Why is SAF and the SAF Competence Test needed?
Independent research shows that the UK motor dealers’ share of the vehicle finance market has been seriously declining over the last three years. Even though some dealerships have eased the decline through a professional approach to finance, the competition from high street and internet lenders has meant that motor dealers as a whole, are currently losing more and more potential income. The regulatory environment has greatly impacted on how motor finance is sold and the level of consumer protection. Staying abreast of regulatory developments is difficult, particularly with the high staff turnover of dealerships. The SAF Competence Test improves individual expertise on finance products and regulation, helping dealers to identify training needs and invest in their staff accordingly. In turn, consumers can be confident that they are dealing with a dealership whose staff have attained the professional standard set by the SAF Competence Test.
