A Unique Approach To Car Buying. R. L. Bowman
payment and term of the loan is written.
On some “four squares,” there is a commitment section. The customer commits to buy the vehicle if these terms are meant. Most of this is mind game tactics.
7) The “write back.” The counter offer comes back from the Sales Manager. This step may go back and forth a few times until an agreement is reached.
8) The deal is agreed to, a buyers order is signed, and down payment check is collected. This is considered “glue” to keep the customer committed while waiting to sign documents in the Finance Department.
9) Sign documents in the Finance Department. The customer will also be presented with the opportunity to purchase optional products and services, as we covered in the previous chapter. Most dealerships use a tool called a “menu.”
The purpose of a “menu” is to present all the products and services offered by the Finance Department in the form of groupings or “packages.” These packages are designed to create multiple sales of various products and services by their grouping. The customer may select a package.
The Contractor will give a price usually in the form of a “small increase” in monthly payment. If the customer agrees, the Contractor will include it in the sale and add it to the contract the customer signs with the increased payment.
10) The customer takes delivery of the vehicle.
The selling system we have just gone through is a general overview of how it functions, the way the dealership would prefer it to be applied. This is not the way we will be using it. It is very important to understand this system through the view of the dealership. It’s their system. The dealership is not changing it.
The next chapter deals with how trade-ins are valued. It is the last chapter in how dealerships operate. In the following chapters I will show you how use everything we’ve learned so far, apply it, manipulate their own system, and use it your advantage. We will accomplish this without creating an adversarial relationship.
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