Status Disclosure
Vehicle Finance Status Disclosure for Parkside Motors Ltd
Frequently asked questions
Who are we?
Parkside Motors LTD, a dealership acting as a credit broker in arranging finance for vehicle transactions.
200 Burnt Oak Broadway
Edgware
HA8 0AP
Registered in England. Company No. 09253887
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 723139. For more information, please visit the FCA website at: www.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 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?
No, you make no payment to us.
However, the 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.
The amount of commission will be calculated as a percentage of the amount of credit advanced. The commission we receive will vary according to the amount of credit you take or the lender’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 lender. The amount of commission may change based on any acceptance criteria requested by the lender or if terms change between acceptance by the lender 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. The amount of commission received does not influence our lender assessments.
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..
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, Parkside Motors LTD
* by emailing [email protected] ; or
* by telephoning 0208 9526908
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.parksidemotorsltd.co.uk/
If you require further information, please contact us by telephoning the above number or emailing us at [email protected] your correspondence to Complaints and Procedures Department, 200 Burnt Oak Broadway, Edgware, HA8 0AP