FLA promotes motor finance apprenticeships

The Finance & Leasing Association (FLA) has highlighted its motor finance apprenticeship standard during this week’s 12th annual National Apprenticeship Week.

The Government-approved Level 3 apprenticeship standard was launched in 2018, and can be tailored to help both lenders and retailers to employ motor finance specialist apprentices.

In an industry where over 90% of private new car purchases are made using motor finance, an apprenticeship scheme is an ideal way for employers to ensure that their staff acquire the necessary skills and knowledge to advise on the regulated consumer credit products in this market.

The motor finance apprenticeship standard is a great way to see a return on the apprenticeship levy that large firms are required to pay, regardless of whether or not they run an apprenticeship programme.  For small firms, which do not pay the levy, the Government will cover 90% of the set up costs – so this is a win-win scenario.

Adrian Dally, Head of Motor Finance at the FLA, said “For those recruiting into the motor finance industry, the Apprenticeship programme is an ideal way to ensure you are getting the right candidates with the right skills. It has been designed specifically for the motor finance industry, and setting it up is easy, quick and extremely cost effective.”

“The initial feedback from businesses who’ve enrolled is very encouraging, and we look forward to continued success with the scheme in the years ahead”.