A Lucrative Automotive
Finance Manager Job

Automotive finance manager job -
The finance department of an automotive dealership is typically the most lucrative department in the entire dealership. It is public knowledge that the average car dealership will make more profit arranging financing for a new vehicle than they will make in selling the vehicle. That means that an automotive finance manager, that arranges financing for customers, can bring in excellent profits for a dealership and earn an excellent income.

Since most customers are not in a position to pay cash for their new vehicle the finance manager performs a very critical job for the customer as well. For most customers no financing approval means no car.

This is usually a very professional department in a dealership. Most finance managers have an attractive private office to confidentially discuss a customers financing with them. They dress professionally like a banker but they usually make more money than most bankers. They will also offer the customer additional products to better protect their new car purchase. Some of these products include, credit life and accident and health insurance, extended service contracts, GAP insurance and possibly other auto financing related products.

Next to buying a home, purchasing an automobile is usually the biggest purchase most people will ever make.

A large metropolitan auto dealership, domestic or import, is typically made up of the following positions.

• Finance Director - Oversees the operations of a dealership’s finance department. They hire, develop and train their entire finance department staff. They develop goals and analyze results of the department. They develop relationships with the various lenders the dealership does business with.

• Assistant Finance Director - They assist the director in the managing of the finance department. They will deal directly with lenders on the more challenging deals. They train and help oversee the work of the finance managers.

• Secondary Finance Director - This is a specialist in the area of working with credit challenged customers. With a record number of consumer bankruptcies year after year this area is getting more and more important to car dealerships.

• Finance Manager - This is the person that works directly with the customers to arrange financing for them. They also work directly with various lenders to get their customers approved for financing.

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