How much do car financial managers make?
How much does a Car Dealership Finance Manager make? As of Jul 14, 2021, the average annual pay for a Car Dealership Finance Manager in the United States is $94,263 a year.
What does an automotive finance manager do?
A car dealership finance manager is a finance professional responsible for helping customers obtain the financing they need to purchase the vehicle of their choice.
What qualifications do you need to be a finance manager?
Qualifications and training required A career in financial management is open to both university graduates and school leavers. Graduates may have a degree in any discipline, although employers may prefer qualifications in accountancy, statistics, economics, mathematics, management or business subjects.
Are there any finance jobs in car dealerships?
The U.S. Bureau of Labor Statistics doesn’t report job opportunities specifically for car dealership finance managers. However, the BLS does project an impressive 15 percent increase in jobs by 2029 for financial managers as a group, which is much faster than the projected 4 percent growth rate for all occupations.
What does it mean to be an auto finance manager?
(Source: Noel-Levitz 2012 trend study) Should I Become an Auto Finance Manager? Auto finance managers, sometimes called F&I (finance and insurance) managers, work at automotive dealerships helping sales associates and customers find financing options for purchases.
What should be included in a finance manager job description?
A Finance Manager distributes the financial resources of a company, is responsible for the budget planning, and supports the executive management team by offering insights and financial advice that will allow them to make the best business decisions for the company. What should be included in a Finance Manager job description?
What can I do with an auto finance degree?
With this experience, as well as knowledge of business and financing, individuals can apply their training to an auto finance managerial position. Common duties in this career include working with financial lenders and selling insurance programs.
What are the duties of an auto finance manager?
Auto finance managers work in car dealerships and are responsible for helping customers find financing solutions, securing rates, and communicating to banks about loans and other financial matters. The table below includes more basic information about this career.
How to become a finance manager for a car dealership?
Some institutions offer specific certifications for Finance and Insurance Managers for Auto Dealerships. Obtaining this type of certification shows potential employers that you not only understand the basics of lending, but that you have training specific to the car sales industry.
With this experience, as well as knowledge of business and financing, individuals can apply their training to an auto finance managerial position. Common duties in this career include working with financial lenders and selling insurance programs.
What are the benefits of being a finance manager?
However, finance managers also worked more hours when they worked for commission, and they were more vulnerable to the ups and downs within the auto industry. Today, finance managers enjoy a more comfortable schedule and better job security while still earning a healthy salary.