Financial Conduct Authority

INITIAL DISCLOSURE DOCUMENT

The Financial Conduct Authority (FCA) is the independent regulator of financial services. The FCA requires us to provide you with an ‘Initial Disclosure Document’. This document ensures that you are provided with essential information about us, the products and services we offer, how we charge for those services and how we are regulated. There is also information on what you should do if you have a complaint.

Who are we?

Vanarama is a trading style of Autorama UK Limited which is both authorised and regulated by the Financial Conduct Authority. Our registration number is 630748. Autorama UK Limited is a wholly owned subsidiary of Auto Trader Limited and is an Auto Trader Group Plc company. We also use the trading styles of AT Leasing, Auto Trader Leasing and Vanarama Short Term Leasing. Our address is Vanarama, Maylands Avenue, Hemel Hempstead, HP2 7DE.

What do we do?

We are a credit broker and we work with a selected group of leasing companies - details can be found here to make available leasing options to customers who want to lease a vehicle. We are only able to offer leasing products from this limited group of leasing companies, not the entire market. We will provide details of the leases available from the leasing companies that we work with, but you must decide whether the product is right for you. Depending on your circumstances you may be able to negotiate a better or different finance arrangement if you shop around. Once you have selected your vehicle online, chosen your preferred term and mileage, you will be presented with the cheapest offer based on the monthly rental payment available to you from our leasing panel, regardless of the amount of commission that we may earn. The next step is for you to complete the proposal for this leasing company, either online or with an Account Manager on the telephone. We will ask for information about your personal circumstances and requirements so that we find the right vehicle for you at the cheapest price. With your consent, we will complete a soft credit check to establish the likelihood of you being accepted for the lease agreement. This will not leave a footprint on your credit file. Based on the outcome, we progress to a proposal which will be submitted to the leasing company for a hard credit check. If we think that it is unlikely that you will be accepted, we will make you aware. In this circumstance, you can still decide to proceed with a hard credit search if you wish. If it is unlikely that you will be accepted for credit by the leasing company offering the cheapest monthly rental payment, we will make you aware of alternative companies from our panel or alternative similar vehicles available based on your personal circumstances and likelihood of approval. The monthly rental payments may be more expensive in this instance but will always be the cheapest option available to you from our panel. When we present you with leasing options and/or vehicles, we will receive a commission so will not be acting impartially; however, the amount of commission we make is not a factor in presenting you with leasing or vehicle options. The cheapest monthly price will always be the determining factor, which means we could earn more or less as a result of you choosing an alternative leasing company or vehicle.

How are we paid?

We do not charge you an arrangement fee. We receive a commission from the leasing company once the vehicle has been delivered and the leasing agreement is live. The commission amount will vary from company to company and it may be fixed or variable. Additionally, a few companies will pay an additional amount of commission, which may vary within a range, subject to specific contractual targets we have with them. The final commission amounts will be disclosed in your Vehicle Order Confirmation document but if you have any questions, please contact compliance@autorama.co.uk

Confidentiality and Data Protection

As part of the process of obtaining a lease agreement for your vehicle we will need to pass your details on to one or more of the leasing companies. A list of these leasing companies together with their Financial Conduct Authority Registration numbers can be found here. Any organisation approached for a possible lease will need to undertake credit searches with a credit reference agency, which may affect your credit rating. More details can be found within our Privacy Notice here.

How to Complain

We aim to provide you with a great service, so you can get the right product for you. We know that sometimes things go wrong, so if you‘re not happy or would like to make a complaint, here’s how to contact us: E-mail us: customerservices@vanarama.co.uk
Call us: 01442 838195
Write to us: Vanarama, Maylands Avenue, Hemel Hempstead HERTS HP2 7DE If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. You should write to the Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone 0800 023 4567.