The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.
We act as a credit broker, not as lender, for the introduction to a limited number of finance providers only for;
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- CONTRACT HIRE, FINANCE LEASE, HIRE PURCHASE, OPERATING LEASE, PERSONAL CONTRACT HIRE, PERSONAL CONTRACT PURCHASE (PCP)
We act on behalf of the lender for this introduction and not as your agent. We are not an independent financial advisor; we will provide details of products available. We will review suitable finance products, subject to your personal circumstances, though you are not obliged to take our recommendation.
Our panel of Lenders, who may be able to finance your purchase are;
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- Halo Corporate Finance Ltd - Rate for Risk & Fixed Rate / % of Balance Financed Commission Model & Flat
£s of Advance Commission Model
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- Mercedes-Benz Finance - Fixed Rate / % of Balance Financed Commission Model
We will review suitable finance products for you after we have assessed your needs for;
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- CONTRACT HIRE, FINANCE LEASE, HIRE PURCHASE, OPERATING LEASE, PERSONAL CONTRACT HIRE, PERSONAL CONTRACT PURCHASE (PCP)
You are not obliged to agree with our recommendations or to make any purchase of a finance product. You may obtain free, unbiased guidance from the Money Advice Service at www.moneyadviceservice.org.uk or Your Impartial Guide to Car Finance at www.financingyourcar.org.uk.
You will make no payment to us for the introduction to our panel of lenders.
If you purchase a new vehicle, typically we may receive a commission from the lender if you decide to enter into an agreement with them.
If you purchase a used vehicle, typically we will receive a commission from the lender if you decide to enter into an agreement with them.
You may ask us for details of such payments by emailing lee.willetts@midlandstruckvan.com, which we will tell you (in good time before the agreement is executed) the amount of any commission we will earn from the lender.
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). For your reassurance, all of the lenders we work with could pay commission at different rates, but the commission we receive does not influence the interest rate you will pay. Our aim is to secure finance for you at the lowest interest rate you are eligible for from our panel of lenders. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed.
Commission Arrangements
% of Balance Financed Commission Model
The Dealer will be paid a commission for introducing you to the lender. This will be a percentage of the amount that you borrow. This means the more you borrow the more the Dealer is paid. The commission will be the same no matter the interest rate that you pay.
Flat £s Fee Commission Model
The Dealer will be paid a commission for introducing you to the lender. This will be a flat fee amount. This means the commission will be the same no matter how much you borrow or the interest rate that you pay.
You can check this on the Consumer Credit Register by visiting the FCA's website https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.
Write to Midlands Truck and Van Limited, 2 Cornwall Road, Cornwall Industrial Estate, Smethwick, Birmingham, B66 2JT
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Telephone 0121 326 4200
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.