Used Car Finance Managers


Used Car Finance Managers

Arguably the role of “Finance Manager” is the most important job to the success of a used car dealer.

A good marketing manager can get all the customers in the world to visit the dealership, and a good sales manager can get all of the customers committed to buying  vehicles. But if the deal can’t be financed for one reason or another then nobody wins, not the customer, not the sales person, and not the dealership. And ultimately all 3 need to win to make for a great car deal. The customer needs to know they’re getting a great deal for a great price, the sales rep is probably on commission and needs to feed their family, and the dealership needs to sell to stay in business.

At the end of the day (or deal) it comes down to the finance manager to get the purchase financed, and to do it so that it’s agreeable for the customer.

All in all a good finance manager will be very good at multi tasking and dealing with several lenders at one time. Shopping rates to a lot of different banks till the correct bank is matched to a particular customer is an important aspect of his job. And with time being as precious as it is, it needs to be done in a fast yet professional manner, customers will not sit around all day waiting for banks.

A good finance manager will never take the first deal from the first bank that offers to finance the customer, just to make his job easier. He’ll shop it to several more banks challenging them to beat their competitors so that he can get his dealerships customers the best terms possible. Is this always do-able? Not 100% of the time, but still, a good finance manager will do it every time. There’s no way he knows how good of a deal he can get until he actually shops the loan… To death!

 

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