Initial Disclosure Document
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 E-drive West Midlands Limited
E-drive West Midlands Limited is credit broker not a lender and is both authorised and regulated by the Financial Conduct Authority (FCA) We provide broker services to customers via a third party finance partner, and work with our finance partners in order to find a suitable vehicle finance agreement for our customers.
The products we use
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 might 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.
What are the costs for our services?
We are usually paid by commission from finance providers or lenders, these fees can be pre-set and often vary depending on the product and the volume that is placed with a particular supplier. Occasionally a particular deal may incur an administration fee to be charged to the client. This may between £0 and £250 plus VAT, will be clearly shown on any quotes from E-drive West Midlands Ltd and will be payable if the deal completes. We do not charge for any of our other broker-related services. Once an order has been confirmed by a client and placed, a fee of up to three months rental could be charged by the lender if you then cancel. This will only be charged if a vehicle has been specifically ordered to the clients’ specification, and E-drive West Midlands Ltd are charged a cancellation fee which is passed on. We will invoice you for any charges that become due as detailed above for payment within 14 days by bank payment.
Who regulates us?
E-Drive West Midlands Limited is regulated by the FCA. You can verify this by checking the FCA Register on the website: http://www.fca.org.uk/register/ or contacting them on: 0300 500 8082. Our firm reference number is 679314.
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