Motor Dealer FAQs
How do I become a partner of Moneyway?
You can complete our partner application form here. You will need to have been trading for at least 12 months, have a minimum net worth of £25,000 and be able to supply us with account proof to become an approved partner.
When do you payout?
Payments are made to the credit intermediary’s bank account by BACS the day after you have received payout confirmation.
When do you pay commissions?
Commissions are generally paid by the 15th of each month in arrears.
Do you accept customers that are self-employed?
Yes we do, subject to the customer meeting the minimum time as self-employed (12 months).
Do you fund the Gap/Warranty, if it’s included in the cash price & itemised on the invoice?
Yes, this will be restricted depending on the Loan to Value.
How long do you take to underwrite applications?
The majority of applications are decisioned in under five seconds, referred proposals in normal working hours are underwritten within one hour.
Are Moneyway a broker?
No, we are a self-funded lender. We can work in partnership with brokers.
Do I need full FCA permission to work with Moneyway?
Yes, we require you to hold full FCA permission.
Do you accept customers on benefits?
Yes, we do for certain benefits including: Carers Allowance and Disability Living Allowance. We do not accept unemployed or in receipt of Job Seekers Allowance.
