Easily Get More Down & Higher Payments
Two phrases can replace 30 minutes of negotiation…
Example: You’re working a deal and in your first offer, your customer says they don’t want to spend over $400. You’ll be amazed at how easy it is to get another $25, $50 even $100 a month with just two phrases.
Here’s how it works…
When the customer says [We didn’t want to spend over $400] just respond, “That’s great, and up to what, maybe $500, $525?” (As you ask, palm up, raise your hand in an upward motion.) You’ll hear [No way, but we could go to $425.]
No pause … “And if you really stretched your budget, what are we really talking – up to what… $475 to $490, something like that?” [Yeah, OK, we’ll do that, but we can’t go over $475.]
Same thing with down payment. [We want zero down.] And up to what…$3,000 or $4,000 if we really need it? [I can’t do that, but we could go $1,000.] And if we really stretched and you hit the secret account, what are we talking, $2,500 to $3,000? [I can go to $1,500, but that’s it.]
Why is this so easy? Well, I’d like to tell you it’s magic, but it’s just common sense. Remember the stats: 78% who walk on the lot will be buying and 85% of those specifically came to buy. That means Bob and Betty have already done their homework and they’ve come up with… Their Kitchen Table Budget & Purchase Plan
They have to decide on four things to buy: The price they want to pay, how much down they have, the payments they think they can afford and what they want for their trade.
Here’s a short version of an example we use in class…
• Down. They saw an ad for zero down. That becomes their ‘hope to’, but they know they’ll probably have to put $500 instead. They agree they could do $1,000 if they found a car they liked, and if it really got down to it, $1,500 is about max.
• Payment. Same thing. They saw an ad for $349, they know it’s a come-on so they’ll pay $400 at least. They can go to $450, and if they had to, they’ll pay $475.
This isn’t magic. When you ask ‘and up to’ it just pulls the payment they are already willing to pay right out of their mouth. ‘And if we really stretch’ just pulls the number closest to the highest figure they’ve planned on in each area.
Wouldn’t it be much better to start negotiations at the highest figures they’re willing to pay instead of forcing them to give you their lowest numbers and lock up the deal?
You get to choose how this negotiation process will go. Do it right on the lot, develop your skills in the negotiation and you’ll definitely sell more cars, have more fun and hit home runs when you’ve been striking out in the past.
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