At Online Motor Group Ltd T/A NewCarsOnline.co.uk 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, Online Motor Group Ltd T/A NewCarsOnline.co.uk 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 principle of Treating Customers Fairly (TCF), introduced by the Financial Conduct Authority (FCA), is designed to ensure that consumers in the financial services sector are treated with fairness and respect. Its core objective is to enhance industry standards by setting clear outcomes that safeguard consumer interests and boost public confidence in financial institutions.
TCF is fundamental to fostering a culture of trust, openness, and responsibility within the financial sector. By adopting TCF values, firms can enhance customer experiences, foster loyalty, and clearly show that the interests of clients are central to their operations. This approach not only serves customers well but also helps to uphold the credibility and ethical standing of the industry as a whole.
To monitor adherence to TCF standards, the FCA conducts ongoing oversight through a variety of supervisory actions. These include evaluating firms’ risk management, performing inspections, and reviewing internal policies and practices. If a firm is found to be falling short, the FCA has the power to impose penalties, sanctions, or other corrective actions to enforce proper treatment of customers.
Outcome 1
Customers should feel assured that they are engaging with companies that place fairness and respect for their clients at the heart of everything they do, making it a core part of their business values and daily operations.
Outcome 2
Products and services offered in the retail market are carefully tailored to address the specific needs of distinct consumer segments, ensuring they are appropriately targeted to the right audience.
Outcome 3
When consumers seek advice, it is tailored to their individual circumstances, ensuring that the recommendations are appropriate and relevant to their needs.
Outcome 4
Consumers receive products that meet the expectations set by the firm, with the accompanying services also maintaining an acceptable standard as promised.
At NewCarsOnline, we are committed to integrating TCF (Treating Customers Fairly) into the core of our business. We continuously work to enhance our practices to ensure our customers receive fair treatment. We have outlined how we align with each TCF outcome, demonstrating our dedication to meeting the highest standards of fairness in customer interactions.
Our customer centric culture is at the heart of NewCarsOnline, with fair treatment serving as the cornerstone of everything we do. We recognise that customer satisfaction and trust are essential to our success, so we go the extra mile to meet their needs. Here’s how we ensure fairness is central to our culture:
Clear Communication: We ensure that every customer interaction is transparent, using simple, jargon-free language to empower customers to make informed decisions.
Personalized Approach: We take the time to understand each customer's unique situation, tailoring our products and services to meet their specific needs.
Employee Training: We equip our team members with the training and authority to prioritize fair treatment and resolve issues promptly and effectively.
Customer Feedback: We actively seek feedback through surveys and reviews to constantly refine our products, services, and processes.
Complaint Handling: Customer complaints are treated with utmost importance, and we have a robust, transparent system to ensure fair and swift resolution.
Vulnerable Customers: We identify and provide additional support to vulnerable customers, ensuring that their needs are met appropriately.
Continuous Improvement: We regularly review our practices to ensure they stay aligned with customer needs, regulatory standards, and industry best practices.
We focus on offering products and services that cater to the diverse needs of our customers. Understanding that every customer has different requirements, we work to provide tailored solutions. Here’s how we approach this:
Customer Research: We conduct in-depth research, including surveys and focus groups, to understand the needs of different customer groups, shaping our product development.
Market Monitoring: We keep a close eye on market trends, industry developments, and competitors to ensure our customers receive value for their money.
Customisation Options: We offer flexibility, allowing customers to customise products and services to meet their specific needs.
Ongoing Feedback: Throughout the product lifecycle, we gather customer feedback via surveys and beta programs to improve our offerings.
After-Sales Support: We provide essential after-sales information, such as contract reminders, updates, and advice on additional services.
Regulatory Compliance: We ensure our products comply with all relevant regulations, protecting our customers’ rights and interests.
At NewCarsOnline, we are committed to always upholding the principles of fairness, transparency, and customer satisfaction, ensuring that our customers are treated with the respect and care they deserve.