Love Electric Financial Services Limited is a member of the British Vehicle Rental & Leasing Association (BVRLA) (member number 10549), and is authorised and regulated by the Financial Conduct Authority (FCA). Our Financial Services Register firm reference number is 743264.
As a business authorised and regulated by the FCA, we are legally required to provide you with this ‘Initial Disclosure Document’. This Document has a number of purposes, one of which is to ensure you are provided with essential information about us as a company, what we charge for our services, the products and services we offer and how we are regulated. It will also provide information on what you should do if you have a complaint and any details regarding the Financial Services Compensation Scheme.
loveelectric is a trading name of Love Electric Financial Services Limited, a company registered in Scotland (Company Number SC374952, ICO reference number ZB075747). Our registered office and trading address is 5 South Charlotte Street, Edinburgh, EH2 4AN.
Love Electric Financial Services is a credit broker, and not a lender, finance provider or insurer.
loveelectric provides services as a salary sacrifice administrator, credit broker and introducer. We work with Companies across the UK to provide our Electric Vehicle (EV) salary sacrifice scheme and Business Contract Hire (BCH) services to their Employees. As an FCA regulated credit broker we are also able to introduce you to our finance partners who can help you finance your vehicle using a Personal Contract Hire (PCH) agreement.
This notice is intended for consumers entering into, or considering entering into, a PCH agreement which we will broker on your behalf.
We encourage you to read all important information as it becomes available throughout the process and if you are unsure of anything we are here to help. You can email any questions or concerns you may have at hello@loveelectric.cars
In the UK, there are various ways to finance a new vehicle, and the best option for you will depend on your specific needs.
We specialise in arranging EV salary sacrifice & Business Contract Hire (BCH) agreements for our business customers and Personal Contract Hire (PCH) for consumers. All of these options are ideal if you prefer to pay a fixed rental to use a new or used electric vehicle over a set period.
As our salary sacrifice scheme is managed by Companies, it will only be available to you if your employer has agreed to work with loveelectric. If they haven’t yet signed up with loveelectric, you can recommend our services via our website.
Once a Company has signed up with loveelectric, we will act as a credit broker to introduce the Company to our finance partners who are able to provide credit for the Company’s Employees’ EVs.
If you are a consumer, we will ask you to share some personal information about your circumstances to enable us to identify your exact needs and establish a line of credit. It is really important that you provide us with accurate and up to date information so that we can understand if a PCH agreement is suitable for your needs and that you can afford the monthly repayments.
If you choose to order a vehicle displayed on our website, you will enter into a lease agreement with one of our lending partners. We are paid a commission by the finance provider, once the agreement is live. The commission we receive is a pre- agreed amount which is paid to us by the lender once the agreement is in place.
We will not charge you a fee for brokering your agreement nor will we charge any additional fees for the duration of the agreement.
If you would like more Information in regard to the disclosure of commission or our finance partners, please email hello@loveelectric.cars
If you proceed with an order we will ask for your consent for a credit search to be completed as part of the credit application. We will tell you how our finance partners will use your information to undertake the credit search and to review your application before you choose to proceed with your order.
We are committed to providing the best possible service for our customers. While we operate a continuous improvement culture, we are conscious that things do go wrong from time to time. Please see our complaints handling process for more information.