Initial disclosure document
The Financial Conduct Authority (FCA) is the national independent regulator of financial services. The FCA legally require us to provide you with an ‘Initial Disclosure Document’. This Document has a number of purposes, one of which is to ensure you are provided with essential information about us as a company, what we charge for our services, the products and services we offer and how we are regulated. It will also provide information on what you should do if you have a complaint and any details regarding the Financial Services Compensation Scheme.
About Select Car Leasing
Select Car Leasing is a trading style of Select Contracts UK Limited and is both authorised and regulated by the Financial Conduct Authority (FCA) We provide broker services to customers and work with our finance partners in order to find a suitable vehicle lease agreement for our customers. You can find more about what we do on our dedicated About Us page.
Our Head Office is located in Reading, Berkshire.
As well as our Reading Head office and associated staff, Select Car Leasing (Select Contracts UK Ltd) partners with a number of credit brokers within the UK, these are independent businesses and separate legal entities that act exclusively on our behalf under our brand and are known as ‘Appointed Representatives’ (AR’s). Our AR’s operate under an AR agreement and undergo an application process for permission to operate as an AR that is submitted to and then approved by the *FCA. For more information regarding Appointed Representatives click here
Our ‘AR’ partners use Select Car Leasing systems and adhere to Select Car leasing processes, practices, values and standards. As a ‘Principal’ firm, Select Contracts UK Ltd is responsible for all of the *regulated activity that AR’s conduct on behalf of Select Car Leasing. Select Car Leasing is responsible for monitoring and regularly reviewing the performance of our AR partners.
*see below Who Regulates us?
The products we use
As an FCA regulated credit broker we are able to introduce you to a range of lenders who can help you finance your vehicle and provide any other products/services that you may require, including servicing packages and vehicle maintenance. We work with some of the UK’s most prominent and trusted finance providers in order to help secure you the best and most appropriate deal.
We will provide you with either comparable details of any firms most appropriate to your lending or purchasing needs or any other general information relating to finance products. In order to do this, we may seek personal information about your circumstances and objectives as this may be relevant in order to enable us to identify your exact needs and establish a line of credit. It is always important that you provide us with accurate and relevant information so that we can try and find a product or agreement that is most suitable to you.
The costs of our services, our remuneration and commission
As an FCA licensed organisation we rely purely on commission and extra fees, such as our arrangement fee. The arrangement fee is for our services and is charged at point of order, this fee covers costs incurred by Select Car Leasing i.e. processing the order and lease agreement. If you order a vehicle, you will enter into a lease agreement with one of our partner finance providers/lenders. We are paid a commission by the finance provider/lender, once the agreement is live. The commission we receive maybe pre-set but can vary and may impact the amount payable by the customer. Select Car Leasing are a broker and not a lender and work with multiple suppliers and/or funders - see Finance Options and our Guide to Leasing for more information on the leasing process. If you would like more Information in regard to the disclosure of commission, please email firstname.lastname@example.org.
We also charge an order confirmation fee where availability of a vehicle is 3 months or greater. This fee relates to additional services required for us to monitor the vehicles progress and relay the same onto you. This will be charged at point of order please refer to our terms and conditions for further information or speak to your leasing consultant
Who regulates us?
Select Car Leasing is a trading style of Select Contracts (UK) Ltd and is regulated by the FCA. You can verify this by checking the FCA Register on the website: https://www.fca.org.uk/firms/financial-services-register or contacting them on: 0300 500 8082. Our firm reference number is 670832.
What should I do if I have a complaint?
If you are unsatisfied with the service we provided for any reason then please visit our dedicated Complaints Procedure page.
Firms directly authorised by FCA and the Claims Regulator have a documented complaints procedure and a copy of ours will be made available to you upon request, or if you make a complaint against us. Should you have a complaint, please put it in writing to: The Complaints Team, Pacific House Imperial Way Reading RG2 OTD, telephone 0118 467 8656, or email email@example.com.
In the unlikely event that a complaint remains unresolved after 8 weeks from the date it was made, you may be able to refer it to the Financial Ombudsman Service (FOS), dependent upon the nature of your complaint. The FOS provides a mechanism for resolving disputes which is a simple, informal and accessible alternative to the courts. Their address is: The Financial Ombudsman Service (FOS), Exchange Tower. LONDON E14 9SR. Email: firstname.lastname@example.org. Tel: 0800 023 4567 (free), or 0300 123 9123 (costs no more than calls to 01 and 02 numbers).
The financial services compensation scheme (FSCS)
As with all firms directly authorised by FCA, Select Car Leasing Ltd is covered by the FSCS. This is the body established to operate and administer the compensation scheme, set up by major insurance companies, to compensate consumers when authorised firms are unable, or likely to be able, to satisfy claims against them. Insurance advising and arranging is covered for 100% of the first £2000 and 90% of the remainder of the claim without any upper limit.
Credit Search Information
If you proceed with an order you would have already provided consent for a credit search to be completed as part of the credit application.
The order form will include full details of all costs associated with the lease, initial payment, monthly rentals and details of our upfront costs.
For more information, please read our Fair processing notice and credit search information page here.