"Right Customer - Wrong Car"
How many times has this happened at your dealership? A salesperson shows a special finance customer that shiny red Mustang GT Convertible and the customer is adamant that this is the car for them? Now we both know that being a special finance customer it is going to be near impossible to get them in that car at a payment they can afford. So we have to redirect the customer to that "practical" car they can afford, which compared to the Mustang Convertible GT is less than desirable.
This scenario can be avoided if you color code your special finance inventory. First, take your special finance program that requires the most down payment and has the highest buy rate. Next, calculate a payment for each vehicle in inventory. Tag the vehicles with payments of $200-$250 with blue stickers, $251-$300 with yellow stickers, $301-$350 with green stickers and so on and so forth. Distribute a notice to all employees "Special Finance Inventory Payments". Place each of the stickers you chose to utilize and write the payment window next to each.
Special Finance Inventory Monthly Payments
Blue Sticker $200-$250
Yellow Sticker $251-$300
Green Sticker $301-$350
Utilizing this system will simplify the vehicle selection process and avoid that deflated feeling the customer will have after being switched from that shiny red Mustang to the gray Cavalier.
**When proper customer interviews are conducted prior to vehicle selection, this system pays off. Now the salesperson can give the customer "choices".
|