Automotive Finance Manager Job Guide
If you have a strong background in auto finance and are looking to advance your career in sales, you'll be pleased to know that our dealership group is often hiring for automotive finance manager jobs. The finance manager is a key leader in the transaction process, supervising everything from deal packages to loan applications. As they are the ultimate authority on each lease and finance arrangement at a dealership, this role requires a highly qualified individual. While not an entry-level job, it is a fulfilling position any professional can work toward in their career.
Hoping to learn more about a day in the life of a vehicle finance manager? How to know if you qualify? Where to apply? This guide holds the definitive answers to your questions about the job. So does DARCARS Careers – get in touch with us to learn more.
What Is the Automotive Finance Manager Job Description?
As the title suggests, the auto finance manager is a leadership role. You bridge the best interests of the customer and the dealership at the point of sale. As you well know, leasing or financing a car is not as simple as getting "rung up" by a cashier – it is often a complex, multistep process. The finance manager works with customers, walking them through the process seamlessly until the sale is finalized. They also propose extended warranties and other add-ons to enhance the customer experience and increase the store's revenue.
Outside of these customer-facing duties, the vehicle finance manager works closely with the sales team to craft incentives, secures lender approvals and maintains relationships, and fills out title paperwork to meet deadlines. They are expected to have an extensive understanding of DMV and finance regulations.
What Are the Automotive Finance Manager Requirements?
It takes a highly qualified person to be a successful finance manager. A degree is not always required, but extensive experience in the field is. Many roles require at least two to three years of finance and insurance work at a high-volume dealership. You must also bring a substantial understanding of financial and compliance regulations, preferably from experience. Solid public speaking, leadership, and presentation skills are a must – not only are you leading an entire department, but you are also working with customers, guiding them through the complicated process of automotive financing.
A valid driver's license and clean driving record are also necessary. It's a bonus to have experience with dealership management systems and programs such as Microsoft Office.
Still have questions about finance manager qualifications? Please don't hesitate to reach out to our team to discuss; we'll do our best to set you up for success.
How To Become an Automotive Finance Manager
If, at this point, you are questioning whether or not you currently qualify for the role, don't worry! There are plenty of paths you can take to get there. Education is one of them, as we will discuss below.
We've already mentioned that a background in auto finance management is a key qualification, so why not apply for an entry-level role in the finance department of a dealership? Here, you can gain hands-on experience as an assistant or junior manager and work your way up the ranks to the top level. DARCARS Automotive Group often prefers to promote from within, so you have a good chance of discovering mentorship and support through our employment tracks.
Speaking of mentorship, one of the best ways to succeed in your career is by finding someone with your dream role and asking for their guidance. As long as you are respectful of their time, you'd be surprised at how many professionals are eager to help. You might come across this person by attending trade events and building your own network.
Where To Find Automotive Finance Manager Training & Education
Outside of working for a dealership, there are tons of opportunities to further your knowledge. For one thing, you can educate yourself by reading the trades and staying up to date on the latest models and industry trends. There are also courses you can take, such as the Automotive Dealership Institute, Assurant, AFIP, and an online program titled "Finance Manager Training."
Fortifying your professional experience with these independent training modules is an excellent way to grow your career and hiring potential. Although they almost always require a personal financial investment, they can be empowering for newcomers to the field.
If you are still pursuing higher education, choosing a degree in finance, business, or accounting will help you position yourself as an ideal candidate.
What Is the Average Automotive Finance Manager Salary?
A finance manager's salary depends on several factors, including the current job market and their level of experience. For an accurate, up-to-date ballpark, please see the listings on our website – click the "Apply Now" dropdown menu in the top-right corner and search for "automotive finance manager." Any available openings will appear, and clicking on them will typically reveal the salary being offered for the role.
As always, our team is here to answer your questions about compensation. We do our best to provide competitive salaries for our valued employees, and also boast a significant benefits package, as detailed below. Continue reading to discover the extensive perks of working at one of our DARCARS stores.
There Are Countless Benefits of Working With DARCARS Careers
When you decide to work for a DARCARS dealership, you'll join a team that cares about your growth. This is one of the defining pillars of our DARCARS benefits: We believe in a people-first approach, frequently hiring from within and providing ample professional support through training and education. Another advantage of working for a DARCARS business is the many opportunities to give back. The DARCARS Automotive Group is always looking to expand our community service initiatives, and employees are welcome to join if they so wish.
Let's talk about our concrete benefits. DARCARS Automotive Group offers competitive compensation packages and employee discounts for vehicle purchases, parts, and services. We also offer generous paid time off and holidays, depending on your employment level. You can get the full lowdown on benefits by viewing a specific job listing on our site or contacting our hiring offices for more information.
Jumpstart or Build Upon Your Automotive Finance Manager Journey With DARCARS Careers
Building a career is not as simple as finding a great job. It helps to work for a company that invests in you – your growth, education, and fulfillment in the long run. Along with the wide set of benefits we offer, DARCARS Automotive Careers takes pride in empowering our employees to be the very best they can be.
Can you envision yourself as an automotive finance manager, advising potential customers, handling business transactions, and developing the financial health of a dealership? Whether you're a seasoned manager or just starting your career, our auto group is an excellent place to be. We have locations throughout the mid-Atlantic and northeastern states.
It's easy to get started on your application – head to our job listings linked above and search for current roles under "Apply Now." We can't wait to hear from you at DARCARS Automotive Careers.
Frequently Asked Questions
What does an automotive finance manager do?
At a dealership, the finance manager manages the actual transaction of leasing or financing a car, including selling extended warranties, packaging specials, and securing auto loans through relationships with lenders. In short, they are among the financial leaders in a dealership's sales division. For those with a strong background in vehicle financing, one of our automotive finance manager jobs could potentially be a great fit.
How hard is it to become a finance manager at a car dealership?
If you have extensive experience in automotive finance and insurance, especially at another dealership, you have an advantage in the job application process. This is not an entry-level job; it requires relevant expertise to qualify. Please note that you can always reach out to our hiring offices with any questions about qualifications for the role. We are happy to guide you through the process.
Do you need a degree to be an auto finance manager?
Our automotive finance manager jobs do not necessarily require a degree, but it certainly doesn't hurt. What we really look for is your job history – and whether or not you've worked in this role (or an equivalent role) at a high-volume car dealership for at least two to three years. Experience with DMS programs and Microsoft Office will also give your job application a boost.