F & I MANAGER

Modern Automotive Network•Asheboro, NC

5d•Onsite

About The Position

Produces additional revenue for the dealership by selling finance and insurance programs and other appropriate after-sale items to new- and used-vehicle customers. Essential duties include selling financing and credit life, accident, and health insurance to customers, providing customers with a thorough explanation of aftermarket products and extended warranties, converting cash deals to finance, establishing and maintaining good working relationships with several finance sources, including the manufacturer, and processing finance and lease deals accurately and fairly through financial sources to secure approval. The role requires conducting business in an ethical and professional manner, processing all federal, state, and dealer paperwork related to vehicle transactions, and understanding and complying with federal, state, and local regulations that affect the new- and used-vehicle and finance departments. The F&I Manager also completes paperwork necessary for vehicle sales and leases in a timely and efficient manner, checks all paperwork for correct title, lien information, taxes, etc., before forwarding to accounting, and acquires and maintains a current state insurance license, completing continuing credit insurance education as needed. Additionally, the role involves providing customers with a complete explanation of manufacturer and dealership service procedures and policies, seeking new lending institutions to secure competitive interest rates and finance programs, managing the alternative finance source program, seeking insurance companies for insurance paper, maintaining insurance files, and setting up and maintaining a program that ensures 100% turnover to the F&I department. The F&I Manager provides the sales force and sales managers with current information about finance and lease programs, trains the sales staff regarding the benefits of financing, insurance, and extended service programs, works with sales managers to secure a reasonable profit from every sale, and coordinates finance forecasting with sales department forecasting to achieve desired levels of penetration and income. The role ensures the collection of all finance and insurance fees, takes all credit applications, prepares reports on finance penetration, and works closely with the general sales manager to establish sales department goals and objectives and ensures they are achieved. The F&I Manager also attends managers meetings, handles all rate quotations, develops and monitors guidelines for working with customers to ensure maximum customer satisfaction, processes salespersons' commission sheets for accounting office payroll, and supervises and trains designated backup to ensure continued efficiency and profitability in the F&I manager's absence. Maintaining an adequate and current supply of all required contracts and paperwork, maintaining a professional appearance, and maintaining a clean and professional work environment are also key responsibilities. Other duties may be assigned.

Requirements

High school diploma or general education degree (GED); or one to three months related experience and/or training; or equivalent combination of education and experience
One to three years in a retail sales environment
One year in an automotive dealership sales position
Ability to read and comprehend simple instructions, short correspondence, and memos.
Ability to write simple correspondence.
Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
Ability to read and interpret documents such as financing and leasing agreements, safety rules, operating and maintenance instructions, and procedure manuals.
Ability to write routine reports and correspondence.
Ability to speak effectively before groups of customers or employees of organization.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
Ability to write reports, business correspondence, and procedure manuals.
Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
Ability to apply concepts of basic algebra and geometry.
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
Ability to deal with problems involving several concrete variables in standardized situations.
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
State Sales License will be applied for upon hire
Valid Driver's License
Walking, sitting, standing, stooping and driving automobiles, SUVs, vans, pickup trucks, etc.
Ability to get in and out of vehicles on a frequent basis for test drives with customers, for vehicle demonstrations and other purposes related to the sales and leasing of new and used vehicles.
Sitting to perform routine administrative tasks, using fine motor skills, to type using a keyboard, and operate basic office equipment, such as a telephone, scanner/copy machine and calculator.

Nice To Haves

NADA Salesperson Certification preferred

Responsibilities

Sells financing and credit life, accident, and health insurance to customers.
Provides customers with thorough explanation of aftermarket products and extended warranties.
Converts cash deals to finance.
Establishes and maintains good working relationships with several finance sources, including the manufacturer.
Processes finance and lease deals accurately and fairly through financial sources to secure approval.
Conducts business in an ethical and professional manner.
Processes all federal, state, and dealer paperwork related to vehicle transaction.
Understands and complies with federal, state, and local regulations that affect the new- and used-vehicle and finance departments.
Completes paperwork necessary for vehicle sales and leases in a timely and efficient manner.
Checks all paperwork for correct title, lien information, taxes, etc., before forwarding to accounting.
Acquires and maintains current state insurance license, completing continuing credit insurance education as needed.
Provides customers with complete explanation of manufacturer and dealership service procedures and policies.
Seeks new lending institutions to secure competitive interest rates and finance programs continually.
Manages the alternative finance source program to ensure that several sources are available.
Seeks insurance companies for insurance paper.
Maintains insurance files.
Sets up and maintains a program which will ensure 100 percent turnover to the F&I department.
Provides sales force and sales managers with current information about finance and lease programs continually.
Trains the sales staff regarding the benefits of financing, insurance and extended service programs.
Works with sales managers to secure a reasonable profit from every sale.
Coordinates finance forecasting with sales department forecasting to achieve desired levels of penetration and income.
Ensures collection of all finance and insurance fees.
Takes all credit applications.
Prepares reports on finance penetration.
Works closely with general sales manager to establish sales department goals and objectives and ensures that they are achieved.
Attends managers meetings.
Handles all rate quotations.
Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction.
Processes salespersons' "end of month" commission sheets for accounting office payroll.
Supervises and trains designated backup to ensure continued efficiency and profitability in the F&I manager's absence.
Maintains an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals.
Maintains a professional appearance.
Maintains a clean and professional work environment.