Top 5 Careers in Automotive Finance
As the economy slowly comes back to life, the auto industry is starting to bloom again. Even the American auto industry is on an upswing. What does this mean for the economy? The buying and selling of cars has always been a cornerstone on the economy of many countries. Individuals need vehicles to get themselves to work and businesses need transportation for the delivery of products, as well as various other reasons. This upswing in the automotive industry is also a big boon for individuals who are looking for a position in the finance industry. As more people need vehicles, they also need a little financial assistance to be able to afford the cars in the first place. Here are the top five careers in automotive finance.
1. Auto finance sales representative
An auto finance sales rep is a representative for an automotive finance company. The sales rep will devise sales strategies and will meet with partners to devise attractive prospects that make it more enticing for car buyers to get financing. As a sales rep for an automotive finance company, you need to have an extensive knowledge of not only the car industry, but also the economy – especially the current interest rates.
2. Auto finance manager
As an auto finance manager, you will either be working at an auto finance company or at a dealership. You might also work at a car manufacturing company. As a manager, it will be your job to lead the auto finance team or whatever company you work for. You will be managing reps and other members of your finance team. As a manager, it will be your job to be the captain of the finance ship for whatever company you work for. Also, you will be dealing with a company’s money, so you have to be on your toes at all times.
3. Auto finance consultant
As a consultant, you might be working with an auto finance team or you could be working as an independent contractor or for a consultancy firm. As a consultant, it will be your job to work with major companies on how to secure financing for new parts and even new vehicle fleets. For a car company or a financial institution, it is important to have a keen eye on the market place and the economy.
4. Auto finance officer at a dealership
As an auto finance officer, it will be your job to work in the finance department of a dealership to secure financing for new car buyers. As a finance officer, it is important to know your way around a dealership. Also, if you want to find a more niche position, you might want to find a position with a high-end car dealership. In that job, you can help people get into sports cars, so that car buyers can get in sixth gear and zoom away.
5. Auto parts financing
As an auto finance officer for a car parts company, you will be helping people find financing for large auto parts, or you will be helping large companies find parts for their fleet. In the corporate area, you could stand to make a lot of money.