Treating Customers Fairly
At Pink Vehicle Leasing we are committed to giving you excellent customer service and treating you fairly. We are fully committed to providing the highest standards of client service and advice and we never forget that you have a choice of supplier and are grateful that you've chosen us.
Treating Customers Fairly (TCF) is one of the key principles set by the Financial Conduct Authority to ensure fair treatment of customers, by improving standards across the financial industry.
As a part of this, Pink Vehicle Leasing follows the relevant aspects of the Financial Conduct Authority's six guiding principles on how to engage with our customers. These are known as the 'Treating Customers Fairly' principles and govern how we communicate with customers, the level of service we provide and the fairness of our products and procedures.
The six principles for treating customers fairly
Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.
Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
Ways we meet these requirements in the day to day running of our business
We continually aim to understand the needs of our clients
We ensure that the marketing of our products is appropriately targeted, clear, not misleading and highlights the risks/conditions as well as the key features/benefits of a product.
We make certain our clients understand the risks associated with our services at the outset of an instruction.
We keep our clients fully informed in a clear and fair manner that is unambiguous and not misleading.
We ensure our services are delivered with clarity and transparency and do not contain hidden conditions or rely on complex technical definitions.
Any advice provided will be appropriate and consider the customer's individual needs and circumstances.
We take our clients' privacy seriously and ensure that our staff are aware of and follow rules in relation to data protection to ensure that clients' details are kept secure and confidential.
We take any complaint seriously and will deal with any complaints promptly and make improvements to our operations where required.
If you have a complaint
Please visit our complaints procedure page.
Consumer Outcomes
Pink Vehicle Leasing will ensure that it adheres to the four Consumer Duty Outcomes, which are:
a. Products and Services:
We will ensure that the products and services we distribute meet our customers' needs, characteristics, and objectives while performing as expected.
As a distributor of products and services, we will:
We will gain a deep understanding of their features, benefits, and limitations. We will clearly identify our target market for each offering and determine the most effective distribution channels to engage that audience. This comprehensive knowledge empowers us to market and sell our offerings with precision and integrity.
We will establish robust distribution arrangements for every product and service in our portfolio, strictly adhering to the guidelines set forth by our manufacturers. This includes selecting partners who align with our brand's values and utilising online platforms that maximize reach and effectiveness.
Our commitment extends to actively monitoring and reviewing our sales practices to ensure that products and services are consistently aligned with the identified target market. We will analyse sales data and customer feedback to confirm that our distribution methods are not only effective but also compliant with industry standards.
Share relevant information with manufacturers to support their review of products and services.
b. Pricing and Value:
We’re committed to providing fair value to our clients through our products and services!
Here’s how we ensure you get exactly that:
We don’t charge any administration fees for our service.
We consider how our commission fee structure might affect our vulnerable customers and take steps to support them.
We share helpful feedback about pricing with our manufacturers and regularly meet with our funders to keep everything in check.
We constantly review our pricing practices to ensure they deliver the value you expect.
c. Consumer Understanding:
We're here to help our customers make informed choices about products and services! We'll provide all the information you need, right when you need it, and we'll make sure it's easy to understand. Your satisfaction is our priority!
We will:
Enhance our customer understanding, ensure our communications are clear and timed effectively for informed decision-making.
Customise messages based on customer characteristics, including vulnerability and the complexity of products or services.
Regularly review and adjust communications to correct any unclear or misleading information.
Clearly display all fees and charges, including ongoing and exit fees, in customer communications.
Highlight relevant protections, such as the Financial Services Compensation Scheme and the right to refer issues to the Financial Ombudsman Service, and specify whether a product is regulated or unregulated.
d. Consumer support
We understand that our customers can achieve their financial goals only when they have the right support to use the products and services they’ve chosen.
To make your experience as smooth as possible, we’re committed to:
Clearly explaining how and when you can reach out for support.
Providing post-sale support that’s just as good as what you received before your purchase.
Being attentive to all customer needs, especially for those facing complex situations or challenges.
Adding helpful steps in the sales process to ensure you have a positive experience.
Making it easy for you to switch to a better product or exit if your current choice isn’t the right fit.
Clearly guiding you on how to share feedback or file a complaint if something goes wrong.
Regularly checking in on our support services to make sure we’re meeting your needs effectively.