If you are considering leasing a car or van, you may be wondering who regulates the vehicle leasing industry and how you are protected as a consumer.
Here at Nationwide Vehicle Contracts, we are committed to complying with industry legislation and regulation and work hard to ensure that we follow strict codes of conduct when speaking to and advising customers.
But what do these codes of conduct mean to you as the customer? They mean you can be safe in the knowledge that we carry out business in an honest and trustworthy manner at all times.
Nationwide Vehicle Contracts is authorised and regulated by the Financial Conduct Authority (FCA). The Financial Conduct Authority is the conduct regulator for 56,000 financial services firms and financial markets in the UK.
The FCA work to protect consumers in a wide range of ways, specifically by ensuring firms put their customers at the heart of their business by offering appropriate products and services and putting customers’ protection above the firms’ own profits or income.
As an FCA regulated firm, we must follow the rules set in its handbook. The FCA handbook sets out business standards we must abide by, as well as how we must deal with any complaints we receive.
The FCA handbook is divided into key sections which include, but aren’t limited to:
To view the handbook for yourself, download it from the FCA handbook website.
Nationwide Vehicle Contracts is a Leasing Broker member of the BVRLA. The British Vehicle Rental and Leasing Association (BVRLA) is the trade body for the vehicle rental and leasing sector. The BVRLA promotes ethical trading, clear pricing, transparent terms and conditions and high-quality vehicles and customer services standards.
As a Leasing Broker member, we are bound by the BVRLA’s mandatory code of conduct, which stipulates how we must conduct our business with you, the customer, in terms of contracts, quotes and payment terms, duty of care, end-of-contract processes and more.
BVRLA Leasing Broker members agree to abide by the following principles:
To download and view the BVRLA Leasing Broke Code of Conduct, click here. You can also find out more about how we comply with this Code of Conduct in our 10 Reasons you’re in Safe Hands with Nationwide Vehicle Contracts guide.
The Advertising Standards Authority (ASA) is the UK’s independent regulator of advertising across all media. The ASA makes sure ads across UK media stick to the advertising rules (also known as the Advertising Codes, and also respond to concerns and complaints from consumers to ban ads which are misleading, harmful, offensive or irresponsible.
To ensure our promotional material complies with ASA regulation, Nationwide Vehicle Contracts follow the guidance set out in the UK Code of Non-broadcast Advertising and Direct & Promotional Marketing, also known as the CAP Code.
The CAP Code is the rule book for non-broadcast advertisements, sales promotions and direct marketing communications and offers guidance on all areas, including: