hi there, it’s christian young, with kaizen automotive, consulting i’m in a dealership here with a mask on, so it must be 20 20.
doing some role play today for one of the stores, but i’ve done some recent recruiting and then we did.
The initial new hire training and now we’re coming in once a week doing a in-store one-on-one, and then i do a zoom one-on-one uh two other times a week with this particular store and other sales people.
The uh role plays you’re gon na watch, keep in mind while they’re a sterile situation, and it’s made up and it’s a made-up role play.
We try to be as realistic as possible.
We come up with realistic scenarios and any role play in the absence of having gone through the roll to the sale, the meet-and-greet establishing rapport investigation and fact-finding and walk around, and knowing that customer, like you, would in real life.
This is always going to be a little more sterile.
There’s a lot of details.
You don’t have and a lot of times you would inject some humor and you don’t always have that when you’re doing these situations so again try to make it as realistic as possible.
I hope you enjoy them: okay, bryce, great news, so i’ve got a terrific opportunity for you, but before i go through it with you, i just want to double check and make sure i’m not missing the obvious.
So i know we’ve gone through and we’ve found a vehicle.
You found this escape that you like.
I need to just double check.
You do like the vehicle, don’t you okay, because again, there’s no such thing as a good deal on the wrong car.
So i just want to make sure that we’re looking at the right vehicle.
So again, i know it’s obvious, but sometimes we get to this point.
We find out that people don’t really love the vehicle and it’s kind of silly for us to continue on.
If you don’t really love it, okay, all right! So let’s walk through the figures, so here’s the opportunity.
So you can see here.
The original list was up in here right around close to 40.
and then they’ve pre-discounted.
The vehicle 500.
Excuse me, 5.
500.
Leaving us a sale price or a pre-discounted price of 33 975.
now the trade they want to buy it, they like it a lot.
They want to buy it for eight thousand dollars.
That’s the fair trade market value for the vehicle, leaving us a difference here of 25 975.
We just need to collect the tax, the license and the payoff in a clear title.
All they need for you to do is okay, this for me right here and then we’ll get the car all cleaned up and ready to go, and i guess the only other question is: do you want to title this in your name, or is it going to Be another somebody else’s name as well.
I don’t know okay um.
I can’t tell you that that’s not the first time.
I’ve i’ve ever heard something like that.
If you’re like a lot of people, a lot of people will hear that would like more for the trade.
If you don’t mind me asking what were you thinking for the trade, i mean, what was your thoughts, ten thousand okay, and could i ask how did you arrive at that figure? I just feel like it’s in really good condition and i’m taking very good care of the vehicle.
Okay and you’re right.
You have you should um, i’m glad you did because then we wouldn’t, if it had not been in such good condition, we wouldn’t be able to offer what we’re offering.
Let me show you if i can how we arrived at the fair market value for your vehicle.
Okay, so are you familiar with the manheim auto auction, so the manheim auto auction is one of the major auto options throughout the united states.
We actually will physically go to to that auction, or sometimes they have them in chicago st louis uh.
I think indianapolis.
So the major metropolitan areas – now we also have access to these auctions online.
So because of that we have all the auction records.
So what our management team does to determine the value of your vehicle? Is they go online and they’ll use book prices and stuff, but they’ll a lot of times go online and they’ll look and see what they could buy that vehicle for at the auction right? They’d probably do the same thing if you had access to something like that.
Wouldn’t you so what they do is they go into the auction website and they enter in three things, so the first thing they enter in is the 17-digit vin number or vehicle identification number you’re familiar with that.
It’s on the window.
It’s on the driver’s side right underneath the window on the driver’s side and it’s in the door jam kind of okay.
The second thing they look at is the exact or the input is the exact miles, because obviously, a fluctuation of a thousand miles one way or another can make a difference.
Then the last thing they look at is the condition now, speaking of condition a scale one to ten with can be in the highest.
Would you rank your vehicle uh? Oh really, that’s what we ranked at too so now after they’ve got all this information entered into the auction website, what it did is it produces vehicles that produced about 15 vehicles or so that we could buy at the auction like yours and what it came up With was an average price for a vehicle like yours, with an eight rating was actually seventy five hundred dollars, so it was actually five hundred dollars less than we’re offering you.
So unless i’m missing something, this is the fair market value for your vehicle.
Now earlier, we both had said that you you mentioned that you love the vehicle, crazy idea, but why don’t we just put all the shopping behind you and get you out of here, so you can start enjoying the car if you guys want to pop water or Coffee or do the rest of the people? Okay, so i’ll have you go ahead and sign here and then we’ll go ahead and get you all right good.
So we’ve closed that one.
Now, let’s go through another scenario.
So let’s say that we get to this point here and you tell me that you um you give me the 2000, so i could have won a different route.
Okay, so when you gave me the figure i could have done this – and this is called the relative to value closed so hit me with you want to you want to so hit me with.
In fact, just hit me with, i want more for the trigger.
Oh more for the turn.
Okay.
So what were you thinking, ten thousand and if you don’t wan na be asking, how did you arrive at that price? Give take? I took great care of the vehicle and you did and we appreciate that because obviously that’s one of the reasons we wan na step up and purchase the vehicle.
Now i get that you want to get ten thousand dollars for it and based on my management, team’s research, the fair market value for the vehicle is actually eight thousand dollars, so you’re asking for another two thousand dollars or another 25 more than the fair market value Of that vehicle, so that could be a little problematic based on my management, team’s research, i mean just imagine this price.
Imagine you’ve done quite a bit of research on a vehicle you want to buy and you found that a fair price was right at 33.
9 or say 34 000 and then all of a sudden you went to the dealership and then they asked you to pay another 25, or in this case, what another 8 500 you know, so would you buy that vehicle for say, 42, 500, knowing that a fair market value for that vehicle should be closer to 33.
9, and i i’m going to kind of run into the same thing.
I’m going to run the same reactions with my management team.
If i ask them to pay you another 25, more than the fair market value for your trade, so i get it you’re, just trying to make sure you’re getting a fair deal.
Am i right isn’t a fair deal, a card you like at a price you can afford from people in a place that’ll take care of you after the sale as well.
Let’s put all this behind you get you out of here.
Did you guys want to title it and then bryce his name only or are you going to put your wife on it? Okay, so go ahead and okay, so that is the clothes that i want.
You guys to start working on as well um.
Another close that you may end up running into from time to time too, that you may want to use with the trade-in is called the payoff.
Okay and the payoff closes so a lot of times.
The customer will tell you they want payoff for their trade, so we’re walking through here and we’ll say that we walk through here to the to the figures and all of a sudden hit me with just say: hey look, you know, i at least need to get Paid off for my trip, i need to pay off for my check, hey, you know what i get it.
Obviously right, you want to get as much as you possibly can for the trade i’d be doing the same thing with others in your shoes.
You know i’ve been doing this for a while, and i’ve actually met quite a few guests like you that were thinking on the same lines until they learn that the fair market value for their trade and the payoff, while they’re kind of related they’re not really connected.
Like you might think, let me show you a couple examples to to illustrate okay, so let’s say, for instance, that you had a payoff of five thousand dollars and you had a vehicle that was professionally praised for ten thousand dollars.
Well, in that case, you want the ten thousand dollars it’s worth right, so going the other way, if say yo, thirteen thousand dollars.
That card still be worth the ten thousand dollars.
Am i wrong so why the trade value in the payoff they’re related one doesn’t really affect the other.
So again, you said earlier that you love the truck crazy idea, but why don’t we just put a shop behind you and get you out of here, so you can start enjoying it.
You want to title it in your name alone, or you can put somebody else on the top.
So that’s the payoff one! Okay! Well, there you have it, that’s how we start off our sales training day at kaizen, automotive, consulting and because kaizen means continuous improvement.
That’s our company goal and our goal for your sales department and dealership.
Now, if you want to improve your sales skills, learn how to use psychology to close more car deals and receive unbiased dealership vendor product and service reviews, make sure you subscribe and then turn on the bell.
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