Junction 17 Cars Limited is authorised and regulated by the Financial Conduct Authority, FRN: 673249. All finance is subject to status and income. Written quotation on request. We act as a credit broker not a lender. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are only able to offer finance products from these providers. It is our intention to provide a high level of service at all times. However if you have reason to make a complaint about our service you should contact Junction 17 Cars Limited at 1 Kestrel Way, Eagle Business Park, Yaxley, Peterborough,PE7 3GP. If we are unable to resolve your complaint satisfactorily, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). Further information is available by calling the FOS on 0845 080 1800 or at http://www.financial-ombudsman.org.uk
Categories:
A: Consumer credit
D. Debt Adjusting
E. Debt Counselling
Details of our FCA authorisation can be verified by contacting the FCA on 0845 606 1234 or via the FCA’s website http://fca-consumer-credit-interim.force.com
We will undertake an assessment of your demands and needs for Consumer Finance and provide an illustration of the consumer finance product that best suits your personal requirements based upon the answers that you have provided.
We are a credit broker and not a lender. We can introduce you to a limited number of lenders and their finance products which may have different interest rates and charges. We are not an independent financial advisor. We may advise you on the products, subject to your personal circumstances, though you are not obliged to take our advice or recommendation. We do not charge you a fee for our services. Whichever lender we introduce you to, we will typically receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow). The lenders we work with could pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement.
COMMISSION PAYMENTS
A finance lender will pay a commission to Junction 17 Cars Ltd as the broker or dealer who will be setting up your vehicle finance.
Junction 17 Cars Ltd is a dealership, who has a dual role of selling you a vehicle plus acting as a credit broker when arranging your finance.
The commission is paid to the dealer or broker for services provided in facilitating the introduction and arrangement of our finance agreement with you, on behalf of the finance lender.
COMMISSION DETAILS
We want to ensure that you’re aware that a commission will be paid to us by the finance lender. This payment is part of our commercial arrangement with them and may vary based on the terms of the finance agreement. Junction 17 Cars Ltd may works with a limited selection of lenders when arranging finance. Junction 17 Cars Ltd may also have other commercial arrangements with the finance lender which do not influence the terms of your finance agreement.
Please note that because we are receiving a commission, we may not be able to give you an impartial recommendation on finance. A wider range of products and rates may be available elsewhere and you should consider what options are available to you before entering into this finance agreement.
HOW IS THIS COMMISSION CALCULATED?
The commission payable is a one-off payment based on the amount you borrow, specifically calculated as a percentage of the loan amount. The commission is subject to a maximum limit. This commission is paid directly to Junction 17 Cars Ltd by the finance lender and is not an additional charge to you.
The terms of your finance agreement will be based on your credit score, the vehicle you have selected and the deposit you have agreed to pay. If any of these terms change at a later stage of this process - for example, if you are asked to pay a higher deposit, you’ll be provided with details of the final commission amount.
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CUSTOMER CONSENT
By agreeing below, I am confirming that:
• I have read and understood the information provided regarding commission payments; and
• I understand that Junction 17 Cars Ltd will receive a commission from the finance lender and that I have been provided with details of the commission amount and calculations; and
• I give my fully informed consent to this commission payment.
