The Finance and Leasing Association have planned a series of initiatives to help car finance lenders prepare for 2010 challenges and sustain the economic recovery heralded by strong car sales and car finance sales during December. The FLA released a timetable of their plans to sustain the motor industry recovery. During April, a forum will be held about the used car market. Industry experts will discuss used car values and the demand for some vehicles .

The Consumer Credit Directive is also due to be implemented this year, and finance providers must prepare for new regulations. The FLA will help with this by running a series of workshops. The 7th Annual Motor Finance Convention will be held on the 10th November.

The head of motor finance at the FLA, Paul Harrison, reportedly said: 2009 was a tough year for many motor finance companies, and 2010 promises to be equally challenging with a change of Government and the Consumer Credit Directive just around the corner. At the FLA we can’t deliver customers for our members, but we can help them prepare for future changes and adapt in a fiercely competitive marketplace. We recognise the value of sharing best practice and learning from the experience of others. That is why we have developed a programme of events that adds value to all areas of the motor finance sector . We are coupling this with renewed efforts to lobby the Government and the regulators for fair and proportionate regulation.