Terms of business

Close Brothers Finance DAC (trading as Close Brothers Motor Finance)

Is regulated by Central Bank of Ireland. We are transitionally authorised as a Retail Credit firm under the Central Bank Act 1997 (as amended). Copies of our regulatory authorisation are available on request. 

 

These Terms of Business (“Terms”) outline the basis on which we provide regulated financial services to you as a customer. Please ensure that you read this document carefully. 

 

These Terms and your Hire Purchase agreement apply to all business transactions undertaken for you or services provided to you and will remain in force until further notice.

Contact details

  • Our registered and head office is at Unit 18 Northwood House, Northwood Business Campus, Santry, Dublin 9. 
  • Our company registered number is 507250 and our Central Bank firm reference code is C460418.
  • Our contact phone number is 016448951 and our website is closemotorfinance.ie. 
  • We can be contacted by email at info.ie@closebrothers.com.

Statutory codes

Close Brothers Motor Finance is subject to the Central Bank of Ireland’s Consumer Protection Code, Minimum Competency Code and Fitness and Probity Standards. These Codes offer protection to consumers and can be found on the Central Bank website at https://www.centralbank.ie/.

Services

Close Brothers Motor Finance is authorised by the Central Bank of Ireland to provide Hire Purchase agreements, including Personal Contract Plans (PCP). These agreements are for people and businesses looking for a car or Light Commercial Vehicle. 

 

Hire Purchase is a form of credit whereby you hire the car, pay an agreed amount monthly, and become the legal owner of the vehicle at the end of the agreement. 

 

Personal Contract Plans (PCP) are a type of Hire Purchase agreement where you hire a car and pay an agreed amount each month. What’s different is that you can choose to pay a lump sum at the end of the agreement to take ownership of the vehicle, or hand it back or part exchange it for your next vehicle. 

 

We are the legal owner of any vehicle we finance until the final repayment is made. The details including the vehicle being financed, length of the agreement, the interest rate and the amount of each monthly repayment are set out in the terms and conditions of your agreement.

Anti-money laundering 

By law, we need to ask you for certain information to verify your identity as well as your source of funds. We need to keep a record of this information too. Before offering finance to you, we’ll ask you for this information and documentation. Without satisfactory evidence of your identity within a reasonable time, we may not be able to offer you finance. We may need to ask you for updated identity and verification documents from time to time.

Your requirement to provide information

You will need to provide enough information, including contact details and financial information, for us to make a decision and offer finance to you. This is an important part of how we calculate the affordability of the proposed agreement for you. 

Fees and charges

You may need to pay the fees or charges, as set out in the agreement. The following charges may apply:

 

 

Charge description Charge amount
Documentation fee€75  
Completion fee€75
Repayment referral€70
Modification or re-scheduling of agreements€70
Unpaid Direct Debit/Return €25.39
Collection letter charges€3.50
Excess kilometres for Personal Contract Plan (PCP)6c plus VAT for each kilometre over your agreed annual mileage HP
Early settlement fee Hire Purchase (HP)6 months future interest or remaining interest if less than 6 months to run.
Early Settlement fee Personal Contract Plan (PCP)3 months future interest or remaining interest if less than 3 months to run.

 

 

You may also need to pay the costs, charges and expenses paid by us in connection with the repair, preservation, security or recovery of the vehicle. You may also need to pay our legal costs in connection with enforcing the agreement. 

 

We may deduct any costs, fees or charges from your account. Default interest may be charged on the costs, fees or charges until they have been paid.

Conflicts of interest 

It is our policy to act in your best interests and to avoid a conflict of interest when we offer you finance. However, where an unavoidable conflict arises, we will advise you of this in writing before offering you finance. We’ll also ask for your written acknowledgement that you’re aware of the conflict of interest and still want to proceed. We have a written policy which sets out the steps that we take to ensure that we avoid or mitigate conflicts of interest that may arise when we offer you finance.

Data protection

Data Protection Close Brothers Motor Finance is a Data Controller as defined in the Data Protection Act 2018. We collect personal data about you so we can give you the highest standard of service and to comply with our legal and regulatory obligations. This includes information we use to open your account and any other personal data you give us or that we collect or process as part of financing your vehicle, under the agreement.

 

We take great care with your personal data. We take steps to keep it safe, secure and private and to ensure it is used only for legitimate purposes and in line with data protection law. 

 

The data you give us will be held in electronic format on a computer database. We’ll process your data so we can manage your vehicle finance. 

We may use your personal data: 

  • To offer you vehicle finance, including making credit decisions
  • For reporting and management information, including quality assurance
  • For prevention of money laundering, financing of terrorism and fraud and other legal and regulatory obligations 
  • For assisting the Central Credit Register (CCR) to support responsible lending 

We may share your personal data with: 

  • The CCR - We may periodically submit information to the CCR throughout the term of your agreement 
  • Any credit intermediary assisting you with your finance application
  • Any party with whom we or our agents have already, or are considering, entering into a contractual agreement in connection with your agreement
  •  Any receiver, and any party, who may need to be informed about your agreement in connection with any contemplated or actual litigation against you
  • Professionals employed in relation to the agreement documents, or as advisors to persons described above Regulators, law enforcement agencies and any other public bodies we are legally obliged to share such information with 
  • Our service providers, including Close Brothers Group Companies and those used by Close Brothers Group, who have undertaken to keep such information confidential 

 

In order to comply with regulations, we must keep your personal data for a minimum of 6 years. We may keep your personal data for a longer period as directed by law. At any time, you have the right to request a copy of any personal data that we hold about you. You may have other rights in relation to your personal data which apply in certain circumstances, and which are described in more detail in our privacy policy.

 

You may request a copy of your personal data by writing to the Data Protection Officer, Close Brothers Motor Finance, PO Box 12225, Freepost F5058, Dublin 2. A copy of our data privacy policy is available here - closemotorfinance.ie/privacypolicy.

Complaints

We have a written procedure for handling complaints. If you make a complaint to us, we will record it and look into it. If we can, we’ll resolve it within 5 business days. If not, we’ll write to you and acknowledge your complaint within 5 business days. We fully investigate complaints and will keep you updated on our progress.

 

If you’re unhappy with how we handle or respond to your complaint, you can refer your complaint to the Financial Services and Pensions Ombudsman. The Financial Services and Pensions Ombudsman deals independently with complaints and is a free service. Further details relating to the Financial Services and Pensions Ombudsman, including how to make a complaint, are available at Financial Services and Pensions Ombudsman, by telephone on Lo-Call Number: 01 567 7000, or by writing to the Financial Services and Pensions Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.

Default

We will send you a Default Notice if you: 

  • Fail to make any payment outlined in your agreement on the due date
  • Fail to perform or observe any of the terms and conditions of the agreement 
  • Give us any information that is incorrect, incomplete, inaccurate or untrue 

 

The notice will tell you what actions you will need to take to resolve the breach as outlined and by when. If you don’t follow the actions outlined in the Default Notice, we may terminate (legally end) your agreement.

Governing law

These Terms are governed by the laws of Ireland. These Terms of Business are effective from June 2025 and apply until further notice. Close Brothers Finance DAC is regulated by the Central Bank of Ireland European.

Communities Distance Marketing: SCHEDULE 1 INFORMATION

Supplementary Notice Applicable to Contracts Concluded Using Exclusively Distance Means of Communication: The following information is provided pursuant to Regulations 6 and 9 and Schedule 1 to the European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 (the “Regulations”)

 

This notice applies only in relation to contracts with consumers that are negotiated and concluded exclusively using means of distance communication (i.e. telephone, internet, etc.), so called “distance contracts”. 

 

This notice does not apply where any aspect of the contract has been negotiated or concluded on a “face-to-face” basis by the parties, including an agent of either party, in each other’s physical presence. 

 

In practice therefore this notice only applies to Hire Purchase Agreements entered into where the hirer does not meet with a representative of Close Brothers Motor Finance DAC (“the Supplier”) or a motor dealer acting on its behalf prior to completing the Hire Purchase Agreement and taking possession of the motor vehicle that is the subject of the Hire Purchase Agreement.

 

  1. Identity, Address and Main Business of the Supplier 
    Close Brothers Motor Finance DAC is regulated by the Central Bank of Ireland. The firm is authorised (on a transitional basis) as a Retail Credit Firm under Section 31 of the Central Bank Act, 1997, as amended.  The firm specialises in providing hire purchase finance for motor vehicles. The Supplier’s address is Unit 18, Northwood House, Northwood Business Campus, Santry, Dublin 9. 

  2. The Supplier operates in Ireland only and has no representatives in any other Member-State of the EU. 

  3. The Supplier provides its services through a network of motor dealers all of whom are credit intermediaries. Details of our dealer network are available on our website at closemotorfinance.ie

  4. The Supplier is registered with the Companies Registration Office as a Designated Activity Company, registration no. 507250. This information can be verified by contacting the Companies Registration Office (www.cro.ie).

  5. Close Brothers Motor Finance DAC is regulated by the Central Bank of Ireland. The firm is authorised (on a transitional basis) as a Retail Credit Firm under Section 31 of the Central Bank Act, 1997, as amended. The relevant authorisation and supervisory authority for the Supplier’s business is: 


    Retail Credit Firms 
    Consumer Protection: Credit and Lending Division 
    Central Bank of Ireland, 
    PO Box 559, 
    Dublin 1. 
    Tel: +353 1 224 4510 
    E-mail: rcf@centralbank.ie 

  6. The Supplier is not a member of a profession regulated by law, otherwise than at (e) above. The Supplier is a member of the Irish Asset & Invoice Finance Association (IAIFA). 

  7. The Supplier is registered for VAT. Its VAT registration number is IE 9819786M 

  8. The main characteristics of the services provided by the Supplier are as follows: The firm specialises in providing hire purchase finance for motor vehicles. A Hire Purchase Agreement is a credit agreement whereby the Supplier provides an item (in this case a motor vehicle) and the hirer pays an agreed amount monthly to finance the purchase of the motor vehicle. The hirer does not own the motor vehicle until the final monthly payment has been made. Full details are included in the Hire Purchase Agreement. 

  9. The total price to be paid to the Supplier including all related interest and fees, charges and expenses are included in the Hire Purchase Agreement. The elements on the total price to be paid include: 

  • The cash price of the motor vehicle less an initial deposit/part exchange (trade in)
  • Interest charged by the Supplier for the provision of finance
  • Documentation fees and completion fees payable in the first and final instalments respectively

  1. The services supplied are not related to instruments involving special risks whose price depends on fluctuations in the financial markets. The interest rate applicable is fixed for the duration of the contract. 

  2. It is possible that other taxes or costs may exist that are neither paid by the Supplier nor imposed by the Supplier. 

  3. The information given by the Supplier in this notice is valid as of August 2023. Whilst the Supplier will make reasonable efforts to keep this notice under review and up-to-date, the Supplier cannot accept responsibility for any changes that may arise as a result of actions by persons outside of its control or knowledge. 

  4. The arrangements for payment and performance that will apply under the contract are set out in the Hire Purchase Agreement.

  5. No additional charge will be imposed on the consumer for using a particular means of communication in connection with the contract. 

  6. Rights of Cancellation: In accordance with Regulations 10 and 11 of the Regulations a consumer has the right to cancel a distance contract by giving notice in writing within 14 days of entering into the contract.  The cancellation period begins on the later of the day the Supplier confirms the contract has been entered into or the day this SCHEDULE 1 INFORMATION has been provided and ends 14 (calendar) days after the beginning of the cancellation period. 
    Notice of a request to exercise the right to cancel a distance contract should be sent by email to: info.ie@closebrothers.com 

  7. The minimum duration of the contract in the case of a financial service that is to be performed on a continuing or recurring basis: The duration of the contract is specified in the Hire Purchase Agreement as the total number of months instalments are payable. 

  8. Early Termination: It is possible to request early termination of the contract as set out in clauses 6.1 and 7 of the Hire Purchase Agreement. 

    As the requirements to exercise this right vary depending on whether the  consumer wishes to purchase the motor vehicle or not, any queries or requests for further information  should be directed by email to info.ie@closebrothers.com or by telephone to 01 644 8951.

     

  9. Practical instructions for exercising the right to cancel – see (o) above. 

  10. Relations between the Supplier and consumer before the contract is entered into shall be governed by Irish law.

  11. The contract with the Supplier shall be subject to Irish Law and the Irish Courts shall have jurisdiction with respect to the determination of disputes arising under the contract. 

  12. The contractual terms and the prior information required under the Regulations shall be provided in the English language. 

  13. The Supplier undertakes to communicate with the consumer in the English language. 

  14. Out of Court Complaint and Redress: The Supplier operates a complaints procedure which may be availed of by the consumer and if that process does not resolve the matter the consumer may take the matter to the Financial Services and Pensions Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.