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by Marsh Finance on Aug 13, 2024 4:19:30 PM
What Is The SAF?
The Specialist Automotive Finance (SAF) course provides knowledge-based training to boost professionalism and increase consumer confidence in motor finance.
The Finance & Leasing Association (FLA) launched SAF in 2007, which recently expanded to create a learning pathway for staff at all career levels. There are a variety of training levels available depending on where the individual is in their career.
What Are The Levels?
SAF Essentials
SAF Essentials are easy-to-read FAQ sheets designed for individuals new to the industry. They help provide a basic understanding of motor finance, motor finance products and FCA regulations.
The learning is designed to:
Provide basic knowledge to all staff that have started a customer-facing role.
Give staff not involved in selling motor finance products some basic knowledge about them.
SAF Expert
SAF expert is the standard level of learning for all staff involved in motor finance sales, previously known as the “SAF competency test”.
The course helps learners reach an intermediate level of knowledge in 9 different motor finance products used by customers to buy or lease vehicles. Learners will also learn fundamental FCA principles and rules for the sale, including other essential regulations relating to unfair trading practices (UFP) and anti-money laundering measures.
A 60-minute assessment containing 60 questions must be sat at the end of the study period.
SAF Advanced
The SAF Advanced certification is perfect for individuals who have already completed the SAF Expert accreditation. SAF Advanced is the only level-3 (A -level equivalent) professional qualification dedicated to motor finance. This course provides a natural progression from SAF Expert and will help industry staff who want further knowledge on how the world of motor finance works!
The SAF Advanced assessment includes a two-hour exam split into three core units.
SAF Approved
The SAF Approved programme recognises companies whose customer-facing staff have passed the SAF Expert certification. This initiative primarily helps dealer groups but can be achieved by lenders or brokers too!
How Does Achieving The SAF Approved Accreditation Help Your Business?
You’ll be added to the ‘Financing Your Car’ dealer directory – meaning that you may receive new customer leads.
You are awarded a trophy and certificates for use in marketing materials.
You’ll receive recognition for your organisation’s professional standards to your customers and other businesses.
Why Is SAF Training Important In The Motor Finance Industry?
The FCA’s recent motor finance findings demonstrate how investment in training leads to consumers receiving better information and more satisfying outcomes. Commitment towards skills development also helps further careers within the industry and increases the number of industry innovations that we all benefit from.
At Marsh Finance, we help you make sense of the complex compliance and regulatory requirements within the motor finance industry. We offer a free compliance and operational efficiencies consultancy service to all partners – helping you stay one step ahead.
For more information on how to become a Marsh MVP, contact us today!