As a car dealership finance manager, you will have the opportunity to play a critical role in your car dealership. You will get to work hand-in-hand with the sales team, helping customers by producing finance arrangements that would allow them to obtain the car of their dreams.
Not only does this position allow people to combine an invigorating and fulfilling career with the chance to work with cars and directly impact the lives of customers, current car sales trends indicate that now is an excellent time to join the field. Car sales are expected to start increasing in a few years and continue to rise for several years. Dealerships watching these projected trends will want to be sure they are poised to take advantage of this growth.
Additionally, those who enter this field will find that they have excellent earning potential. Starting salaries can be over $100,000, giving professionals entering the field excellent motivation to get the education they need and the right start, so they can find a position in this lucrative field.
Here is what those interested in becoming a car dealership finance manager should know about the field and how to get their career off to a great start.
What does a car dealership finance manager do?
As a car dealership finance manager you will need to have a thorough understanding of the products your dealership sells as well as all the relevant procedures and policies available. You will work closely with financial institutions and understand how to interpret important data, such as credit scores and loan options. You will know how to construct lending options for customers that not only would financially benefit your dealership but also appeal to the customer and help them secure the car they want. Additionally, you will know how to construct these deals in accordance with all local and national regulations and restrictions.
Within the dealership, you will also work closely with the sales team. You will help them understand information regarding the finance and leasing options available so that they can help present your solutions to prospective customers.
As someone interested in pursuing a career as a car dealership finance manager, you will be expected to have a good understanding of finance but also sales. You will need to work both directly with customers and closely with sales teams and lending institutions, which means that your people skills will need to be an asset.
As the main driver behind the financial deals that the dealership offers, you will have a big impact on the health of the dealership. Dealerships earn a considerable amount of their revenue through the money generated from these deals. Therefore, your skills in this field will play a critical role in the success of the business.
How do I become a car dealership finance manager?
To find a position that will allow you to excel as a car dealership finance manager, you will need to have an education that teaches you business and finance. You will need to have experience with the computing software needed to thrive in this field.
When people initially decide to enter this field, they often discover a number of different self-professed training programs that promise to teach their students what they need to know to thrive in this industry. Often, however, these programs do not teach students what they need to know in the field of finance or sales. Students leave woefully unprepared for the demands of the industry. They might have not had a single experience with the latest software used in dealerships across the country.
The Automotive Dealership Institute, however, offers students the opportunity to learn in the only licensed program in the country. This school offers decades of experience training people to work in finance at car dealerships. At the Automotive Dealership Institute, people have the chance to learn from professionals who have ample experience in the field. They will spend 4 weeks in hands-on classes that demand that teach them the complexities of the finance and business industries, emerging prepared to excel in the field. Throughout the course, the students must take and pass several exams, ensuring they thoroughly understand the material they learn.
As a licensed institution, the Automotive Dealership Institute can also accept students who want to pay for their education with the Post-9/11 GI Bill. This makes it an excellent option for those who need to make the transition to civilian life in a lucrative field.
The instructors at The Automotive Dealership Institute feel so confident in their program that they also help their graduates with job placement. Students have the chance to speak directly with experienced members of the field and can access help with their resumes and interview practice as they prepare to find their own positions. This help and the outstanding education the students receive explain why the school has an over 90 percent job placement rate for their graduates.
Those interested in finding a career that will help them combine diverse skills and interests such as cars, finance, and sales, will find that working as a car dealership finance manager can be a wonderful fit. This exciting field offers interesting, fulfilling work and the chance to earn an excellent income. Those interested in starting a career in the field should consider carefully where they go about their training, so they can be confident that they will be able to seize all the opportunities that this field has to offer.
To learn more about the F&I training program at ADI, contact our admissions staff today!