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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100%

Posted by Erik Landrum on January 10, 2020 in F&I Selling Strategies, How to Present Your Menu, Interacting with Colleagues/Internal Customers

As Business Managers, we are all probably aware of the fact that we essentially have two directives…protect and produce. We conduct our business transactions, faithfully adhering to legally compliant, ethical practices protecting the house from exposure to criminal and civil penalties. This, all while providing our Guests the opportunity to take advantage of that which we have available to protect …

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Easy Adjustments

Posted by Erik Landrum on January 10, 2020 in Administrative Topics, F&I Selling Strategies, General Communication Skills

No one likes to have their cheese moved. Change is usually annoying but it can be much less disruptive if we are able to secure an easy, initial victory! Oftentimes the biggest impediment to change is inertia. Get things moving in the right direction by looking around for an easy win. When things appear to be going sideways, “big” victories, earned from easy adjustments, will create the necessary …

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All Caught-Up Inside Your Own Head?

Posted by Erik Landrum on January 10, 2020 in Administrative Topics, F&I Selling Strategies, General Communication Skills, Going Forward

Having a bad month, are you? Couldn’t give away a shotgun during a prison riot? Instead of the Midas touch you’ve developed something, perhaps, more akin to that of the Grim Reaper? If this describes your current state of affairs, or when it happens next (because we all fall into ruts, from time to time)…remember, folks would much rather come to your party than your wake! When things are misaligne …

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Perspective

Posted by Erik Landrum on January 10, 2020 in F&I Selling Strategies, General Communication Skills, Product Knowledge

We talk about it all the time. It is our responsibility to share information with our Guests so that they may make more well-informed decisions regarding how to best protect their investment! We aren’t well-prepared to do this if we don’t possess the necessary information, ourselves. For example, recently a good friend and neighbor called, quite frazzled about what had just happened to him. His wi …

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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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Pivoting on Our Toes Versus Reacting from Our Heels

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

Captive finance companies have created a little havoc, for those of us in the Business Office, for some time now! It’s hard to recall who started this idea of turning cash buyers into financing prospects but it doesn’t matter much, anyway. The reality is what it is, and we have a job to do. Yes…it is very likely that these folks WILL be paying off the loan we are preparing to sign them up for, pos …

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