Members are required to maintain their compliance with the Finance and Leasing Association (FLA)’s lending code by undertaking courses through approved suppliers that meet Specialist Automotive Finance (SAF) standards. SAF is an accreditation program aimed at improving the knowledge and competence of those who sell automotive finance products.
The BVRLA has SAF Expert Equivalence Status for its e-learning modules and can support members in meeting those requirements. The code states that all customer-facing staff selling and advising on consumer vehicle finance must be competent and evidence this competence annually.
In line with the association’s commitments to its membership as an FLA-approved SAF training provider, the BVRLA is continuously reviewing and updating training materials.
The association has recently launched three further new e-learning modules providing overviews of the main 'Purchase' products; Hire Purchase, PCP and Lease Purchase. As with all of the association’s compliance training materials, they are specifically designed to support members in the leasing sector.
Upgrade any existing Essentials e-learning package your firm may have with the BVRLA to the 'SAF Expert Essentials' with just one upgrade cost of £15 + VAT per user. The upgrade contains modules on; Personal Contract Hire (PCH), Finance Lease (FL), Business Contract Hire (BCH) plus the three modules mentioned above.
The FLA’s Lending Code – which all Motor Finance Division members sign as condition of membership – requires the provision of finance exclusively through brokers or dealers who are SAF or Equivalent Approved. Therefore, if staff are not appropriately SAF trained, funding could be removed.
Sign up to Essentials + SAF upgrade or email [email protected] with any queries.
