The Association of Vehicle Finance Brokers, which has already grown to 50 members, aims to raise standards in the industry.
Welcoming the new association, George Grant, managing director of Bank of Scotland Vehicle Finance, which operates a fleet of 92,000 vehicles, said: 'I welcome the introduction of a kite mark endorsement of quality standards that would bring credibility to those receiving it.'
Grant, whose Edinburgh-based company receives a significant proportion of its business through its broker network, said it was up to the industry to ensure that best practice was implemented, as the fleet industry had not been subject to the same degree of regulation that other industries had witnessed.
Saul Parsonson, managing director of Lombard's vehicle leasing arm, which works with a network of more than 150 brokers, said: 'We would support any initiative that enhances the reputation of the Introducer sector. '
The new association is trying to improve standards, increase professionalism, introduce a code of practice and encourage professional indemnity insurance – these are all positive moves and by achieving this, the association will place us in a stronger position in the industry.'