What is an Initial Disclosure Document?
The Financial Conduct Authority (FCA) is the independent regulator of financial services. The FCA requires 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.
Who regulates us?
Motorexe Ltd is authorised and regulated by the Financial Conduct Authority, FRN 839526. You can check this on the FCA Register or by contacting the Financial Conduct Authority.
Motorexe Ltd is registered in England and Wales under company number 11836979.
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.
Who do we work with?
We work with a select panel of lenders who may be able to help finance your vehicle. This select panel of lenders provides us with a range of products that may be suitable for your vehicle purchase or leasing requirements.
We will explain the key features of those products to you and make a recommendation based on affordability which is suitable for your demands and needs at the time it is made.
We are not Independent Financial Advisers and therefore are unable to provide you with independent financial advice. There are also other sources of finance which you may wish to investigate.
What products do we offer?
We can introduce you to a select panel of lenders who may be able to finance your purchase. We will only introduce you to these lenders.
We would advise you to review these products to ensure you are satisfied that the product you have chosen meets your requirements.
Motorexe Ltd is a credit broker and not a lender.
Other Finance Facilities
You may be able to obtain finance for your purchase from other lenders and you are encouraged to seek alternative quotations and details of their products by researching on the high street, in the media and online.
Our Insurance Services
At present we do not offer any insurance products.
What will you have to pay us for our services?
You will not make any payment to us for any introductions we make to finance providers regarding finance facilities to fund your purchase.
Commission Disclosure
We will receive a commission payment from a finance provider if you decide to enter into an agreement with them.
We will provide you with information regarding the nature and/or amount of commission in accordance with our regulatory obligations.
The commission received from a lender or broker does not necessarily affect the amount you will pay under your finance agreement.
Understanding our products and documents
If you have any health issues, difficulty in understanding information or there are any recent life events that could affect your ability to fully understand the information and documentation you are presented with, or what your commitments are under the agreement, you should carefully consider the amount of time you require to review the documentation.
You should also consider whether it is advisable for you to have someone you know help you make your decision. Please advise us accordingly if this is the case and we can then proceed with your requirements in the most appropriate way.
You should make sure you have sufficient time to assess the information given to ensure the funding option offered is suitable for you and meets your requirements. You should seek further explanations and ask questions if needed to fully understand the documents you are given.
Affordability
You should assess the monthly payments you are required to make throughout the agreement and ensure you are able to meet these obligations 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 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.
What to do if you have a complaint
If you wish to make a complaint, the first step is for us to understand your complaint.
You can contact Motorexe Ltd by:
Phone: 020 8554 7461
Mobile: 07551 394348
Post: Motorexe Ltd, 30 Lynn Road, Ilford, Essex, IG2 7DS
Online: Through the Motorexe Ltd website contact form
Please provide your name and contact number so that we can contact you regarding your complaint.
We will promptly acknowledge your complaint, investigate your complaint and endeavour to send you a final response within the applicable regulatory timescale. If we are unable to provide you with a final response within the required time, we will send you an update.
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