AUTO GENIUS TERMS

 

ABOUT US

As required by the Financial Conduct Authority (FCA), we are providing to you important information relating to our status, the fee we charge and our cancellation charges.

 

Auto Genius is a trading name of Genius Broker Group Ltd and is authorised and regulated by the Financial Conduct Authority Registered No : 815297. You can check this on the Financial Services register by visiting the FCA’s website at www.fca.org.uk or by contacting the contact centre on 0800 111 6768.

 

Our registered address is Heathwood, Orchard Rd, Orpington, Kent, BR6 7NS

 

Tel: 07958 599100

 

Auto Genius is a credit broker and not a lender.

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OUR FEES & HOW WE CHARGE/TERMS

Broker Fee - £375 per vehicle

Stage 1 - Initial advice & consultation is free of charge

Stage 2 - Research, provisional sourcing, vehicle and finance recommendations and indicative costs which is a bespoke proposal and tailored your requirements.

Stage 3 - Sourcing the vehicle, brokering the market, provisional costings, quoting, sourcing stock and confirmed pricing, confirmations. Includes finance where applicable, finance quoting, managing the finance process, updates on build, arranging delivery and processing of the order. Management of complete order through to vehicle delivery including financial savings. Broker fee includes reasonable level of queries going forward to vehicle delivery and beyond if needed.

Please note:

Fees due @ £75 per hour after work commences at stage 2 if sourcing cancelled, delayed or for failed finance

Fee includes maximum of 5 hours management time. Excess time will be charged at standard hourly rate of £75 per hour. You will be notified when 5 hours management time is reached and additional hours will be communicated at each stage of work completed.

The broker fee is due prior to handing over to our supplier/funder/dealer and prior to finance

All invoices are payable by return once submitted

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Used Vehicle Sourcing - £75 per hour

Used vehicle sourcing takes typically 3-7 hours depending on your requirements (£225 - £525). You will be kept up to date at each stage of work completed on hours spent during the sourcing process. Use Auto Genius as a resource for as little or as much you require.

All invoices are payable by return once submitted

 

CANCELLATION / RIGHT OF WITHDRAWAL

Vehicle Order: After passing finance and for Personal orders only, you have the right to cancel the vehicle order/contract under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013. You have 14 days, starting from the day that the agreement has been signed by both parties to the supplier/funder that you wish cancel and exit the contract. There may be a process fee cancellation cost depending on funder/dealer/supplier used. Please note that the Auto Genius £375 broker fee cannot be refunded in this case as all management work has been completed.

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CAR OR VAN DEPOSITS

For car or van purchase or PCP products, sometimes our suppliers or dealers will require a deposit typically £500 - £1,000 and we will advise you as to whether this deposit is refundable should you cancel the order after paying the deposit.

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PRICE GUARANTEE

We are so confident of providing you with the lowest price on the UK market (at the time of quoting) that we will beat or match any competitor quote. If we can’t do that we will refund any fees*

 

*Conditions:

• Must be a quote from an FCA registered supplier dated within 3 days of the Auto Genius quote

• Must be a full written and confirmed quote

• Vehicle must be the exact same make/model/spec/colour and on the same terms and to the same delivery schedule

• Must be applied for prior to final order confirmation

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CUSTOMER SATISFACTION GUARANTEE

We are so confident of providing you with the best advice and service that we will refund any fees if you are not totally satisfied (must be prior to when final order confirmation has been given by you)

 

COMMISSIONS

We derive part of our revenue from commissions from funders, dealers or other suppliers. If you would like to more information relating to the commissions on your order, please e-mail andy@auto-genius.co.uk . All funders will now also divulge commission levels on regulated agreements and ask you to sign agreement to this.

 

CREDIT APPLICATION FOOTPRINT

Please note that once you have applied for credit, this will leave a footprint on your credit file.

 

AFFORDABILITY

It is your responsibility to check that the vehicle repayments are affordable for the duration of the contract. By applying for credit you agree that you have checked affordability.

 

REPAYABLE AMOUNTS

You have been provided with all quote details including the Auto Genius fee, process fee (if relevant), up-front and any monthly payments for the duration of the contract. It is your responsibility to check all of the costs prior to applying for credit. By applying for credit, you agree that you have checked all of the costs and repayable amounts for the duration of the term.

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WHAT HAPPENS IF YOU CAN NO LONGER AFFORD THE MONTHLY PAYMENTS ON A FINANCE AGREEMENT?

If you decide to not pay your monthly payments due to not wanting your lease an early termination fee will occur. Please note that if non-payment occurs or you want to terminate the credit agreement, the car or van will be repossessed. If you are unable to pay due to illness/ loss of job etc the funder will decide on a penalty fee. Your contract will be with the funder/supplier/dealer that we introduce you to and so you will be bound by their terms and conditions that you have signed.

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DEALING WITH OUR SUPPLIERS & EXCLUSIVITY

We have strategic relationships with the suppliers we introduce you to and you are not permitted to source additional vehicles through them direct without dealing with us first. Due to the fact that we broker the whole market, the optimum deals can change on a daily basis. If you require further vehicles either at or prior to renewal we will source that particular vehicle again by brokering the whole market and in most cases, the optimum price for the new vehicle will be with another one of our extensive suppliers. Please note that our suppliers have agreed to inform us if you approach them directly and if this happens you will be liable to pay our fee of £375 plus any loss of commission. Thank you in advance for your respect in this matter.

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QUOTES FOR VEHICLES

Due to the fact that we broker the whole market, deals can change regularly and without notice. They can also be withdrawn at any time. Information and prices are correct at the time of quoting which can be subject to change due to supply or funder’s terms, dealer discounts or manufacturer’s terms. All quotes are subject to availability and may be withdrawn at any time without prior notice. Please note that final quotes will be dependent on the exact spec of the vehicle. Please note that we do not include for service, maintenance and tyre cover in our quotes. Please ask for further information if you would like to know more about including this option. Please note that the initial quotes we provide are what is available via our on-line broker systems, however, if you want to confirm a quote, then we will then obtain an accurate and official confirmed  quote for that vehicle. Please note that there may be a difference between the initial estimate quote and the confirmed quote.

 

 

MODEL/TRIM/SPECIFICATION/COLOUR

Please ensure that you always go on to the manufacturer’s website to check the manufacturer’s specifications for any vehicle that we quote on. Please also check on the final order that the colour specified is correct. There are a huge number of options with both cars and vans and it is vital that you check detailed manufacturer specifications prior to going ahead with an order.

We recommend that you do some research or a “build” on the manufacturer’s website so that you are clear of the differences in models/engines/spec/trims/options. Once Auto Genius have passed you on to the relevant supplier it is also vital that you re-check that you are 100% happy with the model/engine/spec/trim/options and that it is in stipulated in the correct colour on the final order form. This is your responsibility to check prior to signing the order with the supplier. Auto Genius cannot be held responsible for any change to specification or colour as this responsibility lies with you and the supplier/funder/dealer we pass you on to.

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PAYMENT TERMS

When you wish to proceed with a vehicle, we will issue you an invoice for £375 per vehicle for immediate payment. We will not pass you over to the relevant supplier/funder until this is paid. We can take credit card payments for ease. Please note that manufacturers or our suppliers/funders can change their prices and quotes at any time. Please therefore do not delay in payment as the quote could change between issue of invoice and payment. The Auto Genius invoice must therefore be paid by return. If there was an increase in the quote between when you are sent the Auto Genius invoice and when you pay our invoice and you do not wish to proceed on that deal, we will be happy to broker another optimum priced deal that is available at the time and we will do this for you at no further charge.

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