JVSMT Survey Finds Most Common Consumer Car Buying Objections Before & After Commitment
Joe Verde Sales & Management Training, Inc., today announced that, according to an online survey of auto salespeople conducted throughout 2013, the most common car buying objection before the salesperson has a commitment is, “I’ll think it over and get back to you,” at 37 percent. After the salesperson has a commitment and is negotiating, there are three most common objections: Again, at the top is “I’ll think it over and get back to you,” at 20 percent, but this is equal with “payments are too high,” also at 20 percent, followed closely behind by “not enough for my trade,” at 19 percent.
An informal survey posted on joeverde.com asked: “What is your most common car buying objection today before you have a commitment?” 153 people responded as follows:
I’ll think it over and get back to you: 37%
I want to shop the competition: 25%
Not enough for my trade: 9%
I need to check with someone else: 7%
It’s too much money: 7%
I can buy it for less down the street: 7%
I’m not sure this is the right vehicle for us: 4%
The payments are too high: 3%
I don’t have any more to put down: 1%
The question, “What is your most common objection from car buyers today after you have a commitment and are negotiating?” was also asked for comparison purposes. 153 people responded as follows:
I’ll think it over and get back to you: 20%
Payments are too high: 20%
Not enough for my trade: 19%
The price is too high: 14%
I need to check with someone else: 12%
I can buy it down the street for less: 8%
Too much down payment: 5%
Term too big: 1%
I’m not sure if this is the right vehicle for us: 1%
The same survey questions were posted on the site in 2012 and 156 people responded to each. The top response to the question, “What is your most common car buying objection today before you have a commitment?” was again, “I’ll think it over and get back to you.” However, the response was almost double at 38 percent.
The question “What is your most common objection from car buyers today after you have a commitment and are negotiating?” had slightly different responses in 2012 versus 2013.
The top response was “Not enough for my trade,” at 23 percent; followed by “Payments are too high,” at 19 percent; and “The price is too high,” at 17 percent. “I’ll think it over and get back to you,” was in 4th place at 15 percent.
Commenting on the results, Joe Verde, president of Joe Verde Sales & Management Training, Inc., stated: “People tell you ‘No’ a lot when you’re closing. They’re nervous about spending 20 or 30 grand, and they didn’t know you, like you or trust you an hour ago. So saying ‘Yes’ in just an hour means really going out on a limb for most customers. That’s why you have to make it as easy as possible for them to agree to purchase. If you close correctly, you’ll never ask the standard, ‘Will you buy today,’ question. Not only that, your negotiation will be about helping them fit this new vehicle they love into their budget, instead of whether you can ‘make them a deal today.’”
Famous for being the 8-car guy who transformed into the 38-car sales professional, Joe Verde is the author of five popular books for dealers, managers and salespeople. As well, Verde is a highly sought-after and dynamic Leadership, Management and Sales Training figure in the automotive industry. Joe Verde is also a leading innovator of virtual sales training. In 2003 he created the Joe Verde Training Network®, one of the first online training venues for auto dealers.
Joe Verde Sales & Management Training Inc. has been helping auto dealerships throughout North America dramatically increase their sales for 29 years and is well known for producing results. From complete workshop, online and in-house training programs; to materials on Leadership, Sales Management, Professional Selling, Closing and Negotiation; JVSMT coaches sales and management teams to greater success, increased sales and profits, year after year.
Joe Verde’s introduces new courses regularly through their virtual training on JVTN® which features dozens of online courses that are complete with Leader Guides, tests, reporting and certification for salespeople, managers, finance, and service, plus hundreds of hot topic chapters on almost every situation a salesperson will encounter in sales.
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