Job Title: Credit Representative
Type of Company: My company financed auto loans for car dealerships.
Education: BSBA, Bridgewater State College (Bridgewater, MA)
Previous Experience: I worked as an auditor for the General Motors Acceptance Corporation (GMAC).
Job Tasks: I audited dealership books to be sure they were paying off their wholesale floor plan. I also handled the analysis of their credit rating in order to obtain their interest rate on their wholesale floor plan. We would consider such things as inventory, personal assets of the principal dealer and the location and volume of sales. we would gather information in-house as well as at the dealership itself. We would review all sales and estimate the time necessary to pay off the inventory. Interacting with the dealers was always professional but often included luncheons and social events. I would attend their fundraisers and personal celebrations such as Christmas parties. If you are a social person and enjoy being with people this is a great job for you. And the dealers welcome the help. Any advice that will help them with their business is appreciated.
Also, working on the road appeals to a lot of people who do not like to be cooped up in an office in a cubicle. Often the only positions that include work on the road would be sales, so this is a good alternative.
Best and Worst Parts of the Job: The best part of this job was interacting with the people at the dealerships. I was able to help them keep their finances in check. This enabled them to make their companies more successful.
The worst part of this job was the long hours. Sometimes I wouldn't get back to the office until 8 or 9 o'clock at night. The pay was salary so I was not compensated for all the extra hours. Work on weekends was also a mandatory part of my job.
Job Tips: Be sure to achieve the highest level of education possible when entering this field. Once you are committed to you career it's difficult to take time to go back to school. Competition is tough so often the person with the most education gets the promotion. You can never have enough education.
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