Clarification on Discretionary Commission

  1. At Bad Credit Motor Finance, we prioritise transparency and clarity in all aspects of our operations, including our commission model and its implications for our customers. Here, we aim to provide general information to address common concerns:

    Commission Model: Bad Credit Motor Finance operates with a commission model that ensures fairness and transparency in the financing process. While we do receive a commission from lenders for facilitating motor finance, our commission structure does not affect the Annual Percentage Rate (APR) offered to our clients in any manner. The interest rates on loans are fixed by our lending partners and are non-negotiable by our team.

    Discretionary Commission: The term “discretionary commission” refers to a practice where brokers have the latitude to adjust the APR of a loan at their discretion, potentially leading to higher costs for consumers. This practice was banned by regulators prior to our inception as a broker. Hence, none of our lending panel have ever offered a discretionary commission model whilst we were partnered with them.

    Our Commitment: We have and will always offer our customers with the lowest APR rate available from our lending partners. We will only provide a higher rate if circumstances dictate that there is vested interest and explicit permission given from the customer after a thorough explanatory comparison of the quotes. Our primary objective is to ensure transparency and fairness in our business practices, whilst giving customers the autonomy to make well-informed decisions.

    Further Assistance: For further information or any additional questions, please feel free to request a callback. We are here to assist and ensure your satisfaction with our services