Initial Disclosure Document
Initial Disclosure Document
A1 Car Shop
A1 Car Shop, Mill Lane, Arlesey, SG15 6RF
Phone Number: 07903 270697
Email Address: sales@a1carshop.uk
Introduction
At A1 Car Shop, we offer a variety of car finance options to help you purchase your next vehicle. We are a credit broker, not a lender, and work with a range of third-party finance providers to find the best option for you.
This document provides you with important information about our finance services, ensuring that you understand your rights and the terms of the agreement before entering any finance contract.
Our Role
We act as a credit broker and introduce you to our panel of third-party lenders who will provide the finance for your vehicle purchase. We do not make lending decisions, nor do we offer finance ourselves. The terms and conditions of the finance agreement, including the interest rate and repayment schedule, are provided by the lender.
Finance Options Available
We offer the following finance options:
• Hire Purchase (HP)
• Personal Contract Purchase (PCP)
Each option is designed to make vehicle ownership affordable with flexible terms. The details of each option, such as deposit amount, monthly payments, interest rates, and total cost, will be clearly outlined in the finance agreement you receive from the lender.
Key Information for Customers
Before proceeding with any finance agreement, we ensure that you are fully informed of the following:
• The total amount payable over the term of the loan.
• The APR (Annual Percentage Rate) and interest charges.
• The deposit amount and monthly payment schedule.
• Any applicable fees, such as early repayment fees or late payment charges.
• The total cost of the vehicle, including any interest and additional fees.
• The terms and conditions of the finance agreement with the lender.
How the Finance Process Works
Once you have selected your vehicle, we will discuss your finance options and help you choose the best lender and product for your needs. The process is as follows:
1. Application: We submit your finance application to our panel of lenders.
2. Decision: The lender assesses your application and determines the terms of the finance agreement.
3. Agreement: If approved, you will receive a credit agreement from the lender with the finance details.
4. Acceptance: After reviewing the terms, you sign the agreement, and the vehicle can be delivered to you.
Your Lender
We work with a variety of trusted lenders to provide finance. The specific lender for your agreement will be disclosed in the finance agreement you receive. The lender is responsible for managing your loan, including collecting payments and handling any account-related queries.
GDPR & Customer Data Protection
We are committed to protecting your privacy and ensuring the security of your personal data. In accordance with the General Data Protection Regulation (GDPR), we will only collect and use your personal information for the purpose of arranging your vehicle finance and for compliance with relevant legal obligations.
We will not share your personal data with any third party, including lenders, unless it is necessary for processing your finance application. You have the right to request access to, rectification of, or deletion of your personal data at any time. For further information, please refer to our Privacy Policy, available on our website or upon request.
Right to Withdraw
You have the right to withdraw from any finance agreement without penalty within 14 days of signing the agreement. To exercise your right to withdraw, please contact us in writing, by email, or by phone. If you decide to withdraw, we will provide you with instructions on how to return the vehicle and cancel the agreement.
Customer Complaints
We are committed to providing excellent customer service. If you are dissatisfied with any aspect of our service or finance agreement, please contact us directly at:
• Phone: 07903 270697
• Email: sales@a1carshop.uk
We will aim to resolve your complaint as quickly as possible. If you are still dissatisfied after contacting us, you have the right to refer your complaint to the Financial Ombudsman Service (FOS). The FOS is an independent body that can review your complaint and provide a resolution. You can contact the FOS by:
• Website: www.financial-ombudsman.org.uk
• Phone: 0800 023 4567
• Address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
Declaration
We are committed to ensuring that you are fully informed about your finance options and rights. Please take the time to read all documents carefully before entering into any finance agreement.