Know & Don’t Know

Today is historic. For the first time ever, an impartial panel is going to present a college football poll. No one knows for sure how it will jibe with public opinion, which is in truth, my opinion.

My parallel point – and much more crucial to adding business to your ledger – until customers declare their position for buying or leasing, no personal opinion from anyone at the dealership is needed until specifically asked. The buy or lease debate can be as heated as two fans arguing over whose team is the best in the nation.

I read an interesting report from Edmonds.com discussing two very unique tools in a salesperson’s presentation to perspective customers on zero percent financing and leasing. The appeal of zero percent is what Edmonds refers to as “buy-and-hold shoppers” while leasing finds favor because of “an economical, non-committal and no-hassle approach” in vehicle ownership. The bottom line was that while zero percent is a significant savings on average of over $3500, the impact of zero percent has waned in recent years while leasing continues upward.

As a dealer or manager, train your people to find out what they don’t know before telling customers what they do know. To make that customer feel like they are winning may require a compromise of your personal opinion but in the end it is best for both parties. I have found those who listen well, communicate professionally, and lead their shopper to becoming a trusting customer are usually in the offices with the number one salesperson of the month plaques on the wall.