July, 2023
The role of a Finance Manager is pivotal in any dealership. You’re not just managing numbers—you’re managing relationships, customer experiences, and ultimately, your dealership’s profitability. However, becoming the favorite Finance Manager—the one salespeople trust, the one customers rave about, and the one management relies on—requires a few key moves. These strategies go beyond numbers; they’re about building respect, leadership, and efficiency into everything you do. Here are three proven moves that will help you rise to the top and become the Finance Manager everyone wants to work with.
1.) Have an Open Door Policy
A Finance Manager’s success isn’t just about running numbers and completing deals. It’s also about how well you work with your sales team. Many Finance Managers isolate themselves, thinking they’re too busy for the constant stream of questions or interruptions. But here’s the truth: Salespeople are your lifeline. Without them, you have no deals. An open door is essential.
I once saw a Finance Manager do the exact opposite. He had two signs on his door—one instructed salespeople to knock and wait for permission before entering, and the other told the back office to stay out. He was frustrated and under pressure, sure, but he also thought the world was out to get him. His attitude was summed up by one of the signs: “You’ll get my deals when they’re ready, unless you want to help me pack them.” This kind of isolation and frustration creates a toxic environment. He remained in the same position for years, tolerated but never respected.
Now, imagine the alternative: a Finance Manager with a genuine open-door policy, who is happy to help salespeople with questions, advice, and guidance. Yes, there are boundaries—no salesperson should interrupt a deal in progress—but when you’re free, you should welcome interaction. Salespeople are your partners in the deal. If they feel comfortable approaching you, you can gain their respect and cooperation, which will make your job easier in the long run.
When you help salespeople, you’re indirectly helping yourself. They will bring you more deals, give you the information you need, and trust you with critical situations. This dynamic also creates an environment of mutual respect, where you aren’t seen as a superior but as a partner in their success. Salespeople who trust you will work harder to help you succeed as well, ensuring a smoother and more profitable process for both sides.
Actionable Tip: Make yourself approachable and available to your sales team. Encourage them to seek advice or ask questions—without disrupting active deals. Build a reputation as a Finance Manager who is there to help, and watch as they begin to rely on you more, bringing more deals your way.
2.) Step Up to T.O./Second-Face Deals
A crucial part of being an effective Finance Manager is being willing to second-face deals. Too often, I hear about Finance Managers who don’t step in to save a deal when the sales team is struggling. But offering to take a second swing at a difficult customer can make you invaluable in your dealership.
Imagine this scenario: a customer is about to walk out the door, and the closer or Sales Manager can’t seem to seal the deal. Instead of sitting back, be the Finance Manager who says, “Let me take a swing at this before they leave.” Even if you don’t close the deal, the act of stepping in will resonate with your team. It shows you’re willing to help, even when the deal isn’t directly yours. That type of teamwork builds trust and loyalty.
Approaching this with humility and a genuine desire to help your fellow team members is key. Don’t swoop in arrogantly, but rather offer your assistance in a way that benefits both the salesperson and the dealership. A well-handled second-face attempt could save a deal that seemed lost, and even if you don’t close it, your colleagues will see that you care about their efforts and want to help them succeed.
To make second-facing effective, ensure that your Sales Desk is fully on board. You need to know what’s happening in real time, so you can offer your assistance before the customer walks away. If you’re stepping in to help save deals, the Desk should be willing to structure the deal in a way that’s fair to you as well. After all, you’re helping save the sale, and it shouldn’t hurt your own numbers.
Actionable Tip: Offer to second-face deals, but communicate with the Sales Desk to ensure you’re not penalizing yourself. Let your team know you’re willing to help close deals when they’re struggling, and you’ll quickly become the go-to person when the going gets tough.
3.) Never, Ever Let a Customer Wait
This should be a no-brainer, but unfortunately, it’s a common issue in many dealerships. Never let a customer wait unnecessarily. The time between when a customer agrees to a deal and when they’re handed over to Finance is crucial. If they are left sitting around, they will start to feel anxious, frustrated, and impatient. This not only impacts their overall experience but also can lower your chances of upselling products when they finally get to your office.
Your job as a Finance Manager starts the moment the customer signs the agreement. If you aren’t being notified right away that a deal is ready, that’s a process problem that needs to be addressed immediately. Work with your Sales Desk to ensure you’re informed as soon as the customer is ready for Finance. Having an effective desk log system in place is critical, so you know exactly where every deal is in the process.
The moment the customer agrees to buy, time slows down for them. They start questioning how long it’s taking, what the next steps are, and why they have to wait. Anxiety creeps in, and that doesn’t bode well for you when it’s time to sell warranties, insurance, or additional products. If they’ve been sitting too long, they’re no longer in a buying mindset—they’re in a “get me out of here” mindset.
To avoid this, you should be aiming to meet with the customer as quickly as possible after they’ve signed the deal. Ideally, you should greet them within five minutes. This not only ensures a smooth transition, but it also helps build rapport with the customer before you even begin the paperwork. Remember, the customer’s experience is not just about the car—it’s about the entire process. The more seamless you can make it, the more likely they are to rate their experience positively.
Actionable Tip: Make sure you’re informed the moment a deal is signed. Speed matters here—aim to get in front of the customer within five minutes to keep the process moving smoothly. This is the key to not only keeping the customer satisfied but also maximizing the gross on each deal.
Conclusion: Becoming the Favorite Finance Manager
Becoming the favorite Finance Manager in your dealership isn’t about holding a title—it’s about how you lead, how you support your team, and how you manage your deals. By maintaining an open door, stepping in to save deals when necessary, and never letting a customer wait, you can position yourself as the Finance Manager who everyone—from salespeople to customers to management—wants to work with.
The Finance Manager role is critical to the success of any dealership, and by following these proven moves, you can elevate your position, build stronger relationships, and ultimately, close more deals. These actions will not only enhance your reputation but also lead to greater success for your dealership as a whole.