Auto Finance Manager: Job Description, Duties & Salary

If you are interested in a career as an auto finance manager, continue reading to learn more about how to get started. Read on to learn about the job, duties, salary, educational requirements and more. Schools offering Chartered Financial Analyst (CFA) degrees can also be found in these popular choices.

Career Information at a Glance

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.

Degree Required Bachelor's degree
Education Field of Study Finance, accounting, economics
Key Skills Communication skills, math and computer skills, detail oriented, organizational skills
Job Growth (2016-2026) 19% for financial managers*
Average Salary (2019) $59,984**

Source: *U.S Bureau of Labor Statistics, **Payscale.com

What Does an Auto Finance Manager Do?

An auto finance manager coordinates the financing for customers buying new or used vehicles. They act as the intermediary between the customer and the banks and make sure to maintain positive relationships with both. Auto finance managers prepare paperwork and contracts and make sure that deals are effectively closed.

What Duties Does an Auto Finance Manager Have?

In addition to helping customers finance their purchases, auto finance managers must inform and educate customers on aftermarket products that will enhance their vehicle ownership experience. Auto finance managers must understand title laws, the registration process and specific local, state and federal regulations. They must also make sure they communicate with banks to determine interest rates, make credit decisions and ensure that the customer and dealership are both getting the best deal.

What Is the Salary of an Auto Finance Manager?

According to Payscale.com, the average salary of an auto finance manager in 2019 was $59,984, though this amount can vary greatly. Payscale.com estimates the lowest 10% of earners in this career earning an average of $24,000 or less and the highest 10% of earners earning an average of $123,000 or more. According to the BLS, the median salary for finance managers in 2018 was $127,990, and the projected job growth is a 19% increase from 2016-2026.

What Skills Are Needed to Become an Auto Finance Manager?

You'll want to have strong communication skills if you want to become an auto finance manager, since much of your time will be spent communicating between customers and banks. Additionally, you'll want to be detail oriented because there will be a lot of contracts and forms to fill out in this job. Strong math skills will help with navigating interest rates, lending deals and other financial documentation.

What Are the Educational Requirements?

Earning a bachelor's degree in finance, accounting or economics may prove beneficial if you want to become an auto finance manager, although some dealerships may hire someone with a high school diploma. Experience in another financial institution along with sales and dealership management experience are important, and most jobs prefer candidates who fit these qualifications. While certifications are not required, the Automotive Dealership Institute (ADI) provides additional training and courses which can help potential candidates.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

  • 1. Degree Options:
The schools in the listing below are not free and may include sponsored content but are popular choices among our users. Tuition and costs will vary across programs and locations. Be sure to always request tuition information before starting a program.

Popular Schools

  • Strayer University

    Strayer University responds quickly to information requests through this website.

    Popular programs at Strayer University:

    • Master
    • Bachelor Degrees
    • Associate Programs
    • Certificates

    Online Programs Available

  • Southern New Hampshire University

    Southern New Hampshire University responds quickly to information requests through this website.

    Popular programs at Southern New Hampshire University:

    Online Programs Available

  • Walden University

    Walden University responds quickly to information requests through this website.

    Popular programs at Walden University:

    • Doctoral

    Online Programs Available

  • Ashford University

    Ashford University responds quickly to information requests through this website.

    Popular programs at Ashford University:

    Online Programs Available

  • Liberty University

    Liberty University responds quickly to information requests through this website.

    Popular programs at Liberty University:

    • Master

    Online Programs Available

  • Full Sail University

    Full Sail University responds quickly to information requests through this website.

    Popular programs at Full Sail University:

    Online Programs Available

  • Purdue University Global

    Purdue University Global responds quickly to information requests through this website.

    Popular programs at Purdue University Global:

    • Master
    • Bachelor Degrees
    • Associate Programs
    • Certificates

    Online Programs Available

  • Grand Canyon University

    Grand Canyon University responds quickly to information requests through this website.

    Popular programs at Grand Canyon University:

    • Bachelor Degrees

    Online Programs Available

  • Maryville University

    Maryville University responds quickly to information requests through this website.

    Popular programs at Maryville University:

    • Bachelor Degrees

    Online Programs Available

  • Capella University

    Capella University responds quickly to information requests through this website.

    Popular programs at Capella University:

    • Doctoral
    • Master
    • Bachelor Degrees

    Online Programs Available

  1. 1
  2. 2
  3. 3
  4. Next »