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FLA steps up POS finance fightback

Automotive lenders are stepping up their efforts to win more point-of-sale business with the launch on August 1 of Specialist Automotive Finance Approved.

This will be awarded to dealerships whose entire staffs have successfully completed the Finance and Leasing Association’s free online competence test.

SAF Approved dealerships can display a plaque and use SAF material in showrooms and in local advertising to attract potential customers.

Amy Evans, FLA marketing and policy adviser, said: “Car buyers will become aware of the quality of the employees and we will rely on dealers to play their part in getting the message across.

“This autumn we will launch a directory on our consumer website so that people seeking finance can easily find dealerships where staff are reliable and knowledgeable.”

SAF, launched in 2007, has more than 6,200 people and 530 dealerships registered for its competence test.

Many of the top 20 dealer groups are committed to continue support and motor retailers now account for more than 50% of car finance.

The SAF competence test has been further developed in recent weeks.

Two websites, www.specialistautomotivefinance.org.uk (the industry site) and www.FinancingYourCar.org.uk (for consumers) will be relaunched after being made easier to use.

The directory will be located on www.FinancingYourCar.org.uk and SAF test reference material to help prepare staff for the test is updated to reflect legislative changes.

The SAF test consists of 40 multiple choice questions and should not take more than 40 minutes to complete. It covers all products that can be offered in the showroom.

Access is via (www.SpecialistAutomotiveFinance.org.uk).

The test needs to be taken annually so dealership employees are aware of industry changes, and the FLA keeps a check. 

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