Tips Veterans Post 911 GI Bill F&I Training Finance Manager Training

Tips for Veterans Post-9/11 GI-Bill® F&I Training (Finance Manager Training)

The Post 9/11 GI Bill was created to provide education benefits for our Veterans who were on active duty for at least 90 days following on September 11, 2001, or later.

Qualifying individuals can use this bill to obtain funding for higher education, allowing them to enter a new field and/or advance an existing career. To use the Post 9/11 GI Bill to finance your education, follow the steps below.

Finance manager training with job placement assistance

1. Find out whether you qualify

Not every individual who has served in the military will be eligible for benefits under the Post 9/11 GI Bill. In order to qualify for these benefits:

  • You must have been on active duty on or after September 11, 2001.
  • Your qualifying active duty must also have lasted for at least 90 days, or you must have served at least 30 days before receiving a medical honorable discharge.

If you meet these requirements and don’t want to claim the benefits for yourself, you may be able to transfer them to a qualifying dependent, such as a child or spouse.

 

2. Know how much you will receive

The amount of benefits you will qualify to receive depends on how long you spent on active duty. The longer you spent on active duty, the more benefits you will receive.

Exceptions are made for individuals who were on active duty for a shorter period of time but received an honorable discharge because of a service-related injury.

3. Know which expenses are covered

Understanding how your benefits can be used is essential as you plan your education and your future career. Some of the expenses that may be covered by Post 9/11 GI Bill benefits include:

  • Up to 100 percent of your tuition and associated fees.
  • The cost of housing while in school.
  • The cost of relocation when no suitable educational institutions are available nearby.
  • Up to $1,000 per year for books and other educational supplies.

4. Find an appropriate school

The benefits available under the Post 9/11 GI Bill can be used at a variety of institutions, including both public and private schools.

Although most people receiving benefits under this bill choose to attend more affordable programs, even some of the more expensive private schools have become accessible to benefit recipients because the Yellow Ribbon Program, which requires these more expensive schools to waive some of their fees.

Before applying for admission to any school, be sure to verify that the benefits you receive under the Post 9/11 GI Bill can be used to cover the cost of programs at the institution of your choice.

It is also important to verify that the maximum amount of benefits you can receive will be enough to cover the total cost of your education. If your benefits won’t be sufficient, make sure you have a plan to pay the remainder of these costs on your own.

 

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5. Find an appropriate educational program

Money available under the Post 9/11 GI Bill can be used for virtually any type of educational program.

Although many people who receive benefits under this bill decide to enter higher education programs that end in an associate’s, bachelor’s or even more advanced degree, other types of training are also covered by this bill.

Other types of training that may be covered under the Post 9/11 GI Bill include:

  • Tutorials
  • Correspondence training
  • Work studies
  • Certifications and licensing programs
  • Apprenticeships
  • On-the-job training
  • Vocational programs
  • Technical school programs

With so many options available to qualifying veterans, it is possible for almost anyone to find an educational plan that meets his or her needs.

Even people who have already completed one or more educational programs can find an option that will allow them to advance their careers after leaving the military.

F&I Manager training in 2022

Best auto finance training F&I training in 2022

6. Consider a career in the automotive industry

The automotive industry is currently in need of more workers, especially in the area of finance and insurance. The automotive industry as a whole has grown significantly in recent years, and this growth is expected to continue.

Thousands of dealerships are open all across the United States, and these dealerships sell millions of cars every year.

Within this industry are a variety of careers, but positions in car dealerships’ finance and insurance departments are particularly beneficial for people who have left the military and are looking for a career change.

Individuals working in these positions spend their days helping customers to find the financing and insurance coverage they need to help them purchase the car they want and protect the asset in the event of an accident.

Auto dealerships rely on these individuals to make money in the form of interest, thus increasing the dealership’s profits.

7. Apply for benefits under the Post 9/11 GI Bill

Once you have determined whether you qualify for benefits, found a school and chosen a program, it is time to apply for benefits under the Post 9/11 GI Bill.

You can apply for these benefits by submitting the required information online or by visiting a local VA office to complete the application with professional assistance.

Alternatively, you can call the U.S. Department of Veterans Affairs and request a paper application to be sent in the mail.

8. Consider enrolling in the F&I program at ADI.

If you have decided to work toward a career in the automotive industry, you will most likely need professional training.

If you have decided to pursue a career in finance and insurance, you can find the training and education you need from the Automotive Dealership Institute, or ADI.

Not only can we provide you with all of the skills and knowledge you need, but we also make it easy to complete the enrollment and training process.

ADI is the only government-approved, licensed finance and insurance school in the United States.

It is also the only finance and insurance school that can accept benefits awarded under the Post 9/11 GI Bill.

Not only can you pay for all of your school expenses with this bill, but ADI will even help you complete all of the necessary paper work to be sure that you get the financial assistance you need.

Once you have applied for benefits under the Post 9/11 GI Bill and received an approval, you can get started on your F&I program immediately.

The program requires 160 hours of study that take place over a period of four weeks. All classes are scheduled during the work week so students can have free time on weekends.

Once the program is complete, ADI will assist the graduate in finding a job. We offer job placement services all across the nation.

We have a placement rate of more than 90 percent within the first three months after program completion. Our graduates enjoy an average income of more than $140,000.

If you are a veteran who qualifies for educational assistance under the Post 9/11 GI Bill and you are interested in using these benefits to complete the finance and insurance program at ADI, please contact our institution today to get started.

We will be happy to answer any questions you may have about the program and/or help you begin the Post 9/11 GI Bill application process.

See what our GI Bill/VA graduates are saying about ADI

 

Finance Manager Training School

Finance and Insurance (F&I) Manager education and training requirements

Finance and Insurance (F&I) Managers in an automotive dealership are responsible for auto loan processing on behalf of customers as well as providing a fully transparent selling process and loan application processing with lending institutions, often with as many as 20+ or more lenders. 

This is a position that offers an opportunity to grow your career as an F&I Manager and accelerate as far and fast as your talent and your desire allows.

What are the main job requirements for an F&I Manager?

Most dealerships require the following in an F&I applicant:

  • High school diploma or equivalent
  • Proven ability to provide an exceptional customer experience
  • Ability to set and achieve targeted goals
  • Highly detail-oriented and organized
  • Prior sales experience preferred but not required
  • Can demonstrate communication, consultative, interpersonal and organizational skills
  • Experience and desire to work with technology
  • AND certification/diploma from a reputable F&I Manager Training School

When you make a decision regarding your future, one of the most critical elements you must consider is what type of school you will go to.

Whether right out of high school or even once settled into a career, many people seem to only think about the larger colleges as options to further their education.

However, trade schools are an excellent alternative to more traditional and expensive college/university options.

 

Finance Manager Training Courses

Length of Education

While younger adults may not feel in a rush to finish their education and start on the path to their chosen career, those who are making a career change later in life or who are eager to start earning the money they need to support their families, trade school can be a great option due to the short amount of time it takes to complete your education.

finance manager training job placement

If you were to attend a traditional school, you would likely need to complete four years of schooling in order to obtain a bachelor’s degree.

For those who wish to pursue their career field even further, additional years may be required. However, when you attend a trade school for something like finance and insurance, you can complete your education in a much shorter period so you can begin working in your career field, earning the wages you need for a comfortable life.

In fact, some programs can be completed in as little as a few weeks.

F&I school the most respected and trusted in industry

Substantially Lower Cost

Have you ever looked at colleges across the country to determine how much your education may cost over a 4-year course?

Whether you look at larger private institutions or you were considering public colleges, you may find the tuition costs thousands of dollars each year with private colleges charging significantly more for an education. On top of that, you need to pay for books and materials and potentially room and board if the school you choose isn’t close to your home.

F&I schools are often either located close to where you live or provide you with the opportunity to complete your courses from the comfort of your own home on your own time through online classes.

Because of these options and the short time during which you complete your coursework, the cost of a trade school is often much less than traditional schools, allowing you to embark on the career of your choice without going into severe debt that must be paid off for many years after your education is finished.

With training at The Automotive Dealership Institute, you’ll get the best possible training to prepare you for a lucrative career in automotive finance.

 

Rate of Graduation

Another factor many people must consider when it comes to attending a traditional school is the rate of graduation. Many traditional colleges have a high drop out rate for a number of reasons.

Finances are just one.

The stress of attending college, along with the large number of classes required and the amount of time it can take to complete an education, can all lead to individuals dropping out and going into the workforce early.

This often leaves individuals working jobs that aren’t as fulfilling and don’t provide as many financial benefits as they would have gotten should they have completed their degree.

Because of the amount of work required for a bachelor’s degree, those who find they must also work full time while they attend school may also take longer than the typical four years to complete their degree, further delaying their opportunity to work in their chosen career field.

Trade schools often have a much higher graduation rate and individuals often can easily complete the coursework in a timely manner, even with the other obligations they may have in their lives.

F&I Meaning

Earn a Good Salary (NADA average: $142k+)

While any degree can help you earn better wages once you do embark on your chosen career path, trade schools can help get you started much more quickly.

Many career fields require working for a while as you build up your experience and slowly begin to earn more.

However, when you choose a field that can be fulfilled by attending a trade school, you can expect to earn higher wages from the start.

These careers are often in high demand and may be often overlooked, which means those who enter the career field will be able to secure better paying jobs, even upon their initial graduation.

Finance manager training with job placement assistance

A Specialized Education

Another great reason to choose a trade school over a traditional college is you will receive a specialized education designed specifically for the career field you are considering.

In many cases, traditional colleges require a core curriculum that may not align with what you plan to do with your life. This can lead to spending a lot of time in classes that have no bearing on your ability to do your job, wasting both your time and your money.

Instead, trade schools only require you to take classes that train you how to do your job so you can begin working in your field while earning the money you deserve for doing the job. This means less time wasted on courses that won’t provide a benefit to you in the future.

Job Security

Going back to the fact jobs that typically follow a trade school education are in high demand with fewer people pursuing them, individuals who complete this type of coursework can sometimes also enjoy greater job security than those who enter more competitive fields.

Due to the specialized training they receive, they will be armed with the hands-on skills and knowledge to perform the work properly and earn themselves a good income in a much shorter period.

They are much less likely to lose their jobs, giving them a level of security for a solid financial future, both while on the job and afterward into retirement.

Job Placement Assistance

Although it’s typically available at traditional schools as well, job placement assistance is often easier to receive for those who attend a trade school.

This is because trade schools usually have a smaller student body and can provide more personalized service to each of their students.

This allows them to take into account an individual’s unique abilities and carefully pair them with jobs that are best suited to those skills. They typically work with many local companies to help them fill positions with highly qualified new graduates.

Work Around Your Schedule

When you complete your education through a trade school, you may be able to complete the coursework on your own time.

In fact, many of them offer online classes so you can go through the course material when it’s convenient for you from anywhere with an internet connection.

This means you can get your work done at your own pace so you can take care of the other responsibilities you may have in your life, including family and a job.

This makes trade schools ideal for those who may be older and are looking to either make a career change or gain the knowledge needed to advance their career.

If you’ve made the decision to go into the field of finance and insurance in the automotive industry, it’s important to make the right choice when it comes to where to get your education.

While you can get this type of education at a more traditional school, it is often best to choose a trade school for many of the reasons listed above.

At Automotive Dealership Institute, you can get the education you need to work in the automotive industry and start on a career that offers a good quality of life and the job security you need for a solid financial future.

finance manager training certification

Learn more about the F&I training program at ADI

If you are considering becoming an F&I Manager and work for a car dealership, Auto Dealer Institute can help. We provide Auto F&I Manager Training courses and we are the only licensed, independent F&I Training center in US. or over 32 years. Our Automotive Finance and Insurance Management training program has been teaching students the necessary skills to become a successful automotive finance and insurance manager, internet sales manager, desk/sales manager, or dealer representative.

What is the difference between an automotive dealership institute and other F&I Manager Training Schools

What is the difference between Automotive Dealership Institute and other F&I Schools?

Admittedly, other F&I online course websites (who may occasionally call themselves ‘schools’) get this question asked all the time from potential F&I students. The answer is obvious.

Simply put, Automotive Dealership Institute is the most respected, trusted, and the only licensed and independent F&I school in the USA, with over 32 years hands-on training experience, teaching students the necessary skills to become a successful automotive finance and insurance manager, internet sales manager, desk/sales manager, or dealer representative.

What makes Automotive Dealership Institute the most respected and trusted in industry?

The most in-depth knowledge and hands-on practical experience and classroom simulation that makes students so valuable to dealerships that has resulted in our job placement assistance program (audited) perform over 90% job placement rate within 90 days of graduation across all 50 states.

This is unmatched, and unbeatable by any other online course study method, which most often lack in-depth training with industry experts and leading F&I instructors in the USA.

Among many industry experts at the Automotive Dealership Institute (ADI), two of the most respected industry experts include: Arzu Algan, Dean of Education, and Cheryl Piantedosi, President of the Institute.

best online F&I finance manager training schoolDean Algan is responsible for developing and structuring the ADI’s course curriculums. She holds instructor and associate director certificates from the BPPVE, who had previously served as director of education at two F&I schools.

She is a highly experienced F&I director who was responsible for lender relations, contracting and cash management at a large automobile dealership.

Dean Algan studied at Northwood University, majoring in Automotive Marketing and Management.

She serves on the board of teaching faculty for the Banking Academy – Education Centre for Practicing Professionals.

 

Ms. Piantedosi has 30+ years of experience in the automotive field as General Manager, General Sales Manager, Sales Manager and Finance Manager. She is responsible for instructing ADI’s Automotive Finance Management program. Her unique experience in Saturn of Scottsdale for 9 years – first as a Sales Manager, then as a General Manager has given her incredible insight into F&I trade. Ms. Piantedosi’s other prior experiences include; Beaudry Motor Company, General Manager of Saturn of Tucson, Sales /Finance Manager of Mitsubishi Division and Fleet Sales Manager of Automotive Division.

Along with other experts at the Institute, these two F&I training innovators have made incredible contributions to course training, including full line of F&I products, adherence to complex laws and regulations compliance, product merchandising, branded F&I products, and F&I product reinsurance.

F&I school the most respected and trusted in industry

Optimizing the Auto Dealer F&I department is the most effective and reliable method to increase dealership revenue and overall profitability. Post-COVID era is wreaking havoc with decreasing profit margins and semiconductor or other supplies shortages. Smart dealerships utilize an aggressive focus on F&I product sales to combat shrinking profits.

Failing to optimize your F&I processes through hiring the best trained F&I Managers will translate in lower profits and lost competitive advantage. That is precisely why highly trained F&I Managers who receive the best-in-class training from Automotive Dealership Institute have a 90% job placement success upon graduation.

training with industry experts and leading F&I instructors in the USA

With training at The Automotive Dealership Institute, you’ll get the best possible training to prepare you for a lucrative career in automotive finance.

 

 

If you are considering becoming an F&I Manager and work for a car dealership, Auto Dealer Institute can help. We provide Auto F&I Manager Training courses and we are the only licensed, independent F&I Training center in US. or over 32 years. Our Automotive Finance and Insurance Management training program has been teaching students the necessary skills to become a successful automotive finance and insurance manager, internet sales manager, desk/sales manager, or dealer representative.

Finance Manager Job Description, Salary, and Training

Finance Manager Job Description, Salary, and Training

A certified auto finance manager can make pretty good money. Here we will discuss Finance Manager job description, salary, and training for those who are interested in a very lucrative career in the Automotive industry.

Income for an auto finance manager (also known as F&I Manager) often range above $100k-$400k depending on where you live (New York or California), and your level of knowledge and experience.

By comparison, an Automotive General Sales Manager has a salary range of around $100,000-$178,000 per year plus bonuses and Automotive General Manager has a salary range of $58,000-$175,000 per year.

In New York city and Los Angeles, an experienced knowledgeable Auto F&I Manager can earn up to $400k per year. As a matter of fact, this position is the one of the best paid in an automotive dealership.

There reason this position often demands a high salary is because a skilled auto finance and insurance manager can create profit for the dealership and hence they are are rewarded with a commission-added salary.

And with the help of the latest F&I software, and an excellent training from a nationally recognized F&I School like Automotive Dealership Institute, even less experienced finance and insurance managers can perform at high levels and earn high income.

Finance manager training with job placement assistance

Finance manager training and certification (Certified F&I Manager)

Starting out at a salesperson at a dealership is a good first step.

Once you have a good track record of sales success, you may be able to get a position as a finance and insurance manager.

But, you’ve got to be on top of your game. Always treat customers with respect, maintain a professional persona and keep learning.

While having a degree in finance or accounting may help you land your first gig, getting a certification as a finance manager will give you the specific knowledge and skills to get your foot in the door.

Finance manager training online

This type of certification will make you stand out from the crowd.

The Automotive Dealership Institute offers certification in automotive finance management both in-classroom and online.

This curriculum is organized into four modules and covers a variety of topics, including finance software, laws mandated by federal agencies, structuring special financial deals, menu selling, dealership retail operating systems and finance menu presentation.

And if you choose online training, modules can be paused, and you can work at your own pace. Telephone support is also available to online learners.

Each section has many interactive features with voice over, printable books, graphics and examples of real-life situations. All that is needed is a high school diploma or GED along with good math and writing skills.

 

Finance Manager Salary range

Student loans and financing options are also available. Whether you choose online or in-classroom learning, you’re given job placement assistance across all 50 states.

The Automotive Dealership Institute has a 90 percent job placement rate within 90 days of graduation and will do everything possible to help you land that dream job soon after getting your certification.

The program at The Automotive Dealership Institute also qualifies for VA educational benefits. Post 9/11 vets can apply for full tuition coverage, in addition to travel expenses.

So, how much will you make as a finance and insurance manager in the automotive industry?

According to the National Automotive Dealers Association, around $142,000. Finance managers are paid higher or less than the average based on where they are located.

They are paid the most in the West South Central area of the Unites States, at 114% of the national average.

 

Finance manager training certification

 

This region covers states including Texas, Oklahoma and Louisiana. F&I managers earn the least in the East North Central region at just 87% of the average.

This is the ‘Rust Belt’ area of the country including states like Michigan, Wisconsin and Ohio.

That’s not bad for just four weeks of classroom training. Car sales in all 50 states are also on the increase. Dealerships sell over 17 million cars a year and new car dealerships are on the uptick also.

Auto Finance Managers Role?

A successful F&I manager needs the product knowledge, professionalism and empathy that customers look for today.

To be a successful F&I manager you must be have knowledge, skills, and the right personality.

Auto finance managers help customers obtain financing for both new and used car purchases.

They work with financial lenders to get clients the best possible interest rates while still generating a profit for the dealership and are expected to maintain high ethical standards. Duties include:

  • Offering car financing to clients while explaining extended service contracts, dealership service procedures and aftermarket products.
  • Processing leasing and financing deals while securing approval through different channels.
  • Creating a program with the sales department for direct referral to them.
  • Understanding and following local, state and federal laws with regard to the automotive industry.
  • Training and motivating the sales team with the leasing and financing programs available at the dealership.
  • Providing the sales team with support.
  • Increasing profits for the car dealership.

What After-Sales Products Do Finance Managers sell?

A finance manager may sell extended service contracts and maintenance plans, among other products.

Plans offered include bundle oil changes and are usually limited to the dealership’s service department. Anti-theft products may be promoted also, including GPS locators, VIN etching or car alarms.

Combo warranties include damage to the wheels or tires to cover bad luck with potholes. The pain and fabric protection coverage is an added chemical sealant to the paint or fabric.

A finance manager may also offer gap insurance. This pays off the difference between what the car is worth and what a customer may owe after a collision.

Primarily for leases, excess wear and use protection, protects in the event of scrapes or a few dents.

Credit insurance plans are designed to help customers make car payments if they lose their job or are unable to make a payment due to illness.

 

The Future for Finance Managers:

The future is looking bright for finance and insurance managers.

As a matter of fact, it’s a golden era for this career. Car dealerships are driven by easy credit and low interest rates, and the market is ripe for that.

And the benefits of being a finance and insurance manager are many. You’ll be offered similar benefits as any other full-time corporate position.

In addition to a good salary, you’ll get retirement plans and health and dental insurance plans. Plus, many dealerships offer compensation benefits for each completed finance loan and the sale of after product plans.

If you’re considering a career in F&I, be sure to carefully consider the F&I training programs at The Automotive Dealership Institute.

Get trained by the best in the industry to launch your new career. Call 1-877-998-7200 to get more information or feel free to visit the F&I Training overview page on the ADI website.

The Automotive Dealership Institute is a certified institution that has integrity and qualified faculty.

With training at The Automotive Dealership Institute, you’ll get the best possible training to prepare you for a lucrative career in automotive finance.

 

 

If you are considering becoming an F&I Manager and work for a car dealership, Auto Dealer Institute can help. We provide Auto F&I Manager Training courses and we are the only licensed, independent F&I Training center in US. or over 32 years. Our Automotive Finance and Insurance Management training program has been teaching students the necessary skills to become a successful automotive finance and insurance manager, internet sales manager, desk/sales manager, or dealer representative.

Other articles you may be interested in, include: 1) F&I Process Management Trends; 2) 9-11 GI Bill Veterans benefits for education cost and finance manager training courses; 3) Auto sales lead generation techniques and trends; 4) The best and top 10 car sales professionals in the world; 5) Auto finance and insurance products and opportunities; 6) Electric Vehicle (EV) $7,500 federal tax credit; 7) Digital Edition of The Encyclopedia of Finance & Insurance Management; 8) Auto F&I finance manager training course financing options; 9) How to be a great auto sales professional; and 10) Auto Finance Manager Training Testimonials

Remote learning F&I

F&I Training Online – Best Finance Manager Training

Auto Finance and Insurance for dealership profitability

New finance and insurance opportunities for auto dealers

New York auto dealers, in particular, are requesting more auto finance and insurance (F&I) sales training for their Auto F&I Finance Managers as consumer preferences trend toward an omni-channel sales and financing experience. This brings challenges as well as opportunities for all auto dealers, not just the ones based in New York state.

But what if F&I Managers need more training or need to get a formal refresher course to be able to meet the challenges of the new trends?

Since the beginning of Covid, car buyers have resorted to less showroom visits and more online research. These buyers are highly engaged on social media and on new consumer sites that discuss their topic of choice or car model. They’re spending their free time thinking and talking about a car model you sell in your dealership. This is where an omni-channel sales campaign will results in exploring new possibilities.

auto finance and insurance (F&I) sales training for their Auto F&I Finance Managers

These same potential customers are also looking at F&I products. This offers new avenues of engagement and discussion. You’ve got an opportunity here to tap into some real insights from the people who discuss your products who may also be considering a change in their preferences. You can watch, learn, engage, ask for feedback, and then actually use the engagement to market your F&I products.

New groups are forming in New York state with the intention to help auto dealers in the state to achieve “frictionless” experience for car buyers. These new social groups intend to connect dealers from across the state to help each other overcome hurdles and grow together as an industry, and promote F&I products (and reduce complexities of auto purchasing) on an informative basis focusing on educational guidance and insight.

The goal is to provide dealers with immediate access to resources and strategies for F&I Managers, as well as receive news and insight directly from the local source that is focusing on customer needs and purchasing behavior.

There are also automotive conferences planned in the near future to promote changing trends in the way car buyers view and purchase F&I products. The conferences are intended to allow dealers to consistently share best practices and ideas.

This will allow automotive brands have the opportunity to explore trends and engage with audiences and build fan communities in a way that just wasn’t possible before. Prior to Covid, the industry was predominantly: “look, feel, and touch”, unless car buyers were simply buying a car they already had owned before and were very familiar with it.

In fact, other states are also looking for ways to bring together their statewide dealers or even nationwide dealerships to effectively exchange the knowledge gained from an active community which contributes to the development of its F&I products through omni-channel sales process.

This offers a completely new opportunity to sell cars and F&I products by focusing pre-sales solely on providing useful content, information, tips and engaging car buyers to share their knowledge and help each other exchange needs and wants.

While auto dealerships are experiencing some decreases in foot traffic, online traffic has grown quite dramatically, with dealerships reporting industry web traffic increasing by almost 20% and web leads increasing by over 14% compared to pre-pandemic 2019.

F&I managers are taking refreshers courses to help the dealership prioritize messaging for F&I product sales. Well trained F&I managers know the importance of staying in front of your market with a caring, community-first approach, positioning your dealership for exploring the new trends opportunities.

For most dealerships F&I department is an essential part of their profitability. The F&I managers are hard-working, talented professionals in the auto industry workers.

The Auto Finance and Insurance with the Auto Industry generates plenty of employment opportunities every year for auto F&I managers. And this trend will continue to grow. Job postings for F&I managers in New York offer compensation anywhere between $200,000 and up to $400,000 per year.

Some auto sales professionals may aspire to make their career in the sales department and become salespeople. As they have traditionally, they might aspire to sell cars to the potential clients that are showing interest in buying their cars.

However, the entire career of an individual aspiring to work in the Finance & Insurance department of a dealership depends on skills. In this Industry, you have to develop skills and keep improving every day.

How to start a career in Auto Finance & Insurance (F&I)?

To take advantage of new opportunities in the field of Auto Finance & Insurance, you most probably need to opt for some formal professional training.

Opting for some training courses such as Finance manager training courses can actually boost your chances of becoming an auto finance manager and starting your new career. Courses for finance manager training will develop your hands-on skills and get you ready for your new job. These courses help you to use your potential to its fullest and aid you in achieving your goals and you will also get job placement assistance (depending on the school you attend).

Automotive industry experts believe that F&I product sales will remain healthy and growing throughout this year and for the next couple of years. Some surveys suggest that dealerships forecast that the Auto Finance and Insurance industry staffing will grow as much as 25% this year.

Auto dealerships, especially in New York state, are going to be highly focused on growing their profitability through collaboration. Other states, will follow soon, no doubt.

If you are interested in a career as an F&I Manager, you can CONTACT us to discuss our finance manager training courses. Our audited job placement assistance program has an over 90% job placement rate within 90 days of graduation across all 50 states.

 

 

If you are considering becoming an F&I Manager and work for a car dealership, Auto Dealer Institute can help. We provide Auto F&I Manager Training courses and we are the only licensed, independent F&I Training center in US. or over 32 years. Our Automotive Finance and Insurance Management training program has been teaching students the necessary skills to become a successful automotive finance and insurance manager, internet sales manager, desk/sales manager, or dealer representative.

Other articles you may be interested in, include: 1) F&I Process Management Trends; 2) 9-11 GI Bill Veterans benefits for education cost and finance manager training courses; 3) Auto sales lead generation techniques and trends; 4) The best and top 10 car sales professionals in the world; 5) Auto finance and insurance products and opportunities; 6) Electric Vehicle (EV) $7,500 federal tax credit; 7) Digital Edition of The Encyclopedia of Finance & Insurance Management; 8) Auto F&I finance manager training course financing options; 9) How to be a great auto sales professional; and 10) Auto Finance Manager Training Testimonials

Finance Manager Training Courses Online in New York City, New York (Auto F&I)

New York F&I managers are among the highest paid in the US

Finance and Insurance Manager (F&I Manager) offers finance and/or insurance options to clients at auto dealerships at the time of purchasing a vehicle. The F&I Manager reviews credit options, discusses credit decisions, offers aftermarket products or warranties, and submits deals to lenders for approval and helps bridge the lender of financing with the car buyer (like reviewing lender requirements and approvals and handling the paperwork process). While these individuals often have $100,000+ or more salaries, in New York F&I Managers are among the highest paid in the nation – some get paid as much as $350,000 or more.

The relationship between businesses and their employees is undergoing a profound shift since COVID. Employees are demanding better working conditions and higher salaries. For the first time in a generation, workers are gaining the upper hand.

New York F&I Training Courses (Auto Finance Manager Training Courses Online)

The change is broader than the pandemic-related signing bonuses. Employers are asking themselves if they will be able to create conditions attractive enough to find the staff they need to operate their business.

Companies are going to have to work harder to attract and retain talent. Before we talk in more detail regarding changes in law, let’s take a look at a few current jobs being offered for Auto F&I Managers in the New York area.

Acura of Westchester (Larchmont, NY) is in need of a finance manager for their growing business, and are offering up to $350,000 annually (plus 401k plan, Medical, dental, and vision insurance, Vacation pay, and Family-oriented work environment).

The job involves: acting as liaison between the dealership and the lending partners utilization of a menu-based selling process, presenting financial services products in a transparent way to every customer, ensuring adherence to F&I reporting requirements of company, and be an example of professional morals, ethics and excellent customer service.

While New Country Motor Car Group (of Lexus of Great Neck – Great Neck, NY) is offering up to $120,000, but they offer incredible benefits including paid training and long term job security. The responsibility of their F&I Manager is to help customers arrange the financing of their purchases and also present them with additional products that enhance their vehicle and ownership experience.

Garden State Honda (Clifton, NJ) is offering $150,000.00 – $200,000.00 per year for an F&I Manager to sell finance, aftermarket products and extended service contracts to all customers, obtain finance approval from lending institutions on all finance/lease deals, build and maintain positive relationships with all bank and lending institutions, and prepare and maintain F&I daily operating control.

The Automotive Hyundai/Kia Brooklyn dealership (Plaza Auto Mall – Brooklyn, NY) is currently seeking a dedicated F&I individual who wants an opportunity for professional and financial growth. They are in need of an Automotive Finance & Insurance Manager, offering up to $200,000 plus benefits, to someone who can meet dealership sales and F&I goals while maintaining high customer satisfaction Index scores, processing loan/titling and miscellaneous documents efficiently.

Darcars Lexus of Englewood (Englewood, NJ) offers up to $250,000 Annually (plus benefits) as they are currently looking to hire an automotive Finance and Insurance Manager, who would be responsible for managing the financial transaction of the vehicle buying experience for each customer of the dealership in person and virtually using online digital buy software.

Town & Country JCDR (Levittown, NY) is offering Full-time $150,000-$200,000 a year for an Automotive Finance Manager (plus benefits). This Jeep Chrysler Dodge Ram dealership is looking for a computer savvy F&I Manager who is well versed in banking deals, DMV, and aftermarket products.

Tri-County Lexus (Little Falls, NJ), as well as Empire Chevrolet Of Hicksville (Hicksville, NY), are both offering as much as $200,000 per year to hire an F&I Manager for their finance and insurance department.

Why suddenly, F&I Managers are offered 30%-100% increase in paid salary, and in some cases, even more?
Partly because of COVID, and partly because some dealerships have introduced an aspect of remote management (at least potentially).

For instance, Planet Honda is looking for Finance Managers who will be responsible for many aspects of a traditional F&I position with more focus on remote customers, not just walk-ins. These customers will never enter the dealership, so all paperwork will be sent digitally or mailed. So the Finance Manager will be involved in selecting and describing the lender programs and help facilitate the paperwork signing.

But apart from COVID, and remote management, there is a new law in New York regarding transparency of salaries. This has opened up salary comparisons more than before. Not just in New York City but also surrounding areas where commuters can also compete for job vacancies.

New York City businesses are now faced with a law that would require them to publish salary ranges on job ads, intended to close the racial and gender wage gaps. This is meant to create more transparency.

The legislation was approved by New York City Council in December 2021, became a law when Mayor Eric Adams declined to veto it by January 2022.

New York City is the second jurisdiction behind Colorado, requiring wage transparency in job posting ads. Eight other jurisdictions: California, Connecticut, Maryland, Nevada, Rhode Island, Washington, Cincinnati, Ohio, and Toledo, Ohio, require that employers disclose wage ranges upon request, and may entirely opt to join New York City and specifically request salary range. Several other jurisdictions are considering similar legislation this year, to disclose upon request.

In today’s tough labor market, dealerships are faced with the challenge of not being able to hire the candidates they are looking for, or have to pay higher salaries.

Auto F&I Manager, is an essential role in a car dealership and paying a higher salary is a palatable option (may by even unavoidable) for dealership owners.

But probably more importantly, dealership owners know how important the role of a F&I Manager has become.

As the auto dealership industry becomes highly competitive due to decreasing inventory resulting from supply chain issues and semiconductor shortage problems, amid continuing vehicle purchases, the F&I manager holds the important role that separates a dealership store from the rest of its competitors. Aware of various financing and insurance options, programs, profit-margins, and promotions, the auto finance manager can craft an attractive financial package for prospective car buyers and help dealerships earn more and achieve profitability despite inventory shortages. This certainly justifies salary increase to help keep dealerships profitable.

If you are considering becoming an F&I Manager and work for a car dealership, Auto Dealer Institute can help. We provide Auto F&I Manager Training courses and we are the only licensed, independent F&I Training center in US with more than 32 years of experience. We help you with job placement as well as ensuring that our comprehensive sales training courses can provide you with what you need to learn to grow and adapt in a rapidly changing marketplace.