Financial Services & Credit Broker Disclosure

This Financial Services Disclosure sets out mandatory regulatory information regarding vehicle finance features offered through the MIRA mobile application, web portal, and MIRA Business services.

1. FCA Status & Regulatory Disclaimer

MIRA software interfaces allow motor dealerships and registered credit brokers to display vehicle finance estimates to consumers. All financial promotions, credit agreements, and lender proposals are conducted under the independent FCA authorisations of partner brokers or selling dealerships. Users may verify firm authorisation status on the official FCA Financial Services Register at register.fca.org.uk.

2. Credit Brokers & Lender Network

When you request a vehicle finance quote, submit a credit application, or interact with finance calculators on MIRA, your data is securely passed to regulated financial partners:

• Registered Credit Brokers: Applications are processed by FCA-authorised credit broker partners selected on the finance application screen or by the selling dealership.
• Independent Underwriting: Finance partners perform independent credit assessments, identity checks, and affordability verifications.
• No Binding Obligation: Submitting an initial finance enquiry or calculating estimated repayments does not obligate you to enter into a credit agreement.

3. Representative APR & Calculators

Finance calculators, deposit sliders, and Representative APR examples displayed on MIRA products are provided strictly for illustrative guidance:

• Representative APR: Representative APR examples indicate the rate offered to at least 51% of approved applicants.
• Individual Rates: Actual interest rates, monthly repayments, and total payable amounts depend on individual credit scoring, loan size, deposit amount, and lender underwriting criteria.
• Formal Quotes: Binding credit offers are issued exclusively by the underwriting lender following a formal credit application.

4. Commercial & Commission Transparency

In accordance with FCA Consumer Duty guidance and commercial transparency standards:

• Software Licensing Fees: Motorsync Ltd receives software licensing and platform access fees from participating motor dealerships, credit brokers, and commercial partners for providing digital showroom management and integration tools.
• Broker Commission Disclosures: Partner credit brokers or dealerships may receive commercial commission or introductory fees from lending partners upon successful credit completion.
• Impact on Consumer Costs: Commission arrangements between brokers and lenders do not increase retail vehicle prices or interest rates charged to consumers.

5. Responsible Lending & Debt Support

Vehicle finance agreements (including Personal Contract Purchase (PCP) and Hire Purchase (HP)) are binding financial obligations. Failure to keep up repayments may result in repossession of the vehicle and adversely affect your credit score.

If you are experiencing financial difficulty or require free, impartial debt advice, please contact:

6. Regulatory Contact Channels