Initial Disclosure Document

For the PDF file, please click HERE

My Electric Lease is a trading style of U.K. Carline Limited which also trades as, RMi Contract Hire Division, RMi Courtesy Cars, Business Drive Direct and UK Leaseline is authorised and regulated by the Financial Conduct Authority. Our Financial Conduct Authority Firm Reference number is 657006. Our permitted business is credit broking.

You can check this in the Financial Conduct Authority's register by visiting the Financial Conduct Authority's website www.fsa.gov.uk/register/, or by contacting the Financial Conduct Authority on 0800 111 6768.

The Regulator - Financial Conduct Authority (FCA)

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 My Electric Lease, 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.

U.K. Carline Limited is authorised and regulated by the Financial Conduct Authority. 

"U.K. Carline Limited trading as My Electric Lease is a credit broker and not a lender.

Our permitted business is credit broking, debt adjusting and debt counselling.

Our registered address is Sunnybank House, Bilsborrow Lane, Bilsborrow. Preston. PR3 0RN. Our Financial Conduct Authority Firm Reference Number is 657006.

You can check this in the Financial Conduct Authority's register by visiting the Financial Conduct Authority's website FCA Website or by contacting the Financial Conduct Authority on 0800 111 6768.

You can also check our About Us page for further information about who we are and what we do.

The Credit Broking Services We Provide

We will provide you with either comparable details of firms most appropriate to your finance requirements, or more general information relating to finance products. To help assist us in assessing your demands and needs we may seek information about your personal circumstances and objectives which may be relevant, in order to enable us to identify your requirements. It is important that you provide us with accurate and relevant information so we can offer the best possible solution applicable to you.

The finance products do 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 also provide you with other products and services, such as Service, Maintenance and Tyre packages.

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

We will receive a commission from one of our finance providers should you decide to enter into an agreement with them because of our introduction. This is reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders may also pay us an additional commission based on business achieved. Some funders also pay us an additional commission based on business achieved. Different lenders may offer differing interest rates of which UK Carline has no control. If you would like further information regarding the disclosure of commissions, please email [email protected]  

The charge for our credit broking services.

My Electric Lease charges a fee for our credit broking services.

Processing Fee - We charge a processing fee of £269.99 (inclusive of VAT) for our services. The processing fee is the broker fee charged by My Electric Lease for our services and represents the costs incurred for arranging the sale, ordering the vehicle, and arranging and processing the finance. The processing fee is payable by debit or credit card using our online payment system Stripe, or by BACs payment and is taken once finance approval has been received, along with all relevant paperwork signed by yourself instructing us to place an order on your behalf.

Administration Fee - For certain agreements, you may also be charged an additional administration fee by the finance provider. The administration fee is payable by debit or credit card using our online payment system Stripe, or by BACs payment and is taken once finance approval has been received, along with all relevant paperwork signed by yourself instructing us to place an order on your behalf. If an additional administration fee is payable, we will notify you before accepting your order. Please note that administration fees are mainly added to purchase agreements, rather than lease agreements.

Contract Extensions - When your lease contract is coming to the end of the agreement, you may be able to extend your contract, subject to finance company approval. UK Carline Limited will charge a contract extension arrangement fee of £150 (inclusive of VAT) for a 6-month or 12-month extension. The contract extension fee is payable by debit or credit card using our online payment system, Stripe, or by BACs payment and is taken on receipt of your signed finance documentation detailing the extension and contract amendment. Please be aware that this option is not available with all finance companies. Please contact our In Life team to find out if you can extend your contract by emailing [email protected] 

Contract Mileage Amendments - You may be able to increase or decrease your contracted mileage allowance mid-contract, this will be subject to finance company approval and not all finance companies allow mileage amendments. My Electric Lease will charge a contract amendment fee of £120.00 (inclusive of VAT). The contract amendment fee is payable by debit or credit card using our online payment system Stripe, or by BACs payment and is taken on receipt of your signed finance documentation detailing the contract amendment. Please contact our In Life team to find out if you can amend your contract by emailing [email protected] 

Confidentiality & Data Protection

As part of the process of obtaining finance for your vehicle, we will need to pass your details on to one or more of our finance partners. A list of these partners together with their consumer credit licence numbers are available on request. Any organisation approached for credit will need to undertake a credit search with a credit reference agency which may affect your credit rating. All calls are recorded for training and monitoring purposes.

Dispute Resolution and Complaints

As an organisation, we are committed to treating our customers fairly before, during, and after a sale. We adhere to the Consumer Duty rules from the Financial Conduct Authority. We work hard to ensure that the services we offer are fair and our communication to our customers is clear and not misleading.

Before the sale, you can expect:

• To have any significant and unusual exclusions or exceptions to the policy brought to your attention
• A clear statement of price, including where applicable a breakdown of any interest charges
• Details of your cancellation rights and our complaints procedure
• Copies of your policy documentation or information as to when these documents will be dispatched

After the sale, you can expect:

• Not to encounter any barriers to cancellation within regulatory agreed timeframes
• To have any complaint dealt with in a timely and professional manner

If at any time you feel you have not been treated fairly by any member of our team please contact us: 

Email:          [email protected]

Phone:         01995 642440

Mail:            Customer Resolutions, My Electric Lease, U.K. Carline Limited, Sunnybank House, Bilsborrow Lane, Bilsborrow. Preston. PR3 0RN

To help us resolve your complaint quickly, please provide the following information:

• Your full name and contact details
• Full details of your complaint
• Details of your lease agreement, quotation or registration number
• Copies of any relevant documents, photographs and emails
• Details of how you would like us to make things right

We will do our best to answer any complaints as quickly as possible and always within 8 weeks. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. You can find details of the Financial Ombudsman Service FOS or the BVRLA (British Vehicle Leasing & Rental Association) A full copy of our complaints procedure is here.

If you have any questions or queries please contact Sarah Latimer, Quality Assurance Manager on 01995 642440 or email [email protected]
who will be happy to help.