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Initial Disclosure Document

BTS Cars Limited - Initial Disclosure Document

At BTS Cars Limited, we are committed to providing you with clear and transparent information about the products and services we offer. As part of our dedication to adhering to the Financial Conduct Authority's (FCA) Consumer Duty standards, we have prepared this Initial Disclosure Document (IDD) to ensure you have all the essential details before making any decisions regarding our financial products and services.

About Us

BTS Cars Limited is a limited company registered in England and Wales.
Registered Address: 2 Clarke Street, Derby, DE1 2BU
Company Number: 11844212

Who Regulates Us?

BTS Cars Limited is authorised and regulated by the Financial Conduct Authority.
Firm Reference Number (FRN): 945283

You can check these details on the Financial Conduct Authority website: http://www.fca.org.uk or by contacting the FCA directly on 0800 111 6768.

Our permitted regulated business activities are:
Credit broking, debt adjusting and debt counselling on a commercial basis.

Our Regulated Services

We can offer a range of financial products and services to help you with the purchase of your vehicle. These include:

- Hire Purchase (HP): A finance option where you can spread the cost of the vehicle over an agreed-upon term. Ownership transfers to you upon completion of all payments

- Personal Contract Purchase (PCP): A flexible finance option that allows you to lower your monthly payments by deferring a part of the vehicle's cost to the end of the agreement. You have the option to purchase the vehicle, return it, or part-exchange it at the end of the term.

BTS Cars Limited is a credit broker, not a lender.

Our Fees and Charges

We do not charge our customers any fees for our credit broking services or for the cancellation of a credit agreement with a credit provider on our panel.

The lender we introduce you to may pay us a commission, which is either a fixed fee or a percentage of the amount you borrow. The amount of commission we receive does not affect what you pay under your credit agreement.

Commission Disclosure

We are required to disclose the total amount of commission received from the lender. This will be provided to customers at or before the point of sale, either electronically or in a physical format.

Benefits of Our Credit Broking Service

  • One-stop solution for car selection and finance.
  • Access to a panel of reputable lenders.
  • Streamlined processes and faster approvals.

Limitations of Our Credit Broking Service

  • You may find better rates elsewhere by shopping around.
  • Our options are limited to the lenders on our panel.

Credit Searches

Lenders may conduct a full credit search. If the first lender cannot offer a credit facility, we may approach other lenders. Details of any credit search will be provided by the lender prior to agreement.

Information You Provide

You must ensure all information provided is accurate. Inaccurate information may void the agreement. If unsure, please contact us

How We Use Your Data

Your data will be processed in accordance with the Data Protection Act 2018 and may be shared with our partnered lenders to help secure the most suitable finance product. More details are in our Privacy Notice.

Suitability and Affordability

Credit products may not be suitable for everyone. Always consider your financial situation before entering into an agreement. Failure to repay may lead to legal action and negatively impact your credit score.

Cancellation Rights

You can cancel a regulated credit agreement within 14 days of signing. After that, your rights may be affected, and fees may apply. Cancellation must be done directly with the lender.

Complaints

If you have a complaint, please contact us:

In writing: Complaints, BTS Cars Limited, 2 Clarke Street, Derby, DE1 2BU
By phone: 01332 229703
By email: [email protected]

If we are unable to resolve your complaint, you may refer it to the Financial Ombudsman Service, Exchange Quay, London, E14 9SR.

Conclusion

We hope this Initial Disclosure Document has provided a clear overview of our business and the services we offer. Please contact us if you have any questions or require further information.