Sales On The Line
Technology is helping to level the playing field for dealership sales departments. Stores that have salespeople who specialize in Internet and telephone sales can respond quickly to online and over-the-line inquiries and are poised to reap the rewards of getting the consumer into the store to accept vehicle delivery.
Yet, Internet and telephone sales make it challenging to present F&I products to “invisible” customers and can limit the success of the F&I department for aftersale or financing opportunities.
Sales personnel are keenly aware that a sale is not secure until the unit is delivered and paid for. The introduction of something “extra” to the sale-in-process can strike fear in the hearts of salespeople who believe F&I products will increase the price of the unit and cause them to lose their competitive edge.
Success on both fronts is in order. And we can make peace and progress armed with a few ideas:
Online sales
Create an Internet page for F&I products and services. Call it Customer Care Protection. Describe the benefits of service agreements, GAP (debt cancellation), and other financial center offerings designed to safeguard the customer’s vehicle investment. Install a button option the customer can click to inquire about fully disclosed costs and coverage. Make the page clean, colorful, and easy to navigate.
Telephone sales
When a telephone sale is complete and a delivery date is set, introduce the customer to the finance center, if only to review sales tax and license fees. Some states have city and county as well as state sales tax, along with special assessments for tire disposal. When the customer is shopping and price is the main motivator for buying, it is important to provide accurate figures.
The sales manager is the person who is instrumental in securing the support of sales personnel to ensure that F&I professionals receive a turn on the telephone from the sales associate after the customer has committed to purchase the vehicle.
Form and format
Regardless of the funding source, every customer is entitled to learn about the benefits of dealership products and services. Dealerships must utilize the technology that allows them to compete for sales. Sales personnel must inform their customers about the benefits of the dealership’s financial center. And F&I professionals must be prepared to present aftersale products and financial services regardless of the sales format that precedes the turnover.
World of Special Finance, April 2006