Automotive Finance & Insurance Manager

About Us

Serra Traverse City is part of Serra Automotive, one of the top ten privately-held retail automotive groups in the nation. Founded in 1973 by Albert M. Serra with a single Chevy store and a people-first philosophy, the company has grown to operate in seven states, employing over 2,200 people across 44 dealerships and 56 automotive franchises. Our team-driven culture focuses on taking care of customers and employees to drive success.

About the Role

As an Automotive Finance & Insurance (F&I) Manager, you will produce additional revenue for the dealership by selling finance and insurance programs and other after-sale items to new- and used-vehicle customers.

Responsibilities

• Sells financing, credit life, accident, and health insurance to customers.
• Provides customers with thorough explanations of aftermarket products and extended warranties.
• Seeks new lending institutions to secure competitive interest rates and finance programs continually.
• Works closely with the general sales manager to establish and achieve sales department goals and objectives.
• Protects gross profit by arranging financing to prevent outside sources from impacting selling margins.
• Establishes lender relations to tie customers closer to the dealership.
• Generates additional income through sales of credit insurance, vehicle service contracts, GAP coverage, and maintenance plans.
• Maintains control of all paperwork until ready for the general office.
• Handles all paperwork involved in vehicle sales, including obtaining customer signatures and securing payoff and insurance information.
• Converts cash deals to finance.
• Establishes and maintains relationships with finance sources, including manufacturers.
• Processes finance and lease deals accurately and fairly to secure approval.
• Conducts business ethically and professionally.
• Processes all federal, state, and dealer paperwork related to vehicle transactions.
• Understands and complies with federal, state, and local regulations affecting vehicle and finance departments.
• Completes paperwork for vehicle sales and leases efficiently and accurately.
• Checks all paperwork for correct title, lien information, and taxes before forwarding to accounting.
• Acquires and maintains a current state insurance license, including continuing education as needed.
• Explains manufacturer and dealership service procedures and policies to customers.
• Manages alternative finance source programs to ensure multiple options are available.
• Seeks and maintains relationships with insurance companies for insurance paperwork.
• Sets up and maintains a program ensuring 100% turnover to the F&I department.
• Provides sales force and managers with current information about finance and lease programs.
• Trains sales staff on the benefits of financing, insurance, and extended service programs.
• Works with sales managers to secure reasonable profit from every sale.
• Coordinates finance forecasting with sales department forecasting to achieve desired penetration and income levels.
• Ensures collection of all finance and insurance fees.
• Takes all credit applications and prepares reports on finance penetration.
• Attends managers' meetings and handles rate quotations.
• Develops and monitors guidelines for customer interactions to ensure maximum satisfaction.
• Supervises and trains designated backup to maintain efficiency and profitability in your absence.
• Maintains an adequate supply of contracts and paperwork for car deals.
• Maintains a professional appearance and a clean work environment.
• Performs other assigned duties as necessary.

Requirements

• Excellent customer service, interpersonal, and communication skills.
• Strong listening, observational, organizational, and time management skills.
• Ability to motivate and build rapport with people.
• Ability to work autonomously and manage your own caseload.
• Empathetic, non-judgmental, and ethical approach.
• Valid driver's license.
• Professional, well-groomed personal appearance.
• Ability to multitask.

Qualifications

A successful F&I Manager needs product knowledge, professionalism, and empathy. Strong communication skills are essential for team building with sales and the general office. To perform this role, you must be able to execute each essential duty satisfactorily. Reasonable accommodations may be made for individuals with disabilities.

Physical Demands

The role requires regular sitting, use of hands to finger, handle, or feel, and talking or hearing. Occasional standing and walking may be necessary. Reasonable accommodations may be made for individuals with disabilities.

Work Environment

The work environment is typical of an office setting. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Benefits

• Medical, Dental, and Vision coverage.
• 401K retirement plan.
• Short- and Long-Term Disability.
• $15,000 of Employer-paid Life Insurance.
• Employee Referral & Discount Program.
• Employer-Paid College Tuition.
• Growth opportunities within the company.