How we are paid

Most brokers bury this. We would rather put it on its own page, because you have probably been dealt with by people who were not straight with you, and this is the easiest place to show you that we are.

We do not own the cars and we do not provide the finance. What we do is look at your situation properly, work out whether a lender can help, and put your application in front of them if we think so.

This is the bit that matters, so here it is plainly.

Some brokers are paid a percentage of what you borrow, or of the interest built into your agreement. Under that model, the more expensive the deal, the more the broker earns. Whether or not anyone acts on that, the incentive is there.

Ours is a flat amount per completed agreement. Steering you towards a £389 car rather than a £319 one would earn us exactly the same. We have no financial reason to push you towards a bigger payment, a longer term or a dearer vehicle, and that is deliberate.

The fee does not come out of your money. It is not added to your monthly payment, it is not part of your three months up front, and it does not change the price of the car. The lender pays it out of their own margin.

Your monthly payment would be the same whether you came to us or went to the lender directly.

Two reasons. The Financial Conduct Authority expects firms like us to be open about how we are paid, so some of this is required. And the rest of this website asks you to trust us with three months of bank statements, which is a lot to ask from someone who has been let down before. It seems a poor start to be coy about our own money.

Ask us. Email help@firstoakcapital.co.uk or call 01730 774450 and we will tell you what we are paid on your agreement. We are not going to pretend it is commercially sensitive.