FCA application

[SouthernTrader 20]

Quick question in regards to the FCA application process. I’ve completed it all online to the best of my knowledge.

If there are genuine  mistakes/errors will they pick those up and contact me to clarify or will the application get thrown out or delayed months? Anyone have any experience of this?

I tried asking a finance lender for help and while they did give me some guidance and help as I’m still small time (8-12 cars) I’m not a priority which is understandable 

[Blenheim Car Sales 111]

only mistake i made was adding far to many boxes that i wanted authorisation on and the  fees were crazy, had to amend it and sent it back into the system, 

they will let you know

[stockedup! 63]

I found them incredibly helpful and fair when I had dealings with them

[JDM1983 28]

I only have 2 cars and Close met me twice to help. 

In my case, I followed Close advise and filled out to the most basic level possible. My approval came through without any questions asked 3 weeks later.

I hope you ticked the boxes for credit brokering, debt councilling and debt adjustment, as a lot of brokers require you to have these

[SouthernTrader 20]

Thanks for the advice, I’ve submitted it so will see how it goes

[justlooking 48]

1 hour ago, SouthernTrader said:

Thanks for the advice, I’ve submitted it so will see how it goes

I'm surprised Close won't help you with the application, we all start somewhere, 8 cars can quickly turn to 20 cars

[SouthernTrader 20]

They did email me some guidance but I was hoping to meet a rep for a quick chat and some help with the application.

They suggested I sign up with a broker first as they didn’t think I’d be doing more than a couple finance deals in a 3 month period at which point I’d get dropped by Close for lack of business. My personal thoughts on this are I’m going to try and encourage as many of my customers as possible to take finance and I’m going to actively promote it on social media etc.

Anyway, if anyone can recommend a good broker for me to work with when the Application goes through?

[David Horgan 564]

Finance Companies are having a hard time at present . Cant see Close chucking you out for 3 a month 

Lots of factors are making it hard for them .

Bank of mum and dad , Bank of grand parents , Bank loans at supposed ed lower rates , All depends what price bracket your in . 

£4,000 to £7,000 loan rates are very competitive at present 

[Mark101 536]

25 minutes ago, David Horgan said:

Cant see Close chucking you out for 3 a month 

 

2 hours ago, SouthernTrader said:

they didn’t think I’d be doing more than a couple finance deals in a 3 month period

 

Edited August 28, 2019 by Mark101

[David Horgan 564]

38 minutes ago, Mark101 said:

they didn’t think I’d be doing more than a couple finance deals in a 3 month period

When we started with finance we were lucky to get 1 a month .

Takes a while to learn how to sell it in my books , but when you have got that sorted its a very good tool to have in the draw .

I've done two finance deals this morning , Finance companies have widened the scope to say yes , they want the deals at present as its a slow time for them . 

[Mark101 536]

4 minutes ago, David Horgan said:

When we started with finance we were lucky to get 1 a month .

Takes a while to learn how to sell it in my books , but when you have got that sorted its a very good tool to have in the draw .

I've done two finance deals this morning , Finance companies have widened the scope to say yes , they want the deals at present as its a slow time for them . 

I only did one or 2 a month when first registered.  Think I have done 5 this month, so looking forward to the cheque next month.

[David Horgan 564]

1 hour ago, Mark101 said:

Think I have done 5 this month, so looking forward to the cheque next month.

Nice result Mark . Makes a good month even better doesn't it 

[Mark101 536]

3 minutes ago, David Horgan said:

Nice result Mark . Makes a good month even better doesn't it 

What I like most is it is equivalent to selling a couple more cars without any extra effort AND it hits the account in September, so I can hit the ground running.

[David Horgan 564]

Just now, Mark101 said:

What I like most is it is equivalent to selling a couple more cars without any extra effort

Just said the same thing about the two this morning , Got one tomorrow and one Sunday both requiring finance . One at 5k and one at 12 k so be nice results . 

I had a stunning July on Finance and August so far has been very productive too .

Sold a Fiesta ST  for 10 k in March  and now he wants to upgrade to a 13k GTI  with same finance company , just popped out the 3 month claw back so will keep that commission so get two hits on the ST  and one on the GTI  , as I got  the ST sold when it comes back on finance  so  boom boom 

 

[Mark101 536]

3 minutes ago, David Horgan said:

Just said the same thing about the two this morning , Got one tomorrow and one Sunday both requiring finance . One at 5k and one at 12 k so be nice results . 

I had a stunning July on Finance and August so far has been very productive too .

Sold a Fiesta ST  for 10 k in March  and now he wants to upgrade to a 13k GTI  with same finance company , just popped out the 3 month claw back so will keep that commission so get two hits on the ST  and one on the GTI  , as I got  the ST sold when it comes back on finance  so  boom boom 

 

Result mate 

[David Horgan 564]

1 minute ago, Mark101 said:

Result mate 

It was so quick with Moto Novo as well , just popped his name in the proposal and they pre filled in every thing else as it was still recorded on file , acceptance in less than 2 seconds and e signed in 5 min .He only came to get his tyres pumped up and left with a new car 

I love the deals in this game