Finance and Insurance Manager (F&I)

Remote

💰 Finance

A Finance and Insurance Manager works closely with both the customers and the sales team to help drive new and used car sales. When working with customers, the F&I Manager interviews them to understand their needs, ensures they complete applications correctly and advises them on the best solutions for their situation. They also help them fully understand all of the options, so they know what they’re agreeing to. They work closely with lenders and companies that provide extended warranties and other programs that car buyers might need. Compliance is a large part of the job since all car loans and leases must meet financial regulations.

What does a Finance and Insurance Manager (F&I) do?

A Finance and Insurance Manager, or F&I Manager, helps car buyers choose financing and insurance options. Their duties include customer service, paperwork processing and financial compliance.

Responsibilities

A Finance and Insurance Manager (F&I) should be able to fulfill various duties and responsibilities. The following are some duties and responsibilities a Finance and Insurance Manager (F&I) should be able to execute:

Working directly with customers to explain and recommend financing options, extended warranties, aftermarket products and other options
Finding competitive rates to encourage customers to purchase vehicles
Processing applications for vehicle financing and helping customers get approved
Verifying that all paperwork is completed correctly and filed properly
Maintaining strong relationships with lending institutions to have lots of program options and competitive rates
Seeking out new programs that benefit customers and encourage them to buy

Required Skills

A competitive Finance and Insurance Manager (F&I) will have certain skills and qualifications, including:

Strong mathematical and finance skills
Excellent written and verbal communication skills to explain complex programs to buyers
Knowledge of financial compliance requirements
Analytical and problem-solving skills to help customers find a good deal that fits their financial situation
Advanced negotiation skills to help customers find the best rate
Strong sales and closing skills to boost sales for the dealership

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