Automotive Finance and Insurance Manager, Ted Britt Auto Group, Fairfax, VA
Ted Britt Auto Group -
Fairfax, VA,
US
Automotive Finance and Insurance Manager
Date Posted: 2024-06-05
Job description
WE OFFER:
SUMMARY
Controls the Sale: The F&I manager's job is to secure each sale and ensure that every vehicle sold is delivered.
ESSENTIAL DUTIES
Requirements
A successful F&I manager needs the product knowledge, professionalism, and empathy that customers look for today. Communication is extremely important in a business department as it contributes to team-building with sales and the General Office.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
Language Skills
Mathematical Skills
Certificates, Licenses, Registrations
- Competitive Pay
- Ongoing professional training
- Excellent benefits package including
- Medical
- Dental
- Vision
- Life, Long Term Disability, Critical Illness, Accident Insurance
- Legal Shield
- 401(k) and profit-sharing plan with employer match
- Paid Holiday, Sick and Vacation Time
SUMMARY
Controls the Sale: The F&I manager's job is to secure each sale and ensure that every vehicle sold is delivered.
ESSENTIAL DUTIES
- Protects gross profit by arranging financing so outside sources do not have an impact on selling margins.
- Establishes lender relations that tie the customer closer to the dealership.
- Generates additional income through the sales of credit insurance, vehicle service contracts, GAP coverage and maintenance plans.
- Maintains control of all paperwork until it is ready to be turned into the general office.
- Responsible for all paperwork involved with the sale of the vehicle, including obtaining customer signatures and securing payoff and insurance information.
- 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.
- 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 that 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.
- Attends managers meetings.
- Handles all rate quotations.
- Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction.
- 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.
- Other tasks as assigned.
Requirements
A successful F&I manager needs the product knowledge, professionalism, and empathy that customers look for today. Communication is extremely important in a business department as it contributes to team-building with sales and the General Office.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
- Bachelor's degree (B.A.) from four-year college or university; or one to two years related experience and/or training; or equivalent combination of education and experience.
Language Skills
- 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, and customers.
Mathematical Skills
- 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.
Certificates, Licenses, Registrations
- AFIP certification