Job Description
Job DescriptionFinance ManagerPosition Summary
The Finance Manager is responsible for assisting customers with financing and protection product options while ensuring compliance with all federal, state, lender, and dealership regulations. This position works closely with the Sales Department, lenders, and customers to secure financing approvals, maximize profitability, and provide an exceptional customer experience throughout the vehicle purchase process.
Essential Duties and ResponsibilitiesCustomer Financing & Delivery
- Present financing options and payment solutions to customers.
- Secure financing approvals through various lending institutions.
- Structure vehicle transactions to meet customer needs and lender guidelines.
- Explain loan terms, interest rates, payment schedules, and contractual obligations.
- Prepare and review all required sales and finance documentation.
- Ensure accurate and timely vehicle deliveries.
Product Sales
- Present and sell Finance & Insurance (F&I) products including:
- Vehicle Service Contracts
- GAP Protection
- Tire & Wheel Protection
- Paint and Fabric Protection
- Theft Protection Products
- Maintenance Plans
- Other dealership-approved protection products
- Achieve dealership product penetration and profitability objectives.
- Maintain ethical and transparent product presentations.
Compliance & Documentation
- Ensure all transactions comply with:
- Truth in Lending Act (TILA)
- Fair Credit Reporting Act (FCRA)
- Equal Credit Opportunity Act (ECOA)
- Federal Trade Commission (FTC) regulations
- State motor vehicle laws
- Manufacturer and lender requirements
- Verify all deal documentation is complete and accurate before funding.
- Maintain compliance with dealership policies and procedures.
- Protect customer privacy and confidential information.
Lender Relations
- Develop and maintain positive relationships with lending institutions.
- Monitor lender programs and financing incentives.
- Submit complete and accurate credit applications.
- Resolve funding issues and stipulations promptly.
- Maintain lender approval ratios and funding efficiency.
Team Collaboration
- Work closely with Sales Managers and Sales Consultants to ensure smooth transactions.
- Assist in training sales staff on financing programs and compliance requirements.
- Communicate effectively with accounting and title departments.
- Support dealership goals for customer satisfaction and profitability.
Performance Expectations
- Meet or exceed monthly finance income goals.
- Achieve product penetration targets.
- Maintain strong lender relationships and funding efficiency.
- Ensure deal accuracy and timely contract funding.
- Maintain high customer satisfaction scores.
- Follow all compliance standards with zero tolerance for violations.
Qualifications
- Previous automotive Finance Manager experience preferred.
- Strong understanding of automotive financing and lending practices.
- Knowledge of dealership management systems and finance software.
- Excellent communication, presentation, and negotiation skills.
- Ability to work in a fast-paced dealership environment.
- Strong organizational and attention-to-detail skills.
- Valid driver's license and acceptable driving record.