Finance Manager

Mitsubishi Richmond; Richmond; On-site; CAD 80,000 - 200,000; Full time

Job summary

A dynamic automotive dealership is seeking a Finance Manager to join their team. The role involves selling finance and insurance products, managing lender relationships, and ensuring compliance with regulations. With unlimited earning potential and a supportive team environment, this opportunity is for enthusiastic and knowledgeable finance professionals ready to excel in the automotive industry.

Benefits

Excellent compensation package

Company events

Store discount

Qualifications

• 1 year experience in automotive finance required.
• Knowledge of prime and subprime options.
• Ability to provide sound advice to team.

Responsibilities

• Sell finance and insurance products to customers.
• Manage dealership finance relationships.
• Ensure compliance with lending regulations.

Skills

Automotive finance

Customer service

Coaching

Job description

It's All Good at Applewood!

The Applewood Auto Group is looking to add a Finance Manager to our team. This is a Fully Commission Independent Contractor Position.

Roles & Responsibilities:

• You'll report to the Finance Director and GM and will work with a team of Sales Consultants to ensure our customers' financing are taken care of.
• Selling finance and insurance products: The Finance Manager’s primary role is to sell finance and insurance products to customers purchasing vehicles from the dealership. This may include extended warranties, loan protection plans, and other products.
• Managing dealership finance relationships: The Finance Manager’s is responsible for managing relationships with lenders who provide financing to the dealership. This may involve negotiating terms and rates, processing loan applications, and ensuring compliance with lending regulations.
• Process paperwork and contracts: The Finance Manager’s will need to process paperwork and contracts related to vehicle sales, including financing agreements and insurance policies. This will involve working with salespeople and administrative staff to ensure that all required documents are completed accurately and in a timely manner within all portfolios or logs required.
• Customer Service: The Finance Manager’s will need to provide best-in-class customer service to customers who have purchased vehicles or financing products from the dealership. This will involve responding to questions and concerns, addressing complaints, and ensuring that customers feel valued.
• Ensuring compliance: The Finance Manager’s will ensure the dealership complies with all relevant laws, regulations, and processes.
• As a Fully Commission Independent Contractor, you have unlimited earning potential!

Measurables:

• Finance Department Gross Profit: This measures the profitability of the finance department by comparing the cost of financing to the revenue generated from financing activities.
• Finance Penetration Rate: This measures the percentage of customers who finance their vehicle purchases through the dealership's finance department, indicating how successful the department is in upselling financing options.
• Loan Approval Rate: This measures the percentage of loan applications that are approved, indicating the effectiveness of the finance department in securing financing for customers.
• Average Finance Time: This measures the amount of time it takes to complete the financing process for a customer, indicating the efficiency and effectiveness of the finance department in providing financing options.
• Product Sales Per Finance Contract: This measures the average number of additional products or services sold with each finance contract, indicating the effectiveness of the finance department in generating additional revenue.

Commission Payment:

As an Independent Contractor, you will be paid a variable commission payment plan. Provided you hit your targets, our Finance Managers can make anywhere between $80,000 to $200,000 annually. As an Independent Contractor, you are responsible for setting up your own Sole Proprietorship and registering to have a GST number. After which you are responsible for paying your yearly taxes as a Sole Proprietorship (or Corporation, if you so choose). It is generally advisable that you connect with a Tax professional to receive advice on how to handle this from the beginning of your contract with Applewood.

What we need from you:

You should have working knowledge of how the car industry works and would have worked as a Financial Services Advisor or Sales Consultant at another dealership. That way, you can provide sound advice and recommendations to your team. You know your way around prime and subprime options and are great at coaching people.

We are looking for someone who is enthusiastic, fast, efficient, knowledgeable, and ready to join an amazing team!

Why should you work for Applewood?

• Excellent compensation package, You are your own business!
• We stand out from the rest because we are TRULY PASSIONATE about cars!
• 10 dealerships and counting to work alongside and grow with
• Group events, Applewood Family Day, Xmas party, BBQs, and more
• We support local communities, sports teams, and charities.

Our Core Values

Best-in-Class Experience: We are committed to delivering a Best-in-Class experience to every team member and client that walks through our doors.

Find a Way to Say Yes: We take full ownership, embracing the responsibility to “Make Things Better."

Team Beats with One Heart: We are a close-knit group of professionals working towards the same goal of driving excellence in everything we do.

Benefits:

• Company events
• Store discount
• Schedule:
• Day shift
• Morning shift
• Weekends as needed

Supplemental pay types:

• Commission pay

Ability to commute/relocate:

• Richmond, BC: reliably commute or plan to relocate before starting work (required)

Experience:

• automotive finance: 1 year (required)

License/Certification:

• VSA License (preferred)