Comments on: Shoppers Cite Dealer-Related Issues Among Top Reasons for Rejecting a New Vehicle – J.D. Power and Associates Reports http://www.dealerrefresh.com/shoppers-cite-dealer-related-issues-among-top-reasons-for-rejecting-a-new-vehicle-jd-power-and-associates-reports/ Obstacles, Observations and Opinions of an Automotive Internet Sales Manager Fri, 30 Jul 2010 03:10:10 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Jen Schrader http://www.dealerrefresh.com/shoppers-cite-dealer-related-issues-among-top-reasons-for-rejecting-a-new-vehicle-jd-power-and-associates-reports/comment-page-1/#comment-3082 Jen Schrader Fri, 03 Oct 2008 16:45:50 +0000 http://dealerrefresh.groovecommerce.com/?p=433#comment-3082 Brock - Great Comment! Asking those necessary questions during the time you are presenting your product will absolutely help the transition be so much easier when they walk in to the Finance Managers office. Finance Managers also need to make a living and to sell their product just as the Internet Manager / Sales Staff needs to make their money by selling their product. I have seen customers throw their hands up and walk right out of the finance managers office. They were not prepared, no questions were asked, they were hit between the eyes. Reason? The necessary steps were not taken by the sales rep. Why throw your customers in the office with a guy / girl that they don't even know? It is scary for them. Reassure them and during the presentation of your product, introduce your customers to the finance manager if he is walking across the show room along with the intro to the GM, GSM. SM and much more. Even the other Sales Staff! I have done that many of times and you will be surprised of the results! Just my 2 sense! Brock -
Great Comment! Asking those necessary questions during the time you are presenting your product will absolutely help the transition be so much easier when they walk in to the Finance Managers office.

Finance Managers also need to make a living and to sell their product just as the Internet Manager / Sales Staff needs to make their money by selling their product.

I have seen customers throw their hands up and walk right out of the finance managers office. They were not prepared, no questions were asked, they were hit between the eyes. Reason? The necessary steps were not taken by the sales rep.

Why throw your customers in the office with a guy / girl that they don’t even know? It is scary for them. Reassure them and during the presentation of your product, introduce your customers to the finance manager if he is walking across the show room along with the intro to the GM, GSM. SM and much more. Even the other Sales Staff!

I have done that many of times and you will be surprised of the results!

Just my 2 sense!

]]> By: Brock Frady http://www.dealerrefresh.com/shoppers-cite-dealer-related-issues-among-top-reasons-for-rejecting-a-new-vehicle-jd-power-and-associates-reports/comment-page-1/#comment-3081 Brock Frady Wed, 01 Oct 2008 03:45:47 +0000 http://dealerrefresh.groovecommerce.com/?p=433#comment-3081 I would have to agree and disagree with Tom and Kevin on the issue of forty % finance related purchase issues. According to the article, it seems that the buyers could afford the vehicle. This leads me to believe that there may be a "disconnect" when the customer is approached by the Finance Manager becauase they can probably finance or lease as well. Personally, I have noticed that when the Finnce Manager approaches the customer after numbers have been agreed upon the customer seems to "clam up" because they see that person as the one who takes their money. I have started to ask leading finance/lease questions during the demo. to allow the Finance Manager a smoother transition from the close of the deal to the intro. of finance/lease options. Upon agreeing to figures with the customer I am sure to inform. the Finance Manager of any information that may help him/her with making some type of connection and build a rapport. You, as a Salesperson has spent up to an hour building rapport and sharing stories. Having been on BOTH sides of sales and finance, I took a few minutes to talk with the Salesperson in private to gather info. thus giving an impression to the customer of someone there to help them make an educated decision with the next step in the purchase/lease process. If 40% reject a vehicle but have the means to buy then one could only assume that they also have the means (credit score, money, DESIRE) to purchase or lease. Keep in mind that Finance Managers have a VERY difficult job. They go in after the close - the point at which the customer has, in their mind, already made the purchase. When they (the customer) is "hit" with dizzing rates, residuals, money factors, etc., the situation coould quickly become adversarial. My suggestion: 1) HELP your Finance Manager by asking the proper questions (target payment?, ever considered a lease? how many miles do you drive per yr.? have you had any siginificant warranty repair costs with your current vehicle?) These questions build validity for the Finance Manager when he/she asks them later because they have had time to think on them. 2) PREPARE the Finance Manager by pointing out who the "decision maker" is and what common bonds they may be able to establish in a short amount of time. 3) ALLOW the Finance Manager adequate time to make a full presentation on all of the products he/she has to offer. If a customer says "I'm in a hurry", the let them know that so they can make a more concise decision on what to present and when. Depending on your pay plan, your Finance Manager can be a huge asset to every deal. If you think about it, we can do so much better than just "weather the storm". If we have clear communication and determenation to help each other we will be the storm! Remember, if you have proper control and can slow down the customer then everyone can at least have an opportunity to make money. All we need is an OPPORTUNITY!!! I would have to agree and disagree with Tom and Kevin on the issue of forty % finance related purchase issues. According to the article, it seems that the buyers could afford the vehicle. This leads me to believe that there may be a “disconnect” when the customer is approached by the Finance Manager becauase they can probably finance or lease as well. Personally, I have noticed that when the Finnce Manager approaches the customer after numbers have been agreed upon the customer seems to “clam up” because they see that person as the one who takes their money. I have started to ask leading finance/lease questions during the demo. to allow the Finance Manager a smoother transition from the close of the deal to the intro. of finance/lease options. Upon agreeing to figures with the customer I am sure to inform. the Finance Manager of any information that may help him/her with making some type of connection and build a rapport. You, as a Salesperson has spent up to an hour building rapport and sharing stories. Having been on BOTH sides of sales and finance, I took a few minutes to talk with the Salesperson in private to gather info. thus giving an impression to the customer of someone there to help them make an educated decision with the next step in the purchase/lease process. If 40% reject a vehicle but have the means to buy then one could only assume that they also have the means (credit score, money, DESIRE) to purchase or lease. Keep in mind that Finance Managers have a VERY difficult job. They go in after the close – the point at which the customer has, in their mind, already made the purchase. When they (the customer) is “hit” with dizzing rates, residuals, money factors, etc., the situation coould quickly become adversarial. My suggestion: 1) HELP your Finance Manager by asking the proper questions (target payment?, ever considered a lease? how many miles do you drive per yr.? have you had any siginificant warranty repair costs with your current vehicle?) These questions build validity for the Finance Manager when he/she asks them later because they have had time to think on them. 2) PREPARE the Finance Manager by pointing out who the “decision maker” is and what common bonds they may be able to establish in a short amount of time. 3) ALLOW the Finance Manager adequate time to make a full presentation on all of the products he/she has to offer. If a customer says “I’m in a hurry”, the let them know that so they can make a more concise decision on what to present and when. Depending on your pay plan, your Finance Manager can be a huge asset to every deal. If you think about it, we can do so much better than just “weather the storm”. If we have clear communication and determenation to help each other we will be the storm! Remember, if you have proper control and can slow down the customer then everyone can at least have an opportunity to make money. All we need is an OPPORTUNITY!!!

]]> By: Kevin Frye http://www.dealerrefresh.com/shoppers-cite-dealer-related-issues-among-top-reasons-for-rejecting-a-new-vehicle-jd-power-and-associates-reports/comment-page-1/#comment-3080 Kevin Frye Tue, 30 Sep 2008 15:08:50 +0000 http://dealerrefresh.groovecommerce.com/?p=433#comment-3080 I agree with Tom. In addition to that, with credit tightening up in this market, and with so many of our buyers with special finance needs, I am preparing my team to "weather the upcoming storm" with this slowing market... Many of our buyers who want to buy cars are not going to be able to get the loans to get them, or certainly not as easy as before... I agree with Tom. In addition to that, with credit tightening up in this market, and with so many of our buyers with special finance needs, I am preparing my team to “weather the upcoming storm” with this slowing market… Many of our buyers who want to buy cars are not going to be able to get the loans to get them, or certainly not as easy as before…

]]> By: Alex Snyder http://www.dealerrefresh.com/shoppers-cite-dealer-related-issues-among-top-reasons-for-rejecting-a-new-vehicle-jd-power-and-associates-reports/comment-page-1/#comment-3079 Alex Snyder Mon, 29 Sep 2008 19:47:24 +0000 http://dealerrefresh.groovecommerce.com/?p=433#comment-3079 I don't know what to say other than...."Duh!" I don’t know what to say other than….”Duh!”

]]> By: Tom Pfeiler http://www.dealerrefresh.com/shoppers-cite-dealer-related-issues-among-top-reasons-for-rejecting-a-new-vehicle-jd-power-and-associates-reports/comment-page-1/#comment-3078 Tom Pfeiler Fri, 26 Sep 2008 21:09:05 +0000 http://dealerrefresh.groovecommerce.com/?p=433#comment-3078 i WOULD SAY THAT IN THIS MARKET THAT THE 40 PERCENT THAT REJECTED A VEHICLE BECAUSE OF FINANCE RELATED ISSUES WERE ACTUALLY REJECTED BY THE FINANCIAL INSTITUTION AND NOT THE OTHER WAY AROUND. i WOULD SAY THAT IN THIS MARKET THAT THE 40 PERCENT THAT REJECTED A VEHICLE BECAUSE OF FINANCE RELATED ISSUES WERE ACTUALLY REJECTED BY THE FINANCIAL INSTITUTION AND NOT THE OTHER WAY AROUND.

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