If a credit broker receives a commission then the Financial Conduct Authority expects, under CONC 4.5.3R that any intermediary disclose the existence of commissions, fees or other remuneration payable, in good time before a credit agreement or consumer hire agreement is entered into.
The Carzone is a credit intermediary. Our role involves presenting and explaining various financial products offered by our partner lenders and assessing their suitability for your specific needs. Following this assessment, the ultimate decision on how to proceed rests with you.
We are not independent financial advisors. Our services do not encompass a comprehensive market analysis of financial or insurance products, nor do we offer advice on whether our specific offers represent the optimal value available in the market.
Where a customer requests disclosure of potential commission earnings from lender partners by The Carzone regarding the specific brokering of the deal under construction (before conclusion), under Consumer Credit Directive rules they are entitled to this information. The Carzone will willingly provide this information.
The existence of commission is communicated to all The Carzone's customers prior to taking a customer application. This is disclosed both in writing as part of The Carzone’s Initial Disclosure Document on submission of an enquiry and then again at the point of providing personal information to apply for credit.
Should a customer wish to understand the potential amount or the likely amount of commission payable to The Carzone by the lender, owner or third-party in relation to the finance they are taking out then this will be provided willingly in writing in line with the company’s commission disclosure policy.
If you would like The Carzone to disclose any potential commission, please email sales@thecarzone.co.uk.
Your request, once made, will be actioned and all requests and responses will be retained.
Alternatively, you can contact us:
By phone: 01606 558911
In writing:
The Carzone Winsford, Road One, Winsford Industrial Estate, Winsford, Cheshire, CW7 3RG
If we cannot settle things to your satisfaction directly you may be entitled to refer your complaint on to the Financial Services Ombudsman or other dispute resolution scheme. Details on how to contact these will be provided on our final response.