Status Disclosure

Dealer Finance Status Disclosure

Vehicle Finance Status Disclosure for Low Cost Motor Company

Frequently asked questions

Who are we?

Lane & Co Ltd T/A Low Cost Motor Company a dealership acting as a credit broker in arranging finance for vehicle transactions.

Our address is: Royal Oak Hill, Newport NP199FL Registered in Wales. Company registration no. 6367745

Are we autorised 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 Frim Reference Number is 665348. 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 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 it 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.

Can we give you independent financial advice?

We are not independent financial advisers and so are unable to provide you with independent financial advice. We are, however, independent of the funders and brokers we work with.

Do you have to pay for our service?

No, you make no payments to us. But a funder or broker we work with may pay us for introducing you to them. Different funder/brokers may pay us different amounts. We will tell you how much we will be paid if you ask.

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 recoed held with one of 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 verity your identity. If fraud is detected you could be refused certain services, finance or employment.

Further details of how your information will be used by us, funders and these fraud prevention agencies, and your data rights can be found here https://www.lowcostmotorcompany.co.uk/privacy-policy. A full 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 Commissioner's Office under registration number ZA780883

What can you do if you wish to complain about our services or contact us?

If you wish to make a complaint, please contact us:

* by writing to us at Complaints, Low Cost Motor Company, Royal Oak Hill, Newport NP199FL

* by emailing lowcostmotors@live.co.uk

* by telephoning 01633 282836

If, after making a complaint to us you are still unhappy and feel the matter has not been resolved to your satisfaction, please contact the Financial Ombudsman Service ("FOS" - www.financial-ombudsman.org.uk). Please note that FOS may not be able to deal with complaints from business customers

(Further details about our complaints procedure and FOS are unvailable on request and can be found on our website at https://www.lowcostmotorcompany.co.uk/terms-of-use.) If you require further information, please contact us by telephoning the above number or emailing us at lowcostmotors@live.co.uk, addressing your correspondence to Lee Williams.