THE FINANCE AND LEASING ASSOCIATION : 'SAF APPROVED' TO AWARD PROFESSIONAL DEALERSHIPS

'SAF APPROVED' TO AWARD PROFESSIONAL DEALERSHIPS

News Release

23 July 2009 For immediate release

'SAF APPROVED' TO AWARD PROFESSIONAL DEALERSHIPS

From 1 August, the Finance and Leasing Association (FLA) will award motor dealerships with improved professional standards on the sale of finance to car buyers.

The FLA - the representative body for the motor finance industry - is extending its Specialist Automotive Finance (SAF) initiative to recognise dealerships who have voluntarily improved the standards and knowledge of showroom staff who discuss finance with customers. SAF-certification has been available to individual staff since October 2007 via the FLA's online SAF competence test'SAF Approved' status will now extend SAF-certification to dealerships and dealer groups.

SAF Approved will be a real advantage for dealerships and car buyers alike. Dealership staff will benefit from the latest information on finance products which will increase their knowledge and ability to guide car buyers to the product that best meets their needs. Those dealerships that meet the FLA's criteria to become SAF Approved are also entitled to use SAF material in showrooms and in local advertising to help promote finance to potential customers. Car buyers will benefit from improved information and guidance on motor finance which will help to increase their confidence in the showroom experience.  

Paul Harrison, Head of Motor Finance at the FLA, said:

'SAF Approved will recognise those dealerships that are committed to raising their standards of knowledge for the benefit of car buyers. Dealers that meet the FLA's eligibility criteria for SAF Approved will benefit from the use of point-of-sale materials to help promote finance. SAF has also been welcomed by regulatory bodies as it helps provide customers with reliable information on their finance options. We hope car buyers will seek out SAF Approved dealers.'

The FLA has worked closely with dealerships throughout the development of the initiative. 15 of the top 20 dealer groups are registered for SAF and are anticipating the launch of SAF Approved from 1 August.

Sue Robinson, Director of the Retail Motor Industry Federation (RMIF), said:

'The SAF scheme should have a positive impact on the sale of finance in car dealer showrooms, while at the same time providing recognition for the standard of care provided by dealer staff in this area. This is good for consumers, and good for dealers, and the RMIF fully supports the initiative.'  

Recognising that SAF benefits employees and customers, Peter Stewart, Director of Business Development for Vertu Motors, said:

'SAF has benefited our colleagues by giving them knowledge and confidence when discussing finance requirements with customers. Our customers benefit by knowing that any sales person they deal with in our company well-informed on finance. At Vertu we are dedicated to training and improving our knowledge.  We would recommend SAF Approved as an easy to use system with real benefits.'

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Note to editors:

Specialist Automotive Finance (SAF) was launched by the FLA in June 2007 at the AutoRetailing Conference. SAF aims to raise consumer awareness of finance sold in dealerships by raising standards and improve skills amongst dealership staff.

Central to SAF is the FLA's online competence test, launched to dealers in October 2007. The competence test is a free-of-charge assessment 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.

As part of SAF, the FLA has also developed an impartial consumer guide to motor finance - www.FinancingYourCar.org.ukThe web site helps potential car buyers to review all of the options available in showrooms to help them purchase their next car, all from the comfort of their own home.

www.SpecialistAutomotiveFinance.org.uk is the SAF portal for the industry to help companies learn more about the initiative.

There are currently 6500 individuals registered for the online SAF competence test, across 530 dealerships.

SAF is fully endorsed by the motor finance industry and is funded by FLA member finance companies. 

For further media information, please contact:

Russell Hamblin-Boone, FLA T: 020 7420 9656 E: russell.hamblin-boone@fla.org.uk M: 07810 374110

Helen Saxon, FLA T: 020 7420 9664 E: helen.saxon@fla.org.uk M: 07918 766 993

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