Concessions

Posted by Erik Landrum on January 11, 2020 in F&I Selling Strategies, Objection Handling

Clearly, our credibility is of the utmost importance…yet so many of us toss it away, regularly! It doesn’t take too much deep introspection to realize it, either. Consider how it must sound to our Guests when we say, “if I could…would ya?” Heck, you can almost even hear it in a very unintelligent sounding voice! In the history of negotiation, of all the different methods employed, this is probably …

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Competition

Posted by Erik Landrum on January 11, 2020 in F&I Selling Strategies, Objection Handling

Clearly, each of us has the privilege of living in a capitalistic, free market economy, guided by the rules of free enterprise! Privilege is defined as a special right, advantage, or immunity granted or available only to a particular person or group. Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by th …

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“We’re probably not going to be purchasing what we did, last time.”

Posted by Erik Landrum on January 11, 2020 in F&I Selling Strategies, How to Present Your Menu, Objection Handling, When to Present Your Menu

Have you ever been hit with this statement, at the beginning of your process, from a previous Guest who chose to follow your advice on their last purchase? Alarms bells immediately sound in your head! How could this be happening? They are previous Customers…great folks…you developed wonderful rapport with them, last time. They followed your recommendation as to which column, in your product menu, …

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Keeping Things Moving Via Transitional Segues

Posted by Erik Landrum on January 10, 2020 in F&I Selling Strategies, How to Present Your Menu, Objection Handling, When to Present Your Menu

Anyone who has ever watched motorsports racing has seen the beneficial effects of slipstreaming. We watch as a contender maneuvers up, closely behind the competitor in front of them, only to emerge just before the finish line (propelled by some suddenly present, invisible energy the other doesn’t possess) to take the lead…and victory! In fact, a slipstream may be defined as an assisting force rega …

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Watch for The Changes

Posted by Erik Landrum on May 8, 2019 in F&I Selling Strategies, How to Present Your Menu, Objection Handling

Oftentimes it’s the small details which, gone unnoticed, create significant impediment to our communication skills! Recently, while observing the interaction between a Business Manager and his Guest, another opportunity to do things a little unconventionally presented itself. Although I strongly advocate the usage of an initial interview with our Guests, sometimes this isn’t practical. While recog …

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“But we don’t drive that many miles!” & “Are you telling me this is a bad car?”

Posted by Erik Landrum on April 13, 2019 in F&I Selling Strategies, How to Present Your Menu, Objection Handling

Recently, while visiting a Chevrolet store, I was caught gawking at a ZO6 on the showroom floor. “What a car”, I thought. “This thing’s got everything but an electric dog-polisher”, I said to the Business Manager walking out to greet me. “In fact, they probably offer that as an option, as well”, I said, failing to elicit a laugh. “You know, I’ve processed several of these, this month”, he shared w …

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Intangibles, Providing Perspective, and Outside Liens

Posted by Erik Landrum on April 13, 2019 in F&I Selling Strategies, Interacting with Colleagues/Internal Customers, Objection Handling

Examining that the overwhelming majority of what we offer in the Business Office is intangible, it’s no wonder we have to be on cue with our message, when working with each of our Guests. Let’s face it, paper contracts aren’t glamorous, they don’t have that “new car smell”, and you can’t drive them around the block! Clearly this lends a degree of difficulty to the sale of these items. Of course, t …

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Missed Tells, Staplers and Mobile Phones

Posted by Erik Landrum on April 12, 2019 in F&I Selling Strategies, General Communication Skills, Objection Handling

Do all our Guests immediately understand what we are sharing with them? Unfortunately, of course the answer is “No!” This applies to even the most effective communicators, among us. We may take for granted that what we have just reviewed is self-explanatory. But remember, our Guests don’t do this everyday, and they may just be a little stressed out, to boot. This is particularly applicable to our …

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The Business Card

Posted by Erik Landrum on April 12, 2019 in F&I Selling Strategies, Objection Handling

Previously, we considered how we might encourage the Salespeople to properly prioritize their time utilization. This was done not only to benefit them, but of course ourselves, as well. Unfortunately, even the best efforts will be lost on some. Our Salespeople may still be functioning as “Expert Negotiators”, and short cutting their sales process. They may not be educating their Guests, about all …

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“No thanks…I’ll self-insure!”

Posted by Erik Landrum on April 12, 2019 in F&I Selling Strategies, Objection Handling

Ever hear this rebuttal to your VSC presentation? Of course you have. Now it’s time to provide our Guests with a little perspective. I cannot recall a single deal in which a Guest was purchasing a vehicle (of any tangible value, at least) where they weren’t planning to carry full-coverage insurance. Of course the Lenders all require this, when financing is involved. However, the same was true for …

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