Status Disclosure
Vehicle Finance Status Disclosure for P D Nagington Motor Engineers Ltd as a Credit Broker and Not a Lender
Frequently Asked Questions
Who are we?
P D Nagington Motor Engineers Ltd are a dealership acting as a credit broker in arranging finance for vehicle transactions. Our registered office address is: P D Nagington Motor Engineers Ltd, 74 Cheshire Street, Market Drayton, Shropshire. TF9 3AA.
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 667639. 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 in the market place that we do not have a working relationship with but may be able to offer you finance should you wish to contact them directly. 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 this 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 or at the rates illustrated on the website.
Can we give you independent financial advice?
We are not independent financial advisers and are unable to provide you with independent financial advice.
Do you have to pay for our service or do we receive any commission?
You don’t have to pay us for our service but any of our funders or brokers that we are associated with may pay us for introducing you to them. Different funders/brokers may pay us a different amount 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 vehicle; the type of finance product; or funder’s assessment of the risk 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 and commission may vary between our finance partners, our aim is always to secure finance from them which is appropriate to your circumstances and at the lowest interest rate available.
How will we use your information?
We will use your information to obtain quotes from funders and brokers to process finance application/s – this process may include the funders / brokers to conduct a search of your personal records 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. If fraud is detected you could be refused certain services, finance or employment.
What can you do if you wish to complain about our services or contact us?
If you wish to register a complaint, please contact us:
In writing: P D Nagington Motor Engineers Limited, 74 Cheshire Street, Market Drayton, Shropshire TF93AA
By email: carsales@pdnagington.co.uk
By telephone: 01630655419