3rd party company for FCA approval

[D7neo 5]

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

[SC Derby 259]

It's less than two hours work if you do it yourself.

[NOACROSS 414]

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

 

[Rory RSC 596]

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.

[David Ayers 171]

" I trade from home at the moment on a party time basis"

Beats sitting around on a forecourt.

[EPV 631]

Just completed mine, with the assistance of a Close representative 

[D7neo 5]

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.

[Nick M.K. 574]

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...

[NOACROSS 414]

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. 

[D7neo 5]

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?

[Natalie Draper 1]

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 

[D7neo 5]

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.

[D7neo 5]

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

[Nick M.K. 574]

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. 

[D7neo 5]

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?

[Nick M.K. 574]

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. 

[Natalie Draper 1]

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. 

[Beautiful South Martin 24]

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.