NEGOTIATING
& CLOSING PART 2
GET A COMITTMENT
Here we are. The juiciest part of the deal. Everyone's favorite and most hated part of the entire process - so much so that there are entire dealerships that enforce a "no haggle" philosophy (if you're into that). So - you've met with your sales manager, filled them in on the details of your deal and what your customer is trying to accomplish. Your sales manager has provided you with a proposal/four square, and you're mentally preparing to re-join your customers. Before you get back to your customers (preferably as you're leaving your sales manager/sales tower), take your proposal and fold it in half so that as you approach your customers they cannot see the numbers until you have the chance to properly present them. THIS STEP
IS CRUCIAL
If you don't want your car deal to blow up in your face and vaporize your entire commission you have to follow this process with very close attention to detail and not let fear get the best of you. With your proposal folded in half and NOT viewable to the customer you should be SMILING and saying something along these lines - " I've got great news, I was able to fill my manager in on what we were trying to accomplish here today and we put together some numbers you're going to love." Take a seat and get knee to knee with your customer. This step is absolutely crucial. Moving your chair from across the table to the side of your customer creates a more consulting/friendly approach and less of a head-on, combative, back and forth approach. This simple adjustment in body language is going to create a better response from your customer and greatly increase your chances of closing. It also doubles as a way to stop them from getting up and walking straight out of the door (should that happen). WHICH OPTION
WORKS BEST?
As you get knee to knee with your customer, grab a pen, and get ready to unfold your proposal - use the pen to continue controlling the process, guide your customer's eyes - where you want them to be looking with your pen. A correct proposal should go something like this: MSRP/RETAIL price of this vehicle is $30,000. We're giving you a TOTAL discount of two thousand and five hundred dollars which brings our sale price all the way down to to $27,500. Fair market value on your trade is ten thousand dollars which brings us to a difference of $17,000 plus tax, title, and license. With $2,000 down today, we've got you at 48 months in the 450's, 60 months in the 400's, or 72 months in the 350's. Which payment option works best for you? STOP TALKING. Do not say another word until your customer does. THE FIRST ONE
TO SPEAK LOSES
Do not say another word until your customer does. I’ve worked deals that felt like they took less than 5 seconds to close and I’ve worked deals that felt like they took 5 hours to close. Yes, the silence can be a bit awkward, but you must remain silent if you want to close your customer and write up this deal. They're either going to sell themselves on a monthly payment or you're going to flush out an objection. Either way is a win - win in moving the negotiating/deal forward and getting closer to a deal. If your customer picks a payment option - CONGRATS! You've just closed a car deal. Circle the payment option they've decided will work for them and have them initial next to it. This is where mental ownership begins and you've just sold them a car. Now, if the customer objects - it is crucial to figure out what exactly they're objecting to. Some might come right out and say it - others may be reluctant and it's your job to figure it out and overcome it. A classic four-square is structured to make this process quick. On a traditional four-square there are going to be four key areas to object to price, trade, difference figure, or finally term/payment. Example: Your price is too high. You're not giving me enough for my trade. The difference figure is way off what I was thinking. The payment is too high. Each one of these has a fairly easy way to counter, justify, and then push for a commitment/close. Isolate the objective, overcome it, and get a commitment. YOUR PRICE IS
TOO HIGH
IF I COULD,
WOULD YOU?
The customer wants something, it's only fair in business that you should want something in exchange. If I could, would you is a classic closing question & a great way to get the customer to make a commitment. A commitment is your customer showing good faith that IF you can meet their terms, they will buy from you. It shows your manager they are serious about buying the vehicle TODAY. It should always be your goal to either close the customer or get them to commit to realistic terms before you return to your sales manager. Once you've got them to commit to realistic terms, have them sign or initial your four square/paperwork. Having them sign shows confidence and gets them to start taking mental ownership of the vehicle. Return to your sales manager and get ready to close this deal. GREAT NEWS
Your manager OK'd the deal and now all that's left to do is write this deal up. As you return to your customer - you can put your own spin on this part or use a phrase that makes most sense to you but it should be essentially like this: I've got great news Mr./Mrs. Customer, we we're able to get another $500 off the 2026 XYZ and meet your terms. Congratulations! Smile and shake their hands congratulating them on their purchase. Immediately move in to requesting the necessary documentation your dealership needs to complete a write up - I.D, proof of insurance, paystubs, etc. Start writing your deal up to get in the business office. If you've gotten to this step - congratulations! Sometimes this line of work can be very thankless so if no one else tells you- good job!SUPERCHARGE
YOUR SALES
Obviously most deals aren't going to be this easy. More than likely you will need more closing tools, negotiating strategies, and justification points in your arsenal to get through these deals. If you want to gain an edge in this industry and grow your commissions, bonuses, & knowledge - sign up for Sale Fuel absolutely FREE (limited time). There are so many more closes, negotiating tactics, and sales strategies to learn and master that will make you unstoppable. Join today!