How to Become an Auto Dealer Finance Manager
An auto dealer finance manager works with dealership sales personnel and their customers to provide the best financing options. They must be knowledgeable about the auto dealership business, as well as the loan and financing industry. Though some employers require a degree in finance, auto dealership experience is highly desirable.
- Graduate from high school. An entry-level position in an automobile dealership requires a high school diploma.
- Take college courses in accounting, finance, marketing, and computer sciences. Though some dealerships weigh experience more than a college degree, an associate or bachelor’s degree in a related field will improve your chances for job advancement. Computer classes will be helpful as most financial managers work with financial software and spreadsheets.
- Apply for a job at an auto dealership. It may be difficult to be hired as a financial manager without experience. A job as a sales person, or as a bookkeeper in the financial department, will give you valuable dealership experience.
- Learn everything you can about the automotive sales industry. The more you know about auto company operations, the more of an asset you will be to the company. Take advantage of all on-the-job training opportunities, and work closely with experienced employees. Become knowledgeable about auto sales and leasing, bank and credit union auto loans, and interest rates.
- Seek promotion opportunities. A job as a sales manager is an excellent stepping stone to a financial manager position. Sales managers make decisions on auto sales transactions, and work closely with finance managers to obtain the best loans for their customers.
- Apply for a job as an auto dealer finance manager. Now that you have sufficient experience in the automotive sales industry, apply for available jobs.
- Develop personal qualities that will help you to succeed in your chosen career. Some qualities include excellent written and verbal communication skills, problem-solving skills, ability to manage staff and be a team player, follow directions closely, and be organized and resourceful.