Automotive Finance Manager Job Description [Updated for 2025]

In today’s dynamic market, the role of an automotive finance manager has never been more critical.

The automotive industry is constantly evolving, and with each turn of the wheel, the demand for skilled professionals who can navigate, expand, and safeguard our financial objectives accelerates.

But let’s delve deeper: What’s truly expected from an automotive finance manager?

Whether you are:

• A job seeker looking to understand the core of this role,
• A hiring manager outlining the perfect candidate,
• Or simply fascinated by the intricate operations of automotive financing,

You’ve come to the right place.

Today, we reveal a customizable automotive finance manager job description template, designed for effortless posting on job boards or career sites.

Let’s get right into it.

Automotive Finance Manager Duties and Responsibilities

Automotive Finance Managers oversee the financing of automotive sales by working closely with customers, lending institutions, and dealerships.

They are responsible for assisting customers in securing loans, determining the best financing options, and managing the entire sales transaction.

Their duties and responsibilities include:

• Reviewing and understanding customers’ credit scores and financial situations
• Working with customers to understand their automotive financing needs and options
• Negotiating and finalizing finance deals with customers and lenders
• Processing financing and leasing deals accurately and securing approval through financial sources and banks
• Offering vehicle financing and insurance to customers and providing them with a thorough explanation of aftermarket products and extended warranties
• Developing and maintaining relationships with banking, lending, and finance institutions
• Ensuring compliance with privacy laws and regulations, as well as company policies and procedures
• Understanding and complying with federal, state, and local regulations that affect the new and used-vehicle and finance departments
• Creating and maintaining a program with the sales department that will ensure all new sales are referred to the finance department

 

Automotive Finance Manager Job Description Template

Job Brief

We are seeking a detail-oriented and experienced Automotive Finance Manager to join our dynamic team.

Your primary responsibility will be to maximize profitability within the dealership’s finance department by selling finance and insurance products to customers.

The successful candidate will have a strong background in automotive sales, finance, and management.

They must understand dealership operations, including sales, inventory control, and credit policies.

 

Responsibilities

• Developing finance and insurance strategies to achieve the goals of the dealership
• Offering vehicle financing and insurance to customers and providing them with a thorough explanation of aftermarket products and extended warranties
• Establishing and maintaining strong relationships with multiple finance sources, factory, and otherwise
• Submitting paperwork to obtain approval and ensure all deals are fully compliant with local, state, and federal guidelines
• Prioritizing and managing multiple tasks and deadlines
• Maintaining knowledge of current promotions and advertisements
• Processing finance and leasing deals accurately and securing approval through financial sources and through the proper federal, state and corporate channels
• Understanding and complying with federal, state, and local regulations that affect the new- and used-vehicle and finance departments

 

Qualifications

• Proven work experience as an Automotive Finance Manager or similar role in car dealership management
• Working knowledge of automobile financing and insurance practices
• Ability to effectively and professionally communicate with clients and team members
• Excellent computer skills – proficiency in dealership management system and internet sales
• Demonstrated ability to work effectively and productively with team members
• Professional personal appearance and excellent communication skills
• Bachelor’s degree in Finance, Business Administration, or related field is preferred

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities
• Employee vehicle purchase plans

 

Additional Information

• Job Title: Automotive Finance Manager
• Work Environment: Predominantly based in a busy dealership setting.
• Reporting Structure: Reports to the General Sales Manager or Dealer Principal.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $80,000 minimum to $160,000 maximum
• Location: [City, State] (specify the location)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does an Automotive Finance Manager Do?

Automotive Finance Managers typically work in car dealerships, coordinating the financing for customers’ purchases.

They can also work within finance companies that specifically serve automotive dealerships or buyers.

Their primary responsibility is to help customers secure the necessary loans to purchase their vehicles.

They do this by gathering pertinent information from the customer, assessing their credit standing, and working with various financial institutions to secure a loan that fits the customer’s budget.

Automotive Finance Managers also work closely with the sales team to ensure that a customer’s vehicle choice aligns with their financing options.

They also help customers understand the terms and conditions of their financing contract, including interest rates, payment schedules, and any additional costs.

In addition, they may offer additional dealership services such as extended warranties, paint protection, and other after-sale products.

They are also in charge of ensuring all financial paperwork is completed accurately and in a timely manner.

The role often requires strong negotiation skills, knowledge of the automotive industry and its financial aspects, and excellent customer service to ensure the customers are satisfied with their purchase and financing arrangement.

 

Automotive Finance Manager Qualifications and Skills

An automotive finance manager needs to have a blend of financial acumen, knowledge of the automotive industry, and strong people skills.

Some of the key qualifications and skills for this role are:

• Financial skills to understand and navigate lending institutions, loan structuring, and dealership financial operations.
• Knowledge of automotive sales and finance processes to ensure smooth transitions and optimal customer experiences.
• Strong customer service skills to interact positively with customers, addressing their concerns and providing solutions that meet their needs.
• Strong negotiation skills to work effectively with financial institutions and secure the best terms for both the dealership and the customer.
• Interpersonal skills to build and maintain relationships with customers, lenders, and colleagues.
• Analytical skills to assess credit reports, calculate financing terms, and evaluate the risks and benefits of different financial arrangements.
• Attention to detail to ensure all financial and legal documentation is accurate and compliant with regulations.
• Ability to multitask and manage time effectively to handle multiple customers and financial arrangements simultaneously.

 

Automotive Finance Manager Experience Requirements

For an entry-level position as an Automotive Finance Manager, candidates are expected to have a minimum of 1 to 2 years of experience in an automotive sales environment, preferably in a finance or sales role.

This experience may come from internships or part-time roles within car dealerships, auto financing companies, or related industries.

Individuals with 3 to 5 years of experience in automotive sales, finance, or a similar field are often more attractive candidates as they have had the opportunity to develop their understanding of auto financing processes, customer service skills, and knowledge of the automotive industry.

Candidates with over 5 years of experience in the automotive finance sector, particularly those who have held leadership or management positions, are often considered for senior-level Automotive Finance Manager roles.

This level of experience suggests that the candidate has a comprehensive understanding of automotive financing and leasing, as well as the ability to manage a team, oversee department operations, and drive sales strategies.

It’s also beneficial if the candidate has a track record of successful sales, a good understanding of credit laws and lending practices, and excellent negotiation skills.

Some roles may also require formal education, such as a degree in finance, business administration, or a related field.

 

Automotive Finance Manager Education and Training Requirements

Automotive Finance Managers typically hold a bachelor’s degree in finance, business administration, or a related field.

They must have strong knowledge of various financing programs and options, credit procedures, and lending applications.

This could be acquired through coursework or on-the-job training.

It’s beneficial for these managers to have a background in sales or customer service, as they often interact with clients, finance companies, and dealership management.

Continuing education and training are crucial in this role as lending standards, compliance requirements, and best practices frequently evolve.

Therefore, staying up-to-date with current automotive financing trends and laws is important.

Certification from the Association of Finance & Insurance Professionals (AFIP) could be advantageous.

This certification validates the knowledge and professionalism of individuals within the automotive finance and insurance industry.

In addition to educational qualifications, Automotive Finance Managers should also demonstrate strong communication, negotiation, and mathematical skills.

Knowledge of finance software and databases is also beneficial.

Experience in the automotive industry, particularly in a sales or finance role, is often a requirement or a significant advantage for those seeking to become Automotive Finance Managers.

 

Automotive Finance Manager Salary Expectations

An Automotive Finance Manager earns an average salary of $110,000 (USD) per year.

The actual income can fluctuate based on experience, the dealership’s location and size, and the individual’s skill level in negotiating and selling.

 

Automotive Finance Manager Job Description FAQs

What qualifications does an Automotive Finance Manager need?

Automotive Finance Managers typically need a minimum of a bachelor’s degree in finance, business, or a related field.

In addition, they should have extensive experience in the automotive industry, especially in sales, finance, or management roles.

A strong understanding of lending or financing agreements, as well as knowledge of financial laws and regulations, is also crucial.

 

What are the primary responsibilities of an Automotive Finance Manager?

An Automotive Finance Manager plays a crucial role in the dealership by providing financing options and insurance products to customers.

They work closely with lenders and banks to secure financing for customers.

Additionally, they prepare and submit all necessary financing paperwork and ensure that all transactions comply with legal requirements.

 

What skills should an Automotive Finance Manager possess?

Automotive Finance Managers should have excellent numerical skills and a keen eye for details, as they need to handle financial paperwork accurately.

Strong negotiation skills are crucial as they interact with lenders and customers.

They should also have excellent customer service skills, as they need to explain finance terms to customers clearly and effectively.

Familiarity with finance software and data analysis tools is also beneficial.

 

Is previous experience in the automotive industry necessary for this role?

While it’s not always a strict requirement, previous experience in the automotive industry, especially in sales or finance roles, is highly beneficial for an Automotive Finance Manager position.

This background can provide a deeper understanding of the dealership operations, car financing processes, and customer expectations.

 

What makes a good Automotive Finance Manager?

A good Automotive Finance Manager is proactive, detail-oriented, and well-versed in financial regulations and automotive industry trends.

They should be able to build strong relationships with both customers and lenders, ensuring smooth financial transactions.

Being ethical and transparent is also crucial as they need to ensure that all financing options comply with legal requirements and are in the best interest of the customers.

 

Conclusion

And that wraps it up!

Today, we’ve turned on the spotlight on the real essence of being an Automotive Finance Manager.

Surprise, surprise!

It’s not just about crunching numbers.

It’s about driving the financial success of the automotive industry, one deal at a time.

With our reliable Automotive Finance Manager job description template and practical examples, you’re fully equipped to accelerate your career.

But why halt your journey there?

Zoom in further with our job description generator. It’s your next pit stop for drafting precise job listings or fine-tuning your resume to perfection.

Bear in mind:

Every financial decision fuels the larger mission.

Let’s drive that success. Together.

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