Vulnerable Customer Policy

The purpose of our policy

The purpose of this policy is to ensure that the operations of D T Automotives Limited (trading as Demon Tweeks and Tweeks Cycles), do not have any negative impact upon vulnerable customers.

The Financial Conduct Authority (FCA) defines a vulnerable customer as "someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care."

For the purposes of this policy vulnerable customers are customers and prospective customers whose ability or circumstances require us to take extra precautions in the way that we sell our products and provide services, to ensure that they are not disadvantaged in any way.

Recognising consumer vulnerability

When engaging with customers over the phone it is often difficult to identify a vulnerable customer because it is not possible to see many of the characteristics, such as body language and facial expressions, which may identify whether the prospective customer requires additional information and guidance to enable them to make an informed decision. For this reason, it is critically important to listen carefully to all customers and to identify people who may be classed as a vulnerable customer.

Typical telephone characteristics include:

• An inability to hear or understand what is being said
• Repeated questions of a similar nature
• Comments or answers which are inconsistent with the telephone discussion, or which indicate they have not understood the information which has been provided
• Verbal confirmation that they don’t understand or that they require the assistance of somebody else in making a decision.

When engaging with customers face to face the same characteristics are likely to be evident but body language and facial expressions may also assist in identifying the vulnerability.

What happens if a customer is recognised as being vulnerable?

Just because somebody is vulnerable does not automatically mean that they are unsuitable for the products and services we supply. As soon we think we may be engaging with a vulnerable customer we should immediately make a record of the same and ensure we adhere to this policy. When speaking to the vulnerable customer we should:

• Provide additional opportunities for the customer to ask questions about the information we have provided
• We will not rush or hurry a vulnerable customer and allow time to get all the relevant information together.
• Stop of pause a credit application if we believe the customer is not fully aware of what they are entering in to.
• Continuously seek confirmation that they have understood the information that has been provided
• Ask if there is anybody with them who is able to assist them, and offer them the opportunity to have a family member or friend present during the conversation
• Offer them the opportunity to complete the transaction after a period of further consideration

At D T Automotives Limited we will treat all vulnerable customer with respect and integrity.