Key Facts & Disclosures

Underwoods Motoring is dedicated to delivering a personal purchase experience that is second to none. Because we recognise that you always have a choice, we believe in providing a customer experience based on understanding our customer’s needs and treating customers fairly.

To ensure we deliver the highest standards of customer experience we have invested in becoming an Appointed Representative (FCA Registered No. 310845) and are regulated by the Financial Conduct Authority (FCA). They are the independent watchdog that regulates financial services. Please use the following information to decide if our services are right for you.

To obtain FCA authorisation our staff have been trained and assessed on general insurance and finance broking, this forms part of a structure that has been implemented to ensure they remain continually competent. When making a recommendation you can rest assured that any such recommendation will be suitable for your demands and needs at the time it is given. To accurately assess your demands and needs we will, at times, seek any relevant information about your personal circumstances and objectives to enable us to identify your requirements.

If you decide to decline the opportunity to purchase any of the product available, you may also decide not to provide us with the necessary information for us to ascertain your requirements. It is important that any information you provide to us is accurate and relevant.

Our permitted business is advising, arranging and assisting in the administration on Non Investment Insurance Contracts and Credit Broking. Details of our authorisation can be confirmed by visiting the FCA’s website www.fca.gov.uk/register, or by contacting the FCA on 0800 111 6768 (free phone). Our Financial Conduct Authority FCA number is: 310845.

Finance Disclosure

Underwoods Garage (Tiptree) Limited are a motor finance dealer, credit broker, but not a lender. All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over and guarantees may be required. We have relationships with a number of lenders which could include preferential terms such as a requirement to submit an application to them first or exclusively. We are not providing you with independent financial advise and are not impartial. The finance products we are offering to you, in respect of which we will be paid a commission by the lender, may therefore not be the best financing option available to you. You can ask us for more information about the lenders we work with.

If you enter an agreement with one of our lenders they will pay us a commission fee or other remuneration. This will be based on a fixed percentage of the amount financed. The maximum amount of commission paid to us by our lender panel is 6.5% of the balance financed. This equates to £65.00 per £1,000.00 borrowed. As part of the interest charged to you in your agreement you will pay the lender for their costs including the commission they pay to us.

You are entitled to ask more questions and if you do, we are required to provide you with an answer. We cannot proceed with a proposed agreement unless you provide your consent to this commission arrangement and the potential conflict of interest it generates.

Our Finance Providers are; Santander Consumer Finance, Stellantis Finance, Mann Island Finance

Types of funding we provide includes; Hire Purchase, Conditional Sale, Unconditional Sale, Lease Purchase, Personal Loan, Personal Contract Plan, Contract Hire, Finance Lease.

Insurance Disclosure

Underwoods Motoring is permitted to advise on and arrange a number of warranty products for its customers and we use a number of suppliers to do so; Spoticar used car Warranty provided by Allianz, Volkswagen Financial Services and Warranty Solutions Group. We do not receive a commission for providing this service but do charge fees included in the selling price of the policies. These policies are optional but may provide you with full peace of mind in the future, so we ask you to read and fully understand all the information provided to you and we will confirm your understanding of our products and services. Please be aware that we can only advise on the products we provide and that other products may be available to you from alternative suppliers.

What to do if you have a complaint

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

Write to: Underwoods Garage (Tiptree) Ltd, 5 Church Road, Tiptree, Essex, CO5 0LG.

By phone: 01621 817781.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

Are Underwoods covered by the Financial Service 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.

Most insurance contracts are covered for 90% of the claim.