Vehicle Finance Status Disclosure for I Cumming Ltd TA Grampian Cars
Frequently asked questions
Who are we?
I Cumming Ltd a dealership that sells vehicles and acts as a credit broker in arranging finance for vehicle transactions. [We also operate under the following trading styles: Grampian Cars
Our address is:9 Carmelite Street, Banff, Aberdeenshire, Scotland, AB45 1AF. Registered in Scotland. Company registration no..SC280363 Trading Address: Bath St, Macduff AB44 1SA Tel: 01261 832222
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 726060. 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 to a funder or through a specialist credit broker) to a limited number of finance companies who may be able to finance your transaction. There are other finance companies who we do not have a trading relationship with who may also be able to offer you a product and you are, of course, free to approach them direct yourself if you wish..
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 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 independent financial advice?
We are NOT independent financial advisers and so are unable to provide you with independent financial advice, due to the fact that we will receive a commission payment for any successful application we introduce to a finance company (see below.)
Do you have to pay for our service or do we receive any commission?
You don’t have to pay us for our service However a finance company we work with will pay us for introducing you to them if your application is accepted and you decide to proceed. Different finance companies will pay us different amounts of commission. Commission will be calculated (either) as a percentage of the amount of credit you take (or) based on a fixed fee. The commission we receive will vary according to the amount of credit you take or the finance company’s assessment of your credit risk. The amount of commission we will receive will be confirmed to you by us when your application is accepted by a finance company. The amount may change based on any acceptance criteria requested by the finance company or if the terms of the deal change between now and delivery of your vehicle (e.g. if the amount of credit you are taking changes.) The final amount of commission, however, will be confirmed to you before you are asked to sign the finance documentation.
Please note that we cannot change the interest rate you pay in order for us to receive either more or less commission from any particular finance company. Whilst rates and commissions may vary between finance companies, our aim is always to secure finance from them which is appropriate to your circumstances.
If you feel you require or would benefit from impartial advice related to your potential finance options, then you must arrange to receive this advice independently and we are entirely comfortable for you to do so.
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 https://www.grampiancars.co.uk/privacy-policy.php A full data protection notice/privacy policy will be provided to you before we submit any application for finance on your behalf.
We are registered as a data controller with the Information Commissioner’s Office under registration number ZA798258
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, Complaints Manager, Bath Street, MacDuff AB441SA
? by emailing [email protected] or
? by telephoning 01261832222
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 at https://www.grampiancars.co.uk/status-disclosure
If you require further information, please contact us by telephoning the above number(s) or emailing us at [email protected] addressing your correspondence to Complaints Manager, Bath Street, MacDuff AB441SA
Customer Declaration
I confirm I have read and understood the above information and specifically that I have been informed that I Cumming Ltd TA Grampian Cars will receive a commission payment if my application is successful and that it will be calculated as a fixed fee / percentage of the amount of credit I am taking I also confirm that I understand that I have not been provided with impartial advice.
Complaints Process:
We promise to:
•investigate your complaint thoroughly and, so far as within our control, promptly;
•keep you informed of progress; and
•do everything we reasonably can to help you.
How to Contact us
Here is how you can contact us should you have a complaint:
•By post: Complaints Manager, Grampian Cars, Bath Street, MacDuff, AB441SA
•By email: [email protected]
•By phone: 01261832222
When you contact us
Please tell us:
•your name and address (including email address if you are happy to communicate in that way);
•your vehicle registration number;
•a phone number where we can contact you if we need to and any times you would prefer us to contact
you;
•a clear description of your complaint; and
•what you would like us to do to put things right.
If you have asked someone to act on your behalf in pursuing your complaint, we will need your signed authority before we will be able to deal with them.
Our Procedure
• We will work to resolve all complaints quickly and fairly.
• We will acknowledge your complaint in writing within five business days if we have not been able to
resolve it sooner.
• Your complaint will be referred to one of our complaint handlers, who will investigate the complaint
promptly, thoroughly and impartially.
• If your complaint relates to a vehicle which has been supplied under a finance agreement, the finance company is likely to want investigate the matter itself and will gather information from us to enable it to respond fully to your complaint. We will write to tell you if the complaint has been forwarded to the finance company to deal with.
• We (and/or the finance company) will aim to let you have a final response to your complaint within eight weeks of receipt but, if it remains unresolved after that time, you will be informed in writing why a final response has not been provided and when you should expect to receive it. Rather than await a final response, you may be able to refer your complaint to the Financial Ombudsman Service at that point, so you will also be provided with details of the Financial Ombudsman Service together with an explanatory leaflet.
• We have intentionally made our complaints handling procedure simple to follow, so that you should not have to seek any advice (for example, from a solicitor), so we (or the finance company) will not normally agree to meet any costs you incur for such advice, even if your complaint is upheld.
Independent Review of Your Complaint
The Financial Ombudsman Service provides a free, independent and impartial service for customers to resolve disputes with financial services firms. The Financial Ombudsman Service will be able to
tell you whether or not they can deal with your complaint.
If you decide to refer your complaint to the Financial Ombudsman Service, you must do so within six months of the date of our final response. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances
(for example, if the Ombudsman believes that the delay was as a result of exceptional circumstances).
The Financial Ombudsman Service can only deal with your complaint if you have given us (or the finance company) the opportunity to put matters right, so please contact us first and we will do all we can to help you. The contact details for the Financial Ombudsman Service are:
Financial Ombudsman Service
Exchange Tower Harbour Exchange London E14 9SR
Telephone:
0800 023 4567 (calls free on mobile phones and landline
0300 123 9123 (consumer helpline - calls cost no
more than calls to 01 or 02 number)
Email: [email protected]
Website: www.financial-ombudsman.org.uk