Status Disclosure

Frequently asked questions

Who are we?

First Vans Direct, a dealership acting as a credit broker in arranging finance for vehicle transactions.

Are we authorised to arrange finance for you?

Yes, we are authorised and regulated for credit-broking activities by the Financial Conduct Authority ("FCA"). We are not a lender. Our FCA Firm Reference Number is 662977. For more information, please visit the FCA website at: https://register.fca.org.uk/. Please note that business customers may not be protected under the Consumer Credit Act 1974 or FCA rules.

What can we do to help finance your vehicle?

We can introduce you (whether direct or through a specialist credit broker) to a number of finance companies ("funders") who may be able to finance your transaction. There are other funders to which we cannot introduce you which may also be able to offer you finance.

We will provide you with information and explanations about the finance products that may be available to you. Finance is arranged subject to status and terms and conditions.

We cannot guarantee that we will be able to secure finance for you.

Can we give you independent financial advice?

We are not independent financial advisers and so are unable to provide you with independent financial advice.

Do you have to pay for our service?

No, you make no payment to us

But a funder or broker we work with may pay us for introducing you to them. Different funders/brokers may pay us different amounts. We will tell you how much we will be paid if you ask.

How will we use your information?

We will use your information to obtain quotes from funders and brokers to process finance applications through them and we and/or they may also conduct a search of your record held with one or more credit reference agencies Credit checks may as a result appear on your credit file lodged by organisations with whom you have not dealt directly. The personal information collected will also be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected you could be refused certain services, finance or employment.

Further details of how your information will be used by us, funders and these fraud prevention agencies, and your data rights can be found here:

https://www.vans-direct.com/privacy-policy.php A full data protection notice/ privacy policy will be provided to you before we submit any application for finance on your behalf.

What can you do if you wish to complain about our services or contact us?

If you wish to make a complaint, please contact us:

  • by writing to us at Complaints, First Vans Direct, 57 London Road, Edinburgh, EH7 6AA
  • by emailing 0131-661-0619 [email protected]; or
  • by telephoning 0131 449 4098

If, after making a complaint to us you are still unhappy and feel the matter has not been resolved to your satisfaction, please contact the Financial Ombudsman Service ("FOS" - www.financial-ombudsman.org.uk). Please note that FOS may not be able to deal with complaints from business customers.

If you require further information, please contact us by telephoning the above number(s) or emailing us at [email protected], addressing your correspondence to Tony Singh.

Commission Disclosure

We are a credit broker not a lender. We can introduce you to a limited number of lenders and their finance products, we act as their agent for this introduction. We are not an independent financial advisor, we will provide details of products available. We may advise you on the products, subject to your personal circumstances, though you are not obligated to take our advice or recommendation.

We do not charge you a dee for our services. We will typically receive commission from whichever lender we introduce you to (either a fixed fee or a fixed percentage of the amount you borrow).

Acting as a credit broker we can introduce you to a selected group of lenders / brokers (see below) who may be able to help you finance your purchase. This group of lenders / brokers provide us with a range of products which may be suitable for your purchase. We will explain the key features of those products to you.

- MotoNovo Finance ltd - Close Motor Finance

Unless we consider it to be inappropriate given your personal circumstances, for certain vehicles e.g., New, our approach is to introduce you to the lender who are usually able to offer the best available package for you, taking into account interest rates, residual valuations (where applicable) and other contributions. If they are unable to make you an offer of finance, or the vehicle is not one that we would normally place with them we will introduce you to other lenders on our panel. The lender we introduce you to and available rates will depend upon a number of factors including: the vehicle, your personal circumstances and the likelihood of a lender to accept an application based on information provided.

Lenders typically pay a commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions; some lenders may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. If you would like to know the amount of any remuneration we have received from the finance provider, please ask us.

All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over, guarantees may be required.