Specialist Automotive Finance (SAF), an initiative from the Finance and Leasing Association (FLA), has had 5,800 dealers and finance company representatives register for its online competence test in its first full year in operation.
Reference material, which helps people prepare for the SAF test, has been updated to reflect regulatory changes including amendments to the Consumer Credit Act.
The assessment is designed to be retaken annually to make sure candidates remain on top of the latest industry changes.
Paul Harrison, head of motor finance at the FLA, said: “The improved professional standards provided by SAF will help make sure consumers are given the most appropriate information available.
“Raising consumer awareness of the finance options in the showroom and their benefits could make a big difference for dealers in current market conditions.”