Information Notice

Information About Our Finance & Credit Broking Services

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you. This document explains who we are, the services we provide, how we are paid and the information you need before deciding whether our services are right for you.

2. Whose products do we offer?

Hippo Vehicle Solutions Ltd is a credit broker, not a lender. We can introduce you to a limited number of lenders and funding products to support your vehicle purchase. We do not provide financial advice or make recommendations. Our role is to explain the funding products available from our panel of lenders so that you can decide which option best meets your needs. We offer a range of vehicle funding product options, including:

• Contract hire products (e.g. Personal Contract Hire (PCH) and Business Contract Hire (BCH))
• Finance products (e.g. Hire Purchase (HP) and Personal Contract Purchase (PCP)) For finance products, the interest rate you are offered will depend on your individual credit profile. Before you proceed, we will discuss the applicable rate with you, and full details will be clearly set out in your finance agreement. Our role is to introduce you to a panel of lenders who will assess your application and may make you an offer of funding based on your circumstances. If no lender is able to offer funding, we will inform you in writing. You may request a list of our lending partners at any time. Before arranging funding, we will discuss your individual circumstances, including your preferred monthly payment, deposit, intended use of the vehicle and other relevant information. This helps us explain the funding options available from our panel of lenders so that you can make an informed decision. Our finance products are available across a range of APRs from 12.9% to 49.9%, depending on the lender and your individual circumstances. These are broadly categorised as follows:
• Customers with stronger credit profiles (often referred to as “prime”) – APR typically ranges from 12.9% to 13.9%, depending on the lender.
• Alphera Motor Finance (specific criteria):
  • Customers with a stronger credit profile purchasing a vehicle with a finance balance over £25,000 may qualify for 9.9% APR.
  • Finance balances below £25,000 with this lender are typically offered at 12.9% APR.
  • Eligibility is subject to credit status and vehicle value.
  • The interest rate available may change depending on the amount borrowed, your deposit, the vehicle being financed and the lender’s criteria. We will always explain the rate offered and provide illustrations showing how different borrowing amounts or deposits could affect your monthly payments and the total amount payable.
  • This does not mean that borrowing more will always reduce the overall cost, and you should consider what is affordable and suitable for your individual circumstances.
• Customers with moderate credit profiles (often referred to as “near prime”) – Rates typically start from 13.9% APR, depending on credit profile.
• Customers with impaired credit – Finance may be available through our subprime lender panel, with rates dependent on individual circumstances. In some cases, we may introduce you to another credit broker. If this applies, we will inform you.

3. Which service will we provide you with?

We will provide you with information to help you understand the credit agreements available to fund your vehicle purchase. These may include, for example, Hire Purchase (HP), Personal Contract Purchase (PCP), Personal Contract Hire (PCH), Business Contract Hire (BCH), Lease Purchase, Finance Lease, Conditional Sale and other funding products available through our panel of lenders. In addition to vehicle funding, we may also offer a range of optional products and services designed to support your ownership of the vehicle. These may include vehicle warranties, complimentary mechanical breakdown cover, maintenencae packages, paint protection, cosmetic repair plans (such as Shine), vehicle trackers and dashcams. The availability of these products and services will depend on the vehicle you purchase and your individual circumstances. Before you decide whether to proceed, we will explain the features, benefits, limitations, exclusions and costs of any optional product or service.

4. What will you have to pay us for our services?

Vehicle Preparation and Arrangement Fee’s

• We may charge a Vehicle Preparation and Arrangement Fee in relation to the preparation of your vehicle and the services we provide in arranging your purchase. Where applicable, the amount of this fee will always be disclosed and agreed with you before you decide whether to proceed.
• This fee is typically payable before reserving a vehicle and issuing documentation and can be paid securely over the telephone or by Chip & PIN in our showroom.

Cancellation Charges

• Where applicable, cancellation charges are detailed within our Terms and Conditions and will always be explained before you enter into an agreement.

Commission

• If you choose to fund your vehicle through us, the lender will usually pay us commission for introducing you.
• The total cost of credit may vary depending on the vehicle price, any deposit or part exchange, the finance product selected and the total amount borrowed.
• The amount of commission we receive may also vary between lenders. In some cases, it is calculated by reference to the amount borrowed, while in others it may be a fixed amount or calculated using another agreed method.
• For finance products, the commission we receive will not affect the interest rate, monthly payments or other terms of your finance agreement, which are determined by the lender.
• For Contract Hire agreements (including Personal Contract Hire and Business Contract Hire), the commission we receive may vary between providers and may be reflected within the overall rental payable.
• Where we introduce you to other optional products or services, we may also receive commission or other remuneration from the product provider.
• Before you decide whether to enter into your credit agreement, we will tell you the amount of commission we expect to receive from the lender in accordance with our Commission Disclosure Policy.
• You may also request details of any commission we receive at any time before entering into your finance agreement and we will provide this information in accordance with our Commission Disclosure Policy.

Lender Charges

• The lender may charge its own fees depending on the funding product selected. These may include, but are not limited to, documentation fees, option to purchase fees, excess mileage charges or administration fees. Any applicable lender charges will always be explained within your funding quotation and agreement before you decide whether to proceed.

5. Who regulates us?

Hippo Vehicle Solutions Ltd is authorised and regulated by the Financial Conduct Authority for Consumer Credit activities; our Firm Reference Number (FRN) is

658076. Hippo Vehicle Solutions Ltd is a Credit broker not a Lender. Our FCA permitted business is credit broking activities. You can check this on the FCA Register

by visiting www.fca.org.uk.

6. Supporting our customers

We recognise that some customers may need additional support during their purchase. This could be because of health, disability, communication needs, financial circumstances or major life events. If there is anything we can do to make the process easier, please let us know. We have a range of communication methods available and will always work with you to identify the most appropriate way of supporting you. We are also open to assisting you in other ways where we can. If you would like to know more, please contact us using the information below or speak to any of our employees on site:

• In writing: Hippo Motor Group, Trident Park, Trident Way, Blackburn, BB13NU
• Via phone: 01254 919000
• Email: [email protected].
• Via Web: https://www.hippomotorgroup.com/contact/

7. Making informed decisions

We are committed to providing information that is clear, fair and not misleading. If there is anything you do not understand about your agreement, our fees, optional products or the commission we receive, please ask and we will be happy to explain before you decide whether to proceed. There is no obligation to proceed with any agreement or optional product until you are satisfied you have all the information you need.

8. What to do if you have a complaint.

We aim to resolve complaints fairly, promptly and in accordance with the FCA’s complaint handling rules. If you wish to register a complaint, you can do so via any means, including but not limited to;

• In writing: Customer Care Team, Hippo Vehicle Solutions Limited, Trident Park, Trident Way, Blackburn, Lancashire BB1 3NU
• By phone: 01254 919000
• By email: [email protected]
• Via web: hippomotorgroup.com/hippo-help-desk/
• Via any of our social media channels, such as Facebook, Trustpilot or customer surveys for example
• Face to Face and in person at any of our sites or other third parties If you remain dissatisfied with our final response, you may be entitled to refer your complaint to the Financial Ombudsman Service; <www.financialombudsman.org.uk>

9. Are we covered by the 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. This depends on the type of business and the circumstances of the claim. General Insurance advising and arranging is covered for 90% of the claim with no upper limit. Compulsory forms of insurance (e.g. Motor Insurance) are covered for 100% of the claim with no upper limit. Please note – finance products are not covered by this scheme.