F&I Director

Summary/Objective

The F&I Director produces additional revenue for the dealership by selling finance and insurance programs and other appropriate after-sale items to new and used vehicle customers.

Essential Functions

• Sells financing and credit life, accident, and health insurance to customer
• Oversees dealership customer loan origination and approval process while maintaining strong relationships with prime and subprime lenders
• Prepares all federal, state, and dealer paperwork and submits to the accounting department in a timely manner
• Leads Finance Managers within the department, and fosters relationships throughout the dealership
• Establishes monthly forecasted income, penetration levels, and customer satisfaction index (CSI) scores
• Generates monthly, quarterly, and year end reports
• Presents service contracts, GAP, and other beneficial ancillary products
• Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction
• Converts cash deals to finance deals where appropriate
• Establishes and maintains good working relationships with multiple finance sources, including the manufacturer
• Processes finance and lease deals accurately, fairly and in accordance with local, state, and federal statutes and company policies
• Conducts business in an ethical and professional manner
• Understands and complies with all federal, state, and local regulations affecting the new and used vehicle and finance departments
• Completes paperwork necessary for vehicle sales and leases in a timely and efficient manner
• Checks all paperwork for, but not limited to correct title, lien information, taxes, and consumer information before forwarding to accounting
• Acquires and maintains current state insurance license, completing continuing credit insurance education
• Seeks new lending institutions to secure competitive interest rates and finance programs continually
• Manages the alternative finance source program to ensure that several sources are available
• Seeks insurance companies for insurance paper
• Maintains insurance files
• Sets up and maintains a program ensuring 100 percent turnover to the F&I department.
• Provides sales staff and Sales Managers with current information about finance and lease programs continually
• Trains the sales staff regarding the benefits of financing, insurance, and extended service programs
• Works with Sales Managers to secure a reasonable profit from every sale
• Coordinates finance forecasting with sales department to achieve desired levels of penetration and income
• Ensures collection of all finance and insurance fees
• Prepares reports on finance penetration
• Works closely with General Sales Manager to establish sales department goals and objectives
• Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction
• Processes Sales Consultants "end of month" commission sheets for accounting office payroll
• Supervises and trains designated backup to ensure efficiency and profitability in the F&I manager's absence
• Maintains an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals
• Ensures that the work areas and customer waiting area are kept clean
• Follows all attendance and punctuality standards with adherences to timekeeping standards
• Follows the Company Code of Business Ethics and Conduct
• Understands and follows all work rules and procedures and follows lawful directions from supervisors
• Upholds the company's non-disclosure and confidentiality policies and agreements
• Maintains a professional appearance for self and subordinates in accordance with company policy
• Attends pertinent training on request
• Attends company meetings as required
• Other duties as assigned
  
  
  

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

EEO Statement

The Company is committed to hiring a diverse and qualified workforce. We will not consider any characteristic or category protected by state or federal law in hiring or employment decisions, including but not limited to race, national origin, color, religion, sex, sexual orientation, gender identity, disability, age, status as a parent, or genetic information.