Finance and Insurance Position

Overview

POSITION OVERVIEW
 
A Finance Specialist performs a number of vital functions, including reviewing and confirming the agreed-upon sales figures, preparing salespeople to confer with customers about needed services or products, consulting with customers to determine their wants and needs and presenting products to fulfill them, obtaining credit approval, and preparing delivery documentation. Throughout the process, the Finance Manager must practice strict legal compliance and ethical behavior. Actively promotes the store in outside groups and activities.

DETAILED JOB DESCRIPTION
Secure Financing and Establish Lender Relations: The Finance Specialist secures acceptable financing for customers requesting it through one of the dealership's lending sources. Securing financing for customers accomplishes two very important objectives for the dealership.

First, it ties the customer closer to the dealership. When a customer finances at the dealership, he or she is more likely to purchase from the organization again as opposed to someone who handles the balance himself or herself.

Second, it increases the opportunity for additional dealership income. When the dealership controls the financing it allows for the opportunity to sell credit insurance products and increases the likelihood that a service contract will be purchased.

The Finance Specialist protects the gross by negotiating financing terms with outside finance sources so that they do not have an impact on the selling gross. This responsibility helps develop an ideal working relationship between the sales and F&I department. It helps to cultivate a team philosophy in a dealership that will ensure both production and profits are maximized.

Control the Funds: Once a customer and a deal are turned over to the Finance Specialist, it is his or her duty to maintain control of all the paperwork until it is ready to be turned in to the general office. This means control is kept until the loan is approved and all the necessary paperwork has been signed. On cash deals, the Finance Specialist maintains control until all the money is accounted for, all checks are received and funds have been verified. On an outside finance deal, the Finance Specialist maintains control until a draft has been delivered and drafting instructions have been made available.

Complete the Paperwork: The Finance Specialist is responsible for all paperwork involved with the sale of the vehicle. This means obtaining customer signatures on all necessary forms and also obtaining payoff and insurance information.

Motivate the Sales Department: It is the Finance Specialists responsibility to educate the salespeople with regard to the inner workings of the department, the benefits of the protective products offered in the department, and the role that salespeople play in the success of the department.

One of the best ways to accomplish this is for the Finance Specialist to be actively involved in sales and training meetings at the dealership on a regular basis.
 
Be a Better Professional: It is important for this individual whose work habits, integrity, and ethics are respected by not only the customers, but by co-workers, employers, and all parties associated with the department. This would include lenders, vendors, and manufacturer representatives.

A successful Finance Specialist needs the product knowledge, professionalism and empathy that customers look for today. In other words, to be a successful Finance Specialist, you must be the kind of person that you would buy the products from and the kind of professional that you would enjoy working with.

Please no phone calls in reference to this posting. Thank you for your interest in our dealership!