Training Manager
EFG Companies
When you think of an F&I manager’s responsibilities, what comes to mind? What do your sales people think the F&I manager’s responsibilities are? What do lenders think?
As a dealer principal or general manager, you probably think the F&I manager is responsible for increasing your gross profit, maintaining lender relationships, and ensuring compliance. And, that’s a fairly comprehensive outlook. Meanwhile, ask any sales person and they might say something more like this, “The F&I manager just sells products.” And, lenders might describe the F&I manager’s role as, “structuring financing arrangements”.
While each of these descriptions touches on some of the F&I manager’s responsibilities, they fall short in representing the total importance of an F&I manager’s position in dealership operations. And, while that’s not technically a bad thing for people to define F&I managers differently, giving everyone in your dealership a baseline overview of the F&I office’s function can actually help enhance dealership performance and foster a greater level of teamwork.
So, what exactly are the responsibilities of an F&I manager?