Initial Disclosure Document
Our Finance Products
1. The Financial Conduct Authority
The Financial Conduct Authority (FCA) is the independent regulator of financial services. Use this information to decide if our services are right for you. Carmoney Ltd is regulated by the FCA (our registration number is 674094. We are permitted to act as a finance broker for finance to purchase motor vehicles.
2. Whose products do we offer?
We offer products from a limited number of finance companies. Please ask us for a list of finance companies if you require one.
3. Which service will we provide you with?
We will provide product information to allow you to make an informed decision after we have assessed your needs for:
- Conditional sale
- Hire purchase
- Personal contract purchase
- Lease purchase
- Contract hire
- Personal loan
4. What will you have to pay for our services?
- No fee for finance products
- As a credit broker we can introduce you to a limited number of finance lenders and products to assist you with your purchase. These finance providers will pay us for introducing you to them. This can either be a % of the amount borrowed or a Flat fee. This does not influence the interest rate you’re offered in any way.
You will receive a quotation which will tell you about any other fees relating to a finance product.
At any point prior to a credit agreement being made you may request information relating to the likely amount of finance commission we receive from our finance partners. This may be verbal or in writing. We will confirm the ‘likely amount of commission we will receive in writing within 7 days.
5. Who regulates us?
Carmoney Ltd is authorised and regulated by the Financial Conduct Authority. Our FCA number is 674094. Our permitted business is finance broking. You can check this on the FCAs Register by visiting www.fca.org.uk or by contacting the FCA on 0845 606 1234.
6. What to do if you have a complaint?
If you wish to register a complaint, please contact us:
- In writing: Customer Services, Carmoney Ltd, Precision House, McNeil Drive, Motherwell, ML1 4UR
- By email: email@example.com
- By phone: Head Office on 0141 280 7003
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsmen Service.
7. Are we covered by the Financial Services Compensation Scheme [FSCS]?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and circumstances of the claim.
Further information about compensation scheme arrangements is available for the FSCS.
Our Insurance Products
1. The Financial Conduct Authority
The Financial Conduct Authority (FCA) is the independent regulator of financial services. Use this information to decide if our services are right for you. Carmoney Ltd is authorised and regulated by the FCA our Reference number is 674094. We are permitted to arrange general insurance contracts.
2. Which Service Will We Provide You With?
You will not receive advice or recommendations from us. We may ask some questions to ensure the product is suitable for your needs however you will then need to make your own choice on how to proceed.
3. Will You Have to Pay Us For Our Services?
We do not charge fees for arranging insurance, we may however receive an economic benefit or retain a part of any premium by way of remuneration. Our sales agents may also be remunerated on the sale of individual products. Fees may be applied by insurers for such things as mid-term adjustments and cancellations. Please check the individual policy information for full details.
4. If You Have a Complaint?
We always aim to provide a first class service, however if you have any cause for complaint, any enquiry can be raised by either email, in writing or by telephoning us. We can be contacted at the following
Tel: 0141 280 7003
Should you remain dissatisfied, you have the right to ask the Financial Ombudsman Service to review your case. You should write to the Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone 0800 023 4567.
5. Are we covered by the Financial Services Compensation Scheme [FSCS]?
You may be entitled to compensation should we be unable to meet our liabilities as an insurance intermediary under the Financial Services Compensation Scheme. Your entitlement to compensation will depend upon the type of business and the circumstances of your claim. Insurance advising and arranging is covered for 90% of the claim, without any upper limit or for compulsory classes of insurance, insurance advising, and arranging is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from FSCS.