D7neo 5 Posted July 10, 2018 Has anyone used a 3rd party company to help with the FCA approval system? I trade from home at the moment on a party time basis, typically LCV's and minibuses between 3-6 years old, values ranging from 8-12k. Vat registered limited company, approaching the end of my first years trading. I think having the opportunity to offer finance will help sales, however, im struggling to get any of the finance companies to help. Is there a company any of you has used? Im getting to the point where I would rather pay someone a one off fee just to get it sorted so it will speed the process up for me. Flippingcars.co.uk offers it for £500+vat, does anyone have any experience with them? Thanks Dane Share this post Link to post Share on other sites
SC Derby 259 Posted July 10, 2018 It's less than two hours work if you do it yourself. Share this post Link to post Share on other sites
NOACROSS 414 Posted July 10, 2018 Blue Finance will help you/do it for you for free. The Rep. Natalie is on here and is very helpful - her number is 07849 832045 http://cardealermagazine.co.uk/forum/topic/5009-fca-registered/?page=2#comment-37867 Share this post Link to post Share on other sites
Rory RSC 596 Posted July 10, 2018 39 minutes ago, D7neo said: Flippingcars.co.uk offers it for £500+vat, does anyone have any experience with them? Thanks Dane Ill do it for £350 cash for you. PM me. Share this post Link to post Share on other sites
David Ayers 171 Posted July 10, 2018 " I trade from home at the moment on a party time basis" Beats sitting around on a forecourt. Share this post Link to post Share on other sites
EPV 631 Posted July 10, 2018 Just completed mine, with the assistance of a Close representative Share this post Link to post Share on other sites
D7neo 5 Posted July 10, 2018 2 hours ago, NOACROSS said: Blue Finance will help you/do it for you for free. The Rep. Natalie is on here and is very helpful - her number is 07849 832045 http://cardealermagazine.co.uk/forum/topic/5009-fca-registered/?page=2#comment-37867 Spoke to natalie, she put me in to contact with my local rep, who I haven't heard back from. Close brothers have been sending someone out to me for 6 months. Share this post Link to post Share on other sites
Nick M.K. 574 Posted July 10, 2018 8 minutes ago, D7neo said: Close brothers have been sending someone out to me for 6 months And they didn't help with the registration? Really odd... Share this post Link to post Share on other sites
NOACROSS 414 Posted July 10, 2018 7 minutes ago, D7neo said: Spoke to natalie, she put me in to contact with my local rep, who I haven't heard back from. Close brothers have been sending someone out to me for 6 months. I’ve messaged her for you. They’ve been excellent for us. Share this post Link to post Share on other sites
D7neo 5 Posted July 10, 2018 4 minutes ago, NOACROSS said: I’ve messaged her for you. They’ve been excellent for us. I have spoke to Natalie myself, she was more than helpful, but I am out of her area, but thanks all the same, much appreciated. I am attempting to do it myself online, it seems to be a different form than last time I tried it. It is asking for 'Details of auditor/reporting accountant' - Is that just my accountant or something completely different? Share this post Link to post Share on other sites
Natalie Draper 1 Posted July 10, 2018 Hi, did you call Alex the rep whose number I gave you? If you call the fca they will take you through it step by step. The most important thing is that you need credit broking, debt adjusting and debt counciling and yes that’s your accountants details they are asking for. natalie Share this post Link to post Share on other sites
D7neo 5 Posted July 10, 2018 1 hour ago, Natalie Draper said: Hi, did you call Alex the rep whose number I gave you? If you call the fca they will take you through it step by step. The most important thing is that you need credit broking, debt adjusting and debt counciling and yes that’s your accountants details they are asking for. natalie Hi Natalie, spoke to Ale, he said he may not be able to help as I am a home trader and they have had issues with them in the past. I have sent him everything he asked for anyway. I have now done the majority of the application. thanks again for your help. 1 Share this post Link to post Share on other sites
D7neo 5 Posted July 10, 2018 (edited) Application is now complete and submitted! I dont know what form I downloaded last time I looked into it but it certainly wasnt as straight forward as that one. Just had an email to say I have to upload a CV and 'supporting documents'. Cv wise, I have only been in the vehicle sales for 12 months, have people included live before sales as part of it? What supporting documents have people submitted? How long are people waiting on average to hear back from the application? Thanks for all the help Edited July 10, 2018 by D7neo errors Share this post Link to post Share on other sites
Nick M.K. 574 Posted July 10, 2018 13 minutes ago, D7neo said: How long are people waiting on average to hear back from the application? From memory I think it took 5 weeks until I got my FRN registration number. Share this post Link to post Share on other sites
D7neo 5 Posted July 10, 2018 3 hours ago, Nick M.K. said: And they didn't help with the registration? Really odd... nope, got bored of chasing them after a few months. Cheers Nick, does that allow you to then register with the likes of blue motor/close? Share this post Link to post Share on other sites
Nick M.K. 574 Posted July 10, 2018 You can actually register with them straight away to get some of the admin out of the way and when you get the FRN number you can start proposing deals. 1 Share this post Link to post Share on other sites
Natalie Draper 1 Posted July 10, 2018 3 hours ago, D7neo said: nope, got bored of chasing them after a few months. Cheers Nick, does that allow you to then register with the likes of blue motor/close? Hi fca says it can take anything from 4 weeks to 6 months but I’ve never known an application to take 6 months. Average is around 8/12 weeks. Also you don’t need to submit anything else unless they ask. I would just call them this week to make sure they have everything etc. Share this post Link to post Share on other sites
Beautiful South Martin 24 Posted July 11, 2018 Close Bros did mine for me a couple of years ago and Ive used them ever since and find them really good to deal with. Obviously different account managers in different areas, mines really on the ball. Share this post Link to post Share on other sites