This information relates to the activities undertaken by Motorfinity Group
Limited (Financefinity)
About our
Financial services
The Financial Conduct Authority
The Financial Conduct Authority (FCA) is the independent watchdog that
regulates financial services. Use this information to decide if our services are
right for you.
Treating Customers Fairly
Our business is committed to treating our customers fairly and ensuring our
products and services are suitable for their needs. Treating Customers Fairly
(TCF) is a core part of our culture and philosophy and you can review our
commitment to it by asking for a copy of our TCF policy statement.
What products do we offer?
We are a credit broker not a lender. We can introduce you to a limited number
of lenders or hire companies who may be able to assist you with your
requirements. We will only introduce you to these lenders or hire companies.
The finance products we can offer you and the finance providers we
predominantly use are detailed in the appendix of this document.
Commission Disclosure
We may receive a commission payment from the finance or hire provider if you
decide to enter into an agreement with them. The nature of this commission is
as follows: we receive a commission based on a percentage of the total amount
of finance taken by the customer. This will not affect the amount you pay. You
can request for us to disclose the amount of any commission received.
Other Finance Facilities
You may be able to obtain funding for your purchase from other providers and
you are encouraged to seek alternative quotations and details of their products
by researching on the high street, in the media and online.
What will you have to pay for this service?
You will not make any payment to us for processing a finance or hire application
or for introducing you to a finance or hire provider. All charges that you will pay
including, interest, documentation fees or rentals, where applicable, will be
clearly shown on the finance or hire agreement.
Understanding our products and documents
You should carefully consider the amount of time you need to review the
information and documentation with which you have been presented, and
ensure you understand your commitments under the agreement. You should
also consider if it is advisable for you to have someone you know to help you
make your decision. This is particularly important if you have any health issues,
difficulty in understanding information, or there have been any recent life
events that could affect your ability to fully understand the information and
documentation. Please advise us if this is the case and we can then proceed
with your requirements in the most appropriate way.
Affordability
You should assess the monthly payments you are required to make throughout
the agreement and ensure you are able to meet these and other obligations you
already have without suffering undue hardship. If you are aware of any future
events that will affect your ability to meet these payments, you should ensure
the finance provider is informed immediately.
Your credit rating could be adversely affected if you do not make payments
when due which could make it harder or more expensive for you to access
finance facilities in the future.
Who regulates us?
Motorfinity Group Limited (Financefinity) trading as Financefinity is authorised
and regulated by the Financial Conduct Authority; registration number 958474.
Motorfinity Group Limited (Financefinity) address is Motorfinity Group Limited,
Motorfinity HQ, Unit 3 Northgate Terrace, Northern Road, Newark, Notts, NG24
2EU.
You can check this information on the FCA register by visiting
www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.
What to do if you have a complaint
If you wish to register a complaint, please contact us:
in writing: Motorfinity Group Limited (Financefinity), Motorfinity Group
Limited, Motorfinity HQ, Unit 3 Northgate Terrace, Northern Road, Newark,
Notts, NG24 2EU
by telephone: 08000 319139
by email: [email protected]
If you would like to know how we handle complaints, please ask for a copy of our
complaints handling process. If you cannot resolve a complaint with us, you may
be entitled to refer it to the Financial Ombudsman Service whose contact details
are set out below:
in writing: The Financial Ombudsman Service, Exchange Tower, London
E14 9SR
by telephone: 0800 0234567
by email: [email protected]
website: www.financial-ombudsman.org.uk
Confidentiality
and Data
Protection
Throughout the process of administering services for you we will need to collect
personal information from you and pass this information to one or more third
party organisations in order for them to supply any services you request. This
may include passing this information to one or more potential lenders or credit
brokers to enable them to make a credit decision. These lenders may use your
information to conduct an affordability and credit worthiness assessment and
will do so using the consent given by you. This may include sharing your
information with credit reference agencies and other companies for use in
credit decisions and fraud prevention. For full details of where your information
will be sent, and the purpose for doing so, or to cancel your consent for the
processing of your personal data, please contact us. In cases where your initial
application may be refused by the most suitable lender, your application may be
referred to other lenders or credit brokers who may also share information with
credit reference agencies in order to assess your application for finance. Those
lenders or credit brokers will not use your personal information to provide you
with promotional or marketing material, unless you opt-in to receive this
material directly with them.
A copy of our privacy policy, which details how your information will be
processed and your rights, is freely available upon request. To request this
information please contact us:
in writing: Motorfinity Group Limited (Financefinity) Motorfinity Group
Limited, Motorfinity HQ, Unit 3 Northgate Terrace, Northern Road, Newark,
Notts, NG24 2EU
by telephone: 08000 319139
by email: [email protected]
Appendix – Products Offered
Personal Contract Plan (PCP)
Ownership options
You have the option to own the vehicle at the end of the agreement if you
pay the Guaranteed Minimum Future Value Payment.
Alternatively, you can hand the vehicle back to the finance company at the
end of the agreement. This may protect you from higher than expected
depreciation levels.
In some circumstances, if you have problems with the vehicle, you may be
able to refer these issues to the finance company.
Restrictions/potential extra costs
A limit is set on the annual mileage of the vehicle. If you exceed this limit and
want to return the vehicle at the end of the agreement, you will pay excess
mileage charges. If the vehicle is damaged, you may have to pay damage costs if
you hand the vehicle back with damage. Because you do not pay all the amount
borrowed in equal instalments during the term of the agreement, you may pay
more interest when compared to a HP agreement for the same term. You can
not sell the vehicle until the finance has been paid off in full. You will need to
service and insure the vehicle in line with the terms of the agreement.
Payment and equity
A Guaranteed Minimum Future Value (GMFV) is set which reflects the value of
the vehicle taking into account the age and mileage at the end of the agreement.
This amount is not paid off during the term of the agreement and therefore you
may benefit from lower monthly payments during the term of the agreement
and/or a lower deposit. However, this may result in you having lower or no
equity in the vehicle at the end of the agreement if you decide to hand back the
vehicle or part exchange it. As you pay the finance at a slower rate due to the
GMFV not being paid during the term of the agreement, this could increase the
likelihood of you owing more money than the vehicle is worth if sold before the
end of the agreement.
Hire Purchase (HP)
Ownership options
You have an option to own the vehicle at the end of the agreement.
You are the registered keeper but the finance company remains the owner
until the finance is paid in full.
In some circumstances, if you have problems with the vehicle, you may be
able to refer these issues to the finance company.
Restrictions/potential extra costs
There are usually no mileage restrictions though you will need to check your
agreement. Excess mileage charges will not apply. You can not sell the vehicle
until the finance has been paid off in full. You will need to service and insure the
vehicle in line with the terms of the agreement.
Payment and equity
Flexible terms may allow you to finance the vehicle over a longer period than
leasing and PCP. By increasing your deposit you will lower the monthly payment.
As the amount borrowed is paid off in equal instalments during the term of the
agreement, it is more likely you will have a higher amount of equity than a PCP
agreement for the same term. However, if you decide to sell the vehicle before
the end of the agreement, you will have to pay the agreement in full (less an
interest rebate) which will reduce the amount of equity you have in the vehicle
and particularly in the early stages of the agreement could mean the vehicle is
worth less than the amount of finance outstanding.
Finance providers
The finance providers we predominantly work with are:
- Northridge Finance (NIIB)
- BNP Paribas
- Santander Consumer Finance
- Blue Motor Finance
- Zopa Ltd
- Alphera
- Mann Island Finance Limited
- MotoNovo
- Auto Money
- Paragon
- Aldermore
- Oodle
- Close Motor Finance
- Lendable
- Marsh
- Money Way
- MoneyBarn
- Ratesetter
- Startline Motor Finance
- Billing
- Mallard Finance
- Specialist Motor Finance
- FCA Automotive Services
- Evolution Funding Ltd
- Advantage Finance Ltd
- CA Auto