Hey brian maxwell checking in another episode of the car business in the raw.
What we’re going to talk about today is a part of the sales process, that’s extremely important, and it gives a lot of people a lot of problems, and what that is is how do you handle the trade objection, how you get over the issues that rise up When a customer is unhappy with the offer that your dealership and you have proposed to them for their trade, so let’s talk about it.
Okay, one of the things that i stress when i’m training salespeople at dealerships is this.
The automotive industry is one of the slowest transitioning industries around.
Let me explain to you why the trade creates so much pushback.
Okay, please take this trip with me.
Mentally words have power.
Okay, if i asked you to close your eyes, if i, if i asked you to close your eyes and to picture a sun-kissed bottle, you know the pop sunkist by me, saying the word sun kiss and asking you to paint a picture of it mentally.
You want to create what your perception of a sunkist bottle is to you, based on what the words that i spoke now, if i told you hey, listen, i would like to trade my cell phone for yours in order for you to be comfortable, doing that you’re, Nine ten nine times out of ten gon na be looking for a cell phone of equal, if not even greater value.
Now, let’s flip it to inside the dealership, when a customer comes in first mistake made by the dealership by the sales associate is when they ask: how much do you want for your trade? Why that’s a silly question, or, should i say, a question: that’s going to create obstacles and roll black blocks for you.
That’s going to come back to bite you into you know what it’s, because of this most people’s trades have sentimental value, which means that has more of an emotional uh connection to them than what the actual physical value may be worth, and you may say: well how Does that happen a number of reasons? It could be the first vehicle they bought for themselves, the first vehicle they bought when they got married to their significant other, the first vehicle they bought for themselves after the divorce.
It could be the last uh vehicle that was given to them prior to a loved one um, taking their journey and moving on to the next phase of life in existence.
Their children could have been conceived in the vehicle and it may be funny, but the happens in real life whatever it is.
It might be a pos that you wouldn’t piss on if it was on fire, but to this person you know they’ve got real life experiences in it, and so, when they’re asked, how much do you want for their trade, their their thought process, or should i say Their response will be based on not just the physical information matter of fact, hardly if any of it is going to be based off of hard facts of value that emotional um attachment is going to come through.
So you want to avoid asking them.
How much do you want for your trade and then think about the analogy that i gave as far as with trading cell phones, but now we’re thinking we’re talking about vehicles.
So when we tell a customer we’re going to be accepting their trade guess what subconsciously they hear, the word trade they’re looking for something of equal, if not greater value, and you – and i both know if you’re at a dealership in sales, you’ve already started, and that’s My just waiting to start, then you know the amount of money that is offered to an individual for their vehicle.
Almost never is what that is what they wanted, or many times, not even close.
Why? Because the dealership has to get it certified have to get it clean.
If there’s any repairs that have to be done, they have to do these things in order to turn a profit when they put it back out there on the ladder when they make it available.
For sale so using the word trade, it paints a minute.
It creates a a mental uh um electrical like circuit popping in the mind of the customer, where they’re looking for something equal to greater value, never gon na happen automatic, let down okay.
So, let’s really talk about what that trade situation is.
Is it really a trade or is it a buy and sell situation, see, there’s a thing called a pattern interrupt and what a sales pattern interrupt is is where you, you take a situation that is common and is routine typically, when people go to buy this type Of product or do business with this type of business or this particular industry, you know it’s just the way things typically go and when you do something different or you deviate from it, it’s called a pattern interrupt and what a pattern interrupt.
Does it kind of discombobulates the customer for a minute and they say whoa what the hell is going on we’re supposed to be doing this, but now we’re over here, and it helps you to get more of a realistic um.
You know feel on where they’re coming from and what concerns they may be.
Having so knowing that it’s a buying sale situation and it’s not really a trade because we’re not going to take their vehicle just give them one, because if it is a new vehicle of high value, guess what unless they pay cash for it, they have a negative Balance on, and so the odds of them being able to trade in some with your store that is so high in value that a dealership is willing to give them one of their vehicles nine times enough, it’s not going to happen, okay, so as opposed to trade.
Guess what it’s a buy, sale situation so as opposed to asking the customer hey how much you want for your trade.
Do this and my sales reps nationwide are using this and they have decreased, if not in a lot of situations eliminated the whole back and forth.
Uh over the trade, so it’s hey, mr customer, hey that vehicle you drove in um that that what type of vehicle is that um, it’s a 2013 um cruise awesome.
Let me ask you a question: are you interested in selling that because we may be interested in buying it, i get people asking about vehicles like that, all the time well, yeah.
I may be interested in selling it awesome.
Here’s what i’m gon na do you, and i are gon na – speak a little bit more, but i’m gon na get your keys, give it to one of the managers.
Let them go out and take a look at it that way.
You’ll at least know what we may be willing to buy it for now think about what i did.
Okay, i asked the customer hey that vehicle you drove in what type is it never just assume, because you look at it, you automatically know what it is.
Even if you do you want them getting more comfortable speaking to you, so guys, hey what type of vehicle is that done? Let me ask, would you, are you interested in selling it because we may be interested in buying? I get people to ask about vehicles like yours all the time and then stop and guess what, if they’re in it they’ll say many times, if not just for informational purposes.
Well, yeah, i’m considering but awesome, here’s what i’m going to do you and i are going to speak a little bit more, but i’m going to get your keys and give them to one of the managers and let them go out.
Take a look at it.
That way, we’ll at least be able to tell you what we may be willing to buy for so i want you to notice something uh.
You know it’s very straightforward, but we use words like may, or could things that you know give some level of comfort but also leave that window crack a little bit or that door cracked a little bit just in case.
We need that that wiggle and so guess what manager gets the keys while you’re doing whatever you may be, showing them the other vehicle you know, while they’re getting their appraisal on.
You know you come back into the store following the process.
Do your service to or you sit them down, okay now, once you get that information on what the dealership may be willing to buy it for when you present that to them, you have to present it like.
You know you’re just amazed at just how good it is so when you’re going back to speaking about it, hey john, i got great news.
My manager got back to me and you know the dealership would like to make you an offer on your vehicle.
Okay and what we’re looking off of you is 7 dollars for that.
Here’s, the good news about it.
We take that vehicle off your hands, the remaining balance that you’re showing me.
You have we’re going to take care of that, for you too.
So! Congratulations because you’ll also have another paid off vehicle on your credit, so in the future, when it’s time for you and you to get something else, you’re considering something else, guess what, when you and i deal with each other it’ll, be even easier for you to be Able to get this done because you got another paid off vehicle on your credit, so congrats again and then move on.
How often have you been speaking to a vet to a customer about a vehicle that they want to bring in sell to the dealership? You give them a number they’re happy with it or should i say, satisfied with it and we failed to take that moment to congratulate them and let them know how they’ll have another paid off vehicle on their credit.
Congratulations make it that much easier.
So with the trade as opposed to saying trade, hey, it’s a buy and sell and as opposed to you getting them to tell you what they think is work hey get the manager to give the appraisal, because it doesn’t matter what they think is work they’re only Going to get what the store is willing to offer when you present that option congratulate them.
Let them know you guys move forward to have another vehicle paid off and in the future, it’s going to be that much easier for you to help all right.
This and many other things that are helping you streamline your process and go through the stratosphere.
One thing i like to do is i’d like to extend an invitation to you to join me this saturday at the automotive sales online masterclass, and it is loaded in general.
Back with the information on the psychology of selling the counter closes used by the one percent to help you launch yourself to greater heights and performance at your store, how to use facebook live and youtube to create a stream of steady leads how to get your co-workers.
A team member to work for you and help you be number one this and much much more.
Just click the link in the description or in the comment section go register and i look forward to seeing you at the master class .