how to become a finance manager for a car lot?

Question

i am looking into becoming a finance manager on a car lot, and am wondering if anyone knows exactly how to do this, or what it takes to become one.

Answer 1

First, do you have any car sales experience? That is where you should begin. 95% or more of finance managers sold cars before moving into the F&I office. After you prove yourself by selling cars for a while the next move is usually to the finance dept.

It is a very good paying job, but with that comes alot of stress. You work alot of hours and you are expected to make the dealership alot of money. You have pressure from your managers to get people financed that have rotten credit, pressure to sell warranties,pressure to do your job fast and correct with no errors. You have to build relationships with banks to help you get your deals financed. That is one of the most important parts of the job! If banks don't like you you are doomed because they will never help you if they don't like you.

Above all, you have to be honest. The days of high pressure sales to the customer are over. You have to disclose all info to the customer and show them why the products you sell will help them.