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.

Summit Vans Limited t/a Summit Leasing t/a Summit Drive is an appointed representative of ITC Compliance which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include acting as a credit broker not a lender.

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 Summit Drive, 16 Redcliff Road, Melton, North Ferriby, HU14 3RS. Our contact number is 0344 522 2030. 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.

Summit Vans Limited Registered in England & Wales with company number: 14077868 | ICO Registration: ZB388709 | VAT No: 420 234 353.

summitdrive.co.uk - [email protected] - 0344 522 2030

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 will typically 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. This is reflected in the monthly lease rate that you pay for your vehicle. Any and all commission amounts will be fully disclosed to you as part of your sales journey. 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. If you would like more information regard to the disclosure of commissions, please e-mail [email protected].

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 visit our Complaints Procedure.

What do we charge for our services?

We are a commission and fee based organisation which means that we will 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 and this amount will impact your monthly payments.

Processing Fee - We charge a processing fee of up to £270 including VAT for our services. The processing fee is the broker fee charged by Summit Drive 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 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.

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, which 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.