Position Summary
The Finance Manager is responsible for arranging, presenting, and securing financing and insurance products for dealership customers. This role works closely with sales staff, lenders, and customers to ensure a smooth vehicle purchasing experience while maximizing dealership profitability and maintaining compliance with all federal, state, and lender regulations.
Key Responsibilities
- Present financing, leasing, and insurance options to customers purchasing vehicles.
- Secure financing approvals through a network of lending institutions.
- Explain loan terms, interest rates, warranties, service contracts, GAP coverage, and other protection products.
- Prepare and process all finance and insurance documentation accurately and efficiently.
- Ensure compliance with all federal, state, and dealership policies regarding finance and insurance transactions.
- Review customer credit applications and verify supporting documentation.
- Maintain strong relationships with banks, credit unions, and finance companies.
- Collaborate with sales managers and sales consultants to enhance customer satisfaction and dealership profitability.
- Achieve monthly performance goals related to finance product penetration and profitability.
- Monitor contract funding and resolve any lender stipulations promptly.
- Stay current on automotive financing programs, lender guidelines, and regulatory requirements.
- Deliver an exceptional customer experience throughout the purchasing process.
Qualifications
- High school diploma or equivalent required; bachelor's degree in Business, Finance, or a related field preferred.
- Minimum of 1 year of automotive finance.
- Strong knowledge of automotive financing, leasing, and insurance products.
- Experience with dealership management systems (DMS) and finance software.
- Excellent communication, negotiation, and customer service skills.
- Strong attention to detail and organizational abilities.
- Ability to maintain confidentiality and handle sensitive financial information.
- Proven track record of achieving sales and profitability targets.
Required Skills
- Financial analysis and credit evaluation
- Sales and closing techniques
- Compliance and regulatory knowledge
- Relationship building and customer service
- Time management and multitasking
- Problem-solving and decision-making
- Microsoft Office and dealership software proficiency
Working Conditions
- Full-time position, including evenings and weekends as needed.
- Fast-paced dealership environment.
- Performance-based compensation structure, often including salary plus commission and bonuses.
Compensation & Benefits
- Competitive base salary plus commission and performance bonuses.
- Health, dental, and vision insurance.
- Paid time off and holidays.
- 401(k) retirement plan with company match.
- Professional development and training opportunities.
- Employee vehicle purchase program.
Success Measures
- Finance product penetration rates
- Customer satisfaction scores
- Contract funding turnaround time
- Compliance audit results
- Overall F&I gross profit performance
Reports To: General Sales Manager / General Manager
Department: Finance & Insurance (F&I)
Employment Type: Full-Time
Pay: $80,000.00 - $100,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Employee discount
- Health insurance
- Paid time off
- Vision insurance
Work Location: In person
