Initial Disclosure Document
EVOGO Asset Finance Initial Disclosure Document
Important Disclosure from Evogo Ltd
Dear Valued Customer,
Before you finalise your finance agreement, please take a moment to carefully review the information provided below. This document offers important insights into our services, and we encourage you to consider it alongside any pre contract details to ensure our offerings align with your needs.
Who We Are and How We Assist You
Evogo Asset Finance (EAF) is a trading style of Evogo Ltd. EAF operates as an Asset Finance Credit Broker. Evogo Ltd is registered under number 04609642, with our registered office located at 201 Upwell Street, Sheffield, S4 8AL
We are authorised and regulated by the Financial Conduct Authority (FCA) to conduct credit brokerage activities. Our FCA firm reference number is 669005.
Please note: EAF acts solely as a credit broker and is not a financial lender.
Eligibility for Finance Applications
All finance applications are contingent upon your financial standing. Specific terms and conditions will apply, and a guarantee may be necessary.
To apply for finance through us, you must be:
- Over 18 years of age.
- A resident of the United Kingdom.
Crucial Advice: Prior to committing to any credit agreement, please ensure you are capable of meeting the repayments for the full duration of the loan.
Our Lending Panel and Product Offerings
We collaborate with a carefully selected, limited group of financial institutions and credit providers who may be able to offer you financing for your purchase. Our role involves identifying which of these providers on our panel is most suitable for your introduction. It’s important to understand that each credit provider may have distinct cost of funds and associated fees.
We are restricted to offering finance products exclusively from our chosen panel of providers. We will outline the key features of any product you consider. As a credit broker with a specific panel from whom we receive remuneration, EAF is not entirely unbiased and may prioritise its own commercial interests.
In adherence to our regulatory obligations, our primary objective is to facilitate the finance arrangement you were initially quoted from our panel, or a suitable alternative. The commission we receive will never be the sole or overriding factor in determining which lender we introduce you to.
However, the amount of commission we earn may influence our decision. Therefore, you should not interpret our introductions as financial advice or a direct recommendation to you. Depending on your personal circumstances, exploring alternative options independently may allow you to secure a more advantageous or different finance arrangement.
The supplier of the goods may have separate relationships with other credit brokers or lenders, so we advise you to review all information they provide to you.
Evogo does not function as an independent financial advisor. While we will provide details about the products available from our partner lenders, we will not offer specific advice or recommendations. The ultimate decision on whether a finance product is right for you rests solely with you. For guidance on tax implications and to ensure optimal tax efficiency, please consult a qualified tax advisor or accountant. Evogo Asset Finance does not provide tax advisory services.
Our Finance Partners
For comprehensive details regarding our current list of finance providers and how they utilise information.
Please refer to our dedicated page:
www.evogoassetfinance.com/privacy-policy
Commission Structures and Funding Costs
Costs of funding will either be fixed or determined by your credit status. Fixed rates are established by the lender based on specific criteria (e.g., the loan amount, The deposit, the age of the asset, or the asset’s manufacturer, etc). Credit status based rates are preset and directly linked to your creditworthiness; generally, a higher credit score correlates with a lower cost of funds from a credit provider.
We receive a payment from the credit provider for successfully introducing you to them. The exact amount received can vary depending on the credit provider, and some products may lead to higher commission amounts compared to others. While the lenders we work with may pay different rates, the commission structure for your specific agreement is predetermined and fixed.
The commission received is either a flat fee or a percentage of the amount you borrow. This means the payment we receive may fluctuate based on your loan amount and the repayment term.
As explained, the commission amount is set in advance. We will confirm the likely commission that EAF expect to receive for arranging your finance agreement well in advance of you signing the finance documentation.
If you have been introduced to EAF from a supplier, we may pay the supplier a commission fee for successful introductions. Any commission fee payable does not influence the overall cost you pay. Any commission Fee payable will be detailed in our commission disclosure to you prior to you finalising your agreement.
We do not charge you a direct fee for our brokerage services. However, the commission we receive from the lender does influence the overall cost you pay.
Again, the commission amount is predetermined by our commercial agreements with the lenders and cannot be adjusted for your specific agreement.
How We Handle Your Personal Data
Your personal data is processed by EAF. We urge you to review our comprehensive Privacy Notice for full details.
We process your personal data for the following key purposes:
- To facilitate specific preparatory steps before you formally enter into a finance contract (loan agreement) with the finance company.
- To safeguard our legitimate business interests as a finance broker.
Our full Privacy Notice is available at:
www.evogoassetfinance.com/privacy-policy
Get in Touch
Should you have any questions about the agreement you are considering, please reach out to our Customer Support Team via email at [email protected] or by calling us on 0114 3214565
Addressing Your Concerns or Complaints
If you have any concerns regarding our services, please contact us initially. You can do so by writing to:
Complaints Department, Evogo Asset Finance, 201 Upwell Street, Sheffield, S4 8AL
Alternatively, email us at [email protected] or call us on: 0114 3214565
You maintain the right to escalate any unresolved complaint to the Financial Ombudsman Service. Their contact details are:
Exchange Tower London, E14 9SR
Web: www.financial-ombudsman.org.uk Telephone: 0800 0234 567
