7 March 2019
FLA promotes the Motor Finance Apprenticeship Standard during Apprenticeship Week
The Finance & Leasing Association (FLA) will be using its extensive network of industry contacts to promote its motor finance apprenticeship standard during the 12th annual National Apprenticeship Week, from 4 – 8 March 2019.
The Government-approved Level 3 apprenticeship standard was launched in 2018, and can be tailored to help both lenders and retailers to employ motor finance specialist apprentices.
In an industry where over 90% of private new car purchases are made using motor finance, an apprenticeship scheme is an ideal way for employers to ensure that their staff acquire the necessary skills and knowledge to advise on the regulated consumer credit products in this market.
Setting up the apprenticeship programme is easy and quick – just contact the training provider through the FLA’s website, decide if you want them to tailor certain modules in the apprenticeship standard to suit your business, then let the trainer get on with advertising the apprenticeship roles, screening the applicants and presenting you with a panel of credible candidates to interview for your positions.
The motor finance apprenticeship standard is a great way to see a return on the apprenticeship levy that large firms are required to pay, regardless of whether or not they run an apprenticeship programme. For small firms, which do not pay the levy, the Government will cover 90% of the set up costs – so this is a win-win scenario.
Adrian Dally, Head of Motor Finance at the FLA, said:
“For those recruiting into the motor finance industry, the Apprenticeship programme is an ideal way to ensure you are getting the right candidates with the right skills. It has been designed specifically for the motor finance industry, and setting it up is easy, quick and extremely cost effective.
“The initial feedback from businesses who’ve enrolled is very encouraging, and we look forward to continued success with the scheme in the years ahead”.
Note to editors
1. You can find more information on the motor finance apprenticeship on the FLA website,
2. Case studies outlining the benefit of the apprenticeship to firms and the apprentices themselves can be found on https://www.specialistautomotivefinance.org.uk/news/
3. In 2018, FLA members provided £137 billion of new finance to UK businesses and households. £104 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2018. £46 billion of it supported the purchase of new and used cars, including over 91% of private new car registrations.
4. For media enquiries, please contact the FLA press office on 020 7420 9656.