Vehcle Finance Status Disclosure
Frequently Asked Questions
Who are we?
Krothsco Finance Ltd T/A Ask Motors are a dealership acting as a credit broker in arranging finance for vehicle transactions.
Our address is, 655a Bloxwich Road, Walsall, West Midlands, WS£ 2BD. Registered in England. Company Registration Number 05007038. (01922 495 199)
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 671090. For more information, please visit the FCA website at: https://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, we will ensure that this is based on the information you give us about your needs and circumstances so that is 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.
We maym from time to time offer promotional finance terms from our funders. these terms will be for specified and limited time and may apply to; specific stock, age of vehicle or finance balance. These terms maybe offered by one or more of our funders. We will receive different commission amounts if you are taking advantage of a promotion.
Can we give you independent finance advice?
We are not independent financial advisers sand so are unable to provide you with independent financial advice.
Do you have to pay for our services or do we receive any commission?
You don't have to pay us for our service.
But a funder or broker we work with will pay us for introducing you to them. Different funders/brokers will pay us different amounts but it will typically be based on a fixed percentage of the amount borrowed. This percentage may vary according to different factors, for example: the amount of credit; the age or type of the vehicle; the type of finance product; or the funder's assessment of the risk of lending. For your reassurance, we are not able to change the interest rate you pay in order to receive more commission from a particular broker or funder. Although rates an commissions may vary between our finance partners, our sim is always to secure finance from them which is appropriate to your circumstances and at the lowest rate available.
If we are successful in obtaining an offer of finance for you and you would like to know the amount (or likely amount) we would receive if you decided to go ahead with the agreement and how that amount has been calculated, please contact us using he details above.
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 on 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 anf money laundering and to verify your identity. If fraud is detected you could be refused certain services, finance or employment.
Further details of how you information will be used by us, funders and these fraud agencies, and your data rights can be found here [https://www.askmotors.co.uk/privacy-policy.php]. A ful data protection notice/privacy policy will be provided to you before we submit any application for finance on your behalf.
We are registered as a data controller with the Information Commissioners's Office under registration number ZA314883.
What can you do if you with to complain about our services or contact us?
If you wish to make a complaint, please contact us:
* by writing to us at Complaints, [ASk motors, 665a Bloxwich Road, Walsall, West Midlands, WS3 2BD]
* by emailing [askus@askmotors.co.uk, tom@askmotors.co.uk]; or
* by telephoning [01922 495 199]
Id, after making a complaint to us you are still unhappy and feel the matter has not been resolved to your satisfaction, please contact the Finance Ombudsman Service ("FOS" - www.financial-ombudsman.org.uk). Please note that FOS may not be able to deal with complaint 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.askmotors.co.uk/terms-of-use.php]
If you require further information, please contact us by telephoning the above number(s) or emailing us at [askus@askmotors.co.uk, tom@askmotors.co.uk], address your correspondence to [the Complaints Manager].