Initial Disclosure Document

 

Please read the following carefully. You should consider the information provided before signing the finance agreement to decide if our services are right for you

 

What is an Initial Disclosure Document?

The Financial Conduct Authority (FCA) is the independent regulator of financial services. The FCA require us to provide you with a document called an ‘Initial Disclosure Document’. This document provides information about us, the services we will provide, who regulates us and what to do if you have a complaint.

Who regulates us?

Penrican Credit Limited T/A Carloan2day is authorised and regulated by the Financial Conduct Authority FRN 305661. You can check this on the FCA’s website www.FCA.gov.uk/register or by contacting the FCA on 0300 500 8082.

What products do we offer?

Penrican Credit Limited t/a Carloan2day is a credit broker and a lender. We offer a limited number of finance products from a selected panel of lenders. Our role is to determine which lender on our panel to introduce you to. We offer Conditional Sale and Hire Purchase products, depending on the finance company. Each credit provider may have different interest rates and charges. Depending on your circumstances, you may be able to negotiate a better or different finance arrangement if you shop around.

We may select to place you with our own lending facility, Penrican Credit Limited. We will only ever select this particular lender from the panel available to us if it is in your interests and is the most appropriate lender for your particular needs.

As a credit broker, with a limited panel of lenders from whom we receive a commission, Penrican Credit Limited t/a Carloan2day is not acting impartially.

When providing our lending services, Penrican Credit Limited may pay the dealer a commission, the dealer will not give you an impartial recommendation on finance.

 

What will you have to pay us for our services?

We do NOT charge a fee for the introduction to the finance provider.

 

We are NOT independent financial advisors

We will provide details of the products available from the lenders we work with, but no advice or recommendation will be made. You must decide whether the finance product is right for you.

 

Commission Disclosure

The commission we receive will never dictate which lender you are placed with.

Please read this carefully.

Broker Commissions:

We will receive a commission payment for arranging your finance. The commission payment could be a flat amount, or it might be an amount calculated as a percentage of the amount you’re borrowing, which means the payment we receive may vary depending on the amount you borrow.

Any commission we receive will not affect the amount you pay under your finance agreement.

As described above, the amount of commission payable is predetermined. We will confirm the amount of commission we will receive for arranging the finance in good time, before you sign the finance agreement.

We may pay the dealer/Introducer a percentage of the commission.

Penrican Credit Limited Commission:

We (Penrican Credit Limited) as the lender, may pay a commission payment to the introducing dealer.

The commission payment is a flat amount, based on the advance. Any commission the dealer receives will not affect the amount you pay under the finance agreement. We will confirm the amount of commission we may pay in good time, before you sign the finance agreement.

 

Using your personal data

Please read our privacy notice as your personal data is being processed by Penrican Credit Limited t/a Carloan2day.

https://www.carloan2day.co.uk/privacy-policy/

Our registration number with the Information Commissioner’s Office Z707934X.

 

Contact Us

If you have any queries regarding the agreement you are entering in to, please contact us on:

Phone: 0113 2581 826

Email: sales@penricancredit.co.uk

 

Complaints

We are committed to resolving complaints as quickly as possible, if you wish to make a complaint, please let us know what’s happened. You can either call us, email us or write to us.

We’ll need to know:

• Exactly what’s gone wrong and how and when it happened
• The finance company your finance is currently with

Once we have this information, we’ll be able to start looking into your complaint for you.

We will promptly acknowledge your complaint in writing, investigate your complaint and will send you a final response within 8 weeks of receipt of the complaint.

Phone: call us on 0113 2581 826

Email: email us at sales@penricancredit.co.uk

Letter: Feel free to write things down in a letter but please remember to factor the postal service into our response time. Write to us at: Penrican Credit Limited, First Floor, 257A New Road Side, Horsforth, Leeds, LS18 4DR

If you’re not satisfied with how we dealt with your complaint

If you are not happy with the decision we’ve taken on your complaint and wish to take it further, you can ask the Financial Ombudsman Service to look into the complaint for you. This is a free, independent service for resolving disputes between customers and financial service institutions. They will require you to consult them within 6 months of the date of our final response letter, and they’ll ask to see the letter as summary of our investigation of your complaint.

Phone: 0800 023 4567 or 0300 123 9123

Email: complaint.info@financial-ombudsman.org.uk

Online: www.financial-ombudsman.org.uk

Post:      The Financial Ombudsman Service, Exchange Tower, London, E14 9SR