Expand Your Used Vehicle Inventory
If you had 2 or 3 times as many units on the used car lot as customers ask for, could you sell more every month?
You actually do have that many or more, but instead of expanding your inventory, salespeople actually shrink the options your customers have.
What do I mean?
Isn’t this how most conversations go on the used car lot…
Cust: I want a white 4-door Camry around $12,000.
SP: I have one … what do you think – will this work?
Cust: Nah, I don’t like it – do you have any more?
SP: No, but I can call you when something comes in.
That salesperson knows nothing about ‘why’ they want the vehicle or how they’ll use it, so they have nothing else to talk about and no reason for the customer to stay.
When they know how to ask the right questions though, they can easily triple the vehicle options in stock for just about any customer.
How do you expand the inventory?
Cust: We want a white 4 door … SP: What’s your 2nd favorite color? Cust: Silver … SP: Sounds like you want to stick with lighter colors? Cust: Yes. Now you have 1 white, 2 silver and 1 light blue = 4 in inventory that may work.
SP: Is it for business or just a family car? Cust: Family, we have 2 kids and another on the way and need a 4 door and a big trunk to carry everything.
SP: Were you looking specifically for a Camry or would you consider a similar vehicle in that general price range?
Cust: We like the Camry, but we’d look at something else.
Now you have 4 Camrys, 2 Hondas, 2 Kias and 2 minivans that meet their needs that you have to choose from.
By learning how to ask the right questions that have nothing to do with price, your salesperson took the potential units in inventory you had to sell from just 1 to 10. Now if they’ll just stay off price and sell features and benefits, you’ll send this customer home in a vehicle today.
Used cars are a gold mine in both additional units and incredible gross profits and your potential is just waiting to be tapped by a sales team that knows how to ‘sell’.
If you and your salespeople will slow down and spend 30 days taking the “Selling Used Cars” course on JVTN® and apply what you all learn, your deliveries and gross profit on used cars will go through the roof.
Just do it – and then have fun, sell cars and make money!