Working as a Finance and Insurance manager involves having extensive knowledge of the car finance industry.
A Finance and Insurance manager has the primary task of working to achieve the car dealership’s goals.
What are the roles and responsibilities of a Finance and Insurance Manager?
You firstly need to have extensive knowledge of credit and financial legislation. Your job involves appraising customers of their options when purchasing or leasing a car.
This manager works with local banks and other financial resources to develop a list of financing options for customers.
By assisting the car sales department in providing excellent customer service, your duties will involve informing customers of insurance requirements for the vehicle of their choice.
As a Finance and Insurance Manager it will also be your job to run the customer’s credit report and to inform them of the best financing options for their needs. You’ll also need to inform the customer what the interest rate on their car loan is.
You will also need to analyse the performance of the dealership to help determine new sales goals.
Drawing up the credit agreement contract is the duty of the Finance and Insurance Manager.
To perform successfully as a Finance and Insurance Manager you need to be financially savvy and always willing to learn. You need to have excellent customer service skills and a working knowledge of the car industry. You need to be able to critically assess a customer’s financial standing, in order to be able to advise them on which type of finance deal will suit their needs.
You need to have thorough knowledge of financial regulations and how they will affect your customers.
You also need to be able to secure the best rates and terms from lenders, while simultaneously achieving company targets.