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.
