About our finance services
1. What finance services do we provide you with?
We can introduce you to a limited number of finance providers who offer a limited number of finance products. We are Credit Brokers not a lender and we are not independent financial advisors.
2. What will you have to pay us for our finance services?
No fee is payable by you for our finance services, we may be paid by the finance provider for introducing you to them.
3. Details of our Consumer Credit Licence
Baytree Cars Limited, Burnden House, 31 Chequers Lane, Derby DE21 6AW is authorised and regulated by the Financial Conduct Authority in Consumer Credit Activity. Our FCA Register Number is FRN 734174 and our consumer credit permission became effective on 2nd March 2016.
Our permitted business is Credit Broking, Debt Adjusting (Limited) and Debt Counselling (Limited) and this Initial Disclosure Document only applied to products we advise on, which are regulated by the FCA.
You can check this on the FCA’s Register by visiting the FCA’s website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.
4. How we will use your information?
We will use your information to obtain quotes from lenders and to process finance applications through them and they may also conduct searches of your record held with one 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 and money-laundering and to verify your identity. The personal data of any joint applicant or guarantor is processed on the same basis.
5. What to do if you require further information or have a complaint?
If you wish to register a complaint, please contact us:
… in writing Write to: FCA Contact, Myles McDermott
Baytree Cars Limited, Burnden House, 31 Chequers Lane, Derby DE21 6AW
… by phone 01332 345987
… by email email@example.com
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
HP - Hire Purchase
With hire purchase, you put down a deposit that suits your budget. You then pay the rest of the value of the car in instalments, over a period of two to five years.
You are in effect hiring the car until you make your final payment, after which you will own the vehicle.
PCP - Personal Contract Purchase
Pay any deposit and then the monthly repayments until the end of the agreement. Then you have three options – pay the optional final payment to own the vehicle, hand the vehicle back to the lender and walk-away or hand the vehicle back and use any equity in the market value of the vehicle over the optional final payment as a deposit towards a new finance agreement.