Position Overview:
The Automotive Finance / Business Manager is responsible for overseeing the finance and insurance (F&I) department, ensuring the smooth and efficient operation of all finance and business-related functions within the dealership. This role involves structuring vehicle financing options, securing loans, presenting and selling F&I products such as warranties and insurance, managing lender relationships, and ensuring compliance with all relevant laws and regulations. The Finance / Business Manager plays a key role in maximizing dealership profitability while providing an exceptional customer experience.
Key Responsibilities:
The Finance / Business Manager has the following responsibilities:
- Develop, present, and explain financing options to customers, including loan, lease, and credit terms that meet their needs and preferences.
- Work with financial institutions, lenders, and leasing companies to secure financing for vehicle purchases.
- Structure vehicle financing deals in a manner that maximizes profitability while ensuring customer satisfaction and understanding of the terms.
- Sell additional F&I products, such as extended warranties, gap insurance, vehicle protection plans, and other related services.
- Educate customers about the benefits of various products and help them select the options that best fit their needs.
- Achieve sales targets for F&I products, ensuring a high level of product penetration in every sale.
- Ensure all finance and insurance paperwork is completed accurately and in compliance with dealership policies, federal, state, and local laws and regulations (e.g., Truth in Lending Act, Red Flags Rule).
- Maintain up-to-date knowledge of compliance regulations to ensure the dealership meets all legal and ethical standards.
- Review and verify financial documents, loan applications, and contracts to ensure accuracy, completeness, and compliance.
- Build and maintain strong relationships with financial institutions, insurance providers, and other third-party partners.
- Negotiate favorable terms with lenders and ensure the dealership gets competitive financing rates.
- Manage lender relationships to ensure timely approvals and optimal financing packages for customers.
- Provide excellent customer service by addressing customer inquiries regarding financing terms, monthly payments, and available F&I products.
- Assist in resolving any customer issues or concerns related to finance and insurance after the sale, ensuring high customer satisfaction.
- Follow up with customers to ensure satisfaction with their financing and insurance products and handle any post-sale concerns.
- Drive the dealership's revenue through F&I product sales, financing deals, and other profit-generating activities.
- Monitor and manage F&I performance, tracking key metrics such as product penetration, approval rates, and profit per vehicle sold (PVR).
- Collaborate with the sales team to ensure smooth transitions from the vehicle sale to financing and product selection.
- Train and mentor junior staff and sales associates on F&I products, procedures, and best practices to ensure consistent performance across the department.
- Assist in creating a positive, customer-focused culture within the dealership that promotes high levels of professionalism and integrity.
- Prepare and submit regular reports to senior management on finance department performance, including financing volume, product sales, and compliance issues.
- Maintain accurate records of all finance and insurance transactions and ensure timely submission to lenders and manufacturers.
- Monitor the status of deals to ensure timely funding and finalize all paperwork in a professional and efficient manner.
Compensation And Benefits:
We believe in supporting the overall well-being of our employees, and this benefits package is just one of the ways we show our commitment to your health, happiness, and financial future. If you have any questions about these benefits, please don't hesitate to reach out!
- We offer a competitive base salary along with annual Performance-Based Salary/ Hourly Increases and Annual Performance Based Bonuses.
- Health Insurance, Dental Insurance, Vision Insurance and Life Insurance Benefits.
- Company paid employee wellness programs.
- Voluntary long term life insurance and disability programs.
- We offer a competitive 401K plan with company matching contributions to help you save for retirement.
- Access to discounts on products and services offered by our company.
Requirements:
The Finance / Business Manager should have the following skills, education and experience:
- High school diploma or equivalent required. A Bachelor's degree in Finance, Business Administration, or a related field is preferred.
- At least 2-3 years of experience in an automotive finance role, preferably with experience as a Finance Manager or Business Manager.
- Proven track record of success in structuring vehicle financing deals, selling F&I products, and meeting performance targets.
- Strong understanding of automotive finance products, insurance, and relevant legal regulations.
- Strong communication, negotiation, and interpersonal skills, with the ability to engage effectively with customers, lenders, and team members.
- Ability to work independently and manage multiple priorities in a fast-paced environment.
- High attention to detail, particularly when handling finance documents and contracts.
- In-depth knowledge of federal and state regulations governing automotive finance and insurance.
- Proficiency in dealership management systems (DMS) and financial software.
- F&I certification (e.g., from the Association of Finance & Insurance Professionals) is strongly preferred.
About AutoLenders:
AutoLenders is New Jersey’s largest pre-owned auto dealership, with six showrooms across the state, plus three in Pennsylvania and one in Florida. We pride ourselves on a straightforward, no-haggle, no-hassle approach, where delivering exceptional quality and customer service is our top priority. Unlike traditional dealerships that rely on auctions and trade-ins for inventory, AutoLenders takes control of its inventory sourcing through our CAL and ALGO businesses, ensuring both high-quality vehicles and consistent volume. To learn more about what makes us different, visit our website or explore our career pages!
Why Work for Us?
“A Great Place for Opportunity and Growth - My employment experience with Auto Lenders has been extremely gratifying. In the short time I have been here, I have been provided with multiple opportunities to learn and grow professionally. They emphasize promoting from within and genuinely recognize their employees' efforts. Most importantly, I feel valued and appreciated.” – Employee Review.
Auto Lenders is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
Job Type: Full-time
Pay: From $110,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee discount
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Vision insurance
Work Location: In person
