Let em “buy”
Menu’s – Presenting value and all the options, is in fact allowing them to buy. In 2013 most everyone has a menu “in the deal”. This doesn’t mean F&I is actually menu selling. The truth is still most are “Step Selling” and using a menu to do that. Self-Exam – Is your finance department allowing your clients “to buy” from the dealership? The answer is likely 100% NO, if any viable product you have is less than 10%. It doesn’t matter if you tell me or yourself the menu is in the deal. If less than 10% is a highly probable indicator your manager(s) are likely step selling, using a menu and likely NOT menu practicing buying. Don’t believe me! Well 10% of the people buy anything, right?
Your opinion on products doesn’t matter. I recently received a call from a “new” F&I Manager about pre-paid maintenance. She called me and said Chuck, I can’t sell this product it breaks out to like $60.00 per oil change and they can get one for $34.95. My reply – “stop selling”, do your job and present the options on your menu and ask them to make a selection, plus your opinion doesn’t matter to me at all. The conversation continued you have a car and you purchased what you saw value in. She has a VSC and Chemicals on the car she owns. I wouldn’t buy protective coating ever personally and I’ve sold my fair share over the years but it was her decision and not mine. Your dealer sees value at and the dealer determines cost, not you. Your job is simple – present options allow the client the opportunity to say yes. She said oh, I get it. The ah-ha moment! Well a month after she finished just shy of 14%, the month before 0%. It is unlikely any car person here who would pre pay $60 for an Asian import oil change. The point is it isn’t our decision to make.
Traditional Selling – When does and should traditional selling portion happen in F&I? The answer is quite simple after the customer decides NOT to buy something after first pass of the menu. At that point we go to our old fall backs remember you told me, uncovering objections and then overcoming them and closing! Now is we did an interview, hint hint, I can say to the client remember you told me
Stop selling and let them buy first. The proof will be in your results, PRV and product index. Look closely at your less than 10% products. Have your F&I coach or company tape your managers and review the presentation with you. You will know the difference when you see it. We are consumers too outside of the dealership and Americans and we too love to buy stuff.
Vice President & Head Coach
APS Dealer Services