To Continue Offering Finance, all Dealers Must Become SAF Approved by the Year End

Used dealers will join franchised dealers who must adhere to this requirement.

The Action Required

All customer-facing staff in a dealership must have passed the SAF Expert test before the dealership can become SAF Approved. This is not a one-off exercise; customer-facing staff need to take the SAF Expert test annually for the dealer to maintain its approved status.

The good news is that the SAF Expert test is free.

What SAF?

Specialist Automotive Finance (SAF) provides knowledge-based motor finance learning to enhance professionalism and increase consumer confidence in motor finance. It was launched by the Finance and Leasing Association (FLA) in 2007.

Being SAF Approved allows dealers to demonstrate they are fully qualified to help customers with their vehicle financing needs.

SAF Expert

SAF Expert is the standard level of learning for staff involved in offering motor finance to customers.  To gain SAF Expert certification, customer-facing staff will need to:

1. Study the SAF training material.
2. Sit a 60 question 60 minute online test and achieve the 75% pass mark.
3. Re-take the test annually to maintain their competence.

SAF Approved

SAF Approved certifies that a dealer has put all of their customer-facing staff involved in providing motor finance information through the SAF Expert test successfully.

The SAF Approval Process

1. Dealers register an account for SAF Expert. Their customer-facing staff are entered into the system and receive login details to take the SAF Expert test.
2. ‘Eligible staff’ figure added– The total number of customer-facing staff at the point of registration was added by the company’s SAF Expert administrator.
3. SAF Expert tests passed—once the number of test passes is equal to or exceeds the ‘eligible staff’ number, the administrator is automatically emailed to say their company can apply to become SAF Approved.
4. Compliance statement completed and returned– the e-mail will contain a compliance statement form, which companies must complete, sign and return to the FLA.  By completing this form, dealer groups agree to have regard to the spirit of the FLA’s Lending Code and ensure they offer finance transparently and fairly.
5. SAF Approved status achieved– a SAF Approved pack is issued to the company in the first year of achieving the accolade to promote to their customers that they are SAF Approved. This contains:

• A trophy
• Certificates
• Stickers
• SAF Expert badges

Source – https://www.specialistautomotivefinance.org.uk/saf-approved/

SAF EquivaIence

If a dealer uses a different vehicle finance training provider with SAF Equivalence status, the provider will manage the process and apply for SAF Equivalence certification on the dealer’s behalf.