Treating Customers Fairly

DCMD Ltd T/A VehicleSavers Policy

Our customers are the centre of everything we do here at DCMD Ltd T/A VehicleSavers. Treating all our customers fairly is a culture which is essential to our day to day operations but which is compulsory for the long-term growth and development of our vehicle leasing brokerage. The whole team here at VehicleSavers consistently strive to exceed our customers’ expectations in every aspect of the process from original contact to delivering the new Vehicle and thereafter.

VehicleSavers believe that the UK’s Financial Conduct Authority (FCA) Treating Customers Fairly (TCF) principles not only complements our existing approach; it encourages us to continually monitor, assess and evolve in a changing environment where a customer’s needs and interests must be met.  

This policy outlines how we embed the Financial Conduct Authority’s (FCA) Treating Customers Fairly (TCF) principles into our day-to-day operations.

FCA’s Six TCF Outcomes

We fully support and adopt the six consumer outcomes defined by the FCA:
1. Customers can be confident that fair treatment is central to our culture.
2. Our vehicle leasing products are designed to meet the needs of identified customer groups and are targeted accordingly.
3. Customers receive clear, accurate, and timely information before, during, and after the point of sale.
4. Where advice is provided, it is suitable, considering the customer’s individual circumstances and requirements.
5. Products perform as expected and services meet the standards we have led customers to expect.
6. Customers do not face unreasonable barriers to change products, make a complaint, or switch providers.

Our Commitments

To ensure we deliver these outcomes, we commit to:
- Transparent communication – Providing accurate and jargon-free information about leasing options, costs, and responsibilities.
- Clear pricing & commission disclosure – Explaining all fees, charges, and any commissions we receive in a clear and open manner.
- Needs-based recommendations – Assessing customer needs to recommend suitable leasing options without bias.
- Accessible complaint handling – Offering a straightforward process for raising and resolving complaints.
- Ongoing support – Assisting customers before, during, and after the lease agreement, including at vehicle handback.
- Vulnerable customers – Identifying and supporting customers with additional needs to ensure fair outcomes.
- Training & monitoring – Ensuring staff are trained to uphold TCF standards, with regular monitoring and compliance reviews.

Consumer Duty & Defining a ‘good customer outcome’

Introduced by the Financial Conduct Authority in 2023, the Consumer Duty sets a higher expectation for the standard of care that firms give customers. Firms are required to comply with the Duty's cross-cutting rules by acting in good faith towards customers, avoiding causing foreseeable harm to customers and enabling and supporting customers to pursue their financial objectives.

DCMD Ltd T/A Vehiclesavers target market is categorised as Retail Customers with the following common traits:

As an introducing broker we are responsible for arranging and introducing the customer to the product i.e. the finance agreement. We also source vehicles from one of our approved supplying dealers. Our target market is typically financially stable, credit worthy middle to high income earners who are either in their own or rented accommodation. As such we believe are (unlikely to present a specific vulnerability. We accept all customers are susceptible to event driven vulnerabilities”)

The financial objective of the client is to find a suitable finance product that enables them to lease, a vehicle. Our Sales process is such that we can guide and support a consumer towards their objects of leasing a vehicle in a way that is suitable to their needs.

In our sales process we will seek to identify any likely consumer vulnerabilities such as the inability to understand, read, communicate, or any financial or affordability issues. We seek to identify vulnerability/ affordability concerns though our customer qualification process.

A good customer outcome is one where a client/consumer proceeds with full understanding regarding the nature of the product (financial product i.e., a Personal Contract Hire Agreement) and the specifics of leasing or purchasing a vehicle. In addition to this this customer receives a vehicle that is suitable for their needs. We endeavour to validate positive customer outcomes through our customer feedback survey.

In order to achieve good customer outcomes, we adhere to the following:

Cross Cutting Rules

DCMD Ltd T/A Vehiclesavers recognises that delivering good customer outcomes will be achieved through adhering to the three cross-cutting rules of Consumer Duty which are to:

·         Act in good faith towards retail customers.
·         Avoid foreseeable harm to retail customers; and
·         Enable and support retail customers to pursue their financial objectives.

Consumer Outcomes

DCMD Ltd T/A Vehiclesavers will ensure that it adheres to the four Consumer Duty Outcomes, which are:

1. Products and Services:

We will ensure that the products and services we distribute meet the needs, characteristics and objectives of our customers and perform as they are expected to.
As a distributor of products and services we will:
·         Understand the features, benefits and limitations of the products and services we distribute, along with who the target market is and what the distribution channels are, to enable us to sell them in an appropriate and correct manner. Therefore, we must make sure that we have obtained all the information we need to fully understand and appropriately sell them to consumers.
·         Have appropriate distribution arrangements in place for each product and service that we distribute, which will be in line with guidelines set out by the manufacturer.
·         Monitor and review how products and services are being sold to make sure that they are being sold to the identified target market and are distributed in the correct way.
·         Share relevant information with manufacturers to support their review of products and services. 

2. Pricing and Value:

We will ensure that the products and services that we distribute offer fair value for clients.

We will ensure that:
·         Fees are fair and proportionate to the cost of providing or delivering the product or service and that we can justify the value of the fees we charge. We ensure that we explain clearly in our initial disclosure document our upfront fees and remuneration. This is also clearly advised in the customer order forms.
·         We review whether there are other charges levied throughout the distribution chain which might mean that the overall cost of the product or service does not provide fair value to the customer.
·         We consider whether vulnerable customers may suffer harm as a result of the way that our fees are structured. This is identified via our customer harm assessment which is documented and vulnerability checks – see our vulnerability policy.
·         All fees and charges applicable to our products and services are clearly and fully communicated to customers at point of enquire, on the website, the IDD, quote, and order from and through discussion/ qualification with our staff. 

3. Consumer Understanding:

We will ensure that we support our customers by helping them to make informed decisions about products and services. Customers will be given the information they need, at the right time and presented in a way that they can understand.

We will:
·         Support our customer’s understanding by making sure that our communications are likely to be understood by our “average” customer and are provided at the right time, so that they can make properly informed and timely decisions.
·         Tailor communications, taking into account the characteristics of the customers who we intend to receive these communications, including customers with characteristics of vulnerability, the complexity of the product or service and the manner in which the information will be communicated.
·         Monitor, test and adapt communications on a regular basis and make sure that where information is unclear, misleading or incorrect, that action is taken to amend them.
·         Review any actions take in relation to customer communications to make sure that these changes achieve the required outcomes.
·         Make sure that all fees and charges, including any ongoing charges or exit charges, are clear and prominent in communications with customers.
·         Make sure that the protections applicable to products and services or customers, such as the Financial Services Compensation Scheme protection and right of referral to the Financial Ombudsman Service are clearly highlighted.
·         Be clear about whether a product is regulated or unregulated. 

4. Consumer support

We recognise that customers can only pursue their financial objectives when we provide them with the level of support, they need to use the product or service they have bought.

We will provide customers with support channels which allows them to use products and services as expected and enjoy their benefits. This includes:
·         Making how and when customers can access support clear to them.
·         Providing post-sale support that is as good as pre-sale support.
·         Meeting customer’s needs, including accommodating customers who are dealing with complex issues, or those who are vulnerable.
·         Including appropriate “friction” points in the sales process which can mitigate the risk of harm to a customer and result in good outcomes.
·         If a product or service is no longer suitable for customers, make it easy for them to switch to another product or exit.
·         Being clear about how they can make a complaint when things go wrong.
·         Carrying out reviews of customer support levels on a regular basis and addressing any issues identified in a timely manner.
·         Reviewing any actions take in relation to customer support to make sure that these changes achieve the required outcomes.

Complaints Handling

We aim to resolve complaints promptly and fairly in line with FCA and Financial Ombudsman Service (FOS) guidelines. Our complaints procedure is:
1. Acknowledge the complaint promptly.
2. Investigate fairly and transparently.
3. Provide a clear response and resolution.
4. Inform the customer of their right to escalate to the FOS if dissatisfied.

Governance & Monitoring

- The Directors are responsible for embedding TCF throughout the business.
- Regular reviews, audits, and customer feedback are used to ensure compliance with FCA principles.
- Any conflicts of interest are managed openly and fairly.

Staff Incentives

We ensure that any incentives for our sales team are designed to meet our clients’ needs with TCF (treating customers fairly) at the heart of them.
1. Our sales team are rewarded after the vehicle has been delivered, rather than at the point of order.
2. Our sales team are not incentivised to sell one product over another.
3. Our sales team are not incentivised to offer the services of one lender over another.

Vulnerable Customers

DCMD Ltd are committed to treating all customers fairly and in line with this we have a policy on Vulnerability. Our policy sets out guidance for our staff around vulnerability to ensure we act with appropriate levels of care for any customers who are identified as being vulnerable. Please email our compliance manager directly should you wish for further information or wish to see a copy of our policy – donna@vehiclesavers.com

At DCMD Ltd T/A Vehiclesavers, Treating Customers Fairly is more than a regulatory requirement—it is central to how we do business. By embedding fairness across our culture, systems, and processes, we ensure our customers receive the highest standard of service throughout their leasing journey.