Subsequently, we would like to draw your attention to the following points:
  1. You should consider the suitability of the vehicle you are buying for your needs and if it is fit for the purpose that you require it for. You should also consider if those needs will change, and if that vehicle will remain suitable.
  2. The vehicle that you are purchasing is being sold at a retail price, which is higher than its trade value. If you decide to sell the vehicle in the future, it could potentially be in negative equity (where the value of the vehicle is less than the amount of outstanding finance). This is subject to a number of factors, such as the amount borrowed, vehicle depreciation, vehicle condition etc. You should consider how long you intend to keep the vehicle, what its future value may be, and how you would repay any negative equity, should there be any.
  3. You should consider the running costs of the vehicle you are about to purchase. These include but are not limited to fuel, insurance, tax, MOT and maintenance. Taking these into account, you should decide if the vehicle is affordable for you.
  4. Shikra Cars Ltd will introduce vou to a carefully selected group of lenders. We cannot guarantee that these lenders will offer you the most competitive rates available. You may wish to consider conducting your own search for finance before signing any agreements.
  5. When viewing your credit agreement, please be aware of the monthly repayment, APR and total amount repayable figures to ensure you are comfortable with what you will paying both monthly and across the entire agreement for your purchase.
  6. Your selected lender will perform an affordability check on your behalf for the finance repayments based on the information you provide them. You should also perform your own checks, taking into account your earnings and outgoings to ensure you can afford the repayments. . Motor vehicles comprise of over 30,000 parts, and unfortunately unexpected failures can occur at any time.
  7. You should consider if/now you could afford to repair the vehicle, should an unexpected failure occur.
  8. Shikra cars Ltd offer a range of warranties which could help protect you from unexpected mechanical failures.
  9. You should make your lender, and Shikra cars Ltd aware of any vulnerabilities you have which may affect your ability to repay your loan now or in the future. Examples would include but are not limited to a known/suspected health condition or a known/suspected risk to your employment.
  10. I confirm I have read and understood the details of the IDD and Consumer Duty. The vehicle I am buying meets my needs, is affordable and
  11. I have financial contingencies in place should I need them.
  12. I have declared any vulnerabilities that I know of.