Disclosure Document
Thank you for considering Ancoats Car Sales Ltd for your vehicle purchase.
We are a registered firm with the Financial Conduct Authority (FCA) and are committed to providing you with the highest standards of service. The FCA is the independent watchdog that regulates financial services in the UK. Our registration number is 700145 and you can check our status on the FCA’s website: www.fca.org.uk.
Limited Company Number: 09278261
Information Commissioner Office Number: ZA243328 Phone: 0161 205 6361
Email: [email protected] Our Services:
We are a vehicle sales dealership that provides you with the following services:
• Vehicle sales
• Vehicle finance: Hire Purchase (HP), Personal Contract Purchase (PCP) & Lease Purchase (LP)
• Extended Warranties provided by Autoguard
• Ceramic Paint & Fabric Protection provided by Diamondbrite
The options we offer are Personal Contract Purchase, Hire Purchase & Lease Purchase. With Hire Purchase, you may pay an initial deposit followed by monthly payments to spread the cost of the vehicle over an agreed period. Once you have made all the payments, you own the vehicle outright. Personal Contract Purchase is similar however there is a Ballon payment at the end otherwise know as a GMFV(guaranteed minimum future value). Lease Purchase is similar to HP however there is a Lump sum to pay at the end known as a balloon payment and that has to be settled either by refinancing or other means.
Pros of Hire Purchase:
• Low initial deposit
• Fixed monthly payments making budgeting easier
• You own the vehicle at the end of the agreement
• Flexible payment terms available.
Cons of Hire Purchase:
• You do not own the vehicle until all payments have been made
• If you miss payments, the vehicle potentially could be repossessed
• Higher overall cost (interest) than buying the vehicle outright.
Pros of Personal Contract Purchase:
• Low Initial Deposit
• Typically lower monthly payments than Hire purchase
• Hand the car back and walk away providing you have not exceeded your annual mileage
• Fixed monthly payments making budgeting easier
Cons of Personal Contract Purchase:
• Limited Annual Mileage
• Typically a higher total amount payable than hire purchase
• Excess Mileage charges should you exceed your annual mileage when returning the car to the lender
• Large Final Payment
Pros of Lease Purchase:
• Buy the car: At the end of the lease, you can buy the car for its then-current value, rather than the original price.
• Know the car's history: You'll be familiar with the car's history by the time you buy it.
• Low initial payment: You can make a low initial payment.
• Low Monthly Payments
• Fixed mileage contract: You can have a fixed mileage contract.
Cons of Lease Purchase
• Early payoff penalties: Some leases have penalties for paying off the lease early.
• No option to hand the vehicle back at the end of the term you must either Fund/Refinance/ Settle by other means
Our Fees and Charges:
Ancoats Car Sales Ltd do not charge you any fees for our services, however certain
lenders may which will be explained to you before entering into any agreement. These fees will be fair, transparent, and reasonable.
We typically receive commission a payments from lenders for introducing you to them. We will disclose the amount to you before you make your decision.
Finance Lenders:
We work with several reputable finance lenders to provide you with a range of finance options. These lenders include:
CLOSE MOTOR FINANCE – https://www.closemotorfinance.co.uk/privacy-policy Eighth Street, Stretford, Manchester M17 1AP
BLUE MOTOR FINANCE LIMITED - https://bluemotorfinance.co.uk/PrivacyPolicy Darenth House, 84 Main Road, Sundridge, Kent, United Kingdom, TN14 6ER
NORTHRIDGE FINANCE (NIIB) - https://www.northridgefinance.com/about-us/contact-us/ - 1 Donegall Square, Belfast, BT1 5LR
FIRST RESPONSE FINANCE LIMITED - https://www.firstresponsefinance.co.uk/about/privacy-policy/ - 5 Regan Way, Chetwynd Business, Park, Chilwell, Nottingham, Nottinghamshire, NG9 6RZ
ALPHERA FINANCIAL SERVICE - https://www.alphera.co.uk/contact-us ALPHERA Financial Services, Adwick Park, Swinton, Rotherham S63 5NA.
MANN ISLAND FINANCE - https://mannisland.co.uk/contact-us/ - 5 St.Paul’s Square Liverpool Merseyside L3 9SJ
OODLE CAR FINANCE - https://www.oodlecarfinance.com/privacy-notice - Fletcher House, Science Park, Heatley Rd, Littlemore, Oxford OX4 4GE
V12/MONEY WAY (SECURE TRUST BANK) - https://www.v12vf.co.uk/privacy-statement - Yorke House, Arleston Way, Shirley, Solihull B90 4LH
MOTONOVO FINANCE - https://faq.motonovofinance.com/ - 1 Central Square, Cardiff CF10 1FS
BLACKHORSE - https://www.blackhorse.co.uk/privacy.html - St William House, Tresillian Terrace, Cardiff CF10 5BH
CONNECTED CAR FINANCE - https://dsgfs.com/wp-content/uploads/2024/09/DSG-Group-Privacy-notice-v2.2.pdf - Bird Hall Ln, Stockport SK3 0UX
MOTION FINANCE - https://www.motionfinance.co.uk/privacy-policy - Motion Finance, The Barn, Hatton View Farm, Whitley, Warrington, Cheshire, WA4 4DS
Have you ensured that you can comfortably manage the monthly repayments without facing any financial difficulties? YES/NO
Did the salesperson explain the agreement to you, answer your questions, and inform you about your consumer rights? YES/NO
Do you need further assistance, consider seeking independent financial advice from family, friends, or an advocacy service. YES/NO
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Confirmation:
I confirm that I have read and understood the Disclosure Document provided by Ancoats Car Sales Ltd and the information provided by the finance lenders mentioned above. I am
happy to proceed with the finance and recommendations provided.
Name: Sales Exec Name:
Signature: Signature:
Date: Date: