Initial Disclosure Document

We are required by the Financial Conduct Authority (FCA), who regulates the financial services industry, of which we are a part, to provide you with an Initial Disclosure Document (IDD) to enable you to decide, whether or not the products and services we offer are suitable for your needs. In addition, we are required to advise you on how to make a complaint should you need to do so.

Who we are

Founded in 1997, Alpha Contracts Leasing Limited - trading as Alpha Contracts (company no: 03665973) of Stable View, Horton Road, Hackleton, Northants NN7 2AW, are authorised and regulated by the Financial Conduct Authority (Registration number 671136).

Our permitted business is credit brokerage, debt administration, counselling and adjusting. We are permitted to conduct Credit Brokering, Debt-Adjusting and Debt-Counselling in connection with the whole or partial settlement of credit agreements for vehicle finance and consumer hire agreements.

We are not independent financial advisers and so are unable to provide you with independent financial advice. This information is available in the Financial Conduct Authority’s register by visiting the Financial Conduct Authority’s website: www.fca.org.uk/register or by contacting the Financial Conduct Authority on 0800 111 6768.

Affordability

You should assess the monthly payments you are required to make throughout the agreement and ensure you are able to meet these obligations and other obligations you already have without suffering undue hardship. If you are aware of any future events that will affect your ability to meet these payments, you should ensure the provider is informed immediately.

Your credit rating could be adversely affected if you do not make payments when due which could make it harder or more expensive for you to access finance facilities in the future.

Whose Consumer Credit do we offer?

We are a credit broker not a lender and we can introduce you to a select group of financial lenders who may be able to help you finance your vehicle via a contract based on the information that you provide to us. You may request a list of these lenders at any time. As part of the process for obtaining finance for the vehicle, we will pass your details on to one or more of our panel of lenders. Any organisation approached for credit will need to undertake credit searches with a credit reference agency which may affect your credit rating.

Which service will we provide you with?

We will take steps to ensure that, in the course of advising you, we will only make a recommendation that will be suitable for your demands and needs at the time that the recommendation is made. In assessing your demands and needs we may seek information about your personal circumstances and objectives in order to enable us to identify your requirements. It is important that you provide us with accurate and relevant information. Some of the services that we provide are not regulated by the Financial Conduct Authority.

What services do we offer

We can provide information on the following: Hire Purchase (HP) Personal Contract Purchase (PCP) Personal Contract Hire (PCH) Business Contract Purchase (BCP) Lease Purchase (LP) Finance Lease (FL) Business Contract Hire (BCH)

Will you have to pay for our services?

Alpha Contracts Leasing Limited charge a £208.33 plus vat. £250 Including vat vehicle sourcing fee to be paid at the point of ordering the vehicle. This is not part of the initial payment and therefore is non-refundable.

It takes time and effort by our dedicated team to successfully obtain your chosen vehicle and arranging the finance.

The vehicle sourcing fee goes towards covering the cost for this. Alpha Contracts Leasing Limited will retain this fee in the event of a cancellation. Please note some of our lenders may also charge an administration fee to set up your agreement.

Commission disclosure

We are a broker and do not provide independent financial advice. The Financial Conduct Authority has made it clear that "commission" means any financial consideration.

We may be paid a commission for introducing you to a lender. These fees may be variable or pre-set dependent on the product. The amount is capped across all lenders at a percentage of the tax list price of the vehicle. We may also receive an extra amount based on how much business we give to the lender and the quality of our service. The higher the amount paid to us, the more you will pay to hire your vehicle.

Cancelling Before Delivery

I've paid my processing fee, been approved for finance and have signed my documents. Is it too late to cancel the lease?

Once you have signed your finance documents, there is a 14-day cancellation window which is commonly referred to as the cooling-off period.

As a large majority of car lease deals are brokered over the phone, you are protected by Consumer Contracts Regulations, this was previously covered under Distance Selling Regulations, which has now been superseded by the former.

As our processing fee does not constitute part of your credit agreement, it is not subject to a refund under the Consumer Contracts Regulations. Alpha Contracts Leasing Ltd will retain the processing fee, as this payment is for the service, we provide to you.

But what if I'm a business customer?

There is typically no cooling off period for business customers, as the agreement between the finance company and your business is unregulated.

However, in some cases - if for example you were a Sole Trader, Non-Limited Company or Partnership (with up to four partners) - you are protected by the Consumer Contracts Regulations as this agreement is typically regulated, unless certain exemption criteria apply.

If you are a business customer and wish to cancel your order, Alpha Contracts Leasing Ltd will retain the processing fee.

What do you do if you have a complaint?

As an organisation we are committed to treating our customers fairly, before, during and after a sale.

Before the sale you can expect:

A clear statement of price, including where applicable a breakdown of any interest charges. Details of your cancellation rights will be made available with copies of your vehicle contract documentation.

After the sale you can expect:

Not to encounter any barriers to cancelling your contract within regulatory agreed timeframes. To
have any complaint dealt with in a timely and professional manner.

If at any time you feel you have not been treated fairly by any member of our staff, please contact us at the address or telephone number above.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

You should write to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone 0800 023 4567.

If you have any questions or queries, please contact Lynette Randall / Compliance Controller on 01604 756620 or lynette@alphacontracts.co.uk or write to Stable View, Hackleton, Northants NN7 2AW.

Further information

If you would like any further information regarding your finance agreement, you can contact Alpha Contracts on 01604 756620.