Initial Disclosure

The Financial Conduct Authority (FCA) is the independent regulator of financial services. The FCA require us to provide you with an Initial Disclosure Document to help you decide if our services are right for you. This document provides information about Nationwide Vehicle Contracts Limited, the products we offer, the services we will provide, what we charge for our services, who regulates us, what to do if you have a complaint, and details about the Financial Services Compensation Scheme.

About Nationwide Vehicle Contracts

Nationwide Vehicle Contracts Limited is authorised and regulated by the Financial Conduct Authority (FCA). Nationwide Vehicle Contracts Limited is a credit broker and not a lender. We are permitted by the FCA to carry out credit broking, debt administration, debt counselling and advising in regard to the arrangement of non-investment insurance products.

Our registered address is Unit 9, Christie Way, Christie Fields, Manchester, M21 7QY. Our Financial Conduct Authority Firm Reference Number is 668741. You can verify our status on the Financial Services Register by visiting the FCA website at or by contacting the contact centre on 0800 111 6768.

The finance products we use

As a Financial Conduct Authority regulated credit broker, we may introduce you to a range of finance providers who may be able to help you finance your vehicle and provide other products/services, such as vehicle maintenance and servicing packages.

We will only offer products from a carefully selected panel of finance providers. We will not refer you outside of this panel without your consent. You can ask us for a list of the suppliers who provide our finance and insurance products. All the products we offer are optional.

We may receive a commission or other benefits from one of our finance providers should you decide to enter into an agreement with them as a result of our introduction or from another credit broker to whom we refer you should we be unable to arrange funding for you. In some instances, we may receive a commission from the vehicle supplier. These payments could be reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder or supplier selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders or suppliers may also pay us an additional commission based on business volumes. If you would like more information regarding the disclosure of commissions, please email [email protected]

The charge for our credit broking services

Nationwide Vehicle Contracts Limited do not charge a fee for arranging your finance agreement. We may charge a fee for amendments made during the course of your finance agreement as follows: 

Contract Extension – At the end of your contract agreement and subject to approval by the finance provider, you may be able to extend your contract. Nationwide Vehicle Contracts Limited will charge a contract extension arrangement fee of £100 excl. VAT for a six-month extension and £125 excl. VAT for a 12-month extension. The contract extension fee is payable by debit or credit card or by BACs payment and will be taken on receipt of your signed finance documentation detailing the amendment. Please note, this option is not available with all funders. Please speak to your sales consultant for further information or e-mail [email protected]

Contract Mileage Amendments – Subject to approval by the finance provider, contract mileage amendments (e.g. reductions and extensions) will be charged a fee of £100 excl. VAT. The contract mileage amendments fee is payable by debit or credit card or by BACs payment and will be taken on receipt of your signed finance documentation detailing the amendment. Please note, these options are not available with all funders. Please speak to your sales consultant for further information or e-mail [email protected]

Transfer of Contract – In the instance that a transfer of contract name is required for a private individual, sole trader, partnership or LLP, Nationwide Vehicle Contracts Ltd will charge a fee of £400 excl. VAT subject to approval by the finance provider. This fee represents two costs, £200 (excl. VAT) of which is paid to the finance provider for the administration of the Transfer of Contract agreement and £200 (excl. VAT) of which represents the costs incurred by Nationwide Vehicle Contracts for processing the arrangement on your behalf. The transfer of contract fee is payable by debit or credit card or by BACs payment and and will be taken prior to finance proposal. This fee is payable even if you do not complete for any reason but does not apply if you fail to pass eligibility checks. Please note, this option is not available with all funders. Please speak to your sales consultant for further information or e-mail [email protected]

Novation Fee - In the instance that a transfer of contract name is required for a Limited Company, Nationwide Vehicle Contracts Ltd will charge a fee of £400 excl. VAT subject to approval by the finance provider. This fee represents two costs, £200 (excl. VAT) of which is paid to the finance provider for the administration of the Novation agreement and £200 (excl. VAT) of which represents the costs incurred by Nationwide Vehicle Contracts for processing the arrangement on your behalf. The novation fee is payable by debit or credit card or by BACs payment and and will be taken prior to finance proposal. This fee is payable even if you do not complete for any reason but does not apply if you fail to pass eligibility checks. Please note, this option is not available with all funders. Please speak to your sales consultant for further information or e-mail [email protected]  

Additional Charges - In certain cases, we may apply an administration fee of £15 (excl. VAT) for additional services, such as generating parking permits, congestion, ULEZ, clean-air zone and/or toll or dart documents. This fee represents the expenses incurred for additional administrative work and record-keeping. This fee is payable by debit or credit card or by BACs payment and is taken before we produce the necessary paperwork.

The insurance services we provide

Nationwide Vehicle Contracts Limited is an insurance intermediary. We will advise and make recommendations for you after we have assessed your needs for Contract Hire and Lease GAP Insurance and/or Tyre and Alloy wheel and SMART repair insurance. 

The charge for our insurance services

We do not charge fees for our insurance related services nor do we receive any additional commissions from the insurer over and above our published list price for each given product. Our margins for regulated GAP Insurance policies are within the guidelines issued by the FCA (Financial Conduct Authority) and can be compared with like for like products in the open market.

We hold any insurance money (premiums/refunds) as the agent of the insurance provider under a Risk Transfer Agreement. 

Confidentiality and data protection

As part of the process of obtaining finance and non-investment insurance products for your vehicle we will need to pass your details on to one or more of our finance/insurance providers. A list of these partners is available on request together with their FCA firm reference numbers. Any organisation approached to arrange credit will need to undertake credit searches with a credit reference agency which could affect your credit rating. All our calls are recorded for training and monitoring purposes.

The regulator

Nationwide Vehicle Contracts is authorised and regulated by the Financial Conduct Authority. Our registered address is Unit 9, Christie Way, Christie Fields, Manchester, M21 7QY. Our Firm Reference Number is 668741. 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.

Dispute Resolution and Complaints

We work hard to ensure that the services we offer are fair and that our communication to our customers is clear and not misleading. However, if you are unhappy with our service and you wish to register a complaint, please contact us:

…in writing Customer Resolutions, Nationwide Vehicle Contracts, Unit 9, Christie Way, Christie Fields, Manchester, M21 7QY 
… by phone 0800 091 9595
… by email [email protected]

To help us resolve your problem, you should provide the following information:

We will answer any complaints as quickly as possible but always within eight weeks. 

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service or the BVRLA (British Vehicle Leasing & Rental Association).

A copy of our full complaints procedure is also available here: Complaints Procedure

The Financial Services Compensation Scheme (FSCS)

Our insurers are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if the insurer is unable to meet its obligations. This depends on the type of business and circumstances of the claim. Insurance advising and arranging is covered for 90% of the claim amount, without any upper limit.

For further information about the scheme (including the amounts covered and eligibility to claim), you can contact the FSCS helpline on 0800 678 1100 or 0207 741 4100, visit the website www.fscs.org.uk or write to Financial Services Compensation Scheme, PO Box 300, Mitcheldean GL17 1DY.