11:10 am, December 18, 2008
IMPROVING skills of car dealers will be key to how operations fare in the downturn, says the FLA.
The advice comes as it reports on the success of its Specialist Automotive Finance initiative, launched last year.
Selling finance well is becoming increasingly important, says the FLA. Nearly 53 per cent of private buyers have bought a car using dealer finance – up from 46 per cent a year ago.
The credit crunch means sourcing it is harder, which is why car buyers are turning to dealers. The SAF test is thus seen as a core competency for the industry.
Paul Harrison, head of motor finance at the FLA, said: ‘The improved professional standards provided by SAF will help make sure consumers are given the most appropriate information available.
‘Raising consumer awareness of the finance options in the showroom, and their benefits, could make a big difference for dealers in current market conditions.’
More information on the SAF test can be found here.
