News
Industry kite-mark to boost car buyer confidence
Thousands of car buyers across the country can now be more confident when taking up motor finance, after one of the UK’s largest motor dealer groups became recognised by a finance industry competence programme.
Ford Retail is the latest group to become recognised as SAF Approved by the Finance & Leasing Association (FLA). The certification, which raises dealer staff knowledge on motor finance, comes just in time for the busiest month of the year for the motor industry, particularly with many buyers awaiting release of the new 10 number plate on 1 March.
Paul Harrison, Head of Motor Finance at the FLA, said:
“The Specialist Automotive Finance (SAF) programme helps boost customer confidence in finance sold in showrooms by ensuring dealership staff have studied and passed a finance competence test. SAF-certification recognises the on-the-job training staff have received in selling finance and improves their overall finance knowledge for the benefit of car buyers.
“As the representative body for motor finance providers, the FLA recognised back in 2007 there was a need to set a kite-mark for motor finance, to give customers confidence that they are receiving sound advice about the best way to pay for their car. We began with the SAF certification for individuals and last year extended to SAF Approved to recognise dealerships, dealer groups and finance companies.
“There are now 7,725 individuals registered for the online competence test, across more than 700 motor finance providers and retailers. The addition of Ford Retail means that seven of the UK’s top 20 dealer groups are now SAF Approved.
“For the 250,000 customers visiting Ford dealerships every year, this certification should reassure them that they are receiving sound advice about car finance. I would encourage anyone about to purchase a car to look out for the SAF Approved certification.”
Alan Maloney, Head of Finance and Insurance at Ford Retail Group, said:
“I am delighted that all of our 42 UK dealerships, and Ford Retail as a group, are now SAF Approved. Providing our specialist Business Managers with training in complex aspects of business such as motor finance ensures they have the competence and skills to provide the best finance advice to our customers. It’s important that our franchised dealerships help raise our customers’ awareness of the financial products available to them and the FLA's SAF Approved initiative has helped us to achieve this goal.”
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Note to editors: ·
- Specialist Automotive Finance (SAF) is a free-of-charge online competence test covering the finance products sold in showrooms and the surrounding regulation. The test does not teach staff how to sell finance but aims to improve their overall finance knowledge. To remain SAF-certified, individual staff must renew the test every 12 months. There are currently 7725 individuals registered for the online SAF competence test across 711 Finance Companies/Dealerships/dealer groups.
- On 1 August 2009, the FLA extended SAF-certification for individuals to companies with SAF Approved. SAF Approved recognises motor dealerships, dealer groups and finance companies who have voluntarily raised the standard of their employees knowledge on motor finance for the benefit of car buyers. There are 471 SAF Approved Dealers nationwide and 7 out of the top 20 dealer groups are SAF Approved.
- As part of SAF, the FLA has also developed an impartial consumer guide to motor finance – www.FinancingYourCar.org.uk. The web site helps would-be car buyers to review all of the options available in showrooms to help them fund their next car purchase, before entering a showroom.
- www.SpecialistAutomotiveFinance.org.uk is the SAF portal for the industry to help companies learn more about the initiative.
- SAF is fully endorsed by the motor finance industry and is funded by FLA member finance companies.
For further information, please contact:
Jacqui McClure, FLA
T: 020 7420 9668 E: jacqui.mcclure@fla.org.uk