CUSTOMER COMMISSION CONSENT

THIS IS IMPORTANT INFORMATION PROVIDED BY HARWOODS LTD ABOUT THE COMMISSION WE RECEIVE FROM A FINANCE COMPANY.

What is the Dealer’s role?

When we introduce you, we are acting as a “credit broker”. When we introduce you to a lender we are not acting impartially. We are not giving you advice or recommendations. Depending on your situation, you may find a better deal if you look around.

What commission is paid to the Dealer?

If you enter into the proposed finance agreement with the lender, they will pay us commission. The commission can be calculated in two different ways depending on the vehicle being financed. The one that applies in your case is completed below.

Commission calculation 1: This is a fixed amount that the lender will pay us for introducing you

Commission calculation 2: The commission amount is calculated as a percentage of the Amount of Credit under the proposed agreement. The more you borrow from the lender, the more commission we will be paid.

The fixed amount or percentage may vary by model or age of the vehicle being financed. The amount shown above is the commission we will be paid for your agreement. The APR interest rate that you pay for your finance agreement with us is fixed. We cannot change the APR and/or the commission for your finance agreement. We take into account the payment of commission when we set the APRs which we offer to customers. The commission is subject to change if the amount of credit changes prior to the finance agreement being concluded. The lender may alter the commission paid to us or our commercial arrangements with the lender may change before your finance agreement is concluded. If the commission paid to us changes, we will confirm the new commission in good time before you sign your finance agreement.

If your application is not accepted by that lender and your finance is placed with a different lender we will update you with a revised commission figure.

We are not guaranteed to retain the commission. Under certain circumstances, including if you settle your agreement early or voluntarily terminate your agreement, we may need to return to the lender the commission paid to us.

If you have any questions, please discuss them with the dealership Sales Manager or General Manager before signing.

Customer consent: You can choose whether to continue with the finance deal or look around for other alternatives