Status Disclosure Statement
Finance and Insurance services
1. The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.
2. Whose products do we offer?
Oasis Motor Finance Ltd is a lender. We also act as a credit broker where we can introduce you to a limited number of lenders and products to assist with your vehicle purchase. We are not an independent financial advisor and do not make recommendations, however, we will provide you with information on products that may suit your requirements based on the information you disclose, to assist you in making an informed decision on your purchase.
We offer a varied range of funding options from Hire Products (such as Personal Contract hire and Business Contract Hire), to Finance products (such as Hire Purchase to Personal Contract Purchase). For our finance product offering, the rate that you pay will depend on your credit score. Prior to proceeding we will discuss this rate with you and a full written example will be on your finance agreement should you go ahead.
Our approach is to introduce you to our panel of lenders who will look to make you an offer of finance based on your circumstances. Where they are unable to make you an offer of finance, we will inform you in writing. Please ask for a list of our funding partners.
Occasionally, we may need to use the services of a credit broker – we will advise you if this is applicable.
3. Which service will we provide you with?
We will provide you with information to assist with your funding decision on the following:
- Credit Agreements –Hire Purchase, Lease Purchase, Finance Lease, Personal Contract Purchase, Contract Purchase, Conditional Sale, Business Contract Hire and Personal Contract Hire
- Non-Regulated Products: Comprehensive Mechanical Breakdown
4. What will you have to pay us for our services?
You will receive our Information Notice that will outline any fees that are owed to us in relation to the preparation, arrangement or services provided through us prior to signing your agreement.
Lenders typically pay a commission to us for introducing you to them, different lenders may pay different commissions for such introductions.
- Finance products (for example, Hire Purchase, Personal Contract Purchase or Conditional Sale) are usually calculated by reference to the vehicle model, product or amount you borrow. Any such amounts lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned.
- The commission we receive for Hire Products (for example, Personal Contract Hire, Business Contract Hire, etc) may be pre-set but can vary and may impact the amount payable by the you.
We receive commission as a proportion of premium paid from our insurance provider if you decide to enter an agreement with them.
5. Who regulates us?
Oasis Motor Finance ltd is authorised and regulated by the Financial Conduct Authority for Consumer Credit activities, our Firm Reference Number (FRN) is 757830.
You can check this on the FCA Register by visiting www.fca.org.uk
6. What to do if you have a complaint.
If you wish to register a complaint, please contact us:
- In writing: Customer Care Team, Oasis Motor Finance Limited, C/O HVS LTD, Trident Park, Trident Way, Blackburn, Lancashire BB1 3NU
- By phone: 0330 822 5392
- By email: customercare@oasismotorfinance.co.uk
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service; www.financialombudsman.org.uk
7. Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
General Insurance advising and arranging is covered for 90% of the claim with no upper limit. Compulsory forms of insurance (e.g. Motor Insurance) are covered for 100% of the claim with no upper limit.
Please note – finance products are not covered by this scheme.