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Initial Disclosure Document

1 The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.

2 Whose products do we offer?

If you want an insurance product, we only offer products from a limited number of insurers for; No qualifying products at this dealership.

We are appointed to act as the agent of the insurers and not as your agent, when offering or recommending the above products and where we collect any premium or handle premium refunds, we do so as the agent of the insurer.

If you want finance, we act as a credit broker and not as a lender. We are not an independent financial advisor and do not act for you. We will not give you any advice or recommendations. It is up to you to decide whether the agreement we offer to you is suitable for your needs.

We can only make introductions to a limited number of lenders (which we explain below). Each may offer different finance products (for example, HIRE PURCHASE, LEASE PURCHASE, PERSONAL CONTRACT PURCHASE (PCP)). We have different arrangements with each of those lenders meaning the offer of finance we tell you about may be influenced by those arrangements (meaning we may choose one option over another because it suits us). We are paid different amounts of commission depending on who we introduce you to.

We work with the following lenders with the following commission models:

  • Close Brothers Motor Finance - Rate for Risk & Fixed Rate / % of Balance Financed Commission Model
  • Midland Credit - Rate for Risk / Flat £s of Advance Commission Model

We also work with the following credit brokers who have access to other lenders. Those other credit brokers and their commission models are:

  • Car Finance 247 - Rate for Risk / % of Balance Financed Commission Model & Flat £s of Advance

Commission Model

  • Evolution Funding - Rate for Risk & Fixed Rate / % of Balance Financed Commission Model

There may be other providers who offer similar finance or insurance products. You can decide to arrange your own insurance products if you prefer. You may be able to arrange your own finance, however we are not obligated to accept third-party arrangements so please check with us first as we may charge an additional fee. You may be able to get a better deal by shopping around. You therefore need to make up your own mind before entering into any finance agreement. You should ask all of the questions you want to ask before entering into any finance agreement.

3 Which service will we provide you with?

We will advise and make a recommendation for you after we have assessed your needs for;

  • No qualifying products at this

We will review suitable finance products for you after we have assessed your needs for;

  • HIRE PURCHASE, LEASE PURCHASE, PERSONAL CONTRACT PURCHASE (PCP)

You are not obliged to agree with our recommendations or to make any purchase of a finance or insurance product. You may obtain free, unbiased guidance from the Money Advice Service at www.moneyadviceservice.org.uk or Your Impartial Guide to Car Finance at www.financingyourcar.org.uk.

  • What will you have to pay us for this service?

If we introduce you for a finance product, you’ll make no payment to us.

Instead, we will usually receive a commission from the lender or credit broker that we introduce you to. We will provide you with further information on the commission arrangement and how it is calculated, before you enter into any finance agreement.

You will be asked to confirm you’re happy for it to be paid to us.

There are usually two ways in which we'll be paid commission:

  • A fixed fee: This can either be a fixed fee based on all introductions we make, or a fixed fee based on your credit score (which we do not decide). We don't have any way to influence the amount of the fixed fee when we introduce you. But the amount of the fixed fee may differ depending on the lender, or credit broker, that we introduce you to.
  • A fee which is a percentage of the amount you borrow: This will be a percentage of the amount you borrow. If you borrow more, we will be paid more commission. The amount of the percentage may either be fixed, or it may change depending on your credit score (which we don't decide). We do not have any way to influence the percentage when we introduce But the percentage may differ depending on the lender, or credit broker, that we introduce you to.

The amount of commission we receive will not affect the amount that you pay under your agreement. You will not pay it to us.

The exact amount of finance commission received by Angus Mackinnon Limited will be confirmed prior to you signing your finance agreement.

5 Who regulates us?

Angus Mackinnon Limited is an appointed representative of Automotive Compliance Limited who is authorised and regulated by the Financial Conduct Authority. Automotive Compliance Ltds' FCA Register number is 497010.

Automotive Compliance's permitted business is to act as a Principal Firm for a network of motor dealer Appointed Representatives' who act as Credit Brokers for the introduction to finance providers, acting on behalf of the lender and sell and arrange non-investment insurance contracts, acting as agents on behalf of the insurers. You can check this on the Financial Services Register by visiting the FCA's website https://register.fca.org.uk/ or by contacting the FCA on 0300 500 8082.

6 What to do if you have a complaint?

If you wish to register a complaint, please contact us;

... In writing Automotive Compliance Ltd, The Factory, 44 Alfred Street, Gloucester, GL1 4DD.

... by phone 01452 671560

... by e-mail [email protected]

If we cannot resolve your complaint within 8 weeks, you may refer your dispute to the Financial Ombudsman Service.

This service is free to use. Their consumer helpline is available on 0300 123 9123 or you can visit their website at www.financial-ombudsman.org.uk.

7 The Data Protection Act

Angus Mackinnon Limited is also governed by the Data Protection Act (2018). This ensures any information you give us is managed in a secure and confidential manner. This information may be passed to other groups or affiliated members including those company(s) detailed in Section 2 above. Without this information Angus Mackinnon Limited is unable to process your order or enquiry. Under the Data Protection Act you may apply to have this information restricted or removed at any time by telling Angus Mackinnon Limited via phone on 01889563448 or in writing to Angus Mackinnon Limited, Derby Road, Uttoxeter, Staffordshire, Gloucestershire, ST14 8EG.