Value Added Statement
What Is Our Value Assessment Statement?
Our Value Assessment Statement is an annual regulatory document that reviews our performance, charges, advice, and overall service to our clients.
This report details how we deliver value, actions taken over the past 12 months, and areas for future improvement.
What We Offer
Silverstone & Embrace Leasing provides vehicle leasing solutions to personal and small business customers across the UK. We connect customers with finance providers to secure competitive vehicle leasing deals.
Our service includes:
- Assisting customers in selecting a vehicle that meets their needs and requirements.
- Helping customers understand the contract hire product used to finance their vehicle, ensuring it suits their needs.
- Advising on the appropriate contract term, annual mileage, and maintenance package to fit customer needs.
- Explaining the benefits and risks associated with different finance providers’ contract hire products.
- Supporting customers through the credit approval process with finance providers.
- Assisting with the completion of all necessary documentation for the contract hire agreement.
- Sourcing and securing the vehicle from our network of suppliers and dealerships.
- Providing access to discounts through our purchasing power.
- We ensure customers receive the most competitive market offers via our tendering process with finance providers.
- Assigning a dedicated account manager to guide customers through the entire leasing process.
- We offer ongoing customer service support throughout the lease term.
- Proactively helping with contract amendments, vehicle collection, contract extension, or renewal.
Service Limitations
We only offer contract hire products. Our services are limited to Personal and Business Contract Hire agreements, which provide flexibility and affordability. While you won’t own the vehicle at the end of the lease, our contracts offer several benefits, including lower upfront costs and fixed monthly payments.
Non-Financial Costs
We recognise that any new financial commitment can have an impact beyond monetary considerations. Non-financial costs, such as time and privacy, must also be considered.
Searching for a deal, negotiating terms, or cancelling an order can be time-consuming. Still, our goal is to ease this burden by offering expert advice and support throughout the leasing process.
Regarding privacy, as a broker, we collect and use personal data for service improvement or marketing purposes. We alleviate privacy concerns by ensuring that customer data is only used as necessary for service fulfilment and that marketing communications are only sent with customer consent. Our privacy policy offers more details on how we use and protect your data.
How Do We Support Those with Vulnerabilities?
All of our customer-facing staff are trained to recognise and support vulnerable customers. We tailor our services to ensure all customers receive fair treatment and consistent outcomes.
We continuously gather feedback to understand customer needs better and regularly review our services to meet the objectives of vulnerable individuals. Our communications are designed to be transparent, fair, and not misleading, and we have regular reviews. When we identify actual or potential harm, we take immediate action.
We monitor our support for vulnerable customers by assessing the quality of customer interactions, reviewing complaints, analysing their root causes, and tracking key indicators of harm.
How We Assess Value
At Silverstone & Embrace Leasing, our top priority is providing value to our customers. We assess this by evaluating our unique selling points, core values, competitive pricing, and service quality.
For over two decades, we’ve refined our processes for reviewing business performance and pricing strategies, particularly for personal and small business leasing customers. We have enhanced our processes by increasing transparency and rigour per the FCA’s Assessment of Value requirements.
Our Value Assessment in Practice
We deliver value through competitive pricing combined with personalised, first-class service. Our dedicated Account Managers work closely with customers to meet their vehicle needs, from vehicle selection to arranging finance and delivery.
All sales and support staff undergo comprehensive training before interacting with customers, and their line managers assess their competency. Additionally, mandatory industry-approved training modules are completed throughout the year, including topics like consumer duty, vulnerability, and complaint handling.
To ensure high service standards, our management team regularly monitors customer interactions. Each month, our compliance manager reviews a sample of calls and files to guarantee adherence to best practices and an excellent customer experience, and the results are reported to our Board.
How We Measure Our Performance
We track performance using key metrics, including:
- Price and value management information
- Customer complaints and satisfaction surveys
- Google Review review scores
Customer Relationship Management
Our Customer Relationship Management (CRM) system measures various aspects of the customer journey, such as credit declines, cancellations, and market competitiveness. We also have a thorough complaints procedure in place, where any dissatisfaction is logged, reviewed, and subjected to root cause analysis.
Our customer survey is sent to all retail customers upon vehicle delivery. It measures performance against key Treating Customers Fairly indicators and Consumer Duty outcomes. We also encourage customers to leave reviews on Google and video testimonials, which give us valuable insights into our service quality.
Customer Video Testimonials
Hear from Our Happy Customers
At Silverstone Leasing, we believe the best way to understand the quality of our service is to hear directly from the people who matter most – our customers. In these short video testimonials, you’ll see real experiences from individuals and businesses who’ve leased with us. From first-time drivers to fleet managers, their stories highlight the care, transparency, and expertise that set us apart.
Fees & Charges
Commission & Remuneration
We receive a fixed and variable commission for introducing customers to a finance provider. This commission is included in the monthly rental payments quoted on our website. We set our commission at a market-competitive level to ensure an attractive customer offer: our compliance team and Board caps and monitors commission levels.
You may request information about the commission we receive at any time by emailing sales@silverstoneleasing.com
Administration Fee
We charge an administration fee of £360.00, including VAT, for our services. This fee covers:
- Assistance in finding a suitable vehicle
- Advice on contract hire products
- Support in selecting contract terms, mileage, and maintenance packages
- Market searches to secure competitive prices
- Vehicle sourcing and procurement from our network
- Customer Services support throughout the lease term
- Proactive assistance with contract amendments, vehicle collection, or renewals
This fee is among the most competitive administration fees in the market, reflecting our commitment to excellent service and value.
At Silverstone & Embrace Leasing, we deliver award-winning, outstanding customer service and value for money, always putting the customer at the core of everything we do.
Frequently Asked Questions
The Assessment of Value is a regulatory requirement set by the Financial Conduct Authority (FCA) to ensure that financial firms, including vehicle leasing brokers like Silverstone Leasing, provide fair value to their customers. It requires companies to regularly review their value regarding pricing, service quality, and customer outcomes.
The goal is to ensure that customers receive a competitive product or service that meets their needs without unnecessary costs or poor service. Firms must assess their performance, identify areas for improvement, and ensure they are transparent about charges, commission, and service quality. The Assessment of Value helps to promote better customer outcomes and maintain high standards across the industry.
A Value Assessment Report is a detailed document that reviews a company's performance, pricing, and overall service quality. It is typically required in industries regulated by bodies like the Financial Conduct Authority (FCA) to ensure that businesses deliver fair value to their clients.
The report evaluates whether customers' costs for products or services are justified by the benefits they receive. It includes assessing key areas such as charges, service quality, customer satisfaction, and transparency. This report is produced annually for companies like Silverstone Leasing to demonstrate how they deliver value to customers and highlight actions taken to improve services. The Value Assessment Report helps ensure customers are treated fairly and receive competitive, high-quality services.
A Fair Value Assessment is a regulatory requirement by the Financial Conduct Authority (FCA) that ensures financial firms, including vehicle leasing companies like Silverstone Leasing, provide products and services that offer fair value to customers. This means that the total cost of a product or service should be reasonable, competitive, and aligned with the benefits provided to the customer.
Firms must review and evaluate their offerings' pricing, quality, and overall customer experience in conducting a Fair Value Assessment. The goal is to prevent overcharging or poor service delivery and to ensure that customers receive fair treatment and good outcomes. This assessment is key in maintaining trust and transparency between businesses and consumers in regulated industries.