1. The initial contact with the customer, prior to bringing in to your office, should be in the salesman’s office. A brief interview should take place. The interview should be a brief rapport building session, followed by questions as to things that may be important to them.
A. “My name is John Doe. I am the business manager. I have the obligation of securing all of your state and federal paperwork, as well as providing you with some very important information as to the available products for your new unit.”
B. How will you be using your vehicle? Commuter or long trips? Business or pleasure?
C. How long do they plan on keeping the unit?
D. Is there anything in their previous credit history you need to know about, prior to submitting the application. (This is assuming we have not done any preliminary approval)
E. I want to make sure all the information is correct on the paperwork. Will you be titling it in one or both names? Is the address and phone numbers on the worksheet correct?
F. Allow me to verify that these were the numbers that you agreed upon so I can accurately do the paperwork.
G. Thank you for the information. Give me a minute to put some paperwork together.
2. Return to your office to prepare the paperwork and the menu. When ready, invite the customer back to your office for completion of the paperwork.
A. “Congratulations on your new purchase. Before we get started, did your sales person do a good job for you? Did you get a chance to see our newly remodeled parts department? Did you see our service department? We have certified technicians who are factory trained to take care of any concerns you may have during the course of ownership.”
B. “As part of the new privacy act, it is my obligation to explain and show you products that are available to you to protect you and your unit during the course of ownership. Please be aware that all of these products are available to you at your discretion. You are not required to take advantage of any of them. We do know that, based on our previous customers, they can be a real benefit to most people.”
C. “We have broken them down into packages to allow you to take advantage of discounts if you take advantage of more than one product. The products are in no particular order of importance.”
3. You now disclose the product and do a feature and benefit presentation on each product. I will briefly tell you how I like to present them.
4. “Folks, I am going to review each product that is available to you. At the end, we can talk about how easy it is to get these important coverages. Fair enough? Great. Let’s get started.”
A. “To protect YOU from future expenses on your unit, and to help you hedge yourself against inflation, we offer an extended service plan. This plan basically extends your factory warranty out for up to 7 years. The initial investment, which can be applied to your monthly payment, will insure that you will not have to worry about paying for any major repairs for the next seven years. Although we always encourage our customers to come to us for any repairs, it is comforting to know that the extended service coverage is good anywhere in the continental United States.
B. “Also to protect you, we offer GAP coverage. Simply put, this product is designed to insure that, in the unexpected event of a total loss of your unit, you will not have to worry about any out of pocket expense. If the insurance company offers to pay off your unit for an amount less than what you owe, the “gap” coverage will make up the difference. In addition, it pays up to $1000 of your insurance deductible. You certainly can appreciate that coverage if you ever have known anyone who has had to off a balance on a car or RV that had been totaled out.”
C. “Now, to protect the UNIT, and to keep it looking as good as it does today, we have an external environmental protection package that will keep your exterior looking like new regardless of the weather conditions you use it in. In addition, the interior protection protects the carpets and upholstery from stains that may occur. Included in that coverage is what we call road hazard protection. This will cover your tires and rims from any damage that may occur.”
Most people take advantage of the total package. As I told you, your base payment was $XXXX. Including all of the coverages, it will only increase your monthly investment by $XXXX per WEEK. (I like to break out that number by the week just to ease the pain a little) Makes sense, doesn’t it?
At this point SHUT UP and let them respond. Then, if they hesitate or refuse, ask why. “Is there something I did not explain well enough?” “Is there a product here that you did not see the value in? I could eliminate that product. I just hate to see anyone lose out on the opportunity to include these items in your payment. It allows you to have a fixed cost as you enjoy your unit. You will not have to worry about any unexpected bills. Does that make sense?” Keep pushing.
What are some closing techniques you've used in the finance office?