F&I Manager

The automotive finance and insurance manager, or F&I manager, position pays the highest average wage second only to the General Manager of the dealership per the National Automobile Dealer’s Association dealership income studies. F&I managers earn over $140,000 per year on average. F&I managers confirm the final sales figures with the customer are accurate, prepare lending and vehicle registration paperwork, ensure documents needed for fast funding from lenders are in order, and offer vehicle service contracts, insurance or aftermarket products to consumers to help protect their purchase – all while ensuring 100% customer satisfaction with the customer before they leave the dealership. A solid understanding of DMV laws, Compliance and Ethics guidelines, Federal and State regulations, DMV and contract forms and required disclosures, loan underwriting guidelines, credit bureau interpretation, loan stipulations, dealership sales and desking procedures, deal structuring, special finance lending, guidelines, deal structuring and regulations, combined with exceptional interpersonal, organizational, and presentation skills are essential to being a top producing F&I manager at a new or used car dealership. College-level online F&I, or automotive finance training, can prepare individuals for this career. For those with no prior automotive sales experience, college-level sales, sales management, desking and leadership training is also required in order to receive the College’s recommendation to partner employers that prefer to hire CAM trained graduates for F&I manager positions.