PRIMARY FUNCTION: The F&I Manager is responsible for producing additional revenue for the dealership by selling finance and insurance programs to new and used vehicles customers. They are also responsible for ensuring all federal, state, and local laws are being followed and must be updated on said laws. The F&I Manager must also have an active sales license.
ESSENTIAL JOB FUNCTION/DUTIES:
- Receive sales debrief from salesperson and sales manager
- Conduct customer interview in a timely fashion
- Deliver vehicle to customer
- Sell Finance, GAP, Service Contracts, Aftermarket and other products to customers.
- Ensure deal paperwork is accurately completed (Rebates Forms, Buyers Orders, Title Forms, Privacy Notices, Risk Base Pricing Notices…etc.) and is timely submitted to the business office (within 24 hours of the deal date).
- The following information should be verified: serial number (VIN), driver’s license, active automotive insurance and mileage.
- Work with Sales Managers to secure a reasonable profit from every sale.
- Submit necessary paperwork to and obtain approval from finance sources.
- Run customer credit, OFAC and Redflags.
- Verify all down money is collected.
- Complete IRS 8300 Form if needed.
- Verify bank approvals match deal structure.
- Ensure that all funding has been received within 10 days of deal date.
- Build relationships with banks/financial institutions.
- Process lease returns.
- Communicate with service writers on a regular basis for warranty sales.
- Analysis all chargeback from finance institutions in order to ensure their accuracy.
- At all times, maintain security with protected customer information as described in the Protecting Customer Information Manual (follow company Safeguard procedures).
- Attend and participate in all sales meetings.
- Establish F&I forecasting in conjunction with the sales departments in order to achieve a desired percentage of penetration.
- Ensure all lease returns are properly processed and all documents are properly completed.
MINIMUM WORK EXPERIENCE/EDUCATIONAL REQUIREMENTS:
- Excellent verbal and written communication skills.
- Excellent organizational skills and attention to detail.
- Excellent analytical and management skills.
- Prior Sales experience is required.
- Must have High School Diploma or equivalent.
PHYSICAL REQUIREMENTS/WORK ENVIRONMENT:
- Prolonged periods sitting at a desk and working on a computer.
- Must be able to lift up to 30 pounds at times.
EMPLOYEE REQUIREMENTS:
Compliance with all policies of the company including without limitation the Employee Handbook, Code of Conduct, Electronic Information Policy, and Confidentiality Agreement. This job description in no way states or implies that these are the only duties to be performed. This position is expected to follow other job-related instructions and duties.
