The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority require us to provide you with a document called an 'Initial Disclosure Document'. This document provides information about us, the products we offer, the services we will provide, what we charge for our services, who regulates us, what to do if you have a complaint and details about the Financial Services Compensation Scheme.
Whose Products Do We Offer?
OurCar (trading as OurCar Ltd) is a credit-broker not a lender.
We can introduce you to a limited number of finance providers and a limited number of financial products to assist with your purchase of our goods and services. In some circumstances we may use the services of an external credit broker to secure an offer of finance for you. We will provide you with details of our lenders and/or our credit broker partners on request.
Our financial products vary from time to time but may include Hire Purchase, Conditional Sale, Fixed Sum Loan (Personal Loan), Personal Contract Hire (“PCH”) and Personal Contract Purchase (“PCP”). All finance is subject to status. Terms and conditions apply.
What Services Do We Provide?
You will not receive advice or a recommendation from us in relation to the financial products that we offer. We will provide you with information, but you will have to make your own choice about how to proceed. We operate an information only sales process (non-advised).
We act as agent for the lender when operating our credit-broking and credit intermediary services under pre- arranged contractual arrangements. We do not use a panel of lenders although Evolution Funding Limited may do so.
When arranging finance for you, we do not act for you in any capacity, and we are not your agent. We do not act as your finance broker, we do not conduct a fair analysis of the market and we do not provide financial advice. Please seek your own independent legal or financial advice prior to entering into a credit agreement if this is required.
Whilst we believe that our finance terms are competitive, we offer no guarantee that the APR offered to you is the most competitive in the open market. Please make your own enquiries in this regard.
Do We Charge for Our Services?
We do not charge you any fees for our credit-broking services.
We may receive a commission or other benefit from the lender for arranging finance for you. This may be a fixed amount or a percentage of the amount that you borrow. The interest rate and/or APR offered to you is not affected or influenced by the commission that we receive.
Who Regulates Us?
OurCar Limited is authorised and regulated by the Financial Conduct Authority. Our firm’s reference number is 968034. You can verify this on the Financial Conduct Authority's Register by visiting the Financial Conduct Authority's website: http://www.fca.org.uk/register/ or by contacting them on 0300 500 8082.
Other services we offer are not regulated by the Financial Conduct Authority however the Financial Ombudsman Services has now been extended to handle some complaints under the Consumer Credit Act.
If You Have A Complaint:
It is the aim of OurCar to provide a very high standard of service to every client. It is important to us that all complaints are resolved as quickly as possible and to the complete satisfaction of our clients.
This procedure explains how we will deal with any complaints. It also tells you what you can do if you think your complaint has not been resolved to your satisfaction.
We are committed to providing a high-quality service to all our customers. When something goes wrong, we need you to tell us about it. This will help us to improve our standards.
If you have a complaint, please contact us with the details. You can email [email protected] or write to us at our business address. After this,
- We will send you a letter acknowledging receipt of your complaint within five working days of receiving it, enclosing a copy of this procedure.
- We will review your complaint and speak to the member of staff who dealt with your enquiry.
- We will then invite you to discuss this and hopefully resolve your complaint. We will do this within 14 days of sending you the acknowledgement letter.
- Within three days of the discussion, we will write to you to confirm what took place and any solutions we have agreed with you.
- If you do not want to discuss this or it is not possible, we will send you a detailed written reply to your complaint, including our suggestions for resolving the matter, within 21 days of sending you the acknowledgement letter.
If you are still not satisfied, you can then contact the Financial Ombudsman Service in writing at:
Financial Ombudsman Service Exchange Tower
London
E14 9SR
Are We Covered By The Financial Services Compensation Scheme (“FSCS”)?
Please note that our credit broking activities are not covered by the FSCS.
Data Protection
We will use your data in accordance with our Privacy Notice which is available on our website www.ourcar.co.uk/privacy_policy/. A copy of the Privacy Notice is also available upon request.