What a car finance broker does
A credit broker helps connect a customer, vehicle and potential finance provider. The broker can collect relevant information, explain the available route and make an introduction, but it does not guarantee acceptance or make the lender's decision.
The provider completes its own identity, credit and affordability checks and sets the APR, deposit, term and other agreement conditions. Different providers can use different criteria.
Our limited panel and commission
HQ Sourcing Ltd can introduce customers to a limited number of finance providers rather than searching every lender in the market. A suitable introduction is not the same as independent financial advice or a whole-of-market comparison.
We may receive commission from a provider if an introduction results in an agreement. The nature and basis of commission will be explained before an agreement is entered into, and the amount is available on request.
Questions to ask before proceeding
Ask which provider is being considered, what type of credit search may be used, how the APR and total payable compare, and whether the broker receives commission. Read the pre-contract information and agreement before deciding.
- Which provider may supply the finance?
- Is the panel limited?
- What search will be carried out?
- What is the total amount payable?
- How is commission handled?
