Initial Disclosure Document
It is important that you read this document carefully before purchasing any regulated products.
Central Garages Torbay Limited
137 Newton Road, TORQUAY, TQ2 7AJ
Central Garages Torbay is authorised and regulated by the Financial Conduct Authority (our registration number is 693183)
Permitted activities include acting as a credit broker not a lender.
We are a credit broker and not a lender. We can introduce you to a limited number of lenders and their finance products, we act as their agent for this introduction. We are not an independent financial advisor; we will provide details of products available. We may advise you on the products, subject to your personal circumstances, though you are not obliged to take our advice or recommendation.
We do not charge you a fee for our services. we will typically receive commission from whichever lender we introduce you to (either a fixed fee or a fixed percentage of the amount you borrow).
Acting as a credit broker we can introduce you to a selected group of lenders / brokers (see below) who may be able to help you finance your purchase. This group of lenders / brokers provides us with a range of products which may be suitable for your purchase. We will explain the key features of those products to you.
- Close Brothers Motor Finance, Santander Consumer Finance
Unless we consider it to be inappropriate given your personal circumstances, for certain vehicles e.g. New, our approach is to introduce you to the lender who are usually able to offer the best available package for you, taking into account interest rates, residual valuations (where applicable) and other contributions. If they are unable to make you an offer of finance, or the vehicle is not one that we would normally place with them we will introduce you to other lenders on our panel. The lender we introduce you to and available rates will depend upon a number of factors including: the vehicle, your personal circumstances and the likelihood of a lender to accept an application based on information provided.
Lenders typically pay a commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions; some lenders may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. If you would like to know the amount of any remuneration we have received from the finance provider, please ask us.
All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over, guarantees may be required.
Basis of our Service
We have taken steps to ensure that if, in the course of advising you, we make a recommendation; such recommendation will be suitable for your demands and needs at the time the recommendation is made. In assessing your demands and needs we may seek such information about your personal circumstances and objectives as might be relevant in order to enable us to identify your requirements. It is important that you provide us with accurate and relevant information.
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 Central Garages Torbay, [email protected] and 01803 616150. Should you remain dissatisfied you may have the right to ask the Financial Ombudsman Service to review your case. You should write to the Financial Ombudsman Service, Exchange Tower, London, E149SR. Telephone 0800 023 4567 or 0300 123 9123. Web address: www.financial-ombudsman.org.uk.
Details of Central Garages Torbay authorisation can be confirmed by contacting the FCA on 0800 111 6768 or by visiting the FCA's website http://www.fca.org.uk/register.
As an organisation we are committed to providing good consumer outcomes, before, during and after a sale.
Before the sale you can expect:
To have any significant and unusual exclusions or exceptions to the policy brought to your attention.
A clear statement of price, including where applicable a breakdown of any interest charges.
Details of your cancellation rights and our complaints procedure.
Copies of your documentation or information as to when these documents will be dispatched.
After the sale you can expect:
Not to encounter any barriers to cancelling your policy within regulatory agreed time frames.
To have any complaint dealt with in a timely and professional manner.
Confidentiality and Data Protection
Your information will only be disclosed/provided to third parties for the purposes of providing, arranging, administering and renewing finance and insurance contract(s) and for the purposes of monitoring and/or enforcing compliance with regulatory rules/codes. For full details of where your information will be sent and the purposes of such data transfer, please ask us.
Your information will be retained for a period of up to twelve years. During this time you have the right to obtain details of the information held and how it has been processed.
If you would like to exercise any of these rights or have any concerns with how we are processing your data then please contact the Data Protection Officer at Central Garages Torbay, [email protected] and 01803 616150. If we are unable to resolve your concerns then you have the right to refer the matter to the Information Commissioner's Office. Further details about your rights and how to lodge a complaint can be found on the Information Commissioner's Office website (www.ico.org.uk/for-the-public).