When presenting figures to the buyer, you’re in the final stages of the car deal. As such, it’s crucial to keep things moving towards closing the deal now! Remember, modern buyers have access to more information than ever. As a result, you’re most likely dealing with an educated buyer, who has spent numerous hours researching online and has gone through the sales process with you. So, when you put numbers in front of today’s buyers and go for the close, very little should surprise them. Essentially, you just need to present the numbers in such a way that makes it easy for the buyer to say “yes” and close the deal today!
When you make the presentation of figures easy for the buyer, closing the deal becomes easier! With the right mindset, closing techniques, and the ability to handle objections in the close, you can learn to close almost any car deal. In turn, hit higher car sales numbers every month! This blog will discuss everything you need to know about closing the deal almost every single time!
Presentation of Figures for the Close
Once you’re presenting figures to a buyer, you have the deal in the final stretch before the close. The buyer has done prior research, gone through your sales process, done a demo drive, and is now sitting with you going over numbers. This shows a lot of commitment! Now, it’s up to you to bring it home!
At this stage, a great salesperson always makes it easy for the buyer to say “yes” to purchasing a vehicle today! This includes knowing where to direct buyers on the worksheet, being prepared to handle any questions, and knowing how to negotiate without resorting to price.
To learn more about presentation of figures, click here to check out our previous blog where we break down the tips, insights, and techniques needed to succeed!
Handling Objections in the Close
Today’s buyer has been taught that they need to negotiate when buying a vehicle. As a result, what can seem like a serious objection is oftentimes just a test, and not a real objection. Most buyers just want to experience a “win” before signing for a new car. Therefore, leaving yourself room to negotiate and having logical explanations is crucial to closing more deals!
Let’s take a look at closing techniques in different situations!
Closing the Deal
Closing the Deal with a Proper Worksheet
As mentioned before, in the close, most objections are not serious – the buyer simply wants to feel like they have won at some point during the negotiations. That’s why your first pass worksheet should always have a short term, reasonable down payment, and an average APR. In turn, you have the ability to negotiate on things not related to the price. Once you give these buyers a “win”, it will be a lot easier to close the deal during the second pass! Now, you can ask the buyer to circle what works best for them and say “sign here!”
Closing a Trade-In Pricing Objection
If the buyer objects to the price offered for their trade during the close, be able to justify why the price is a certain way. A great way to do this is by referencing third-party providers such as Kelley Bluebook, Edmunds, or Black Book. When you do, it makes you more credible and believable.
However, when the third-party figure does not match your own appraisal, you should be able to explain why in a logical manner. Explain that their trade-in value is based on third-party valuation minus any needed reconditioning. Here, you can point out any issues noted during your walkaround earlier in the vehicle. When you logically explain how you came to your pricing, it makes it a lot easier for the buyer to move past the objection! Then, you can ask the buyer to sign on the dotted line!
Closing a Buyer Who Has Pricing Objections
One reason that pricing objections can come about is from a difference in pricing seen on a third-party website. However, the great thing about third-party websites is that they are credible, and you can use this to your advantage! In situations where buyers tell you of a quoted price that is too far from your pricing, it’s most likely because certain options, features, or equipment were not included in the third-party quote. So, this should be easy to logically explain to the buyer. Oftentimes, using third-party quotes can help you close the deal because the buyer feels vindicated when your quotes match!
Another way to handle pricing objections in the close is with inventory! Regardless where you are in the world, people are used to paying more money for things that have better features and equipment. At this stage, you know what the buyer wants, and can usually handle this by reminding them of what they are getting for the price. If they won’t budge, you can also offer to go take a look at lesser-equipped, lesser-priced vehicles. This will often give buyers better perspective on what they are getting for the price, giving you the ability to move past the objection!
When You Don’t Know What’s Holding the Buyer Back
When you feel very close to closing a deal, but the buyer seems to be stalling the deal for an unknown reason, know how to gather that information. With the right word track, you can find out what’s preventing the buyer from moving forward and close the deal. Here are some examples word tracks to help close the deal today:
“My job is to make sure you have all the information needed to make a well-informed choice. What additional information do you need before you can say yes?”
“If there was one thing that is keeping you from moving forward with the deal, what would that one thing be?”
Use the information gathered from these questions to help steer the deal to the close. Acknowledge any objections or concerns, sympathize with the buyer, and address any issues holding them back. Here, it is a great to be well-prepared with one-liners for anything the buyer hits you with – including monthly payments, the interest rate, trade-in value, etc. Once you know the issue, you are in much better shape to finish the deal!
Having the tips, techniques, and insights to execute the perfect close every time has never been easier with Webinarinc’s On-Demand Automotive Sales Training! Boasting over 1,300+ videos, train your car dealership’s staff to have skyrocketed success at bringing buyers through your sales process and closing the deal! Contact us today at firstname.lastname@example.org or call us at (888) 603-4443 for more information now!