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John Vecchioni. Director of F&I Development National Trainer. United Car Care. Fixing the Desk At Your Dealership. What are the most common problems?. Lost Sales Opportunity Lost Revenue Confusion Credibility of sales people perceived by customer Anger & Frustration - PowerPoint PPT Presentation

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John VecchioniDirector of F&I DevelopmentNational TrainerUnited Car Care

Fixing the DeskAt Your Dealership

What are the most common problems?Lost Sales OpportunityLost RevenueConfusion Credibility of sales people perceived by customerAnger & Frustration All of these are related to the Consumer.

Communication with sales peopleNot going out to meet the customer and closing the deal at the sales persons deskLack of sales training and educationLack of knowledge in lending alternatives

4How do we know these problems exist?Beat the Car Salesman / car buyers schoolwww.beatthecarsalesman.com/school/step5-10.html

The Four SquareClick to add text

Customer:Stock Number:Year:Vehicle:Date:Salesperson:RETAIL VALUE:TRADE VALUE:(+Sales tax, License Fees, and $35 Documentary Fee)Current Monthly Payment: ___________10 Day Payoff:______________________Lien Holder:________________________CASH INVESTMENT MONTHLYINVESTMENT(Typically 25% to get your BEST TERMS)Trade Year:Make:Model:Miles:6Negotiating the four square http://www.zimbio.com/Car+Negotiating/articles/2/Car+Negotiating+Four+Square+Dealerships+Use

Four Square scamsArticle Top 10 Car buying scams linkStates as #5: The Four-Square Car Scam (from autobytel.com)dealers use a four-square diagram to illustrate the price of the new car, the value of the trade-in vehicle, the monthly payment for the new car loan, and the down payment required to reach that monthly payment. All of these numbers are negotiable, and the dealer uses this car buying scam to first determine what kind of car buyer you are, and then to tailor the deal accordingly.In this shell game, the four-square diagram becomes a jumbled mess of numbers during the course of negotiations until your particular concern whether that is the monthly payment, the trade-in value, the price of the new car, or the down payment meets your requirements.If you have not educated yourself about thefour-square approach in advance, you are going to get very confused and the dealership is going to vacuum extra money from your wallet.

Attorney General complaints fromYahoo! searchStrategies that lead to confusionIf your negotiating strategies are not understood by your sales peoplethen, they will not be understood by your customer.

Accountability from the deskMany Sales Managers rely on the Salesperson to convey information from the desk to the customer.How will you know: What the customer is being told? If the purchasing structures are being explained properly?Its more professional for the Manager who works the desk to tell the customer directly.

No Sale!This process of making the salesperson the middle man angers & frustrates customers.

How can you FIX the desk?Hold training so your entire sales environment understands how & why the Sales Manager wants a sales opportunity closed.

If you still use four-squareMake sure all the traditional questions that can be raised by the customer can be answered logically.

A one price systemMake sure all the traditional questions that can be raised by the customer can be answered logically.

Dont make unachievable promisesOr make statements that are unattainable.Interest rates, terms, payments and trade values should be verifiable and explained.Dont try to score the seven pounder.

What is the best way?Have a universally understood process.Be transparent with the details.Listen to what the customer wants to achieve.Ask questions.Make sure you dont have to back track to defend pricing, etc.

Use the tools around the business The Finance Department has the capacity to help.The Finance Manager can build credible and valuable interest in:rate, payment/term & ancillary products.Having the customer think they are getting a rate or term which is not available to them is NOT a closed sale!

The Desk + the Finance OfficeHave to work in conjunction with each other!This ensures more deliveriesAnd less resistance with the customer.

How is that done???Share informationCommunicate the factsReview the outcomeStay consistent with the processSupport each other as a managing entity of the dealership.

ReviewWhat is the best way to not only fix the desk but make sure it doesnt break?Work in a partnership with Sales Managers and F&I Managers to ensure sales are closed and customers are completely satisfied.

Friend the Fni Coach Watch short video tips with information on all aspects of the F&I profession. Great way to stay sharp.Network with others in the business.No cost! www.facebook.com/fnicoach

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Want more? In depth training is availablewww.fnicoach.com

Thank you!Thank you for attending.Stop by Booth 420 to spin the prize wheel!