Auto Dealership’s Financial Literacy Course Gives Employees the Tools to Succeed

Mark Castillo, manager of the loan car department, had little knowledge of budgeting when he took the course. Using a strategy Walker suggested for paying off his debts, he sold stocks, used his savings, and better managed his existing expenses to pay off $12,000 in student loans.

“It was such a relief,” he says.

He also paid $2,000 he owed on two credit cards and only keeps one for the bills. He also enjoyed learning how to use HSAs for investing.

Richard Clary, a technician, followed Walker’s recommendation to better budget and prioritize certain debts to pay off the $4,000 he owed on his truck last October and the $1,000 he owed on his phone a few months ago. later.

“It was refreshing to know that I owed nothing to anyone” and to start the year debt-free, he says.

Walker wrote down Clary’s budget, which “helped illustrate how much better I could spend my money,” he says.

He also liked the way she explained complicated concepts in an easy to understand way. Clary hopes to buy a house this year.

For dealerships who struggle to recruit and retain service personnel, especially technicians, a financial literacy course can be seen as an advantage. Castillo, who has been with Austin Subaru for nine years, says the class and other activities such as gardening, music and outdoor clubs make him want to stick around.

“I love it here,” he says.

Hoelscher says the goal is to launch the courses at the seven retailers and the body shop that are part of Continental Automotive Group “and add it as another great reason to work for CAG.”

Sarah J. Greer