How to Become a Financial Manager for a Car Dealership

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July 07, 2022 | Admin |

Danny Donahue - Updated September 26, 2017

The financial manager in a car dealership is ultimately in charge of sales. He sets the guidelines in accordance with the manufacturer, lending institution and upper management of the dealership. The financial manager knows, through education and experience, the nuances of sales as well as the laws pertaining to credit and financing. You can become a financial manager of an automobile dealership if you are willing to focus throughout years of school and work to enter this career.

Obtain a bachelor's degree in accounting and finance. Take classes in business, math, marketing and computers along the way to build a strong background.

Work as a car salesman for at least two years. This will teach you the ins and outs of the automotive sales industry.

Work in a management position at the dealership for at least a year. A position as a sales manager will complete your training and make you eligible to become a finance manager.

Learn the laws pertaining to the sales and financing of automobiles. Local, state and federal laws regulate the methods allowed in the financing of a vehicle. You must learn and keep current with all of these laws throughout your career.

Apply with your dealership for the position of financial manager when it becomes available. Demonstrate the dedication and willingness to work long hours that is required of a manager in an automotive dealership.

References

Writer Bio

After learning electronics in the U.S. Navy in the 1980s, Danny Donahue spent a lifetime in the construction industry. He has worked with some of the finest construction talent in the Southeastern United States. Donahue has been a freelance writer since 2008, focusing his efforts on his beloved construction projects.

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