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