The
Finance and Leasing Association revealed that they would launch
a new initiative to aid its members to make point-of sale
motor finance sales. Speaking from a convention held at the
National Motorcycle Museum, the FLA also revealed new research by
Trend
Tracker Ltd. and NOP
Automotive .
Consumer confidence in point of sale
car finance has been knocked somewhat of late by repeated
claims from many sectors that the products do not offer value
for
money .
Banks and price comparison websites have highlighted the
potential
savings that borrowers could make by
shopping around.
The FLA will launch a set of transferable professional
qualifications in
vehicle finance sales. The FLA will also regulate the industry
with a member’s code, including a document called
‘Guidance Notes for
Motor Dealerships.’ Furthermore, they have developed a
website called financingyourcar with the aim of providing
impartial guidance.
Experts in the
car finance industry welcomed the approach.
