The Finance and Insurance Manager is responsible for producing additional revenue for the dealership by selling finance and insurance programs to new and used car and truck customers. The Finance and Insurance Manager is also responsible for the profitability of the Finance and Insurance department.
Sells financing, Security Plus, credit life, accident and health insurance to customers.
Establishes and maintains good working relationships with several finance sources, factory and otherwise.
Submits paperwork to and obtains approval from finance sources on all finance deals.
Sets up and maintains an adequate program, to ensure a 100 percent turnover ratio to the Finance and Insurance department.
Instructs sales consultants in the methods of selling financing.
Works with Sales Managers to secure a reasonable profit from every sale.
Sets up finance forecasting in conjunction with sales department forecasting to achieve a desired percent of penetration and income.
Acquires licenses for selling insurance.
Maintains Daily Operating Control.
Collects all funds and make sure all checks are guaranteed.
Prepares monthly penetration reports on finance penetration and share with the Dealer.
Checks and verifies all paperwork for correct title, lien information, taxes, etc.
Recruits, hires and supervises those under the position’s charge.
Computer, telephone, copier, fax, calculator, etc.
Paper products, etc.
High School diploma or the equivalent. Ability to read and comprehend instructions and information. Degree or commensurate experience in finance. May be required to leave the dealership occasionally to contact finance sources. Weekend, evening, and holiday hours will be required. Ability to get along with others.
Non-Essential job tasks:
Assist in snow removal and snow clean up
Special Position Requirements:
Position has supervisory and management responsibilities and authority. Position works with department, dealership personnel and managers, as well as outside personnel who work for financial institutions.
Knowledge of dealership finance and insurance procedures. Computer knowledge preferred. Excellent communication skills.
Occasional overtime may be required.
selling f & I product
Tagged as: Communication skills
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