Rate ‘You’ On ‘Price’
How much of your time with a customer focuses on price?
1. a. On the lot…Do you pre-qualify, asking what they want to pay, want for their trade, down & monthly payment and then determine whether you think they could buy?
b. Or do you find out what they want to buy, who it’s for, how they’ll use it, why they’re getting it, and sell?
2. Same question as #1 on Used / Pre-owned…Do you try to sell what they want and need – or head to a car you think they can afford based on price, etc.? Yes | No
3. On the lot…Do you discuss things like lease payments, special discounts or manufacturer rebates? Yes | No
4. On the lot…Do you ‘educate’ people about being upside down and encourage them save up more first? Yes | No
5. a. On the lot…Do you select the best vehicle in your inventory for them based on their wants, needs and usage?
b. Or do you select a vehicle based on the lowball #s they gave you when you asked, “What do you want to spend?”
6. When it’s time to close, do you…
a. Close on the vehicle with something like this, “Sounds like we found the perfect car, were you going to register it in one name or two?”
b. Or do you close on price with something like, “So what do you think, if the price is right, will you buy it now?”
7. In your negotiation…
a. Do you start your negotiation from the highest legitimate price on the vehicle, around 30% down, and then present and defend your pricing, trade value and payments?
b. Or do you write up, “Customer offers $xxx (never enough), $0 down, $299 a mo. and will buy today at that price”?
8. In your negotiation, do you…
Work the desk harder to take a terrible deal you set up than you work the customer to pay more, mostly because you don’t understand how to negotiate? Yes | No
I’m sure you get the point… If you prequalify, focus on price to put them on a vehicle, (instead of what they want and need), close on price and then negotiate on price, you end up somewhere between 6 and 12 units, tough deals, low gross, lots of minis and a frustrating career in sales.
Seriously…when you get tired of the grief and low pay that comes with selling price instead of cars, get to class or take the 2 JVTN® online sales training courses, “Price” & “How To Sell Cars”. Go to JoeVerde.com/Testimonials and read what others have said.
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