Regulatory Disclosure Statement

Our Firm's Regulated Status:

Mon Motors Limited and its trading names are authorised and regulated by the FCA under Firm Reference Number 307627 for consumer credit, arranging finance contracts, insurance distribution and arranging insurance contracts.

You can check this on the FCA register by visiting www.fca.org.uk.

You should use this information to decide if our services are right for you. Should you require further support to assist you in understanding our products and services please let us know. All finance and insurance products are optional.

Finance Products 

We are a credit broker, not a lender, and can introduce you to a selected panel of lenders. We do not act independently, as we have a relationship with our panel of lenders and will receive a commission from them.

Our approach is to introduce you first manufacturer partner, if they are unable to make you an offer of finance, we then seek to introduce you our broker partner to make an offer off finance for you. We will obtain permission from you before any introduction.

We do not act on your behalf or provide independent financial advice. We are not an independent financial advisor. Our role is to present finance options to you, not to provide advice or recommendations. Instead, we will provide you with sufficient information about our finance products, based on your disclosed personal circumstances, to help you make an informed decision.

In legal terms, we are not your representative, and we do not have a legal duty to prioritise your interests above our own.

Insurance Products:

We are a distributor of a select number of insurance products. The Insurance products we offer are provided from a single administrator,

1. AutoProtect Group is the administrator, Red Sands Insurance Company (Europe) Limited is the insurer.

We will not provide you with advice or recommendations, we will provide you with sufficient information on our insurance products based on your disclosed personal circumstances, to help you make an informed decision.

Occasionally our manufacturer partners will offer short term motor insurance. Short term insurance typically offers 5 or 7 days comprehensive motor insurance cover allowing you to collect your new vehicle before arranging your own insurance. Where applicable, we will provide you with the relevant information for you to contact the company and arrange, we will not offer advice or guidance with this product.

Fees and Commission Arrangements

We do not charge any fees for our services or introductions to lenders. Regarding the finance we arrange, lenders will pay a commission to us for introducing you to them, either as a fixed fee or a fixed percentage, calculated by reference to the vehicle age and amount you borrow. Different lenders may pay different commissions for such introductions.

We will provide you the amount of commission or fee paid to us before we introduce you to the lender. You must consent to the amount before any introduction. Some lenders also provide preferential rates to us for the funding of our vehicle stock and provide financial support for our training and marketing.

Regarding the Insurance we arrange, our insurers will pay a commission to us for arranging your insurance agreement. The commission is calculated as a proportion of the premium paid.

Contact Details / Complaints

Our complaints procedure can be found here.

Financial Services Compensation Scheme (FSCS)

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations for any insurance products you purchase. This depends on the type of business and the circumstances of the claim. Further information about the compensation scheme can be found at www.fscs.org.uk.