maintenance recommendations according to their website and vehicle handbook. This will be at your cost.
Vehicle Suitability
Before committing to an order, it is important that you check that the vehicle meets your requirements, including transmission type. We recommend that you visit your local Main Dealer to test drive the vehicle before placing an order.
Adhering to the emissions standards for new cars means that almost all diesel vehicles are now fitted with a DPF. This is a technology which is designed to catch soot in the exhaust and as a result prevent it from entering the environment. To keep everything running smoothly, the filter needs to be regularly emptied using a process known as regeneration. This is when the soot is burnt off at a high temperature, leaving just a small residue of ash. It’s a process that takes place automatically when driving at motorway speeds because the exhaust reaches a high enough temperature for the regeneration process to occur. On the other hand, if a vehicle is mainly driven for shorter distances, at slower speeds, the cleaning process will not take place frequently enough to keep the filter clean. In these circumstances, most vehicles will initiate a forced regeneration by boosting the exhaust temperature to a point where regeneration will occur. However, this can mean that you need to keep driving for 10 minutes or so at speeds greater than 40mph until the process is complete and the warning light clears.
If the warning light is ignored, soot levels will continue to rise and the vehicle may enter a ‘restricted performance mode’ in order to limit any further damage. At this point, the vehicle will need professional attention to clean or even replace the DPF. This is not covered by either your warranty or any maintenance agreement. To protect your DPF and keep it running smoothly, it is important to follow the guidance found in your vehicle handbook and, if any warning lights come on, take the recommended action immediately.
