CarFinance 247 Achieves FCA Authorisation

CarFinance 247, the UK’s fastest growing online motor finance broker, has been authorised by the Financial Conduct Authority (FCA) under its new regulatory scheme that came into force last year.

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On 1 April 2014 the Financial Conduct Authority (FCA) became responsible for the regulation of consumer credit in the UK. It regulates firms and individuals that advise on, sell and arrange financial products and services. 

Firms must be authorised by the FCA to offer consumer credit and insurance products; when a firm is authorised it has permission to carry out certain regulated activities. Regulated firms are expected to meet the standards set out in the FCA’s Handbook of Rules and Guidance.
 
Louis Rix, director and co-owner of CarFinance 247, said: “Becoming FCA Authorised reinforces our high standards of service to consumers and lending partners alike. Our exceptional consumer review ratings and phenomenal growth this year already shows that we have very happy customers, who benefit from our trustworthy, reliable service, but this is another proof point that we’re exceeding the market in our standards and our commitment to compliance.” 
 
The approval comes on the back of the best year of trading for CarFinance  247, with a growth of 280% in its last financial year. The amount funded to consumers was £92.2m, an increase of 271% on the previous year.  The growth is the result of ongoing investment in customer service procedures and technology to deliver ground-breaking services; its digital advances in the market has seen the firm shortlisted for a number of high profile industry awards being announced in the coming weeks.

* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited, a credit broker and insurance intermediary, and 247 Money Group Limited (247 Money), a lender. Both companies are part of the 247 group of companies.

CarFinance 247 is authorised and regulated by the Financial Conduct Authority under reference number: 653019. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 06035525. Data Protection Registration Number Z1897658.

247 Money is authorised and regulated by the Financial Conduct Authority. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 10989530. Data Protection Registration Number ZA456831.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your account manager can provide more information on this

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