Affordable Finance

 

The hardest part of the buying decision is, not the car; Ford's position as market leader proves that, it's finding the best way to finance your purchase.

Buying a car is one of the biggest financial decisions you will ever make and at Foray Motor Group we truly understand how important it is to get that decision right.

Foray's No.1 partner is Ford Credit, an obvious choice perhaps, but Ford Credit is one of the worlds' biggest automotive finance companies working with customer and dealers where ever on the planet a Ford is sold.

Foray and Ford credit have worked in partnership for 12 years.

Ford Credit has, with us, invested significantly in training and support for our sales executives.

We know our customers want and need to deal with professional, well trained and qualified sales executives.

At Foray we insist on our staff demonstrating integrity, honesty, understanding and commitment to helping our customers make an informed and considered purchase decision.

Every year 85% of our new car and 40% of our used car customers take advantage of our finance facilities.

The vast majority choose Ford Options; a personal contract plan (PCP) that gives great peace of mind and lower monthly payments than a traditional Hire Purchase agreement.

Benefits of Ford Options:-

A minimum guaranteed future value (never worry about part exchange values again) or at the end of the agreement either hand the car back with nothing to pay or Pay the GMFV and keep the car, after all where will you find a one owner, low mileage car at a part exchange price.

All our sales people are required to demonstrate their competency by achieving accreditation with Specialist Automotive Finance (SAF).

Saf logo

Independent research published in 2006 showed that car buyers generally did not fully understand the features and benefits of finance sold in motor dealerships, and that there were mixed perceptions on the quality of finance information given in showrooms.

The research also found that there were no professional standards for dealerships related to the sale of motor finance. The FLA and its members (motor finance companies) thought we could help and introduced Specialist Automotive Finance (SAF) in 2007.

SAF aims to raise professional standards and improve the knowledge of dealership staff involved in selling motor finance. SAF will help to boost the confidence of car buyers on motor finance by providing better information and advice in showrooms on which product is right for them.

Core to SAF is the online SAF competence test which assess' the knowledge of staff on the finance products sold in dealerships, as well as motor finance regulation. When an individual passes the test he/she is awarded a Certificate of SAF Competence Test and becomes a SAF Expert in recognition of their improved standard of knowledge.

Proficiency solutions logo

The Proficiency Competency test was developed for dealer staff after the introduction of the Consumer Credit Directive (CCD) on 1st February 2011.

The CCD was adopted by the European Council in May 2008 with the aim of establishing a harmonised set of rules within core areas of the credit market among EU member states.

Its implementation is designed to ensure that a high level of consumer protection applies across Europe and to help improve consumer confidence and understanding of credit products and assist individuals in making the right decision when it comes to taking out unsecured credit.

Unsecured credit refers to any lending product, such as a personal loan or credit card, where the lender does not have a charge on an asset belonging to the borrower in case he or she defaults on repayments. The most common asset used for security in this way is a borrower's house - the lender could potentially repossess the property if the borrower falls behind in their repayments. Secured lending products aren't covered by the CCD.

From 1 February 2011, providers offering any form of unsecured credit will have to adhere to the new rules, although some started implementing the changes earlier.

Foray Sales staff completes both competency tests annually and no member of staff is allowed to offer finance and insurance products until an internal FSA competency test is completed as part of our 2 week induction process.