Objections unnecessarily stop a lot of car sales professionals from being able to progress through the steps of their sales process. In today’s world, how you approach objection handling can make or break your ability to be successful in automotive sales. Yet, with the right knowledge, insights, and techniques, overcoming objections does not need to be something to be afraid of.
In fact, it can oftentimes be as simple as understanding the buyer’s position, showing appreciation, and agreeing with them. It’s important to understand why buyer’s object. It’s oftentimes not about you, so don’t take it personally! When you have empathy for the buyer’s position and let them know that you can help, you can smoothly overcome most objections and progress the deal. In this blog, learn how to handle the top 3 customer objections in car sales with ease!
Objection #1 – I Need to Sleep on It (I’m Not Buying Today)
The classic “I just need to sleep on it” objection is one that doesn’t need to stop as many car deals as it does. When a buyer tells you this, it’s likely that something is bothering them. So, they throw this out as an excuse to slow down the deal. To handle this objection, you should determine what’s preventing your buyer from moving forward with the deal.
If it has to do with the vehicle, figure out if it is the vehicle, equipment, color, styling, or engine. Narrow down what would make the perfect vehicle for your buyer! If it’s the money, figure out if it is the price, down payment, interest rate, or appraisal value of their trade. Just because they say they have a problem with money, it doesn’t necessarily mean the pricing. So, find out what aspect of the money is preventing them from moving forward! Once you gather this information, it becomes incredibly easy to move past the objection. It might just take landing the buyer on a better vehicle, offering extra equipment, or decreasing monthly payments to move the deal forward.
Objection #2 – It’s Too Much Money / Too Expensive / Out of My Budget
Before tackling the age-old objection of “It’s too much money,” keep in mind that it doesn’t always equal a problem with the price! In fact, a lot of times, it’s not the vehicle pricing that’s the problem. So, find out if it could be an issue with the payment, down payment, interest rate, or trade value first! Make sure to delve into this objection and find the specific source of frustration on the buyer’s end.
If you ask the buyer and find out they truly have an objection to a vehicle’s price, keep your confidence. Most buyers won’t walk out of your dealership over a few hundred dollars. So, ensure them that for the equipment, you have the best price they’re going to find in the market. When you believe the you have the best pricing, the buyer believes.
However, for buyers that are adamant about lowering the price of the vehicle, learn to first negotiate with inventory instead of pricing. This process starts during fact-finding. When you know what equipment and features the buyer needs to have, it makes it easier to handle pricing objections. When the buyer asks for a lower price, offer a less expensive vehicle with less features and equipment. If they truly want those features or equipment, then this is a good way to remind them of why the price is what it is.
So, before you ever negotiate with price, negotiate with the vehicle. It’s logical! We naturally pay more for extra features and equipment; buyers are used to it. Therefore, show buyers less expensive options with less features and equipment before you get to the negotiations. When you can bring this up during the negotiation process, the buyer will commit to what they really want.
Objection #3 – I’m Just Looking
Don’t be turned off by buyers that drop the classic “just looking” line. In today’s world, buyers can do a lot of this online. If they’re on your showroom floor, then they most likely are looking to buy! Contrary to belief, this is actually a sign of commitment from the buyer. They have spent hours online researching, and then come into the dealership to see a vehicle in person. This is a great sign that the customer is looking to buy and wants to get comfortable before engaging with you. So, still introduce yourself, discover which models they are interested in, and move right past the objection and into your sales process. Most of the time, it’s truly that simple!