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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Fielding Some Common Objections

Posted by Erik Landrum on April 11, 2019 in F&I Selling Strategies, Objection Handling

You have just concluded your 2-term (ex. 60 & 72 month) menu presentation. You structured the rate offering the same (where possible) for both terms. The column structure is robust for each of your four columns. The VSC you have chosen is applicable to your Guest’s anticipated trade cycle and annual mileage consumption. You have recommended the column most suitable to their needs, referenced ( …

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“Do I Have To Buy Any Of This?”

Posted by Erik Landrum on April 10, 2019 in F&I Selling Strategies, Objection Handling

You have just completed your four-column menu presentation complete with robust column structure. Your Guest, Mary, responds by asking, “do I have to pick one of these options?” It is usually at this point that many Business Managers are inclined to believe that they have overreached. Perhaps they have been too aggressive in asking that Mary consider columns, each of which are very comprehensive. …

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Motivation, Suppression, and Maintaining Control

Posted by Erik Landrum on April 10, 2019 in F&I Selling Strategies, Interacting with Colleagues/Internal Customers, Objection Handling, Time Management

To be sure, I fully supported and recognized the efforts of my sales staff. Been there and done that. Plenty of pairs of shoes were worn out obtaining an understanding of the challenges they regularly face. Having said that, I also recognize that salespeople (of which we are all) are motivated by one of two things: “hope for gain” and “fear of loss”. Call it optimism and pessimism, if you like. We …

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Option Column Objection to VSC Segue

Posted by Erik Landrum on April 10, 2019 in F&I Selling Strategies, Objection Handling

So you have just finished presenting your menu, complete with robust columns. You have recommended the column most applicable to your guest’s needs. Their response is, “Thanks for covering that, but I just don’t think I need it.” Now what we have here is time to make a decision…high road or low road. In other words, will the conversation quickly devolve into something resembling (at least implicit …

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