we explain our role as an authorised credit broker, how we connect you with finance partners, and how we receive commission
Swansway Garages Limited: how we help with vehicle finance
Who we are
Swansway Garages Limited acts as a credit broker—an intermediary that introduces customers to specialist finance providers. We do not lend money ourselves or hold finance accounts. Our job is to gather basic details, match you with suitable funders, and explain the options, terms and any relevant rules so you can decide with confidence.
We are authorised and regulated by the Financial Conduct Authority (FCA number 304920).
Our role in plain terms
– We collect the information funders need to assess applications and we pass those applications on. – The lender you are introduced to carries out the affordability and credit checks, decides whether to offer finance, and issues the formal contract.
– Any offer you receive is “subject to status” — meaning final approval depends on the lender’s checks and criteria.
How finance offers are shown
Where available, we present options from a range of panel providers. The specific details—APR, deposit, contract length and any fees—come from the funder.
You will always receive the funder’s formal terms before you sign anything, so you can compare real numbers rather than estimates.
How we are paid
When a finance agreement is completed, the funder typically pays us a commission or fee. That commission:
– Is paid by the provider, not added to the amount you borrow as a separate charge; and – Does not change the fact that the funder sets the contractual terms and is the lender on the agreement. We will disclose commercial relationships that might influence the options shown so you can judge any potential conflicts of interest.
What FCA authorisation means for you
Being authorised by the FCA means we must meet conduct and disclosure standards designed to protect consumers. Practically, that requires us to:
– Explain the products we introduce and any relationships that could influence recommendations; – Make clear that lenders—not us—assess affordability and make final lending decisions; and – Provide clear information so you can compare offers and avoid unsuitable agreements.
The application and decision process
– We take basic information and search our panel for suitable products. – Providers typically run quick preliminary checks; full underwriting and document verification can take longer. – If a provider approves your application, they will ask you to sign the contract and supply any required deposit or paperwork. They will also confirm the final terms before funds are released or a hire-purchase agreement begins.
What “subject to status” means
This phrase indicates the lender will verify your creditworthiness before confirming the agreement. Lenders examine income, existing debts and credit history. A provisional offer can therefore change—either by being confirmed, adjusted, or declined—once checks are completed.
Practical tips for comparing offers
– Look at total cost, not only the monthly payment. Compare APR, arrangement fees, early repayment charges and the total amount repayable. – Ask for a representative example and a full written breakdown of fees and charges. – Keep records of quotations, correspondence and the final agreement. – If a provider declines your application, ask for reasons and, where possible, guidance on steps to improve eligibility.
How commission affects choice (and what we do about it)
Commission is common across the market and does not by itself mean a product is unsuitable. Still, it creates a potential incentive that should be transparent. We:
– Disclose when commission applies and explain how we are paid; – Aim to work with a panel of reputable providers to widen choice and minimise bias; and – Encourage side-by-side comparisons so you can weigh product features and costs, not just recommended options.
If you have concerns or complaints
– You can complain to us first; we will handle your complaint in line with FCA rules. – Once a finance contract exists, you may also complain directly to the provider. – If a complaint is not resolved to your satisfaction, you can refer the matter to the Financial Ombudsman Service.
Our role in plain terms
– We collect the information funders need to assess applications and we pass those applications on. – The lender you are introduced to carries out the affordability and credit checks, decides whether to offer finance, and issues the formal contract. – Any offer you receive is “subject to status” — meaning final approval depends on the lender’s checks and criteria.0
Our role in plain terms
– We collect the information funders need to assess applications and we pass those applications on. – The lender you are introduced to carries out the affordability and credit checks, decides whether to offer finance, and issues the formal contract. – Any offer you receive is “subject to status” — meaning final approval depends on the lender’s checks and criteria.1
Our role in plain terms
– We collect the information funders need to assess applications and we pass those applications on. – The lender you are introduced to carries out the affordability and credit checks, decides whether to offer finance, and issues the formal contract. – Any offer you receive is “subject to status” — meaning final approval depends on the lender’s checks and criteria.2
Our role in plain terms
– We collect the information funders need to assess applications and we pass those applications on. – The lender you are introduced to carries out the affordability and credit checks, decides whether to offer finance, and issues the formal contract. – Any offer you receive is “subject to status” — meaning final approval depends on the lender’s checks and criteria.3
