FLA hails success of motor trade finance standards

The Finance & Leasing Association (FLA) has welcomed the support it has received from car dealers over its introduction of finance standards to the motor trade industry.

Since launching its Specialist Automotive Finance (SAF) badge of approval in 2007, almost 400 dealerships have been accredited under the scheme, while 900 have registered for the FLA’s online competence test.

As a result, the FLA believes that motor traders are now significantly more knowledgeable and rigorous on the subject of car finance.

Paul Harrison, head of motor finance at the FLA, expressed his delight with the take-up of a scheme which he states is good for both the industry and for consumers.

He added: “I’d encourage car buyers to seek out the SAF kite-mark in showrooms and ask their local dealership if they have taken the SAF car finance test.”

Last month, the FLA published statistics which suggested that demand for dealer finance among car buyers may be on the increase.

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