WHEN you are looking to purchase a vehicle, for yourself or your company it is easy to become distracted by a cheap offer, either in the press or online. But how do you decide whether the offer is real or are they simply trying to attract your enquiry?
Common sense will play a big part. If it sounds too good to be true – it probably is.
When buying a financial product the marketplace is heavily regulated, providing increasing levels of protection for you, the consumer.
WHEN you are looking to purchase a vehicle, for yourself or your company it is easy to become distracted by a cheap offer, either in the press or online. But how do you decide whether the offer is real or are they simply trying to attract your enquiry?
Common sense will play a big part. If it sounds too good to be true – it probably is.
When buying a financial product the marketplace is heavily regulated, providing increasing levels of protection for you, the consumer. The new Financial Conduct Authority (FCA) has real teeth and can (and will) bite if the legal requirements are not met. A good place to start is to check whether your supplier is regulated by the FCA, it will say so on their website. All other licences that are required should also be listed, which must include the Consumer Credit Licence, and any membership of a trade association, e.g. the BVRLA for rental and leasing companies.
This means the supplier will have to work within a framework of good business practices and service to customers and is answerable to the Association for their conduct.
Checking the small print isn’t always possible, but asking for a proper written quotation is a good way to find out about additional charges that may be hidden within an advert, as an example; documentation fees and charges on financial products can often be expensive. Asking for written confirmation of an anticipated delivery date for your product can also establish how real the offer is. If the ad is a teaser then you may find that suddenly there is no available stock but alternatives are being offered.
Alpha Contracts supplies finance for vehicles for businesses and private drivers. All enquiries receive written quotations clearly illustrating deposits, monthly payments and any applicable fees charged by the leasing company. Our special offers are usually supplied from stock. We are members of the BVRLA and regulated and licensed by the FCA (of course!) and we don’t charge the customer any documentation charges or arrangement fees; so for a professional service, giving you peace of mind, talk to one of our sales team about your next vehicle on 01604 756620.