From insurance to business development, there are a variety of opportunities in the Vehicle and Equipment Finance industry.
For example, the majority of roles in this field fall under either finance or sales, and each sector has its own set of responsibilities. If you really want to impress the hiring team, you should know the job requirements inside and out so you can emphasize the right skills and experiences in your interview.
To help you prepare, here are some common questions you might encounter!
Questions for sales-related positions
Sales and leasing representative roles in this industry rely heavily on strong customer service and communication skills, so your interviewer will likely ask questions similar to the following to determine your fit.
“Sell me this pen.”
What better way to test your sales skills than having you demonstrate them right in your interview? The best approach to answering this question is to figure out the needs of your potential buyer. Start by asking the interviewer what they’re looking for in a pen, then explain why this product is the perfect fit for them. Remember – an effective salesperson doesn’t just push product, they provide thoughtful solutions to their customers’ problems.
“What motivates you?”
Motivation is a key skill employers are looking for in the Vehicle and Equipment Finance industry. The reason is simple: motivated employees are better at attracting new customers and holding onto the business of returning customers, which helps ensure that the company stays profitable.
To answer this question, connect motivation with goal setting. Showing that you are driven to reach your goals not only proves to employers that you’re motivated by hard work and success, it also demonstrates that you’re organized and determined. These are all important skills that interviewers look for!
Questions for finance-related positions
Are you analytical AND a great multitasker? Then you should consider applying for a position in the financing sector of the Vehicle and Equipment Finance industry. These jobs require candidates with strong technical and time management skills. Here are some questions you can expect to be asked if you’re applying for a finance-related position in the Vehicle and Equipment Finance field.
“How do you handle stressful situations?”
Vehicle and Equipment Finance is a fast-paced industry and it’s likely that you’ll be working on multiple projects at once under tight deadlines. That’s why it’s important for employers to know you can balance your time and manage stress.
To answer this question, it’s a good idea to highlight three skills: organization, time management, and stress prevention. Try structuring your answer like this: “I like to keep a weekly calendar that outlines all my tasks. Not only does this help keep me organized, it’s also a way I can prevent stress, as it makes sure I finish tasks well before the deadline.” This kind of response highlights all three skills at once!
“I’ve bought a piece of equipment – walk me through the impact on the 3 financial statements.”
It’s important for your interviewer to know that you have a background in basic finance and accounting concepts. So don’t be surprised if you’re presented with a knowledge-based question.
The best way to prepare for these types of questions is to go back to the basics and study! You can review your old accounting notes or watch a crash course on YouTube. Make sure you’re comfortable defining basic terms and explaining processes in a short amount of time. This shows the interviewer you have the knowledge base for a finance-based role.
Now that you have more of an understanding of what to expect in an Vehicle and Equipment Finance interview, you can go ahead and impress that hiring manager!