FCA STATUS DISCLOSURE

 

Reed Autos Limited is an introducer, not a lender. We can introduce you to a limited group of carefully
selected credit providers who may be able to offer you finance for your purchase. Our role as a introducer is to
determine which lender on our panel to introduce you to. Each credit provider may have different interest rates and
charges.

We do not charge you a fee for our services. We are only able to offer a range of finance products from
these providers, which may be suitable for you and we will explain the key features of these products to you (or your selected 
finance company will).


Rates will be either fixed, based on the lender, or based on your credit score. Fixed rates are determined by our
contractual agreement with the finance supplier and the supplier cannot change this rate. Credit score-based
rates are pre-set, but are also linked to your individual credit rating. Typically, the higher your credit score, the lower
the APR you will receive from a credit provider.


We are NOT independent financial advisors. We will provide details of the products available from the lenders that
we work with, but no advice or recommendation will be made. You must decide whether the finance product is
right for you. We will receive payment from the credit provider for introducing you to them.

The amount we may receive could vary by credit provider which may be a higher amount in relation to certain products compared with other products available.
The lenders we work with could pay commission at different rates. However, the amount of commission that
we receive from a lender does not have an effect on the amount that you pay to that lender under your credit
agreement. We run a number of different commission models depending on the arrangements that we have agreed
with the lender. The commission received is either a fixed fee or
a percentage of the amount you borrow, which means the payment we receive may vary depending on the amount
you borrow and the term the loan is borrowed over. This may also mean that the more you borrow the more the
introducer is paid. Our commission, will not influence the interest rate that you will pay with a lender. Details on the amount of commission are available on request.

For more information regarding the statement above please email hello@reedautos.com or call us on 01223 874400