Enhancing compliance with new e-learning modules

Members need to maintain their compliance with the FLA’s lending code by undertaking courses through approved suppliers that meet SAF standards. The BVRLA has SAF Expert Equivalence Status for its e-learning modules so 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.

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.

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 will shortly launch 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.

BVRLA Specialist Automotive Finance (SAF) Expert