V12VF | Consumer Duty | April 23 - Flipbook - Page 10
The Customer
PRODUCT FEATURES
Suitability for Product
See our procedural guide for more detail
on decline rules
Customer Age at start of the agreement
Residency Status
Driving Licence
ALL V12VF Products
These finance products are designed for customers with a prime profile who can afford the repayments over the term. V12VF with undertake
a creditworthiness assessment and (subject to acceptance) offer the rate applicable to the Terms of Business agreed between the distributor
and V12VF
21 to 75 years
Homeowner or tenant, with 3 years traceable residency in UK
Must be a full UK driving licence holder
Permanent employment (full or part time)
Minimum time in job: 3 months, except:
-6 months - working on contract if employed by an agency.
Employment Status
-12 months - if self-employed
If customer is a director of a LTD company and there are less than 3 directors (one of which is the customer) the customer will be class as selfemployed
In receipt of benefits
Excluded Occupation/Employment Status
See our procedural guide for a full list of
exclusions
Choice of monthly payment date
Car insurance requirements
Registered keeper of vehicle
Excluded Deal Types
Retired
• Less than 3 months employment
• Temporary contract less than 6 months
•
Zero hour contract
• Less than 12 months self employed
Can contact Customer Services during agreement to request a change of payment date.
Customer must have full and comprehensive insurance on the car
V5 will be registered in the customer’s name
Excluded where vehicle is being used for the purposes of income generation (e.g., Taxi Driver, Courier, Delivery Driver, Accommodation
Deals)
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