Initial Disclosure

Initial Disclosure

The Financial Conduct Authority (FCA) is the independent regulator of financial services. Use this information to decide if our services are right for you. Economy Vehicles Ltd of 984 Christchurch Road Bournemouth Dorset BH76DW 01202434373 is authorised and regulated by the Financial Conduct Authority as a credit broker and is included on the Financial Services Register 

Initial Disclosure Document - Consumer Credit
Your Finance Options 
As an FCA-regulated credit broker we can introduce you to a selected group of lenders (a list is available on request) who may be able to help you finance your purchase. This group of lenders 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. 
We do not charge fees for our Consumer Credit services. We may receive a commission payment or other benefits from finance providers should you decide to enter into an agreement with the finance provider. 
We have taken steps to ensure that if, while 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 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 contacting us using the address and telephone number above. 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: Financial Ombudsman Service, Exchange Tower, London, E14 9SR.
As an organisation we are committed to treating our customers fairly, before, during and after a sale. 
Before the sale you can expect:
To have any significant and unusual exclusions or exceptions relating to the finance agreement 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 finance agreement 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 finance agreement within regulatory agreed timeframes
To have any complaint dealt with in a timely and professional manner 

If at any time you feel you have not been treated fairly by any member of our staff, please contact us by writing to Economy Vehicles Ltd, 984 Christchurch Road, Bournemouth, Dorset, BH76DW or by telephone 01202 434373.
Confidentiality and Data Protection 
Your information will only be disclosed/provided to third parties for the purposes of providing, arranging, administering, and renewing finance 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 purpose of such data transfer, please ask us.

Commission Disclosure.
Introduction:If a credit broker (including a motor dealer) receives any commission then the Financial Conduct Authority expects the existence of commissions or other remuneration payable to be declared in good time before a credit agreement or consumer hire agreement is entered in to. Discretionary commission models have been banned by the FCA as of the 28th January 2021. The Financial Conduct Authority has made it clear that “commission” means any financial consideration.
Economy Vehicles Ltd offer products and services from a range of Finance Companies and Product Providers with whom we have commercial agreements in place. If a customer decides to take out an agreement with one of those lenders, the lender will typically pay us a commission for the introduction. It is very important to understand that any potential commission paid to us does not affect the amount the customer pays on their agreement and any interest rate is set by the lender, not us.
Economy will always provide its customers with product information enabling them to make an informed choice about how to proceed. Economy Vehicles Ltd maintains a policy of consistency and transparency regarding commission disclosure requests. Where a retail customer requests disclosure of potential commission earnings from funding partners regarding the specific brokering of the deal under construction (before conclusion) they are entitled to this information. Economy Vehicles Ltd will willingly provide this information to all customers. Should a customer wish to understand the potential amount or the likely amount of commission payable by the lender, owner or third-party in relation to the finance they are taking out then this will be provided willingly in writing in line with the company’s commission disclosure policy.
What to do if you would like to request Commission Disclosure? If you would like Economy to disclose any potential commission please make your request in writing to Economy Vehicles Ltd, 984 Christchurch Road, Bournemouth, Dorset, BH76DW.Your request, once made, will be actioned by the Compliance department. A record of all commission requests and responses will be retained. Alternatively, you can also contact us via the following methods: By e-mail – [email protected] By Phone – 01202 434373.
If we cannot settle things to your satisfaction directly you may be entitled to refer your complaint on to the Financial Services Ombudsman Service or other arbitration & dispute resolution scheme. Details on how to contact will be provided on our final response. 

We supply new and used vehicles nationwide with most of our established customers in the local areas of Bournemouth, Poole, Christchurch, Ferndown, Ringwood, the New Forest, Dorset, Hampshire and Wiltshire.