Status Disclosure

This information relates to the activities undertaken by DS Cars about the Financial services we offer.

The Financial Conduct Authority

The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.

Treating Customers Fairly

Our business is committed to treating our customers fairly and ensuring our products and services are suitable for their needs. Treating Customers Fairly (TCF) is a core part of our culture and philosophy and you can review our commitment to it by asking for a copy of our TCF policy statement.

What products do we offer?

We are a credit broker not a lender. We can introduce you to a limited number of lenders or hire companies who may be able to assist you with your requirements. We will only introduce you to these lenders or hire companies. The finance products we can offer you and the finance providers we predominantly use are detailed in the appendix of this document.

Commission Disclosure

We may receive a commission payment from the finance or hire provider if you decide to enter into an agreement with them. The nature of this commission is as follows: either we receive a fixed fee commission per finance agreement entered into, or we receive a commission based on a percentage of the total amount of finance taken by the customer. This will not affect the amount you pay. You can request for us to disclose the amount of any commission received.

Other Finance Facilities

You may be able to obtain funding for your purchase from other providers and you are encouraged to seek alternative quotations and details of their products by researching on the high street, in themedia and online.

What will you have to pay for this service?

You will not make any payment to us for processing a finance or hire application or for introducing you to a finance or hire provider. All charges that you will pay including, interest, documentation fees or rentals, where applicable, will be clearly shown on the finance or hire agreement.

Understanding our products and documents

You should carefully consider the amount of time you need to reviewthe information and documentation with which you have been presented, and ensure you understand your commitments under theagreement. You should also consider if it is advisable for you to havesomeone you know to help you make your decision. This is particularly important if you have any health issues, difficulty in understanding information, or there have been any recent life events that could affect your ability to fully understand the information and documentation. Please advise us if this is the case and we can then proceed with your requirements in the most appropriate way.

Affordability

You should assess the monthly payments you are required to make throughout the agreement and ensure you are able to meet these and other obligations you already have without suffering undue hardship. If you are aware of any future events that will affect your ability to meet these payments, you should ensure the finance provider is informed immediately. Your credit rating could be adversely affected if you do not make payments when due which could make it harder or more expensive for you to access finance facilities in the future.

Who regulates us?

David Steinberg trading as DS Cars is authorised and regulated by the Financial Conduct Authority; registration number 788884. David Steinberg’s address is DS Cars, 108 Barnish Road, Randalstown, BT41 2NL. You can check this information on the FCA register by visiting www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.

What to do if you have a complaint

If you wish to register a complaint, please contact us: in writing: DS Cars, 108 Barnish Road, Randalstown, BT41 2NL by telephone: 07851 265098 by email: dscars@icloud.com.

If you would like to know how we handle complaints, please ask for acopy of our complaints handling process. If you cannot resolve a complaint with us, you may be entitled to refer it to the Financial Ombudsman Service whose contact details are set out below: in writing: The Financial Ombudsman Service, Exchange Tower, LondonE14 9SR by telephone: 0800 0234567 by email: complaint.info@financial-ombudsman.org.uk website: www.financial-ombudsman.org.uk

Confidentiality and Data Protection

Throughout the process of administering services for you we will need to collect personal information from you and pass this information to one or more third party organisations in order for them to supply any services you request. This may include passing this information to one or more potential lenders or credit brokers to enable them to make a credit decision.

These lenders may use your information to conduct an affordability and credit worthiness assessment and will do so using the consent given by you. This may include sharing your information with credit reference agencies and other companies for use in credit decisions and fraud prevention.

For full details of where your information will be sent, and the purpose for doing so, or to cancel your consent for the processing of your personal data, please contact us.

In cases where your initial application may be refused by the most suitable lender, your application may be referred to other lenders or credit brokers who may also share information with credit reference agencies in order to assess your application for finance. Those lenders or credit brokers will not use your personal information to provide you with promotional or marketing material, unless you opt-in to receive this material directly with them.

A copy of our privacy policy, which details how your information will be processed and your rights, is freely available upon request. To request this information please contact us: in writing: DS Cars, 108 Barnish Road, Randalstown, BT41 2NL, by telephone: 07851 265098 by email: dscars@icloud.com

Appendix - Products Offered

Hire Purchase/ Conditional Sale (HP/CS)

Ownership options

You have an option to own the vehicle at the end of the agreement.
You are the registered keeper but the nance company remains the owner until the nance is paid in full. In some circumstances, if you have problems with the vehicle, you maybe able to refer these issues to the finance company.

Restrictions/potential extra costs

There are usually no mileage restrictions though you will need to check your agreement. Excess mileage charges will not apply. You cannot sell the vehicle until the finance has been paid off in full. You will need to service and insure the vehicle inline with the terms of the agreement.

Payment and equity

Flexible terms may allow you to finance the vehicle over a longer period than leasing and PCP. By increasing your deposit,you will lower the monthly payment.
As the amount borrowed is paid off in equal instalments during the term of the agreement, it is more likely you will have a higher amount of equity than a PCP agreement for the same term. However, if you decide to sell the vehicle before the end of the agreement, you will have to pay the agreement in full (less an interest rebate) which will reduce the amount of equityyou have in the vehicle and particularly in the early stages of the agreement could mean the vehicle is worth less than the amount of finance outstanding.

Personal Contract Purchase (PCP)

PCP is a car finance agreement which is for a fixed number of repayments followed by a large balloon payment referred to as the Guaranteed Minimum Future Value (GMFV).

The monthly payments on a PCP will be lower than a HP agreement of the same term due to the balloon payment at the end. The price of the vehicle is usually split into 3 amounts - a deposit, the monthly instalments, and the final optional payment (GMFV), PCP finance could be a good option if you liketo change your vehicle regularly.
The agreement can be settled at any time during the agreed term.
At the end of the initial term, you have 3 options
1. Pay the settlement figure (GMFV) to the finance company and keep the car.
2. Hand the car back to the finance company without any further liability (subject to mileage and condition of the car).
3. Part exchange the vehicle for a new car and start a new agreement. The new dealer will work out a value for your vehicle and structure a new deal including the settlement of your outstanding finance.

Potential risk of a PCP product

If you cannot afford to make the final payment (balloon payment) at the end of the agreement you would have to handback the vehicle or start a new PCP contract.
Failure to maintain the monthly payments can result in the repossession of the vehicle.
There is an annual mileage limit which would be agreed at the start of the agreement. This will affect the GMFV and your monthly repayments. If the anticipated annual mileage is exceeded there will be financial penalties if the customer choses to hand the car back to the finance company at the endof the term. The value of the vehicle may be less than the settlement figure if the annual mileage has been exceeded, which means that the customer may have to pay a shortfall when trying to part exchange the vehicle.
The vehicle must be maintained to a good condition and the customer must ensure any damages or scratched bodywork must be put right before handing the car back to the finance company.

Personal Loan (PL)