Finance and Insurance (F&I) Manager duties and responsibilities
A competent Finance and Insurance Manager has a strong understanding of the financing process and additional programs available.
Their main responsibility is ensuring customers get what they need to afford a vehicle and that it’s properly protected.
Some specific duties include :
A Finance and Insurance Manager works closely with both the customers and the sales team to help drive new and used car sales.
When working with customers, the F&I Manager interviews them to understand their needs, ensures they complete applications correctly and advises them on the best solutions for their situation.
They also help them fully understand all of the options, so they know what they’re agreeing to. They work closely with lenders and companies that provide extended warranties and other programs that car buyers might need.
Compliance is a large part of the job since all car loans and leases must meet financial regulations.
Finance and Insurance (F&I) Manager skills and qualifications
A successful Finance and Insurance Manager candidate will have various prerequisite skills and qualifications needed for the duties, including :
Finance and Insurance (F&I) Manager experience requirements
A strong F&I Manager applicant has previous experience in auto financing, warranty programs, general finance or car sales.
The candidate should ideally have three to five years of experience in a related role. Previous supervisory or management experience is also beneficial since this person takes on a leadership role at the dealership.
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