Commission Disclosure Policy for Customers
Kudos Vehicle Management Limited (Kudos) is committed to putting our customers’ needs first, delivering excellent service, simplifying the finance process, and identifying the right vehicle for you.
We do not provide advice. However, we will give clear, straightforward information to help you understand how our products and services work, enabling you to make an informed decision and choose what best meets your needs.
We act as a broker, not a funder. This means we introduce you to finance solutions through a carefully selected panel of funders. We only provide products and pricing from this panel and do not search the entire market for alternative funding options.
As part of our service, we will source your vehicle from a preferred network of main dealers. We may also inform you about additional products or services that may be of interest, such as service, maintenance, and repair packages to help with budgeting.
Income We Receive
We receive income to support our business, primarily through commission for introducing customers to finance providers. We may also earn income from additional sources, as outlined below.
Our Funding Partners - Introductory Commission
We receive commission from funders for introducing you to them. This may be:
· A fixed amount
· A variable amount within fixed parameters set by a funder
· A capped percentage of the vehicle’s taxable list price
· A percentage-based commission for purchase agreements
This commission is not shown separately in your agreement but is included within:
· The Total Rentals Payable (for hire agreements), or
· The Total Amount Payable (for purchase agreements)
As a result, higher commission levels will increase the overall cost of hiring or financing your vehicle.
Funding Partners – Additional Revenue
We may receive additional income from funders based on performance or as marketing support for promoting their products and services.
Main Dealer – Introductory Commission
We may receive commission for introducing you to a manufacturer’s finance provider, typically through a main dealer. This payment may be derived from the dealer’s total earnings, including profit on the vehicle.
Procurement Fees
We charge fees for our services, which are detailed separately in the Information Notice and Initial Disclosure Document.
Other Products and Services
We may also receive commission for introducing you to providers of additional products or services.
Income – Summary
We will only receive income where:
· You enter into an agreement with a funder or supplier, or
· We successfully source a vehicle for you
We want to be transparent about commission because:
· It may act as an incentive when presenting certain products
· It may influence our impartiality and create a potential conflict of interest
· It may have a significant impact on the decision you choose to make
Want to know how much we’ll earn?
We encourage you to shop around to ensure you’re getting the best deal.
If you proceed with us and you are a consumer (regulated agreement), we will automatically disclose our earnings in our Commission Disclosure and Consent Form.
The same applies to:
· Sole traders, and
· Small partnerships where the agreement is regulated under the Consumer Credit Act
For business customers (non-regulated customers), we will provide commission details where required by the finance company. Otherwise, you are welcome to request this information at any time.
You can contact us by:
· Phone: 01422 229109
· Email: [email protected]
· Post: Kudos Vehicle Management Limited,
24 Ripponden Business Park,
Oldham Road, Ripponden, HX6 4FF
We will respond to all enquiries within 5 working days.