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1. Our credit-broking services
Marshall Motor Group (MMG) Limited (“we”, “us”, “our”) are able to offer you our credit-broking services to help finance the purchase of your motor vehicle and other ancillary products and services through our commercial arrangements with a number of lenders.
When we make an introduction to our lenders we are not acting independently and an introduction does not amount to independent financial advice. The lenders we work with will typically pay commission to us. If your application is submitted to Evolution they will also typically receive a commission from the lender.
The rate offered through MMG may not be the cheapest rate available on the open market. You are always free to find an alternative way of purchasing your car on the open market (outside of MMG) such as a personal loan.
The Initial Disclosure Document (provided to you during your finance application) also contains additional information on how MMG acts as credit broker.
2. Commission disclosure
If you are an individual, sole trader or small partnership and we are arranging a credit agreement or a consumer hire agreement for you which is regulated under the Consumer Credit Act 1974, we will disclose the commission that we will receive for arranging finance for you.
The amount of commission that will be paid to MMG (in £s) will be shown to you in good time before you are asked to sign your finance agreement by the lender.
The commission amount will be clearly displayed to you via a Commission Disclosure Consent form which will be presented to you. You will be asked to sign the Commission Disclosure Consent form to confirm you understand that, should you obtain finance via our process, MMG will be paid a commission and that you consent to MMG receiving that commission.
You may also be asked to sign a consent form from the lender offering you the finance to confirm you understand the commission will be paid to MMG and that you consent to the commission being paid.
3. Commission arrangements
We have relationships with a number of lenders which could include preferential terms such as a requirement to submit an application to them first or exclusively.
We have different commission arrangements in place with each of our lenders. The commission that we earn may be a fixed fee or a fixed percentage of the amount borrowed. The commission that we earn from a new car sale is typically a fixed fee whereas the commission that we earn from a used car sale is usually a fixed percentage of the amount borrowed which may vary depending upon a range of factors including the age of the vehicle, the advance, any benefits or promotions that are available, good customer outcomes (including customer satisfaction scores). Some lenders may also provide preferential rates to us for the funding of our vehicle stock and provide financial support for our training and marketing. The amount of commission we receive from a lender does not have an effect on the amount that you pay to the lender under your credit agreement.
We also have a relationship with a finance broker, Evolution Funding Limited (Evolution). If you are introduced to Evolution and are successful in securing finance, MMG will typically receive a fixed commission, or a percentage of the balance, for the introduction. Evolution will also typically receive a commission from the lender, separately to MMG, as it also acts as a broker in making the lender introduction. The amount of commission that will be paid to MMG and Evolution will be shown to you (in £s) by Evolution in good time before you are required to proceed with the finance agreement with the lender.
Our commission arrangements with our lenders and Finance Broker have been negotiated and agreed in advance. We do not have any discretion to negotiate or adjust your interest rate, APR or any other item included in the total charge for credit. The interest rate and/or APR offered to you may vary according to your credit status, the age of the vehicle you purchase and/or the amount you borrow.
4. Important information about our finance process
We do not offer financial advice, and we do not make recommendations on any financial product. We operate a non-advised sales process. Please read all terms and conditions carefully to decide whether what is being offered is suitable and meets your needs.
We are not independent as we have contractual relationships with a limited number of lenders. We operate a controlled vertical finance process which includes the Brand Finance providers, Santander Consumer (UK) plc and Evolution Funding Limited. We do not conduct a market appraisal, and we do not choose from a panel of lenders. More favourable terms may be available to you from other lenders. Please see our Initial Disclosure Document for further details on our credit broking services.
You are always free to search the open market (outside of MMG) for an alternative way of funding your vehicle purchase.
5. Will commission impact the amount you pay?
As part of the interest charged to you in your repayments to the lender, you’ll pay the lender for their costs attached to the finance agreement. The lender’s costs include the amount of commission paid to us by the lender.
6. Will MMG charge you a fee for the introduction?
No, MMG do not charge you a fee for their roles in introducing you to a lender as described in this statement.
7. Our lenders and finance partners
For a full list of our current lenders and other finance partners and their associated Privacy Notices, please visit https://www.marshall.co.uk/site/privacy-notice/ where you will find a full list at the end of our Privacy Notice.
8. Can I ask further questions?
Yes, if you have any questions or queries, please do not hesitate to ask a member of the MMG team who will be happy to seek an answer for you
Marshall Motor Group Limited is a credit broker not a lender
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority. Our Firm Reference Number is 310503. Details of our permissions and trading names can be checked via the FCA register https://register.fca.org.uk/s/
All of the following companies are individually authorised and regulated by the Financial Conduct Authority with a Limited Permission for credit broking. Each company is a credit broker not a lender: Marshall North West Limited; Marshall of Ipswich Limited; Marshall of Peterborough Limited; Marshall of Scunthorpe Limited; and Silver Street Automotive Limited. All of the following companies are Appointed Representatives of Marshall Motor Group Limited for credit broking: Pentagon Limited; Ridgeway Garages (Newbury) Limited and S G Smith (Motors) Beckenham Limited.
We typically receive a commission or other financial benefit from our lenders for arranging finance for you. For further information on our commission arrangements please see our Finance Commission Disclosure Statement
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority to conduct insurance distribution as an ancillary insurance intermediary. All of the following companies are Appointed Representatives of Marshall Motor Group Limited for the purposes of insurance distribution: Marshall North West Limited; Marshall of Ipswich Limited; Marshall of Peterborough Limited; Marshall of Scunthorpe Limited; Pentagon Limited; Ridgeway Garages (Newbury) Limited; S G Smith (Motors) Beckenham Limited; and Silver Street Automotive Limited.
List of Companies for credit-broking and insurance distribution
More about our credit-broking services & our insurance distribution activities
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