Finance and Insurance Coordinator

1 day ago

Makati City, National Capital Region, Philippines Auto Global Full time $40,000 - $60,000 per year

An Automotive Finance and Insurance (F&I) Coordinator is responsible for managing the financial and insurance-related aspects of vehicle sales at a dealership. This role involves interacting with customers, ensuring that financing options are available, and assisting in the completion of necessary paperwork.

Job Title: Automotive Finance and Insurance (F&I) Coordinator
Job Summary: The Automotive F&I Coordinator plays a key role in supporting the dealership's sales team by managing the financing and insurance processes for customers purchasing vehicles. This includes offering financing options, selling insurance products, ensuring compliance with financial regulations, and handling the necessary paperwork to finalize vehicle transactions.
Key Responsibilities:
  1. Financing Solutions:
    • Offer customers a variety of financing options, including loans, leases, and credit options from approved financial institutions.
    • Assist customers in understanding the financing terms, monthly payments, and interest rates.
    • Work closely with lenders to secure the best possible financing options for customers.
  2. Insurance Services:
    • Present and sell insurance products, such as vehicle protection plans, gap insurance, extended warranties, and other dealership offerings.
    • Explain the benefits and coverage of various insurance products to customers.
    • Ensure that all insurance products are compliant with dealership and regulatory requirements.
  3. Documentation & Compliance:
    • Prepare and review all financial and insurance paperwork required for vehicle sales, including contracts, loan agreements, and insurance forms.
    • Ensure that all documents comply with federal, state, and dealership regulations.
    • Collect and maintain accurate customer information, such as credit history and personal details, to support financing applications.
    • Process payments, down payments, and deposits in a timely manner.
  4. Customer Service & Communication:
    • Provide excellent customer service throughout the vehicle purchase process, addressing any questions or concerns customers may have about financing or insurance.
    • Work with customers to ensure they fully understand their financial obligations and product coverage.
  5. Reporting and Recordkeeping:
    • Maintain accurate records of all financial transactions and insurance sales.
    • Prepare reports for management regarding sales, financing approvals, and insurance products sold.
    • Track the status of financing applications and ensure timely follow-up.
  6. Collaboration with Sales Team:
    • Collaborate with the sales team to ensure that financing and insurance options are appropriately presented to customers at the point of sale.
    • Provide training and support to sales staff regarding financing and insurance products.
  7. Other Duties:
    • Stay current on industry trends, financial products, and regulatory changes.
    • Assist in resolving any customer complaints related to financing and insurance issues.
    • Perform additional duties as required by the dealership.
Qualifications:
  • College graduate of a 4-year course or equivalent; additional certifications in finance, business, or insurance are a plus.
  • Previous experience in automotive sales, finance, or insurance is preferred.
  • Strong knowledge of financial products, credit, and insurance services.
  • Ability to build rapport and communicate effectively with customers.
  • Detail-oriented with strong organizational and multitasking skills.
  • Proficient in dealership software and MS Office Suite.
  • Ability to work under pressure in a fast-paced environment.

Knowledge of state and federal financial regulations is preferred.

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