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Summary
The Finance & 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 & 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.
Essential Duties & Responsibilities
Sell financing and credit life, accident and health insurance to customers.
Establish and maintain good working relationships with several finance sources, factory and otherwise.
Submit paperwork to and obtain approval from finance sources on all finance deals.
Set up and maintain an adequate program which will ensure an 80- to 100-percent turnover ratio to the F&I department.
Provide incentives for salespeople to sell finance and insurance in accordance with dealership policies.
Instruct salespeople in the methods of selling financing.
Work with Sales Managers to secure a reasonable profit from every sale.
Set up finance forecasting in conjunction with sales department forecasting to achieve a desired percent of penetration and income.
Seek insurance companies for insurance paper.
Maintain insurance files.
Acquire licenses for selling insurance.
Maintain a Daily Operating Control.
Prepare monthly penetration reports on finance penetration and share with the Dealer.
Check all paperwork for correct title, lien information, taxes, etc.
Handle all rate quotations.
Carry responsibility for finance and insurance fees and their collection.
Establish and meet monthly objectives.
Perform the necessary F&I functions in Autobase to ensure the system is updated and accurate.
Other Duties
Qualifications
High school diploma or the equivalent. Ability to read and comprehend instructions and information. Degree or commensurate experience in finance. Knowledge of dealership finance and insurance procedures. Computer knowledge preferred. Professional personal appearance. Excellent communication skills.
Work Environment
Will work at a desk in an office setting. Will work with a Video Display Terminal for most of the shift. Will be trained in the use of applicable dealership computer systems. May be required to leave the dealership occasionally to contact finance sources.
Note
This is not necessarily an exhaustive list of responsibilities, skills, duties, requirements, efforts, or working conditions associated with the job. While this list is intended to be an accurate reflection of the current job, the dealership reserves the right to revise the functions and duties of the job or to require that additional or different tasks be performed when circumstances change (i.e., emergencies, changes in personnel, work load, rush jobs, or technological developments).
