Effectively Embrace Urgency Like Normal Selling Cars

Scrable tlses showing Do It Now for selling cars at selling process tips.

There is an urgency selling cars, trucks, SUVs. It makes no difference whether you are selling new or used.

What is the urgency?

When it comes to selling cars, if you do not close the prospect while she, he, they are in front of you, your chance of getting the sale drops significantly when the prospect leaves.

Sure they are just going to “Think About It.” They’ll be back.

Don’t kid yourself.

Until the wheels cross the curb, you do not have a sale. Yes, you do have a prospect, an opportunity. But don’t start counting on a sale.

In selling cars, the reality is if you do not lock up the sale while the prospect is in front of you, there is no guarantee the prospect will be back.
Plus you now have to do everything you can to maintain their interest and keep their reason to buy from you top of mind.

Get The Financing Done While the Prospect Is There

Common practice in selling cars is that once a prospect agrees to buy a vehicle, they meet with an F&I or Business Manager. In some dealerships, the salesperson also does the loan application.

There is a distinct advantage when the car salesman does the financing as that person already has a relationship with the prospect.

Regardless of who does the application for financing, the same dark void exists in each scenario. That danger time is waiting for the answer from the lender.

Why is it a dark hole?

Generally, once the application for financing is completed, the prospect will be told something like “We will call you when we hear back from the lender.

So what does the prospect do? Leave.

And while they are gone they have opportunity to think …

  • Should I buy?”,
  • Did I get the best deal?”,
  • Did I get enough for my trade?”,
  • Maybe I should check another dealership?

And don’t be fooled into believing because the prospect left a deposit to hold the vehicle, once financing is approved it is a done deal.

I’ll speak more about deposits next.

For now your action plan needs to be to do everything possible to keep the prospect at the dealership until the F&I Manager hears back from the lender. That is the only way to guarantee a sale. And, even then, it is not a solid 100% guarantee.

Keep The Prospect Connected to You

If you realize it is going to be a while, be creative. Find things for your prospect to do.

I kept gift cards from a couple of local diners in my drawer. I’d say to the prospect, “Take this and have lunch. By-the-way, would you mind grabbing a soft drink for me when you’re ready to come back?

Sometimes I wouldn’t ask them to bring back anything. I’d wait about twenty minutes and then call the diner. I would have one of the waitresses give them a sandwich or piece of pie for me. The waitress would place it on the table and say something like, “Jeffrey called and wondered if you could bring this back with you for him?

By-the-way, in case you are wondering why I would have them bring me back something, the answer is reciprocity. If you are not aware as to why reciprocity is an excellent selling tactic, email me.

In addition to sending them off for coffee or lunch on my dime, most times, with management approval, I’d send them in a demo vehicle. That way they not only had to come back it would be uncomfortable (for most people – not all) to visit a competetitor’s lot.

The above might sound a little over the top to some selling cars. But keep in mind, the sale isn’t solid until the wheels cross the curb. I would do all I could to close the sale right while the prospect was in front of me.

There is absolute urgency selling cars when it comes to locking the deal in.

Deposit No Guarantee Selling Cars

A few paragraphs back I mentioned taking a deposit to hold the vehicle.

In many car dealerships that is the policy to hold a vehicle while waiting for financing. It is also a tactic some car salespeople will use when someone says, “I’ll be back.

The idea is that if someone leaves a deposit on a vehicle, the deal is locked in assuming, of course, financing is approved.

It also plants the seed in the prospect’s mind that they have committed to buy. The feeling is they left a deposit, so they are committed.

Unless it is a vehicle the dealership is ordering specifically for a prospect, which since COVID is more common, deposits really are not a guarantee of a sale.

Especially when it comes to used cars a $100, $300, $500, or even $1000 deposit will not discourage someone from looking and buying elsewhere.

I know that to be a fact.

I have closed prospects who had as much as a one-thousand-dollar deposit at another dealership!

In selling cars, a deposit is only a hic-cup when a prospect meets a determined sales person.

Selling Cars Sales Process Close Today Not Tomorrow

The urgency to close the sale today starts with the very first greeting in either the showroom or on the lot.

Every prospect is ought to be greeted with enthusiasm “Hello. Welcome to ABC Dealership. My name is … .” Pause wait for reply then … “By the way, are you shopping for you or someone else?

To ensure a quality visit and that every opportunity is taken to close the shopper …

  • Every prospect meets a manager before leaving the dealership.
  • Every prospect receives a quality professional consultation.
  • Every prospect gets a follow up call within 15 minutes after leaving the dealership thanking her, him, them for coming in (leaving a message is okay in this instance).
  • Every prospect is entered in the Dealer Management System (DMS) as well as …
  • … the salesperson’s personal contact manager.
  • Every prospect is provided with the opportunity to meet with the Business Manager for a Pre-Approval.
  • Every vehicle appraisal has a Thank You card left in it. Could be as basic as your business card with a note “Thank you for allowing me to appraise your vehicle.
  • Every opportunity is worked to close’em today!

In selling cars, the urgency is today, not tomorrow. It is a normal daily routine as part of the sales process used to catapult salespeople to six figure income earners.