Car leasing agent

Car leasing agents

Description

Car leasing agents represent businesses involved in financing vehicles, offering appropriate leasing schemes and additional services related to the vehicle. They document transactions, insurances and installments.

Many businesses and some individuals find it more economical to lease cars or trucks than to purchase them, partly because leasing companies often pay for repairs and maintenance on their vehicles. Customers pay a fixed leasing charge in return for the use of the vehicles and whatever services are listed in the lease. If customers lease fleets of trucks, agents negotiate the total price of the lease. Many car leasing agents get commissions on the leases they sell.

Car leasing agents typically do the following:

  • Develop internal and external relationships with customers and clients.
  • Sell automotive leases to various customers, clients and executives.
  • Assist and support companies and organizations in meeting their transportation requirements.
  • Advise customers on financial options available in the market to meet their automotive needs.
  • Advise customers on taking the best automotive leases.
  • Provide customers the complete vehicle information with costs, terms and conditions.
  • Prepare estimates, workout the cost of the automotive business or vehicles including insurance and taxes and legal fees.
  • Prepare lease agreements with contract and lease terms, credits and warranties.
  • Integrate the best practices in preparing lease agreements for customers.
  • Ensure hundred percent customers satisfaction through honest efforts in automotive leasing business.

Other titles

The following job titles also refer to car leasing agent:

senior car leasing agent
vehicle fleet leasing consultant
car leasing team leader
vehicle leasing sales agent
car leasing office manager
assistant car leasing agent
vehicle fleet leasing agent
graduate car leasing agent
car leasing team worker
trainee car leasing agent
vehicle leasing consultant
car leasing office worker
automobile leasing agent
fleet leasing consultant
automobile leasing representative
fleet leasing agent

Working conditions

Car leasing agents work out of the regional offices of large leasing companies and in the leasing departments of large car dealerships. Many travel extensively to sell leasing services. They work under the supervision of sales managers and regional managers.

Car leasing agents spend much of their time on the road calling on customers. Because commissions make up part of their salaries, they work under pressure to sell as many leasing services as possible. The job can be stressful.

Minimum qualifications

Car leasing agents must be college graduates with at least one year of sales experience; however, companies occasionally hire applicants who have only one or two years of college education but have been salespeople for several years. The large leasing companies have formal training programs that lead to assignments in specific sales territories.

ISCO skill level

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

  • the nature of the work performed in an occupation in relation to the characteristic tasks and duties
  • the level of formal education required for competent performance of the tasks and duties involved and
  • the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Car leasing agent is a Skill level 2 occupation.

Car leasing agent career path

Similar occupations

These occupations, although different, require a lot of knowledge and skills similar to car leasing agent.

rental service representative in cars and light motor vehicles
rental service representative in machinery, equipment and tangible goods
rental service representative in personal and household goods
rental service representative in recreational and sports goods
rental service representative in trucks

Long term prospects

These occupations require some skills and knowledge of car leasing agent. They also require other skills and knowledge, but at a higher ISCO skill level, meaning these occupations are accessible from a position of car leasing agent with a significant experience and/or extensive training.

ICT help desk agent
aviation data communications manager
call centre supervisor
aeronautical information specialist
sales account manager

Essential knowledge and skills

Essential knowledge

This knowledge should be acquired through learning to fulfill the role of car leasing agent.

  • Characteristics of products: The tangible characteristics of a product such as its materials, properties and functions, as well as its different applications, features, use and support requirements.
  • Car controls: The functioning of specific car equipment such as how to operate and handle the clutch, throttle, lighting, instrumentation, transmission and the brakes.
  • Types of vehicles: Field of information which distinguishes rental agency classification systems, containing types and classes of vehicles and their functioning and components.
  • Financial capability: Financial operations such as calculations, cost estimations, budget management taking relevant commercial and statistical data into account such as data for materials, supplies and manpower.
  • Leasing characteristics: The clauses present in leasing contracts, the types of leases and their advantages and disadvantages.
  • Characteristics of services: The characteristics of a service that might include having acquired information about its application, function, features, use and support requirements.

Essential skills and competences

These skills are necessary for the role of car leasing agent.

  • Guarantee customer satisfaction: Handle customer expectations in a professional manner, anticipating and addressing their needs and desires. Provide flexible customer service to ensure customer satisfaction and loyalty.
  • Communicate with customers: Respond to and communicate with customers in the most efficient and appropriate manner to enable them to access the desired products or services, or any other help they may require.
  • Use different communication channels: Make use of various types of communication channels such as verbal, handwritten, digital and telephonic communication with the purpose of constructing and sharing ideas or information.
  • Keep task records: Organise and classify records of prepared reports and correspondence related to the performed work and progress records of tasks.
  • Write leasing reports: Keep written records of leasing agreements.
  • Moderate in negotiations: Oversee negotiations between two parties as a neutral witness to ensure that the negotiations occur in a friendly and productive manner, that a compromise is reached, and that everything is compliant with legal regulations.
  • Assist customers: Provide support and advice to customers in making purchasing decisions by finding out their needs, selecting suitable service and products for them and politely answering questions about products and services.
  • Identify customer’s needs: Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.
  • Handle lease agreement administration: Draw up and handle the contract between a lessor and lessee that allows the lessee rights to the use of a property owned or managed by the lessor for a period of time.
  • Negotiate sales contracts: Come to an agreement between commercial partners with a focus on terms and conditions, specifications, delivery time, price etc.
  • Record customers’ personal data: Gather and record customers’ personal data into the system; obtain all signatures and documents required for rental.
  • Managing a business with great care: Detailed and thorough treatment of transactions, compliance with regulations and supervision of employees, safeguarding a smooth running of daily operations.
  • Meet deadlines: Ensure operative processes are finished at a previously agreed-upon time.
  • Advise on vehicle characteristics: Provide advice to customers on the features, functionality and controls of a vehicle, such as colours, seating types, fabric, etc.
  • Listen actively: Give attention to what other people say, patiently understand points being made, asking questions as appropriate, and not interrupting at inappropriate times; able to listen carefully the needs of customers, clients, passengers, service users or others, and provide solutions accordingly.
  • Achieve sales targets: Reach set sales goals, measured in revenue or sold units. Reach the target within a specific timeframe, prioritise sold products and services accordingly and plan in advance.
  • Present reports: Display results, statistics and conclusions to an audience in a transparent and straightforward way.
  • Have computer literacy: Utilise computers, IT equipment and modern day technology in an efficient way.
  • Communicate by telephone: Liaise via telephone by making and answering calls in a timely, professional and polite manner.
  • Review completed contracts: Review content and check accuracy of completed contracts.
  • Process data: Enter information into a data storage and data retrieval system via processes such as scanning, manual keying or electronic data transfer in order to process large amounts of data.
  • Handle financial transactions: Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.

Optional knowledge and skills

Optional knowledge

This knowledge is sometimes, but not always, required for the role of car leasing agent. However, mastering this knowledge allows you to have more opportunities for career development.

  • Contract law: The field of legal principles that govern written agreements between parties concerning the exchange of goods or services, including contractual obligations and termination.
  • Teamwork principles: The cooperation between people characterised by a unified commitment to achieving a given goal, participating equally, maintaining open communication, facilitating effective usage of ideas etc.
  • Financial jurisdiction: Financial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction

Optional skills and competences

These skills and competences are sometimes, but not always, required for the role of car leasing agent. However, mastering these skills and competences allows you to have more opportunities for career development.

  • Perform multiple tasks at the same time: Execute multiple tasks at the same time, being aware of key priorities.
  • Speak different languages: Master foreign languages to be able to communicate in one or more foreign languages.
  • Adapt to changing situations: Change approach to situations based on unexpected and sudden changes in people’s needs and mood or in trends; shift strategies, improvise and naturally adapt to those circumstances.
  • Prospect new customers: Initiate activities in order to attract new and interesting customers. Ask for recommendations and references, find places where potential customers can be located.
  • Use customer relationship management software: Use specialised software to manage company’s interactions with current and future customers. Organise, automate and synchronise sales, marketing, customer service, and technical support, to increase targeted sales.

ISCO group and title

5223 – Shop sales assistants


References
  1. Car leasing agent – ESCO
  2. List of Automotive Leasing Sales Representative Responsibilities and Duties – Great Sample Resume
  3. Car Rental or Leasing Agent Job Description – StateUniversity.com
  4. Featured image: Photo by Arlington Research on Unsplash
Last updated on November 25, 2022

What do you want to do with this job?

You will be brought to the forum page

Requires a business account

Requires a business account

Thinking about your next career move?

Answer a few questions about your jobs and education, and we’ll give you suggestions about your best possible career move. It’s completely free!