Experts in Vehicle Finance Compliance

Experts in Vehicle Finance Compliance
Product Partnerships has been helping motor dealerships (large and small) to follow a compliant sales process, receive the correct regulatory training and ensure that they have all the necessary up-to-date compliant policies and procedures since the FCA became responsible for consumer credit in April 2014.

The motor sector has seen increased scrutiny placed on the sale of consumer finance by the FCA over the last seven years and PPL has been at the forefront of helping dealers to become, and remain, compliant.  During this time, PPL has enhanced its on-line compliant sales process to ensure that all customers fully understand the finance products they are taking out and that any risks are highlighted to them.

Motor dealers are provided with an extensive library of regulatory policies and procedures, updated regularly to reflect any changes within the regulatory regime.
Our experienced team helps motor dealers to ensure that all financial promotions are presented in a compliant manner, including conducting regular reviews of client websites, social media and PPC.
A comprehensive suite of regulatory training courses has been developed and is available to all PPL’s customers.  All courses are taken annually, with further courses added as required by changes in regulatory requirements i.e. Senior Managers Regime, Conduct Risk etc.

PPL is here for motor dealers and offers expertise in handling regulated complaints in the correct manner, ensuring compliance with the regulations and achieving appropriate customer outcomes.
PPL’s motor sector customers benefit from regular on-site visits and access to a dedicated Account Manager.  PPL is a real believer that the relationship counts.
Help us to help you remain compliant.

Rowes Garage Ltd., with dealerships throughout Devon and Cornwall, has been a client of PPL since July 2015.  During this time, Rowes has benefited from the ability to take customers through the on-line sale process in a structured way via the PPL platform.  This has enabled Rowes to focus on their key activity of selling vehicles in the knowledge that they are doing so in a fully compliant manner.
All documentation is stored securely within the PPL system for retrieval at any time and to facilitate file checking.  This is available to both the firm and PPL.

PPL carries out regular ‘remote’ file checks to confirm that Rowes is adhering to a compliant sales process.  The file checks are fed back to the Senior Management team and discussed with PPL.  Meetings are held on-site at all outlets twice a year and the team is confident in the knowledge that PPL is only a phone call away. 
All sales staff complete annual regulatory training which is both managed and monitored by PPL.  This ensures that the staff are kept up-to-date with their regulatory knowledge and their responsibilities towards customers.
Management information, including the highlighting of any customer risks, is produced as an output from finance sales recorded in the PPL system and is discussed with the Senior Management team.
PPL meets with the Marketing team, both on site and remotely, to discuss financial promotions and carry out regular reviews of these via formal reports.

All regulatory policies and procedures are reviewed through an annual audit and assistance is provided in completing the firm’s FCA Gabriel (now RegData) return.
One of the key areas that PPL feels is important is the strength of the relationships that have been built with the firm since it came onboard as a client.  Rowes clearly values the relationship too.  Shaun Darby, General Manager said, ‘Working with PPL has been fantastic for Rowes.  I am confident that we will always get the response we need when we require support.  Having regular on-site visits from Duncan adds real value to our business and further enhances a great working relationship’.
If you are a motor sector client and feel your business could also benefit from working with PPL, then please get in touch