Motor traders who want to offer their customers finance options or long-term leasing need to be authorised by the FCA. Scott Robert can help you to gain direct authorisation from the Financial Conduct Authority as a limited permission credit broker in the motor trade, allowing you to offer finance to consumers.

Why Offer Finance as a Motor Trader?

There are several key benefits to becoming a limited permission credit broker in the motor trade. We’ve listed these below.

The Benefits

  • Broker credit directly to your customers, improving your sales
  • No more fees to principal firms
  • Fast loan approvals, resulting in quicker sales
  • Grow revenue by increasing average customer spend
  • Market-wide access to the best loan deals
  • Earn extra income from broker fees

Scott Robert will explain everything to you in a clear and straightforward manner, helping you to make the right decision. Better still, it’s cheaper to become a limited permission credit broker than you may think!

Getting Approved Couldn’t Be Easier

We’ve made it as easy as possible for you to offer limited permission credit broker. In fact, there are only four steps to complete.

The Four Easy Steps

Step One: Fact Find Call

During our fact find call we’ll ask you to provide us with information about your proposed business model. This will allow us to identify any key regulatory risks that you may encounter and allow us to mitigate them for you.

Step Two: Regulatory Documents

Having thoroughly reviewed your business model, including any changes to your proposed business plan, we will create the required regulatory documents.

The documents include Regulatory Business Plan, Annual Threshold Condition Assessment, Business Continuity Plan, Compliance Monitoring Plan, Financial Crime Policy, and a Treating Customers Fairly Gap Analysis. Each is essential to your application for authorisation.

Step Three: Online Application

We provide full support for clients completing an online application for authorisation, including the completion of Form A’s and Controller Forms. Our support doesn’t finish once your application has been completed. We will continue to provide you with expert advice right up until the time that your form is submitted to the FCA for consideration.

Step Four: FCA Response

Once your application has been assigned to a case officer at the FCA, they will review it and submit their responses. Any communications tend to include clarification on information you have previously provided across your regulatory documents or a request for additional compliance documentation. Scott Robert will support you throughout the whole process.

Why Choose Scott Robert?

Scott Robert has been supporting firms through the FCA compliance process since 2008. In that time, we have helped hundreds of businesses to successfully gain FCA authorisation.

We employ a team of compliance professionals who are both highly experienced and expertly skilled. We specialise in providing our clients with solutions to the most complex regulatory and compliance needs.

Our team will support you throughout the entire process. From drafting supporting documentation to helping you to complete application forms, we will be there to support you every step of the way.

Scott Robert makes it easier and straightforward for you to become a limited permission credit broker, helping you to improve your motor vehicle trade offerings.

Interested in learning more about how you get FCA authorisation to become approved to offer motor vehicle finance? Call us today by calling 0161 914 5727 to find out more.

Download your FREE compliance fact sheet

Document Title
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FCA Compliance
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FCA Consumer Credit Authorisation
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Find out how we can help you with a free and no-obligation consultation