How It Works

Information Notice

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.

2. Whose products do we offer?

As a credit broker, we can introduce you to a limited number of lenders and finance products to assist with your vehicle purchase. Hippo Vehicle Solutions Limited t/a Hippo Motor Group act as a Credit Broker not a Lender. Please ask us for a list of our supporting lenders. We can provide information on the following:

  • Hire Purchase (HP) and Personal Contract Purchase (PCP)
  • Lease Purchase and Finance Lease
  • Business and Personal Contract Hire (PCH)

Occasionally, we may need to use the services of a credit broker. We will advise you of this if applicable.

We only offer products from a limited number of insurers for:

  • Finance Guaranteed Asset Protection Insurance – Autoprotect (MBI) Limited
  • Combined Guaranteed Asset Protection and Return to Invoice Insurance – Autoprotect (MBI) Limited
  • Lease Guaranteed Asset Protection Insurance – Autoprotect (MBI) Limited

3. Which service will we provide you with?

We will provide you with information to assist with your funding decision on:

  • Credit Agreements – Hire Purchase, Lease Purchase, Finance Lease, PCP, Business and Personal Contract Hire

We will advise and make a recommendation for you after we have assessed your needs for:

  • Regulated Insurance Products – Finance Guaranteed Asset Protection (GAP), Lease Guaranteed Asset Protection (GAP), and Combined Guaranteed Asset Protection and Return to Invoice (GAP/RTI) Insurance

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

You will receive our Information Notice that will outline any fees that are owed to us in relation to the preparation, arrangement or services provided through us prior to signing your agreement.

Lenders typically pay a commission to us for introducing you to them, usually calculated by reference to the vehicle model, product or Lend.  Different lenders may pay different commissions for such introductions, commission we receive may be preset but can vary and impact the amount payable

We receive commission as a proportion of premium paid from our insurance provider if you decide to enter an agreement with them.

5.  Who regulates us?

Hippo Vehicle Solutions Limited t/a Hippo Motor Group is authorised and regulated by the Financial Conduct Authority for Consumer Credit activities, our Firm Reference Number (FRN) is 658076.

Hippo Vehicle Solutions t/a Hippo Motor Group is a credit broker not a lender. Hippo Vehicle Solutions Limited t/a Hippo Motor Group is an Appointed Representative of AutoProtect (MBI) Limited for Insurance Distribution activities. AutoProtect (MBI) Limited is authorised and regulated by the Financial Conduct Authority, Firm Reference Number – 312143. Our FCA permitted business is arranging general insurance and finance products.

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

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:

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]

Online: www.hippomotorgroup.com/complaints-procedure

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

www.financial-ombudsman.org.uk

7.  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. Further information about compensation scheme arrangements is available from the FSCS.

Please note, finance products are not covered by this scheme.

Representative Example of Credit

Based on a Hire Purchase (HP) agreement. We expect more than 51% of our customers to achieve this rate.

Loan amount

£7500

APR

18.9%

60 monthly payments

£188.16

Deposit amount

£0

Loan term

60 months

Flat rate

10.1%

Total cost of credit

£3789.60

Total amount payable

£11289.60

All pictures and/or photos and car descriptions on this site are for illustration and reference purposes only and are not necessarily the vehicle on offer. All offers are subject to change at any time and are subject to finance approval and vehicle availability. All prices correct at time of publication. E & OE.

Hippo Vehicle Solutions Limited t/a Hippo Finance is authorised and regulated by the Financial Conduct Authority. FRN 658076. Company number 06215364, registered company address – Unit 26, Trident Park, Trident Way, Blackburn, BB13NU. We are a Credit Broker not a Lender and can introduce you to a limited number of lenders. Subject to status and to UK residents only (excl. the Channel Islands). Individuals must be 18 or over. Guarantees and indemnities may be required. We typically receive a commission for introducing you to a lender, the commission we receive may be preset but can vary and impact the amount payable. Images for illustrative purposes only. Hippo Vehicle Solutions Limited t/a Hippo Finance is an Appointed Representative of AutoProtect (MBI) Limited for insurance distribution purposes. AutoProtect (MBI) Limited is authorised and regulated by the Financial Conduct Authority. Its firm reference number is 312143. You can check this at www.fca.org.uk

We endeavour to ensure that all information including the specifications and finance availability are accurate. Whilst we make every effort to display correct information we are aware that errors may occur occasionally. We are not able, therefore, to guarantee the accuracy of all information especially when given to us by third parties. If you do require clarification of some information you have seen on our website, please email us at [email protected]. This does not affect your statutory rights.

Our registered office is Unit 26 Trident Park, Trident Way, Blackburn, BB1 3NU.

When completing an application on this site we will automatically check your eligibility across a range of finance & leasing products to provide you with the best selection of options that we can. Below is a Representative Examples of our HP finance options for comparison, we expect more than 51% of customers to achieve the rates shown.

Representative Example Of Credit (Hire Purchase)
Hire Purchase (HP) Finance Example: Cash Price £12,480.00 Total Deposit £1,140.00. Total Amount of Credit £11,340.00. 60 monthly repayments of £284.50. Interest Charges of £5,730.00 Total Amount Payable £18,309.00. Annual Fixed Interest Rate of 11.1%. Representative APR 18.9%.