As required by the Financial Conduct Authority (FCA), we are providing to you important information relating to our status, the processing fee we charge and our cancellation charges
Motoplan Ltd are authorised and regulated by the Financial Conduct Authority. Our Firm Reference Number is 673005. You can check this on the Financial Services Register by visiting the FCA’s website at www.fca.org.uk. Our registered address is C5 Riverside Hub, Apollo Court, Neptune Park, Plymouth PL4 0SJ.
Motoplan Ltd are a credit broker, not a lender.We charge a processing fee of up to £250 ex VAT for our brokering services. This represents the costs incurred in ordering your vehicle with our nominated supplying dealer. This fee is payable by debit or credit card or by BACs payment and is taken the day before delivery. We may also charge a fee for cancellation our brokering services as set out in our Terms and Conditions. This does not affect your right to cancel your finance agreement within any cooling off period. In accordance with the Distance Marketing Directive, regulated customers have the right to cancel, without penalty, to the finance part of the contract within 14 calendar days from the day place your order online or “accept” our quotation via email. For cancellation of the vehicle supply, the following cancellation fees will apply:
- Cancellation of the Supply Contract will be charged at a minimum of 3 times the monthly payment together with any loses suffered by the dealer. In the event that an account is outstanding, we will refer the matter to our debt collection agents, Daniel Silverman Limited, which will incur costs of 15% plus VAT. Any costs incurred to collect the debt will be added to the debt, plus VAT at the prevailing rate. You agree that you will be legally liable to pay us that surcharge, and that payment of the same can be enforced against you in court. You also agree to pay interest at the relevant reference rate provided for under the Late Payment of Commercial Debts (Interest) Act 1998, which interest is payable both after and before any judgement of the court and continues to accrue.