Easy Care Training ("Early Trade Walk" (Important because it…
Easy Care Training
"Early Trade Walk"
Important because it tells you a lot about the customer.
Figure out what they liked/disliked about old car and thus new car.
Advocate for FI benefits
Build value in the dealership
Set realistic expectations about their car.
Get previous paperwork from deal
What their last interest rate was.
If you have your paper work handy Ill go thru it and see any benefits you might have that are refundable.
Dont do silent trade walk
Always have them with you!
Do it before they test drive
Look at things in/on the care. It tells you about the person.
How to do the Trade / Walk?
Why are you replacing it.
Has it been serviced on time and regularly?
Talk about Johnson Service department.
Some value program here?
Do you have the paper work from your previous purchase?
Ill look for refundable items
If you have the ding/dent coverage for instance this will be repaired instead of us having to pay
Smallest ones are $50 bucks
Bigger ones/creases can be around $150
If you had one everything would be fixed.
Did you put down money?
Not sure if it has equity the market will tell us that.
This is definately a vehicle we want to buy.
What did you like about it?
What do you want your next vehicle to have that this doesnt?
When is the next payment due?
How much was that payemtn?
What F&I programs do we have that add value?
How many keys do you have?
Did you have key replacement policy?
Think about it. If you have this stuff it gives you better resell when its time to trade in your new car.
Market not Used Car manager that determines value.
Handling Price Ojections
Must be on right vehicle
Play up vehicle features
Market Based Pricing Conversation
Must mention that.
3rd Party Software that fluctuates price based on market.
Searches the market for Comps.
Saves time, no negotiation
Allows us to focus on finding the right vehicle.
Have this conversation very EARLY
Do you remember the price you saw on the internet that brought you in?
Thats market based pricing...
The internet price isnt the starting price its the ending price.
When you hear an Objection...
I understand.... You are perfectly human...
Is this the only issue?
What can I do to earn your business
Where did you want your payment to be?
No zero down
Present Lease payment
Don't show highest payment terms
Right Vehicle. Checks the boxes
No surprises. Price on internet is what you will see.
Show the KBB/NADA if good
Play up discounts/rebates
We love your trade. Show tax credit.
Shorter terms save you money!
When you refinance your house you want the shortest term.
Middle term is the best of both worlds.
Longest give most flexibilty. No prepayment.
Explain cash down
Market Based Pricing Close
Rehash Market Based Pricing
Dealer Value Close
Summarize all the free benefits
Quantify the cost savings
Net Payment Close
When you pay it off you get the title!
This is like a share of stock.
Sell it, borrow against it.. etc...
WHat do you think in 5 years this vehicle will be worth?
Your payment is $439 a month
Do the Math!
Subtract off the amount of payment that goes to them.
Divide 8k by the payment.
That is the amount they are paying to themselves.
You are paying yourself each month!
Premium Equipment Close
We can find a less expensive car but...
You have a ton of premium equipment on this vehicle.
Negative Equity Split Equity Close
Payment is too high!
The payment isn't $400 a month.
Explain the amount of negative equity in the payment.
The negative amount is X amount each month.
Fix this with down payment to pay the Neg.
"We can't fix the past or the markets depreciation but we can fix it going forward."
What your trade is worth has nothing to do with what you owe on it. The value is worth what it is based on CHOMES. Not what you owe.
Show the payment with the Neg and without the Negative equity.
Show the difference.
Reduce this to the ridiculous... Divide by term.
Explain you can pay it down or keep that money in the bank and pay this reduced to the ridiculous amount a month to "Fix the problem."
Blame the last deal.
Cash down fixes.
"Justifying the Price"
Market based conversation
Must happen early.
Address up front!
Must be on the right car. If they can't afford it its over.
Ask them! Is this the right vehicle?
Ask client about most recent negotiation experience.
You don't have to fight for a fair price. The market software did that.
"Vehicles are pre-discounted" - No back and forth
The discounted price is not the "new starting price". Its already done.
Gentle Takeaway - Premium equipment / options
We can find a less expensive vehicle.
You wanted leather, safety package etc.
Market based pricing.
Remind them about the previous conversation. Recap it.
Reduce to the ridiculous. Per day cost.
Factory Pricing model
5 years ago 15-20% margins
Not any more.
Build dealership value
Stand behind product
1800 on each car
Respond with tactical empathy.
Use KBB or NADA if needed.
Show previous discounts the software did before objections.