BVRLA Member
No Administration Fees
Free Nationwide Delivery
BVRLA Member
No Administration Fees
Free Nationwide Delivery
1. Who we are:
Tax Smart Motors is a trading division of Kudos Commercial Finance Ltd, we are authorised and regulated by the Financial Conduct Authority ref 912917. Kudos Commercial Finance Ltd is an authorised Credit broker not a lender.
Kudos Commercial Finance Ltd is a member of the National Association of Commercial Finance Brokers (NACFB). We adopt a strict Code of Practice and Minimum Standards set by the Association. You can check our membership status by contacting the NACFB on the below link.https://www.nacfb.org
2. Our Role:
Kudos Commercial Finance Ltd T/A Tax Smart Motors is an introducer to MW Vehicle Contracts who are regulated and controlled by the Financial Conduct Authority ref 673971.
MW Vehicle Contracts Ltd is an authorised Credit broker not a lender. MW Vehicle Contracts are able to supply funding (Leasing and Contract Hire) from a panel of lenders (Leasing companies) from which we will receive an introductory fee or commission, we will also receive an additional amount depending on our operational standards and the volume of business completed. The amount of commission we receive for a lease or hire agreement will vary depending on which funder is used, the term and the value of the vehicle that is leased or hired. The amount of commission we are paid will affect the amount you pay to hire or lease the vehicle.
If your agreement is a regulated finance agreement, you have the right to know the commission we will receive for our service. We will provide you with a Commission Disclosure Consent Form that outlines the level of commission or fee we will receive from the lender. Once you are satisfied with this information, we will ask you to sign the consent form so that we can proceed.
We are not an independent financial advisor. We will advise and make recommendations for you after we have assessed your demands and needs. You are not obligated to take our advice or recommendations. It is your responsibility to ensure that the vehicle you have selected is fit for purpose and appropriate for your needs. You are recommended to independently verify your tax position with an accountant or qualified professional, since we are not privy to information which might materially affect the suitability of any particular financial package.
3. What products do we offer?
We offer a wide range of commercial financial products including: Leasing and Asset, commercial mortgages, property development finance, Cashflow finance
4. What will you have to pay us for our service?
We do not charge a fee to you for our brokering service.
Whichever lender we introduce you to we will receive commission from. Different lenders pay different amounts based on different commission models and interest amounts. For transparency we work with the following commission model: percentage of the amount you borrow, under some commission models we operate under, the more that you pay to the lender, the more we may receive by way of commission.
Further details regarding the nature of Commission, existence, calculation and amount of commission will be provided to you throughout your customer journey, this information will include any fees from the lender that we the broker may benefit from.
Where you have been introduced to us by a third-party Ancillary Service, dealer or introducer, we will confirm to you whether any commission payments have been made to them.5. Customer's Duty
We rely on you the customer for the accuracy of statements, information and representations notified to ourselves. Please ensure all the information you provide to us is fully up to date, accurate and complete and does not omit anything which could be material to your application.
6. Ability to Pay
Lenders will assess your ability to pay. You should make us aware of any future changes that may affect your ability to make the payments detailed in your agreement. These changes will be communicated to the creditors lending unit for further consideration.
7. Health Issues and other challenges
If you have any health issues or anything else that could affect your ability to fully understand (the product) or commitment you are entering into, you should consider very carefully whether you need further time to consider this application or whether you would like a family member or friend to help you to make your decision. Please tell us if this is the case.
8. Missed Payments
Missed payments could possibly result in the risk of losing the asset which is the subject of the Finance Agreement and the loss this could entail. The repossession can take place without a court order. The repossession may not clear the debt owed.
9. Data Protection
To approve your application our lenders will supply your personal information to Credit Reference Agencies and the Credit Reference Agencies (CRAs) will give the funders information about you, such as your financial history. The lenders, do this to assess credit worthiness, product suitability, check your identity, manage your account, trace, and recover debts and prevent criminal activity. The lenders will continue to exchange information with the CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time. CRAs will share your information with other organisations. Your data will also be linked to the data of your spouse, any joint applicants, or other financial associates.
The personal information you have supplied may also be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and verify your identity. If fraud is detected, you could be refused certain services, finance or employment. We only retain personal data for the purposes for which it is collected and for a reasonable period thereafter where there is a legitimate business need or legal obligation to do so. For detail of our current retention policy, email leigh.moore@think-kudos.com
Kudos Commercial Finance Limited's privacy notice can be found with the following link: www.kudoscf.co.uk
Kudos Commercial Finance Limited are registered with the Information Commissioners Office (ICO), reference number ZA259656.
10. What to do if you have a complaint?
If you wish to register a complaint, please contact us.
In writing: Jonathan Tait 15 Front Street, Sherburn Hill, County Durham, DH6 1PA
By telephone: 01325 638 044
Email: Jonathan@think-kudos.com
Our complaints procedure can be accessed via the following link to our website: www.kudoscf.co.uk
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR. Contact: 0800 0234567, 0300 1239123. Website: www.financial-ombudsman.org.uk
11. Are we covered by the Financial Services Compensation Scheme (FSCS)?
Your transaction may be covered by the FSCS for regulated transactions only. The FSCS is the UK's statutory Deposit insurance and investors compensation scheme for customers of authorised financial services firms. FSCS exists to protect customers of financial services firms that have failed. If the company you've been dealing with has failed and can't pay claims against it, the FSCS may be used to pay compensation.
You can find out more about FSCS at www.fscs.org.uk
