Finance & Insurance Managers
F&I Managers Close Sales & Boost Profit.
MOTiiV Can Help.
The Finance Department is the proverbial finish line of the sales process so the F&I Manager is one of the most important parts of any dealership. An effective F&I manager can ensure profitability and deliver additional revenue to your team. MOTiiV’s customized offerings provide an opportunity for F&I managers to better serve their customers with products and services that create value for the consumer and provide vital revenue streams to your dealership.
What Is A Finance & Insurance Manager?
A Finance & Insurance (F&I) Manager processes financing and leases at the end of a sale and offers valuable insurance offers, warranties, and aftermarket products to buyers. An experienced F&I Manager will ensure that customers receive the best possible financing, assuage any concerns, and make them aware of relevant additional offers. Over the course of a normal sales process a car dealership would have two or three chances to generate a profit: accepting trade-in vehicles, selling new or used vehicles, and financing the sale of a vehicle. The F&I Manager is able to greatly increase the number of opportunities by offering add-on products to customers at the end of a sale. For example, a customer who has chosen to pay for an upgraded tire package on their new vehicle might be interested in purchasing a tire and wheel warranty. MOTiiV can provide a vast array of options like these, including ancillary warranties, protection plans, and service contracts.
What Skills Does An F&I Manager Need To Have?
An effective F&I manager should have strong communication skills, a deep understanding of the entire sales process, and a background in finance. Dealership sales representatives rely on the F&I Manager to oversee the transition from Sales to Finance and close sales. The everyday responsibilities of F&I Managers can vary greatly based on the needs of different dealers, but common F&I Manager responsibilities include:
- Overseeing the transition of customers from Sales to Finance
- Managing the Finance Department team
- Processing financial transactions
- Ensuring compliance with local, state, and federal laws
- Providing support to the dealership sales team
- Developing new methods to provide value to customers and increase revenue
- Works with the Automotive Sales Manager to ensure coordination between sales and finance
- Providing exceptional customer service and ensuring satisfaction
MOTiiV Can Bolster Profitability Of F&I Managers
MOTiiV provides practical offerings that can multiply an F&I Manager’s opportunities for success. Customers evaluate dealerships based on the value they provide, so the opportunity to offer ancillary warranties and service contracts tailored to their needs is extremely helpful to a dealership. MOTiiV enables dealerships to create a situation where everybody can win: customers receive additional value, dealerships earn increased revenue, and the entire process makes it easier for an F&I Manager to find success. MOTiiV can provide services such as:
Ancillary Warranties Provide Increased Revenue
Did your customer splurge on a car with an exceptional paint job? MOTiiV can facilitate paint and interior protection as part of our Ancillary Warranty service. MOTiiV has a vast selection of ancillary warranty protections so that you can deliver individual products that meet the specific needs of your customers.
Vehicle Service Contracts Tailored To Your Needs
Service contracts are perhaps the most important product offered by an F&I Manager. MOTiiV can analyze and interpret the data from our dealership partners to ensure that every service contract is as cost-effective as possible. Service contracts available from MOTiiV include:
- Comprehensive Protection
- Overdrive Protection
- Excess Wear & Tear
- OEM Technology
Payment Processing, Insurance Services & More!
MOTiiV is truly a one-stop shop for automotive dealership service. Beyond ancillary warranties and tailored service contracts, we can also provide payment processing, insurance services, and even training & development for your team.
For more information, check out our dealership service pages or get in touch to get MOTiiV working for you.
Helpful information for F&I Managers from MOTiiV professionals.