Finance and Insurance Manager Job at Fred Martin Superstore – 3.6 in Barberton, OH
The F&I manager’s job is to deliver each sale and ensure that every vehicle sold is delivered while earning F&I income for the dealership. This would include making sure you keep up on legal regulations and your education to, complete, have legal and cashable transactions. Protecting the dealership assets by doing great vehicle deliveries and ensuring all paperwork is completed so we have cashable contracts.
Protects and earns 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, maintenance plans and other back end products. Each delivery starts with a customer introduction and interview in the showroom using the dealership’s menu software questions that will aid in setting up the finance presentation on products needed.
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.
Verify all information on documents are correct by reviewing with the customer.
Converts cash deals to finance.
Process finance and lease deals accurately and fairly through financial sources to secure approval.
Works to sell back end products that bring value to the customer.
Conducts business in an ethical and professional manner.
Processes all federal, state and dealer paperwork related to vehicle transactions.
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 included in Dealerships Platinum Advantages Program.
Verifies and maintains proof of insurance documents on all customers prior to delivery.
Participates in our process that will ensure 100 percent turnover to the F&I department.
Provides salespeople and sales managers with current information about finance and lease programs when needed.
Gets involved in training the sales staff regarding the benefits of financing and all backend products we offer.
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 cash, finance and lease contracts.
Reviews all credit applications and makes sure the customer has completed the application.
Prepare and review reports on finance penetration.
Attends finance managers’ meetings.
Handles all rate quotations.
Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction.
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.
Monitors all F&I chargebacks.
Tracks and verifies all deals for funding and bounced deals.
Strive for harmony with all employees, customers and vendors.
Other tasks as assigned.
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.
Education and/or Experience
Four-year college degree or 4 years auto sales experience.
Needs to be able to read and interpret financial data reports.
Certificates, Licenses, Registrations
AFIP certification (or will be willing to complete on the job)
Valid Driver’s license
Ohio Notary public
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. WORK
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.
About the Company
Company: Fred Martin Superstore – 3.6
Company Location: Barberton, OH