Commission Disclosure
How VCEA is paid for arranging vehicle finance and leasing, and how we protect your interests as an independent broker.
Vehicle Consulting East Anglia ("VCEA", "we", "us" or "our") is a trading name of C&N Consulting Services Ltd, an FCA-authorised and regulated credit broker (Firm Reference Number: 1029606) and a member of the British Vehicle Rental and Leasing Association (BVRLA).
As a credit broker, we are required by the Financial Conduct Authority to be transparent about how we are paid. This page explains the commission and fee arrangements behind the vehicle finance and leasing products we arrange, so you can see exactly how our services are funded.
1Who we are
VCEA is an independent broker. We are not owned by, or tied to, any single vehicle manufacturer, dealership or funder. We work with a panel of leasing companies, funders and lenders to source contract hire, van leasing, salary sacrifice and fleet finance on your behalf.
2How we are paid
When we successfully arrange a vehicle lease or finance agreement for you, the funder or leasing company providing that agreement typically pays us a commission. This is standard practice across the vehicle leasing and motor finance industry, and it is this commission — rather than a direct fee charged to you — that funds our advice and administration in the majority of cases.
In some circumstances, particularly for fleet management services or bespoke arrangements, we may also charge a separate broker or management fee. Where this applies, it will always be disclosed and agreed with you in writing before you proceed.
3Types of commission
Commission arrangements in vehicle finance generally fall into the following categories:
| Commission type | How it works |
|---|---|
| Fixed commission | A pre-set amount or percentage agreed between us and the funder, which does not change based on the interest rate or terms offered to you. This is the most common structure for the business contract hire and leasing products VCEA arranges. |
| Volume-based commission | Payments that may reflect the overall level of business we place with a funder over time, rather than the terms of any single agreement. |
| Discretionary commission arrangements (DCAs) | A historic industry practice, now banned by the FCA since January 2021, where a broker's commission could vary based on the interest rate charged to the customer. VCEA does not use discretionary commission arrangements. |
The exact commission we receive can vary between funders and products, reflecting differences in their own commercial arrangements rather than any difference in how hard we work on your behalf.
4Our independence & your interests
Because commission could, in principle, create an incentive to favour one funder over another, we manage this conflict of interest by:
- Basing recommendations on your budget, mileage, vehicle needs and business circumstances, not on which funder pays the highest commission
- Working with a broad panel of reputable funders and manufacturers, so no single relationship dominates our business
- Not using discretionary commission arrangements that could reward us for a customer paying more
- Training our consultants on their obligations under the FCA's Treating Customers Fairly principles
- Reviewing customer outcomes and complaints to identify and correct any patterns of unsuitable recommendations
5Fees you may pay
Commission from funders covers the majority of our advice and administration, so in most cases arranging your vehicle finance or lease through VCEA does not cost you more than approaching a funder directly. However, this is not always cost-free to you.
We charge an administration fee of between £0 and £999 plus VAT, depending on the financial provider used for your agreement. This fee covers the additional administrative steps that we manage on your behalf during the arrangement of your finance or lease. Where an administration fee applies, the exact amount will be disclosed and agreed with you in writing before you proceed, alongside any commission we will receive as set out in this disclosure.
6Payment terms & late payment
Unless otherwise agreed with you in writing, invoices for amounts due to us are issued following delivery of the vehicle and are payable within 14 days of the date of invoice.
If payment is not received in full within this 14 day period, interest will accrue on the outstanding balance at a rate of the Bank of England base rate plus 8% per annum, calculated daily from the invoice due date until the date payment is received in full. This is in addition to, and does not affect, any other rights or remedies available to us in respect of late payment.
7Your right to ask
You have the right to ask us, at any time, for the amount of commission we will receive or have received in connection with your agreement. We will provide this information on request, before or after you enter into a contract.
To request this information, contact your consultant directly or use the details in the Contact Us section below, quoting your name and agreement or quote reference.
8If you're unhappy
If you have concerns about a commission arrangement relating to your agreement, or believe you were not given clear information at the time, please raise this with us directly so we can investigate. If you remain dissatisfied with our response, and you are eligible to do so, you may be entitled to refer your complaint to the Financial Ombudsman Service, free of charge, at financial-ombudsman.org.uk.
9Contact us
If you have any questions about this disclosure, or would like details of the commission relating to your own agreement, please get in touch.
Ask us about commission
C&N Consulting Services Ltd, trading as Vehicle Consulting East Anglia (VCEA)