Job Placement Assistance With Automotive Dealership Institute

America’s love affair with the automobile and the open road makes jobs at car dealerships excellent options for those who want to find a stable career that will allow them to grow, learn, and make a good income. Detroit Auto News reports that car sales in 2018 surpassed expectations, hitting higher numbers than 2017 saw. This means this a fantastic opportunity to get into the field of car buying and selling.

Within this industry, one of the most exciting and interesting fields is that of finance and insurance. This job combines knowledge and passion for cars with finance, creating a job that focuses on relationships with customers and having a direct impact on the business’s bottom line.

When you work in finance and insurance at an auto dealer, you help customers understand their financing options and select the one that will help them purchase the vehicle of their choice. You will be responsible for tasks such as understanding the financing process, completing applications, determining payment amounts, and filling out the sales contracts.

This job is irreplaceable in the world of car buying. Most car dealerships actually make very little from the purchase of a single car. The money comes from financing options that people set up to afford their new car. This means that the work you do will have a tremendous impact on the success of the dealership as a whole.

What would I do while working in finance at a car dealership?

Remember that car dealers largely earn their money from the loans that they issue to customers. These loans make it possible for people to buy the car they like, and they also generate most of the income for the dealership. The more interest you can help your dealership collect, the more money your business will make, allowing it to grow.

In your role, you will generally link together the customers and the dealership with the finance corporations who administer the loan. You will collect information such as credit scores and applications and use the information to calculate payments and terms for the customer. You will have the job of helping customers afford their car and the dealership generate income.

You will work to create the most profitable deal possible. You will try to convince customers going through the financing process to use your in-house options, as this will be the most profitable for your organization. You will also encourage customers to consider potential add-ons, such as paint protection or an extended service contract. These extras help the customers get their dream car, while also generating additional come for the business.

This hard work can earn you a good salary in many areas. According to the Bureau of Labor Statistics, loan officers who work at automobile dealerships earn a median wage of $45.98 per hour, which works out to $95,630 per year. This will vary depending upon factors such as your experience and where you live. Many auto dealers also offer incentives or additional pay based on commission, which means that the harder you work, the more you can potentially earn.

When you enter the field after obtaining your certification from the Automotive Dealership Institute, however, you will have the insight and knowledge you know to excel quickly and reach the top of your field. This will lift you up to the highest income potential within the industry. Many of our graduates earn more than $100,000 each year.

Why choose the Automotive Dealership Institute?

The Automotive Dealership Institute has been the nation’s only licensed Finance and Insurance School for over three decades. This has made us an outstanding choice for those who want to work in the field. For veterans who will use the Post 9/11 GI Bill to help pay for their education, this licensing means that this is the only Finance and Insurance School that can be paid for with this bill.

Our years of experience have taught us what people need to know to have a successful career in finance at car dealerships, and we will help you get there. Our classes have been designed with real world experience in mind, teaching students precisely how to thrive in this field.

Over the years, we have developed a reputation for excellence. This has allowed us to nurture relationships with dealerships across the nation. Our students have the chance to listen to guest speakers from these dealerships and go through job interviews right on site.

How does our job placement program work?

Receiving a fantastic education is only the first step to solving the problem of quality job placement. In addition to having the knowledge needed to perform a job, people must also figure out how to get a job within their chosen industry.

Finding a job is never an easy task. You must learn how to advertise and promote yourself to prospective employers. You have to make a good impression and show them why you would be a better fit for the job than all of the other resumes that come across their desk. This is why we established our job placement program.

Our dedication to our students also extends far beyond the classroom. Our goal is to get you placed with an outstanding career. That is why our advisers offer job placement assistance whether you graduated a few days ago or a few years ago. You can receive help preparing your resume, going through practice interviews, and getting assistance finding a quality job placement. It is this dedication that leads to a 90 percent placement rate within three months of graduation. Our outstanding courses and dedication to our students helps to ensure that our graduates get positions within their chosen field.

Is the Automotive Dealership Institute Right for Veterans?

Many of our veterans retiring from the armed services need jobs that help them transition back into civilian life. We want to help our veterans find jobs that will help them thrive. Since an education at the Finance and Insurance School of the Automotive Dealership Institute can be covered by the Post 9/11 GI bill, this educational opportunity can be fantastic for veterans.

The amount of money you can secure through the GI Bill will vary based on your time in service. As long as you spent at least 30 days in service since September 11, 2001, you will qualify for some coverage. The longer you spent in service, however, the greater coverage you will be eligible for. Twelve months, for example, will get you 60 percent of your costs covered, whereas 36 months gets you 100 percent.

Not only does the GI bill help cover class costs, but you can also receive help with moving costs, book fees, and even a living stipend, depending upon the exact terms of your personal coverage. Those who want to use their GI Bill to cover school costs, such as those at the Automotive Dealership Institute, should investigate their exact terms for their use of the GI Bill.

Given the high salary potential for those who work in finance at car dealerships, using the GI Bill to cover this education can help set any veteran up for a solid career.

Those interested in finding a stable job know that they need to find a strong industry that shows no signs of slowing down. Consider the potential demonstrated within the car dealer industry– with 17 million cars expected to be sold over the next year. When you receive an education from the Automotive Dealership Institute, you will have the insight you need to thrive. The well rounded courses and the dedication of our instructors to their students means that our students are set up for success. Come and see what sets the Automotive Dealership Institute apart and why our job placement capabilities can start you on path for the career of your dreams.

Learn more about our job placement program

Tips for Using the Post-9/11 GI-Bill® for F&I Training at ADI

The Post 9/11 GI Bill was created to provide education benefits for individuals who were on active duty for at least 90 days following on September 11, 2001, or later. Qualifying individuals can use this bill to obtain funding for higher education, allowing them to enter a new field and/or advance an existing career. To use the Post 9/11 GI Bill to finance your education, follow the steps below.

1. Find out whether you qualify.

Not every individual who has served in the military will be eligible for benefits under the Post 9/11 GI Bill. In order to qualify for these benefits:

  • You must have been on active duty on or after September 11, 2001.
  • Your qualifying active duty must also have lasted for at least 90 days, or you must have served at least 30 days before receiving a medical honorable discharge.

If you meet these requirements and don’t want to claim the benefits for yourself, you may be able to transfer them to a qualifying dependent, such as a child or spouse.

2. Know how much you will receive.

The amount of benefits you will qualify to receive depends on how long you spent on active duty. The longer you spent on active duty, the more benefits you will receive. Exceptions are made for individuals who were on active duty for a shorter period of time but received an honorable discharge because of a service-related injury.

3. Know which expenses are covered.

Understanding how your benefits can be used is essential as you plan your education and your future career. Some of the expenses that may be covered by Post 9/11 GI Bill benefits include:

  • Up to 100 percent of your tuition and associated fees.
  • The cost of housing while in school.
  • The cost of relocation when no suitable educational institutions are available nearby.
  • Up to $1,000 per year for books and other educational supplies.

4. Find an appropriate school.

The benefits available under the Post 9/11 GI Bill can be used at a variety of institutions, including both public and private schools. Although most people receiving benefits under this bill choose to attend more affordable programs, even some of the more expensive private schools have become accessible to benefit recipients because the Yellow Ribbon Program, which requires these more expensive schools to waive some of their fees.

Before applying for admission to any school, be sure to verify that the benefits you receive under the Post 9/11 GI Bill can be used to cover the cost of programs at the institution of your choice. It is also important to verify that the maximum amount of benefits you can receive will be enough to cover the total cost of your education. If your benefits won’t be sufficient, make sure you have a plan to pay the remainder of these costs on your own.

5. Find an appropriate educational program.

Money available under the Post 9/11 GI Bill can be used for virtually any type of educational program. Although many people who receive benefits under this bill decide to enter higher education programs that end in an associate’s, bachelor’s or even more advanced degree, other types of training are also covered by this bill. Other types of training that may be covered under the Post 9/11 GI Bill include:

  • Tutorials
  • Correspondence training
  • Work studies
  • Certifications and licensing programs
  • Apprenticeships
  • On-the-job training
  • Vocational programs
  • Technical school programs

With so many options available to qualifying veterans, it is possible for almost anyone to find an educational plan that meets his or her needs. Even people who have already completed one or more educational programs can find an option that will allow them to advance their careers after leaving the military.

6. Consider a career in the automotive industry.

The automotive industry is currently in need of more workers, especially in the area of finance and insurance. The automotive industry as a whole has grown significantly in recent years, and this growth is expected to continue. Thousands of dealerships are open all across the United States, and these dealerships sell millions of cars every year.

Within this industry are a variety of careers, but positions in car dealerships’ finance and insurance departments are particularly beneficial for people who have left the military and are looking for a career change. Individuals working in these positions spend their days helping customers to find the financing and insurance coverage they need to help them purchase the car they want and protect the asset in the event of an accident. Auto dealerships rely on these individuals to make money in the form of interest, thus increasing the dealership’s profits.

7. Apply for benefits under the Post 9/11 GI Bill.

Once you have determined whether you qualify for benefits, found a school and chosen a program, it is time to apply for benefits under the Post 9/11 GI Bill. You can apply for these benefits by submitting the required information online or by visiting a local VA office to complete the application with professional assistance. Alternatively, you can call the U.S. Department of Veterans Affairs and request a paper application to be sent in the mail.

8. Consider enrolling in the F&I program at ADI.

If you have decided to work toward a career in the automotive industry, you will most likely need professional training. If you have decided to pursue a career in finance and insurance, you can find the training and education you need from the Automotive Dealership Institute, or ADI. Not only can we provide you with all of the skills and knowledge you need, but we also make it easy to complete the enrollment and training process.

ADI is the only government-approved, licensed finance and insurance school in the United States. It is also the only finance and insurance school that can accept benefits awarded under the Post 9/11 GI Bill. Not only can you pay for all of your school expenses with this bill, but ADI will even help you complete all of the necessary paper work to be sure that you get the financial assistance you need.

Once you have applied for benefits under the Post 9/11 GI Bill and received an approval, you can get started on your F&I program immediately. The program requires 160 hours of study that take place over a period of four weeks. All classes are scheduled during the work week so students can have free time on weekends. Once the program is complete, ADI will assist the graduate in finding a job. We offer job placement services all across the nation. We have a placement rate of more than 90 percent within the first three months after program completion. Our graduates enjoy an average income of more than $140,000.

If you are a veteran who qualifies for educational assistance under the Post 9/11 GI Bill and you are interested in using these benefits to complete the finance and insurance program at ADI, please contact our institution today to get started. We will be happy to answer any questions you may have about the program and/or help you begin the Post 9/11 GI Bill application process.

See what our GI Bill/VA graduates are saying about ADI

A Career as an Automotive Dealership Finance Manager

The auto industry has experienced several good sales years in a row. According to the Detroit News, auto sales beat expectations in 2018. Originally, experts predicted that 2018 sales would be down significantly from 2017. However, the industry surprised everyone when sales numbers actually increased. The Detroit News reports that a total of 17.3 million vehicles were sold during 2018, up from only 17.1 million in 2017.

In most cases, car dealerships earn very little profit on the actual sale price of a vehicle. Fortunately, most people who purchase a vehicle are unable to pay the full price out-of-pocket and need a loan to make up the difference. Car dealerships rely on their finance managers to bring in these loans and boost their profits through interest. The more interest these loans produce, the more profitable the dealership will be.

What Is a Car Dealership Finance Manager?

A car dealership finance manager is a finance professional responsible for helping customers obtain the financing they need to purchase the vehicle of their choice. Finance managers not only work directly with customers interested in a car loan, but they are also responsible for completing all of the required documentation for each financing transaction. Examples of duties performed by car dealership finance managers include completing applications, pulling credit scores, filling out sales contracts, determining payoff amounts and performing title checks. Car dealership finance managers also present and encourage the purchase of extra products sold by the dealership, such as vehicle purchase add-ons.

Each customer’s ability to obtain financing will depend on his or her likelihood of repayment as determined by income, credit score and other factors. In most cases, the finance manager works as an intermediary between finance companies and the car dealership. The finance manager’s ultimate goal in each transaction is to help the customer get the vehicle he or she desires while also maximizing profits for the dealership.

Car Dealership Finance Manager Responsibilities

With every new vehicle purchase, the car dealership has three separate chances to earn a profit, including on the trade-in of the customer’s old vehicle, on the purchase price of the new vehicle and in the financing process. The dealership’s sales team is responsible for the first two transaction, while the finance manager is responsible for the third transaction. However, both the sales team and the finance team often work together to make sure the deal is as profitable as possible for the dealership.

When purchasing a vehicle, customers can either choose to shop for a loan on their own or work with the dealership’s financing department. For the dealership, it is always better to convince the consumer to finance the purchase in-house. It is especially lucrative for the dealership when the customer has a suboptimal credit profile and is required to pay a higher interest rate.

In order to increase profitability for the dealership, finance managers may entice customers to purchase add-on products that raise their monthly payments. Examples of add-ons include paint protection, an extended service contract and gap insurance. Finance managers may also add to the interest rates quoted to them by lending partners, or they may encourage customers to take on a longer loan with a slightly higher interest rate. The latter strategy results in a lower monthly payment for the customer but an overall increase in profits for the dealership. Many dealerships offer their finance managers commission or other incentives for selling extra products or longer loans. According to Value Penguin, the typical term length for an auto loan in 2019 is 68 months.

How Much Do Finance Managers Make?

The salary of car dealership finance managers varies according to many different factors, including the location, the dealership’s profitability and the finance manager’s experience. According to the Bureau of Labor Statistics, loan officers working for automobile dealers in 2017 earned an average annual salary of $98,270. This works out to approximately $8,189 per month. Some states pay finance managers more than others, with the highest wages found in New York, Connecticut, Massachusetts and New Hampshire.

The salary received by car dealership finance managers varies by general region as well. For example, finance managers on the East Coast and West Coast earn higher wages, with lower wages found in the central part of the country. The lowest wages are found in the northwest part of the country, excluding coastal states.

In general, finance managers will earn more when they work in mass market dealerships. These dealerships work with a smaller profit margin on vehicle sales prices, which means they must make up more of their profits in the area of finance. This allows finance managers to ask for higher wages because they carry more of the responsibility for the dealership’s success. In addition, these dealerships often have the resources to pay higher salaries.

How Are Finance Managers Paid?

For decades, compensation for finance managers and other professionals in the automotive industry was based exclusively on commission. However, in the past few years, the compensation structure within the automotive industry has shifted to include a balance of base salary, commission and other incentives.

The shift to a more balanced compensation structure was not necessarily beneficial to finance managers at the time, as they actually earned more when they were paid in commission. However, finance managers also worked more hours when they worked for commission, and they were more vulnerable to the ups and downs within the auto industry. Today, finance managers enjoy a more comfortable schedule and better job security while still earning a healthy salary.

Getting a Job as an Auto Dealership Finance Manager

In general, someone hoping to be successful in this career needs to have skills that allow them to build rapport with customers and keep them happy throughout the loan application and execution process. Auto dealership finance managers must also be detail oriented so that they can be sure every transaction is as profitable as possible for the dealership. In addition, auto dealership finance managers need to have excellent decision-making skills so they can decide which loan options will be most lucrative for the dealership in each case and which approaches will work best with each individual client.

Most auto dealerships require finance managers to have at least a bachelor’s degree, along with an understanding of the financing process. Finance managers working for car dealerships usually complete on-the-job-training as well before beginning work. In the job market, the basic qualifications may not be sufficient. However, you can set yourself apart from the competition in several ways:

– Get some experience with car sales.

One of the best ways to improve your marketability as an auto dealership finance manager is to gain some experience in the car sales industry. For example, you may accept a sales position temporarily so you can learn more about how the sales process works.

– Work in banking.

If you can’t find a job as an auto dealership finance manager immediately, consider spending some time working in another financial institution, such as a bank. This will allow you to get a better understanding of the lending process, as well as some experience you can list on your resume to make yourself a better candidate when you apply for a job with a dealership.

– Obtain a certification from a certified F&I school with job placement assistance.

Some institutions offer specific certifications for Finance and Insurance Managers for Auto Dealerships. Obtaining this type of certification shows potential employers that you not only understand the basics of lending, but that you have training specific to the car sales industry. It is also highly beneficial if the school you attend offers a job placement assistance program. For example, here at ADI our students experience over 90% success rates when it comes to job placement within 90 days of completing our training.

If you are considering a career as an auto dealership finance manager, keep in mind that the industry is constantly changing. Skills, experience and professional training will help set you apart. For this reason, it is wise to do as much as you can to build your resume before you begin a career as a car dealership finance manager.

Why F&I Training at ADI is Ideal for Post 9/11 GI-Bill® Veterans

Upon completing time in the military, many individuals choose to pursue another career path rather than simply remaining retired. They make this decision for a vast number of reasons. Regardless of why individuals choose to pursue a career path upon their discharge from the military, one thing remains true; many of these individuals must complete some form of training or college degree in order to prepare themselves for this career change. The good news is the GI Bill was created to help these individuals pay for their education in appreciation for their service in the military. For the most part, military service members can use funding from this bill to pay for several career training paths, so they can enjoy a lucrative career for their foreseeable future. One such industry that needs more workers is the automotive industry, particularly in the areas of finance and insurance. With the help of the Post 9/11 GI Bill, individuals can pay for the training they need at a qualified school of their choosing, such as the Automotive Dealership Institute.

Who Qualifies for the GI Bill?

First and foremost, it’s important to determine whether you are eligible for payments under the Post 9/11 GI Bill. This bill was put in place to pay for career training and education for military personnel and qualifying dependents. Any service member who served in active duty for at least 90 days after September 10, 2001, can qualify for payments under the Post 9/11 GI Bill. The specific amounts for which you qualify depends on the total number of active service days you have served. For instance, an individual who served for a total of 12 months is eligible for 60 percent of their costs paid, while someone who has spent 36 months can receive 100 percent. An exception to this is for those who served at least 30 days and received a medical honorable discharge for a service-related injury. These individuals are also eligible for 100 percent of their costs in thanks for their sacrifice.

What Does It Pay?

Once you determine whether you qualify for payments under the GI Bill, you need to learn what it can be used for so you can plan accordingly. For many individuals, the GI Bill can cover up to 100 percent of the tuition, as well as any associated fees. It can also include a housing allowance to help pay for the cost of living while in school to prevent individuals from having to juggle family, work and school at the same time. If you are attending school away from home because of a lack of availability close by, the GI Bill can even provide a one-time relocation allowance to assist with moving costs. In addition, the bill can also pay up to $1000 per year for the cost of books and other necessary supplies. For service members who don’t wish to use the benefits for themselves, these payments can be transferred to a qualifying family member to help them with the costs of their own education. This has helped many service members provide a college education for their dependent children or even spouses who had previously been unable to complete a degree. While most individuals choose public institutions or more affordable private schools, the Yellow Ribbon Program can allow individuals to attend more expensive private schools at little to no cost if the school has entered into an agreement with the military to waive some of their costs and fees.

What Can It Be Used For?

GI Bill money can be used for a variety of training and degree programs to assist individuals in preparing for a career beyond the military. Any associates, bachelor’s or higher education degree can be paid for under the GI Bill, allowing individuals to pursue the career of their dreams in the future. However, this isn’t the only type of training that can be paid for with this bill. In fact, individuals can opt for technical schools, vocational training, on-the-job training or apprenticeships, licensing and certifications, work studies, correspondence training, tuition assistance and even tutorial costs. This leaves many opportunities for individuals to pursue the career path they’ve always wanted, even if they previously couldn’t for several reasons, including being unable to afford the costs of getting an education. This is why the government implemented the GI Bill. They recognized the military couldn’t always prepare individuals for their lives after the military and wanted to provide a benefit to thank these individuals for their service and the sacrifices they made, all while giving them the chance to do what they always wanted.

Why the Automotive Industry?

With all the options available, one may wonder why the automotive industry is a good choice for veterans who are looking to make a career change after the military. The automotive industry has experienced rapid growth and continues to grow, making it a lucrative option both now and in the future. It is projected that American dealerships will sell approximately 17 million cars in 2019. With more than 17,000 dealerships open in the United States, there are plenty of career opportunities available to individuals of all skill levels, especially those who have the training to do the job well. These dealerships need trained and experienced individuals who can help obtain financing for their customers, so they can drive off the lot with the car they’ve always wanted, as well as ensure they have the necessary insurance to provide coverage in the event they get into an accident. At Auto Dealer Institute, veterans can use their GI Bill coverage to pay for their education, so they can get the certifications they need to provide the best possible service to a dealership’s customers.

Why Choose ADI?

Once you make the choice to pursue a career in the automotive industry, whether it’s in the area of finance & insurance or something else entirely, your next step is finding a school that not only provides the training and education you require, but also makes it as easy as possible to get started and complete your courses.

Automotive Dealership Institute is the only licensed and government approved F&I School in the United States therefore it stands alone as the one and only F&I School approved by the Veterans Administration to accept Post 9/11 GI Bill, and offers job placement assistance nationwide.

ADI understands the unique needs of individuals who were previously in the military. They work with the GI Bill for many of their students and can even help complete the paperwork and necessary forms to ensure GI Bill approvals are completed in a timely manner, allowing students to get started on their education as soon as possible. Once approved, individuals can quickly get started on their training. Courses through ADI take place over four weeks, requiring just 160 classroom hours that take place Monday through Friday, allowing veterans to enjoy life outside of school, particularly with their families, while getting the education they’re looking for, unlike many other schools that may require weekends or evening hours to complete in such a quick manner. Upon successful completion of the program, individuals can take advantage of the job placement assistance provided by the school. Their professionals can successfully locate jobs for their graduates, with a placement rate over 90 percent within the first 90 days. Jobs are available in all 50 states, and ADI helps individuals locate and apply for jobs in all of them. When veterans apply for jobs, they stand a good chance of being hired due to their discipline, combined with the quality training they have received, both in and out of the military. Graduates enjoy an average income of around $143,000 per year after graduating from the ADI program.

For those interested in applying for the ADI program with payment assistance from the GI Bill, visit the US Veterans page to learn more and to apply.