Car Planet Trading Limited operates as an Appointed Representative of Automotive Compliance Ltd, which holds authorization and regulation from the Financial Conduct Authority (FCA No 497010). This affiliation empowers Car Planet Trading Limited, acting as a credit broker rather than a direct lender, to connect you with a carefully selected group of lenders. Furthermore, Car Planet also serves as an agent on behalf of insurers for specific insurance distribution activities.
As a credit brokerage, Car Planet’s primary role is to introduce you to a limited network of lenders and their diverse range of finance products. It’s important to understand that Car Planet functions as a broker, not an independent financial advisor, and acts as an agent for the lenders in these introductions. While Car Planet may provide insights into suitable products based on your individual circumstances, you are under no obligation to follow any advice or recommendations provided. Importantly, Car Planet does not charge you any fees directly for its brokerage services.
When Car Planet introduces you to a lender, it’s typical for them to receive a commission. This commission can be structured as a fixed fee or a percentage of the total amount you borrow. Transparency is key at Car Planet; while the lenders within their network may offer varying commission rates, the commission Car Planet receives has absolutely no bearing on the interest rate you, the customer, will be offered. Car Planet’s overriding objective is to assist you in securing the most favorable finance options, aiming for the lowest possible interest rate from their established panel of lenders for which you qualify. Should you wish to know the precise commission amount, Car Planet is committed to providing this information to you well in advance of finalizing any finance agreement.
It is essential to be aware that all finance applications processed through Car Planet are subject to status and are governed by specific terms and conditions. These finance options are exclusively available to UK residents who are 18 years of age or older. In certain circumstances, guarantees may be a requirement to secure financing.
Please note: A fee of £399 is applicable to customers who choose to utilize a finance broker outside of Car Planet’s official panel of lenders and opt to pay funds directly to Car Planet. This fee is important to consider if you are exploring finance options independently of Car Planet’s established network.
