| Wondering how business is at your dealership...there seem to be some grumblings that things are sluggish in auto land these days! The media is voicing stories of gloom and doom and massive financial losses for the major auto makers! Nothing like the media raining on your parade to inject fear to the cautious consumer and suppress their spending habits more than ever! This quick movie is quite fitting. It reflects on a select few, the adversity they have faced and the tremendous results achieved by the choices they made to overcome their challenges. The softened automotive market is an opportunity for you to do something different, to be creative. It's a time when TEAMWORK is critical and a time to do what others are not prepared to do. If you want to generate more business, you have some great resources in the business office to help make that happen. Work together with your sales manager. Dig up some old deals, customers who bought vehicles 3 to 5 years ago and offer them something special to purchase a vehicle today. Maybe an extended warranty for FREE! or a protection package for FREE! Come to an agreement with the sales department about where the cost for those products will be absorbed. You will get more cars over the curb and open opportunity to sell additional business office products! Sub prime customers of approximately 24 months ago are prime candidates to call now and invite back to the dealership to upgrade. Depending on the circumstances that deemed the customer a sub prime buyer, if they have had a perfect payment record since the inception of the auto loan, a conventional finance institution may consider financing them today with the attractive interest rates and aggressive cash incentives on some new vehicles! Dare to be different, take one step forward and then another and another and another...more than half a month to go, there's plenty of time to...FINISH STRONG! |
![]() Click on Image to Watch! |
| This Blog is Dedicated to Help You Fast Track Your Career! |
![]() |
|
This picture made me howl! It reminds me so much of the late nights I worked while dedicating my life as a budding, ambitious business manager! Seriously, I worked some nights until midnight, 1 a.m., just to tidy up the paperwork that never seemed to get done during the day while I was madly selling warranties, pro packs and credit insurance to customers or getting tough deals bought. Years later, I can reflect on those days and laugh...at myself for being so silly! The message today is... |
| Download | Duration: 00:26:38 |
Motor VEHICLE SALES AUTHORITY of British Columbia
LEVEL II Advanced Course
in Victoria, BC
Please note, this course originally scheduled for July 2008
has been postponed to:
October 16 and October 17, 2008
If you were certified as a MVSABC (formerly MDC) salesperson
several years ago when the certification course was initiated,
This course is for YOU!
for further details and to Register,
Call CATHY at MVSABC, 604-294-9889, loc 230
or e-mail her at cathy@mvsabc.com
Hope to see you there!
This Blog is Dedicated to Help You Fast Track Your Career!
*An oversupply develops in the marketplace placing pressure on auto prices
*As new vehicle prices fall or manufacturer's programs are sweetened,
used-car prices soften
*At lease end if your vehicle has a buy-out of say $15,000 but the
market value is less, you have no reason to pay $15,000 for a vehicle
that's worth less! If you don't take the brunt for this
aggressive depreciation in the value, someone has to and that someone
is the financial organization that lent you the money to purchase
the vehicle in the first place. When a customer returns the
keys of a vehicle affected by an accelerated depreciation value
to their originating dealership, the vehicle will land on the
doorstep of that financial institution and goes to auction for resell.
The auction can only get what the market will bear. And so, the
losses incurred by the finance organizations at lease end bleed
their profits and that's why Ford (U.S.) and GM (U.S.) financial arms
are facing potential massive write downs!
There is a silver lining though!
The pendulum always swings both ways. Where there is a crisis, an
opportunity will always rise from it. And so, those Canadian consumers
that leased their large SUV or pick-up truck during the past few years
(provided they were in a closed-end lease) are not responsible for these
price changes. When their lease expires they need only return their keys
to their originating dealer and walk away.
The Added Bonus!
If a consumer is driving a vehicle that has an enhanced value compared
to the predetermined lease end value, they still WIN! Now they can
purchase the vehicle outright and resell it, keeping any difference
over and above the buyout value plus taxes.
So, the next time you have a customer that hesitates or questions the
benefits of leasing, explain this real-life current day scenario and see if
that influences their decision at all!
For full details of the referenced article go to:
http://www.autonews.com
You will be required to register as a user, the basic subscription is FREE
and if you don't want to receive future news headlines, you can easily
unsubscribe. Enter "Ford, GM financial arms may incur writedowns"
in the Search box, the first article that shows up in the search list is the
one you are looking for dated June 20, 2008.
What did you think of this post?
We'd like to hear from you...click "Add Comments" below
This Blog is Committed and Dedicated to Your Success!
![]() |
Brett Newell, Financialinx Account Manager for BC and Alberta regions offers plenty of reasons to lease an automobile from his wealth of knowledge and experience aquired from several years in the automotive financial services industry: |
Download | Duration: 00:31:31

Receive Tips and Comments direct to your email inbox!
Just subscribe!
It's easy, enter your email address in the box positioned
just above the "Subscribe" button in the upper left side
of this page and press the orange Subscribe button. You
will be asked to confirm your subscription and following that,
for security measures, to ensure nobody else tries to enter
your address without your knowing it, you will receive another
confirmation request by email. Simply respond to verify
you want to receive a subscription to this blog and POOF!
every time a new post (that's blog jargon for article)
or comment to a post is published, you will receive a copy
of it directly to your inbox! So, no need to keep checking
the web site regularly, you'll know what's new without
taking another step! Come back to visit the site any time
you want though, there may be new links in the body of the
blog from time to time that interest you!
SUBSCRIBE
it's EASY and it's FREE!!!!!
There's some GREAT new posts coming in the next few weeks
INCLUDING the Official Launch of Profit Drivers amazing new
Training Web Site! Subscribe now to be the first to get the
NEWS!
This Blog is Committed and Dedicated to Your Success!
TRUST and VALUE!
Part 1
Seems too simple to be true doesn't it? These two time honored principals
of selling are the fundamentals to EVERY successful sale! Your customer
must TRUST you if they are going to buy something you have to offer AND
they must see the VALUE in what you have to offer! The real trick to these are "HOW?". How do you create trust with your customer and how do you
ensure your customer perceives that your product has value for them?
Trust is identified by a sense of comfort and ease. Go back to the post of
April 7th "Tip of the Week CHALLENGE!!!!!". If you buy your customer lunch
during the very emotional process of buying a car, you have made a
great step in the right direction of gaining their trust. That's not to say
that EVERY customer you buy lunch for will automatically trust you
but with more customers than not, a generous gesture will move you
forward in the right direction. Ask yourself, how many salespeople
have bought you lunch during a lengthy purchase process? Our customers
are no different than we are when we go to buy a new suit, new outfit
or a new computer. How often have you bought ANYTHING from a
salesperson that you didn't trust? And what makes YOU trust a salesperson?
Part of building rapport with your customer is for this very reason,
to create a bond, to find some commonalities, to establish grounds of trust.
If your customer asks you, "What would you buy if you were me?",
you know you have done your job of developing trust between you.
Here are some suggestions to build trust with your customer:
Part 2, Building VALUE in what you have to offer your customer will be covered later this week in another post.
This Blog is Committed and Dedicated to Your Success!
This event takes place Saturday May 24th and Sunday May 25th, in Delta, BC
Please refer to the website for further details: http://www.lavenderhill.org/events.htm
Women of Wealth Canada
Proudly Presents
CLIMB EVERY MOUNTAIN
Women's Weekend Seminar
We want YOU to Climb Every Mountain
so we are going to provide you with the right gear to get you there!
NOTE: I have no affiliation with the organization nor facilitators of this event but I have my ticket and expect it to be a DYNAMITE weekend!
"WHAT WOULD IT TAKE?"
This question alone will get you more negotiating mileage than you could ever dream of.
Sometimes the bank will come back with a flat out DECLINE! Yuck, that has to bug 'ya!
The next time that happens, after you've had an initial warm and fuzzy chat with the bank's
credit officer to determine where the holes are in the deal and you have taken the opportunity
to present your defense with concrete information, filled in the details of the story and special
circumstances, ask the bank "What would it take to get Mr./Mrs. Customer into this vehicle
today?" Explain to the credit officer that you want to go back to the customer with some
OPTIONS! Would cash down help? How about a co-signor? In some cases one or the other
will make no difference, depending on the problem with the deal but in many instances
they will offer a conditional approval based on a certain amount of cash down; a qualified
co-signor; a different vehicle; proof of income or other documentation. The bank may refer
the deal to their sub prime finance source and it may be approved with a much higher rate
than what the customer was expecting, particularly if they are purchasing a brand new car
with subvened interest rates and that was the trigger to purchase the vehicle in the first place.
When you go back to the prime finance source, be sure to ask "What would it take
to get Mr./Mrs. Customer into this vehicle today?". Options is the key word here because
it is much more favorable to return to your customer with an unconditional approval at a
high interest rate and a conditional approval at the expected interest rate. This approach
puts the onus on the customer to decide which option is the better for them and relieves the
business manager of presenting only one solution that may not be well received by the customer.
Give it a try!
This Blog is Committed and Dedicated to Your Success!
WHEN YOUR CUSTOMER HAS BEEN DECLINED FOR FINANCING...
Almost always, there is a story that your customer hasn't fully
disclosed to you. They know their circumstances and their story
the best. Go back to your customer and ask more questions.
Keep digging until all those little questions that popped
up in your head while they were talking, are answered.
If your little noggin' came up with those questions,
you can be sure the bank credit officer thought of them too!
Once you are clear about the events that took place to
impair the financing approval, call the bank back and relay
the story to them. Have compassion for the customer,
describe the situation with confidence and appeal your case
to turn the decline into an approval. This isn't a sales job
to the bank but rather it is your ability to describe a special
set of circumstances that took place that were unique due to
a specific situation or event(s) such as illness or divorce.
The credit officers understand that we are human and things
can go sideways in life. If the application is considered on it's
face value only (the black and white appearance it has when
the bank receives it over the internet portal), there is no
human element involved with the decision process. When
you make the effort to get details from your customer and
describe the story to the bank, you now give them an opportunity
to make an assessment based on a real life situation that they
were unable to see in the initial application.
This practice will reap you more approvals, TRY IT!
This Blog is Committed and Dedicated to Your Success!
Here's the
WIN! WIN! WIN!
If you are looking for a new business manager or if you know of a dealership that is seeking one, please refer them to this blog post, reply by "Add Comment" below and follow the prompts.
This Blog is Committed and Dedicated to your Success!