Initial Disclosure Document
We’re Applied Leasing Limited a company registered in England and Wales company registration number 02473288 and our registered office and trading address is at Suite 2.08, Grosvenor House, Central Park, Telford, Shropshire, TF2 9TW. You can contact us by writing to us at our trading address above, by calling us on 01952 403 636 or by emailing info@appliedleasing.co.uk
We’re an Appointed Representative of Jurni Limited who is authorised and regulated by the Financial Conduct Authority for credit broking activities. Our Firm Reference Number is 1047228 and our Principal Firm, Jurni Limited’s Firm Reference Number is 631448. You can check this information at www.fca.org.uk
We’re registered with the Information Commissioners Office for the processing of data under The Data Protection (Charges and Information) Regulations 2018. Our Data Protection registration number is Z8661858. You can check this information at www.ico.org.uk
We’re a broker member of the British Vehicle Rental and Leasing Association and abide by their Code of Conduct. For further information visit www.bvrla.co.uk
We are a Credit Broker. We are not a Funder or a Lender.
Our Services
At our core, we aim to put your needs first, give you a great service, simplify the process of sourcing finance and find the right vehicle for your needs. As a broker, not a funder, we work to connect you with finance solutions through a carefully selected panel of funders. We provide products and pricing only from this panel so we don’t search the entire market for pricing or alternative funding routes which may be available to you. We won’t offer advice, but we’ll present clear, concise information to ensure you have all the necessary details to understand how our products and services work for you and to help you make an informed decision and achieve your desired outcome. We’ll also let you know about ancillary products which may be of interest including a service, maintenance and repair package which makes budgeting easy. We can also provide products from AutoProtect MBI Ltd including SHINE, an agreement to keep your car in tip top condition by repairing small scratches and dents and Customer Protect Comprehensive Warranty which helps towards the cost of mechanical faults (excluding fair wear and tear) when your vehicle warranty expires. For business users we offer additional facilities and tools to assist you to run your fleet effectively.
If you’re looking at a Salary Sacrifice Scheme, we’ll ask our Principal Firm who is authorised for insurance distribution, to introduce you to Lloyds Latchford Group who provide motor insurance for this scheme.
General Data Protection Regulation
To deliver our services effectively—primarily introducing you to our funders—we need to collect and share your personal information with our product and service providers and with our Principal Firm, Jurni Ltd who in turn will share your information with third parties, including:
We’ll never share your data without your express permission unless required by law. For full details, please see our Privacy Policy on our website.
Commission
If you decide to use our services and enter into an agreement with one of our funding partners, we’ll receive a commission for introducing you to them and this is our main source of income. Commission may be a fixed amount or a discretionary amount within a band pre-determined by the funder or capped as a percentage of the vehicle’s taxable list price. The commission amount is included in the finance agreement and the higher the amount of commission, the more you will pay to hire or finance your vehicle. We may also receive additional income from our Principal Firm based on how we perform against their standards, from vehicle suppliers and/or manufacturers and from providers of additional ancillary products and services.
Providing our service costs money and earning commission allows us to support our dedicated team, who in turn, ensure that you receive an amazing experience. We’ll always offer you fair value for the service and outcome that you receive and being open and transparent, we’ll even let you know exactly what we’ll earn if you decide to go ahead with us! That’s because we appreciate you being a Customer and we know that can choose to go elsewhere!
Charges for our services
We make a charge to you for the services that we provide:
New Orders
Administration Fee
We charge an administration fee of either
a) £360 including vat (£300 plus vat) for sourcing your vehicle, which will be the subject of a finance agreement with a finance company from our select panel of funders and keeping you updated about your order through to delivery. It also covers the cost to support you and assist with any queries throughout the term of your agreement;
or
b) up to £1,176 including vat (£980 plus vat) for introducing you to the Manufacturer’s finance company which may be through the Manufacturer’s main dealership.
We will confirm the exact amount of this fee on your quotation.
We raise an invoice for our administration fee when you place your vehicle order.
Processing Fee
On some occasions we may be asked to help with things which aren’t part of our core service such as arranging the disposal of a vehicle or the sourcing a vehicle for outright purchase. In these instances, we will make a processing charge to cover the work that we undertake. This will vary but we will provide the amount that we will charge at the outset.
Holding Deposit – Business Customers only
For our business customers entering into non-regulated agreements, we’ll ask you for a holding deposit of £250 at the point of order to secure the vehicle. We’ll hold this in a separate customer holding account and provided the order progresses through to delivery, the holding deposit will be returned to the customer either within 21 days of delivery of the vehicle or when the finance company has confirmed that the agreement has been ‘set live’ (being after delivery and the finance company has received all the documents that it requires for the agreement to be activated on their system), whichever occurs soonest. If the order is cancelled, the holding deposit will be used as part payment towards the cancellation fee.
Order Cancellation
We hope that you won’t have to cancel your order but if you do, we make a charge of £600 including vat (£500 plus vat) which covers the work that we’ve done for you from the point of your initial enquiry. We won’t make a charge if you’re a consumer and you cancel your order with us within 14 days from the order date but if you cancel afterwards, you’ll be liable for the cancellation fee. We reserve the right to contra any payment that you have made in respect of an administration fee to our cancellation fee. Please note that the supplying dealer of the vehicle or the finance company may also levy a cancellation charge, and we’ll let you know what this is as soon as we can and within 5 working days of your cancellation. Cancellations must be requested in writing.
Contract Extension
If you want to extend your contract and it is allowed and approved by the funder, we make a charge of £249 including vat (£207.50 plus vat) for undertaking the work to arrange this for you.
Contract Mileage Amendment
If you want to amend your contract mileage and it is allowed and approved by the funder, we make a charge of £90 including vat (£75 plus vat) for undertaking the work to arrange this for you.
Transfer of Agreement
If you want to transfer your agreement to another party and it is allowed by the funder, we make the following charges.
Transfer Application Fee
Our fee is £300 including vat (£250 plus vat) and covers the cost of obtaining the required information from both parties and submitting it to the funder for consideration. It is payable at the point of application and irrespective of the funder’s decision.
Transfer Completion Fee
This fee of £300 including vat (£250 plus vat) covers the cost of arranging the documentation and consulting with both parties after the transfer has been approved until completion.
Invoices for charges must be paid in full within 7 days except for invoices for new orders which must be paid within 7 days or 3 days before delivery of the vehicle, whichever is sooner.
Complaints
We want happy Customers! Putting you first is at the heart of our company’s culture and the key to our reputation and success. We aim to give you a trouble-free and great level of service and whilst we’ll always do our very best to achieve this, we’re human and we know that sometimes things do go wrong. So, if we’ve slipped up, please do let us know and we’ll do everything that we can to put this right and of course, we’ll take whatever steps we can to prevent it from happening again. That’s why we take every complaint very seriously and we’ll do our utmost to deal with any issue quickly, efficiently and in a positive manner. Whilst no-one likes to receive complaints, we’ll always thank you for bringing something to our attention as your happiness is what makes us happy. For information about how to contact us and the process, please take a look at our Complaints Procedure for Customers on our website
Please speak to us if you are unsure about the contents of this Initial Disclosure Document.