Hello there, it’s christian younger, with kaizen automotive, consulting bringing you more best automotive practices in this edition.
We’re going to talk about a new vehicle product benefit that just about every customer thinks is extremely important, plus it’s just part of the brand new car van trucker suv.
It comes with every one now many times what i’m talking about here, it’s overlooked or just kind of glossed over prior to working figures.
So what am i talking about? I’m talking about the peace of mind package now, if this is your first time to our channel and you want to improve your automotive selling skills, learn how to use psychology to close more car deals and receive unbiased dealership vendor product and service reviews.
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Okay, let’s go to work.
Some of you may be saying to yourself: what’s he talking about peace of mind package and then there’s others that maybe have got an idea of what i’m discussing or talking about? However, let me just explain it to you how i would explain it to a guest, and that way we all know, let’s say it’s a busy saturday afternoon – we’re stacked up two or three deep on appraisals and we’re the last in line.
So we know we’ve got a little idle time with our guests and rather than talk about the weather or the game, that’s on tv we’re going to use it as an opportunity to build some more value.
So we would just explain it like this.
We just start off by saying: hey joe, you know, there’s something i forgot to mention.
I just kind of glossed over that i want to make sure you know about.
It, comes with every vehicle and there’s no charge to you.
However, just because there’s no charge doesn’t mean it’s any less valuable.
In fact, it might be one of the more valuable parts of the whole truck and it’s called the peace of mind package.
It could potentially save you thousands of dollars in repairs over the life of the vehicle, so i want to make sure i run through it with you.
Okay, now that you’ve got permission to run through this with them.
You go ahead and explain all three components.
Now joe, the first component is the full three-year 36 thousand mile factory warranty.
Now, when i say full, i say full because it covers virtually everything on that vehicle, all the components anything should fail.
You won’t have to pay anything out of pocket virtually for the first three years or 36 000 miles.
All you have to do is put gas in this vehicle and go you mentioned when we were walking around your trade, that you had a power window motor that failed and it cost you about 300.
Something like that would be taken care of.
You wouldn’t be charged.
Anything it would be fixed and you’d be back on the road with your power window working properly.
The second part of the peace of mind package is a five-year 60 000 mile powertrain warranty, or i like to call it the meat and potatoes warranty.
Why? Because it covers the main things on the vehicle, the things that make the vehicle run also the components and the part of the vehicle that, if it breaks down it costs a lot of money.
The powertrain covers the engine, transmission and drivetrain, for instance.
How much do you think it would cost to have a transmission replaced on a ford explorer like this one, yeah, probably anywhere from three to five thousand dollars? And you know, when you have a repair like that that can really put a huge strain on your monthly budget.
I mean you can budget for a 250 dollar, maybe power window motor, but 2 500.
That’s a little more difficult.
In fact i mean if it’s one of these situations, where you have to have the car available to be able to go to work, then you’d probably have to put on a credit card.
If you had that availability and then make high interest payments on that credit card, just so, you didn’t lose your job with a powertrain warranty you’re covered now.
The third and final part of the peace of mind package consists of a five-year 60 000 mile roadside assistance program.
Now the roadside assistance program, it’s terrific.
It covers a lot of different areas that makes it really convenient for you if you have any issues or problems or breakdowns on the road.
Let me give you a couple examples just to explain how it works.
So, let’s say, for instance, you were brave enough to drive your family from chicago all the way down to orlando florida, because your kids are starting to get a little bit more grown up and you want them to enjoy those theme parks before they get too old.
For them now on your way down there, you get about halfway there to florida and you get a breakdown you get to where the vehicle’s running rough and you’re a little bit nervous to continue to drive the car.
So you pull over to the side of the road and you’re thinking to yourself.
What do i do and then all of a sudden snap, you remember that you’ve got that piece of mind package and it consists of a roadside assistance program.
So you call the roadside assistance, 800 number right there on the road with your cell and ask them to come out and help you out.
They come out there and they tell you the nearest ford facility they’d, get the vehicle repaired and get you back on the road, so you’re, still making good time to orlando or another situation is say: you’re, dropping your kids off at school and on the way back From dropping them off, you get a nail that goes right through your tire and it’s not as slow like it’s a fast leak by the time you get home and it’s almost completely flat.
Now you don’t want to be late for work, but you’ve got to change this tire, no you’re, not you’re, just going to call roadside assistance.
You go in and get showered and dressed while they’re out changing the tire for you.
So you can get to work on time, heck battery jump.
You need to get the vehicle lockout! You lock your keys in the car, heck they’ll even bring you gas.
If you run out of gas, it’s a terrific program and it’s all part of the vehicle – and i just wanted to make sure you realize that’s included in the price of the vehicle.
Okay, that’s how i like to explain the peace of mind package.
It’s maybe a little bit longer explanation than you would normally give to the guest, but if we’ve got the appropriate amount of time, why not plus by me, go ahead and illustrating the benefits through stories? Guests can go ahead and put their self in place of those people in the stories, and i think that enhances the value of those components that make up the peace of mind package now many times i’m asked chris.
Why do you call it the peace of mind package? Why don’t you just call it two warranties and a roadside assistance program? Well, obviously, the peace of mind package sounds better, but there’s three reasons i like to do that now.
The first reason is, it’s just easier to explain by packaging it together.
It helps trigger to me that i want to talk about the full warranty, the powertrain, warranty and roadside assistance.
So it’s the way i like to package it number two by packaging it together.
You differentiate yourself from other dealerships.
Now you may be thinking hey ford, chevy, chrysler honda.
All these manufacturers have the same type of roadside assistance and warranties for all their vehicles.
All their new vehicles is no different from one dealer to another.
However, the way you explain it can be very different from one dealer to another and by explaining it as a package, i think you enhance the value of that and it helps your dealership stand out.
Third, it’s the truth.
It is a peace of mind package.
I mean we want peace of mind, that’s what we want in life, we’ll pay for peace of mind.
In fact, all you home owners out there do you have homeowner’s insurance.
Even if you have your house paid off, you wouldn’t necessarily have to have homeowners insurance, but you do why it doesn’t make the house any more valuable.
It doesn’t make your house look any nicer.
In fact you hope you’re not ever going to have to use it.
However, you want peace of mind.
You want that peace of mind that if a storm rolls through your part of the country and it goes ahead and puts a tree limb in your living room, you want that peace of mind that you don’t have to stroke a check for fifteen thousand dollars in One day you’re covered: that’s the reason why you go ahead and pay for that peace of mind and customers.
That’s the reason why they all want that peace of mind.
Well, there you have it what i think’s a better way, and my hope is: you do as well a better way to explain the factory full warranty, the powertrain warranty and the roadside assistance program, all by just bringing it together under one umbrella, one program: one package: The peace of mind package now, if you’d like to hear ways to handle the objection i want to think about it or i can buy it cheaper down the street or i want more for my tray, make sure you go ahead and click on one of the Videos that’s going to be coming up right about [, Music ].