Selling to SubPrime Customers  (continued)
In other stores I have visited, management believes that they need a special lending source that will make them a star.  
The fact remains, the MOST important ingredient to success in selling the Sub-Prime customer lies with beliefs and
processes of your sales staff.
    Processes
    The personnel making the initial calls to Sub-Prime customers are not the
    same sales staff that sell the Sub-Prime customer.  Too many stores have tried
    (and failed) to use the same sales staff for both tasks.  It doesn’t work!

    The telephone calls must be kept brief and fully scripted for the calling
    personnel.  When speaking to the Sub-Prime customer on the telephone,
    avoid getting into too many specifics on the telephone.  The script must get
    them to arrive.  When asked, “Do you have yellow Chevy Silverado or similar
    truck?” answer in a way to get them into the store.  “We have many trucks like
    that to choose from, with more arriving every day.  We get vehicles two ways:
    we trade in new vehicles daily and we buy vehicles all the time.  We can help
you find the vehicle you want and that you can afford...  When can you come in and take a look at what we have?”  
Get the prospect to arrive.

Many managers balk at the idea of appointment setters, but a good appointment setter should be hired for $10-$12
per hour with spifs for getting the customer to arrive.  The appointment setters job is solely to get customers arrived.  
This appointment setter stays on the telephone and relies on a huge volume of calls to get in touch with the Sub-
Prime customers and get them in.  Ensure this person has a standard script and one for common objections that
come up.

    The key points of telephone contact are:

  Call every lead and don’t prejudge the customer.

  Use scripted patter for both in-bound and out-bound calls.

  Get every prospect into the dealership regardless of credit.

  Close the customer on a specific appointment time AND get their agreement to arrive at that time.

  Develop a friendly conversation and invite their cooperation early in the conversation.

  Don’t lie to the customer and tell them they are approved unless they are.

  Handle specific questions about specific vehicles with the above script.

Generally, one telephone appointment setter can keep two salespeople busy with appointments.  A competent appointment setter can make 150-200 telephone calls per day.

In this way, we can keep the salespeople busy and they do what they do best - SELL CARS.

Marketing
Although a good/advertising mix is advisable, Internet Finance Leads are still the lowest cost per sale.  One hundred
Internet Finance Leads will yield anywhere from five to eighteen sales on average.  The advantage of Internet
Finance Leads over other forms of advertising is that the dealership CAUSES its own sales.  It is not a waiting game,
or hanging out until some customer responds to a newspaper ad or Auto type magazine ad.  Cause your own sales
by getting good quantities of leads that can be generated yourself or purchased from reputable lead companies.


Richard Harris
President / Zahr & Associates
rharris@AutomotiveDealersNetwork.com
SUPERIOR DEALER SOLUTIONSsm
Copyright © 2008 Automotive Dealers Network. All rights reserved.
    Leadership
    First in establishing a successful Sub-Prime selling machine you need a manager
    that knows the Sub-Prime game, and who possesses two essential characteristics:
    Integrity and Motivation.  If the leader does not believe the department can be
    built into a raving success, it will never happen.  Check out the manager’s concept
    of how far the department can go.  If the manager does not believe that the
    department can become a huge success (and it may take some time), find
    another Leader.