We always seem to talk about the mechanics of buy here-pay here, but rarely ever talk about the more important side of it.
We like to talk more about financing, "heat-seeking-radar-where-is-my-car" devices or what my portfolio is worth and all that other stuff that makes this industry so lucrative.
What we fail to talk about are the people who have fallen in to this category. Yes, that’;s your customer.
It seems once we run their credit report, we develop an instant attitude. "Great, we got us a credit bandit, another jack, stroke, flake, bogue, or just another loser." No matter what, people are people and whether they have good credit or bad credit, people need to be treated with respect and dignity.
Credit scores should not dictate a person’;s value. Look at some of the top people in the news today. Even with supposedly great people, once the doors of the closets are opened, the skeleton’;s run wild.
Everybody deserves a second chance. That is the true spirit of America. The same thing applies when your customers come to you to purchase your vehicle. They need a second chance makeover. Don’;t just look at your customer as another deal or a new loan to your portfolio. People need help today, America needs help, the world needs help and why don’;t you be the person to help. You’;ve got to have the "I can help you" attitude to help people to be successful. You’;ve got to do it for the right reasons to. Don’;t chase money, (okay collectors back off).
If you chase your passion in helping people, the money will come. I know.
Use a different approach when selling your buy here-pay here customer. People with bad credit for the most part are in need of three things:
* Rebuild or stabilize their credit
* Improve their credit score
* Rebuild their life and open new doors to a better life.
Think of this. The average person who has to purchase a buy here-pay here vehicle has been turned down at least 4-6 times.
Frustrating and humiliating are the words that come to my mind. On top of it, they have probably been to several dealerships where the finance manager has promised to call them back. Do they really ever call back?
What an interesting department. I can come up with several different meanings for F&I. Pass.
All people need three things in life, love, respect and hope.
Next time you’;re in a deal, remember your customer needs three things too: You – the dealership – and a great program to help them rebuild their credit, their life and hope. Why not use this as a marketing tool for your dealership?
Come up with a visual aid that is placed on each vehicle as well as on each salesperson’;s desk. Before your team races to fill out the paperwork, have the salesperson say, "We are different than other dealerships. We believe in helping people in a few different ways and let me take a few minutes to explain that." The salesperson would then show the visual to the customer that states, "We will help you rebuild your life, credit and open new doors for you so that you can live a better life. "
Don’;t use car language that says, don’;t worry, we can get you done, we can get you back on the road again, no prob we can get anyone done here at …" A guy once asked me, how do I get respect? Give it. A person once asked me, how can I find loyalty. Give it. Another person asked me how can I find riches. Give it. It’;s almost magical.
Long after you have washed out of this business or are wholesaled, the people you have helped, the people you have worked with, the people you have sold to will remember the people who helped them on to a new road in life. Everyone needs a break, why don’;t you be that person to give them that break? You might not ever hear the prop, don’;t worry. If you throw good out, good comes back. You throw goodness out, and I promise it will come back. I know!