Carparison lead the way with commission transparency
Propelled by the launch of a brand-new website, Carparison have become the first leasing broker in the UK to offer full commission disclosures online and for both business and personal contract hire agreements.
An industry first
Carparison are the first leasing broker to display commission figures at the point of online advertisement and are the first to do so for both regulated (Personal Contract Hire - PCH) and unregulated (Business Contract Hire - BCH) agreements.
The amount of commission earned by Carparison is now listed among other finance information relating to every lease deal displayed on their website, whether regulated or not. As a result, customers will now be able to view and understand this often-shielded figure without making contact.
Not only is this move a first for the industry, it surpasses current legal guidelines for brokers which only commits brokers to disclosing this information if and when asked for it.
What is commission?
Carparison are a leasing broker. It is their role to source market leading car and van lease deals through negotiations with both the UK’s leading funders (who will finance the agreement), and the dealerships (who will supply and deliver the vehicles).
This is a careful negotiation of vehicle stock security and purchase price, as well as agreeing favourable finance terms. Although the facilitators of this relationship, Carparison are not the supplier of either service and therefore do not make profit directly from any eventual custom.
The commission incorporated into a vehicle lease deal therefore offers transparency of the earnings Carparison makes for sourcing and facilitating the lease agreement. The figure is already reflected in the lease costs advertised and does not affect how the lease deals are ranked on site.
Click here for a full breakdown of how we make our money.