Status Disclosure

Finance Status disclosure for Oakwood Motor Company Limited

Frequently asked questions

Who are we?

Oakwood Motor Company Limited, a dealership acting as a credit broker in arranging finance for vehicle transactions.

Our registered office is Bury Car Centre, Whitelegge Street, Bury, Lancashire, BL8 1SW. Company registration no. 6002436.

Are we authorised to arrange finance for you?

Yes, we are authorised and regulated for credit-broking activities by the Financial Conduct Authority ("FCA"). We are not a lender. Our FCA Firm Reference Number is 650436. For more information, please visit the FCA website at: https://register.fca.org.uk/. Please note that business customers may not be protected under the Consumer Credit Act 1974 or FCA rules.

What can we do to help finance your vehicle?

We can introduce you (whether direct or through a specialist credit broker) to a number of finance companies ("funders") who may be able to finance your transaction. There are other funders to which we cannot introduce you which may also be able to offer you finance.

We will provide you with information and explanations about the finance products that may be available to you and, where we recommend a product to you, we will ensure that this is based on the information you give us about your needs and circumstances so that it is suitable for you. Finance is arranged subject to status and terms and conditions. We cannot guarantee that we will be able to secure finance for you.

Can we give you independent financial advice?

We are not independent financial advisers and so are unable to provide you with independent financial advice.

Do you have to pay for our service?

You do not have to pay us for our service, however a funder or broker we work with typically pay us for introducing you to them. Different funders/brokers may pay us different amounts but it will typically be based on a fixed percentage of the amount borrowed. This percentage may vary according to different factors, for example: the amount of credit; the age or type of vehicle; the type of finance product; or the funder's assessment of the risk of lending. For your reassurance, we are not able to change the interest rate you pay in order to receive more commission from a particular broker or funder. Although rates and commissions may vary between our finance partners, our aim is always to secure finance from them which is appropriate to your circumstances and at the lowest interest rate available.

How will we use your information?

We will use your information to obtain quotes from funders and brokers to process finance applications through them and we and/or they may also conduct a search of your record held with one or more credit reference agencies. Credit checks may as a result appear on your credit file lodged by organisations with whom you have not dealt directly. The personal information collected will also be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected you could be refused certain services, finance or employment.

Further details of how your information will be used by us, funders and these fraud prevention agencies, and your data rights can be found here.

We are registered as a data controller with the Information Commissioner's Office under registration number ZA146145.

What can you do if you wish to complain about our services or contact us?

If you wish to make a complaint, please contact us:

• by writing to us at Complaints, Oakwood Motor Company, Whitelegge Street, Bury, Lancashire, BL8 1SW
• by emailing [email protected] or
• by telephoning 0161 762 1000

If, after making a complaint to us you are still unhappy and feel the matter has not been resolved to your satisfaction, please contact the Financial Ombudsman Service ("FOS" - www.financial-ombudsman.org.uk). Please note that FOS may not be able to deal with complaints from business customers.

Further details about our complaints procedure and FOS are available on request and can be found on our website www.oakwoodmotorcompany.com.

Product Suitability

We shall, at all times, endeavour to take reasonable steps to ensure that any product offered is not unsuitable for the customers' needs or circumstances

Vulnerability

In providing information and explanations about products we shall take into account the customers level of understanding. If we are not satisfied that the customer does not have a good understanding of these products or services we shall consider alternative methods to provide the relevant information.

Data Protection /Consent to Search

We shall inform customers of what personal data we need to collect, for what purposes and with whom we share. We shall obtain customers consent to credit searches and treat all Data in line with FCA Guidelines. You have the right to request we delete this information. This information can be shared to our finance funders to obtain credit.

Pre Sale Explanations

Before entering into a Credit Agreement, we will take you through the funders pre-sale Information and adequate explanations