Job Type
Full-time
Description
An Automotive Finance Manager plays a crucial role in the automotive industry. Here are the key duties and responsibilities for this position :
- Understanding Customer Finances :
- Reviewing and comprehending customers' credit scores and financial situations.
- Collaborating with customers to understand their automotive financing needs and options.
- Negotiating and Finalizing Deals :
- Negotiating and finalizing sales with customers and lenders.
- Ensuring accurate processing of financing and leasing transactions, securing approvals from financial sources and banks.
- Providing Expertise :
- Offering vehicle financing and protection products to customers, explaining aftermarket products and vehicle service agreements.
- Developing and maintaining relationships with banking, lending, and finance institutions.
- Compliance and Regulations :
- Ensuring compliance with privacy laws, company policies, and federal, state, and local regulations.
- Staying informed about regulations affecting new and used vehicles and finance departments.
Requirements
To become an Automotive Finance Manager , you'll need a combination of skills, education, and experience. Here are the key requirements :
Education :
Bachelor's degree with a focus on business and finance or two years new car dealer automotive finance experience.
- Experience :
- Dealership Experience : At least two years of experience as a dealership finance and insurance (F&I) manager or in sales.
- Understanding of Lending and Financing Processes : Familiarity with loan structuring, lending institutions, and dealership financial operations.
- Skills and Qualifications :
- Financial Acumen : Ability to navigate lending institutions and understand loan processes.
- Automotive Industry Knowledge : Understanding of automotive financing, lending practices, and regulatory compliance.
- Strong Communication and Negotiation Skills .
Salary Description
$108,000 - 240,000 / yr
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