Job Description
The Automotive Finance Manager will be responsible for guiding customers through the vehicle financing and insurance process, working closely with lenders and financial institutions to secure the best possible financing options for both the dealership and customers. The ideal candidate will possess exceptional communication skills, strong negotiation abilities, and in-depth knowledge of automotive financing and insurance products.
Key Responsibilities:
- Customer Interaction:
- Work directly with customers to explain and recommend financing and insurance options based on their needs and financial situation.
- Provide clear, detailed information about loan terms, interest rates, insurance coverage, and other financial aspects of purchasing a vehicle.
- Assist customers with the completion of financing applications, ensuring all necessary documentation is gathered accurately.
- Financing and Insurance Processing:
- Complete and process vehicle financing applications, ensuring all information is accurate and compliant with company policies and regulatory requirements.
- Maintain up-to-date knowledge of financing products and insurance offerings to ensure customers receive the best possible options.
- Work with third-party insurance providers to offer customized coverage options for customers.
- Lender Relations:
- Develop and maintain strong relationships with lending institutions and financial partners to facilitate seamless loan approvals and financing options for customers.
- Stay current with the offerings of multiple lenders to provide customers with competitive financing terms.
- Monitor and manage relationships with financial partners to ensure efficient and effective processes for vehicle financing.
- Deal Negotiation:
- Negotiate deals between lenders and customers, striving to secure favorable financing terms for both parties while ensuring company profitability.
- Address any concerns or issues that arise during the financing process and work to resolve them promptly and professionally.
- Compliance and Documentation:
- Ensure that all financial transactions comply with state, federal, and company regulations.
- Prepare, maintain, and file all necessary documents related to vehicle financing and insurance, ensuring accuracy and completeness.
- Regularly audit all finance deals to ensure compliance with applicable laws and regulations.
- Sales Team Support:
- Collaborate with the sales team to ensure a smooth and efficient customer experience from initial vehicle selection to financing and final paperwork.
- Assist the sales team in achieving monthly and quarterly sales and financing targets.
- Reporting and Analytics:
- Prepare reports on financing and insurance performance, identifying trends, opportunities for improvement, and potential areas for cost reduction.
- Track and report on the status of outstanding deals and customer financing approvals.
Skills and Qualifications:
- Previous experience in automotive financing, banking, or related fields preferred.
- Strong knowledge of automotive financing products, insurance options, and loan processes.
- Excellent communication and interpersonal skills, with the ability to explain complex financial concepts to customers.
- Proven ability to negotiate and close deals effectively.
- Detail-oriented with strong organizational skills.
- Ability to work in a fast-paced, high-pressure environment.
- Strong relationship-building skills and experience working with lenders and financial institutions.
- Knowledge of relevant legal and regulatory compliance in the automotive finance industry.
- Proficient in Microsoft Office Suite; familiarity with dealership management software a plus.
Education & Experience:
- High school diploma or equivalent required; Bachelor's degree in finance, business, or a related field preferred.
- 3+ years of experience in automotive finance or a related role is a plus.
Physical Requirements:
- Ability to sit and stand for long periods.
- Occasionally lift or carry materials up to 25 pounds.
- Occasional local travel may be required.
Compensation:
- Competitive salary based on experience, with performance-based incentives and commissions.
- Benefits package including health insurance, retirement plans, paid time off, and more.
- Sign- on bonus of up to $10,000.00, based on experience.
Job Tags
Work at office, Local area, Relocation package,