FLA accreditation scheme for dealer car finance

Fri, 10 Nov 2006



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.
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