Presenting Numbers in Car Sales
This late in the deal, so much time and effort has been spent picking out the perfect vehicle and bringing the customer through the sales process. So, it’s always a shame to see a car deal lost after all of this simply because the numbers were presented in the wrong manner. Considering that the buyer has now taken a test drive and agreed to get this information, they’re committed to making a purchase. So, when presenting numbers, it’s crucial to be prepared to avoid letting these deals slip away. In this blog, discover how to present numbers in automotive sales in a way that makes it easy for the customer to say “yes” to making a purchase today!
The Best Way to Present Numbers
If you want to close more deals, then it’s imperative to present numbers the right way. To do this, we need to consider everything that the customer has done so far. They’ve spent hours researching online and have driven the car in person. In both these situations, they have seen almost all of the info they need, including pricing information. Therefore, going through every single line item on the sheet only opens the deal up to objections. Instead, just focus on the one thing the customer has not seen yet – the payment!
In automotive sales, when things are no big deal to you, they tend to not be a big deal to the customer as well. So, recap all of the great things the customer loved about the vehicle, touch on the payments and then ask for the deal! For example:
“(Customer), congratulations! We got the hardest part of this entire thing over. You know what hardest part about picking out a new car is? Just picking out the right one, and we’ve got the vehicle you want with the (XYZ features/equipment). These payments are based on the vehicle we just drove and the market value of your vehicle. All I need you to do is to do is circle the one that works best, sign at the bottom and then I’ll get your new car ready for you.”
The First Move When Hit with an Objection
The word tracks used above typically make it easy to get the deal closed. Remember, if you’ve brought the customer this far, then they’ve landed on a vehicle they love and are committed to making a purchase. However, hearing an objection here is still by no means uncommon. If an objection arises while presenting numbers, then more likely than not, it will be a pricing objection, such as “it’s too expensive.”
For most sales professionals, an objection causes them to assume the buyer has an issue with the price of the vehicle. Contrary to belief, an objection like “it’s too expensive” doesn’t necessarily mean the vehicle price though. Yet, making this assumption and jumping right into a conversation about the price will create a situation where the customer objects to the price. So, always clarify what the customer means first:
“Okay, so you’re saying that it’s too expensive. I hear you. Now, when you’re saying that it’s too expensive, is it the price? The payment? The down payment? What we paid for your car? The interest rate? What part of the money is bothering you?”
How to Negotiate Price When Presenting Numbers
If the customer responds that they have an issue with the price of the vehicle, your next move is very important. Most likely, the worst move you can make is to immediately say “let me go check with my manager.” Now, you’ve told the customer that there’s a chance, and once they smell blood, they will come at you with their objection much harder. So, rather than negotiating money, always negotiate first with inventory. Inventory closes are a fantastic way to negotiate and allow you to close deals without touching the price. In turn, you will be able to hold far more gross in nearly every car deal you close. Here’s an example of an inventory close:
The first go:
Customer: “The price is too high.”
Sales Professional: “For the way this vehicle is equipped, this is an excellent price. It has the (XYZ equipment) that you wanted. Let’s do this.”
The second go:
Customer: “It’s still too expensive. I was hoping to save $2,000.”
Sales Professional: “Well, if you want to save $2,000, we can always take a look at the one without the (XYZ feature/equipment).”
Alternative vehicles are a fantastic way to put into perspective all of the great things the customer is getting for the value of the vehicle. Buyers are used to paying more money for more features and equipment for their phone, computer and much more, and this applies to the automotive industry as well. Utilizing inventory closes are a fantastic way to close the deal without touching the money.
How to Negotiate Payments When Presenting Numbers
In situations where customers say that the payment is too high and you cannot get them lower, it pays to be prepared. A great way to handle this is to add some logic into the deal. By this point, you should’ve figured out a lot of information during fact finding, including the customer’s payments on their current car. If it’s $400 a month, and the new car comes out to $500 a month, then remember that the real payment is actually just an additional $100. Remind the customer that for just $100 a month, which works out to a few dollars a day, they can get out of their old vehicle and into something new. Logic like this is oftentimes enough to push past the objection and get the deal closed!
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