Warm Hand Offs
define warm handoff
what is creating rapport with the customer and using it to warmly hand the customer over to finance using examples of why they are great.
We will also accept--What is a transfer of trust
Example: This is Nick my business manager, he's the only person I let take care of my customers
I bought my own service contract from Nick
I can reuse my customers drivers license, OFAC, and job information from their last deal 2 years ago
What is NO. Now explain why please
The only way to show my customer the payment they want to see if they is to quote them 84 months at 2.99 which was available once. That's technically okay because it was an actual rate once.
What is....NO. To get the points for this, why?
We treat people on the phone differently than people sitting in front of us
What is he$$ no. We need to be more careful and not skip steps because there is no organic paper trail unless we create it. If the customer is unhappy or has not been offered something, it becomes their word against yours.
Negative equity
What is GAP
Now show us a GAP endorsement
Your best warm hand off
What is, give us your best warm hand off right now :)
You need a drives license to buy a car in the state of Michigan?
What is No. You do need a state ID and to be eligible for vehicle registration in the state of Michigan (which does not require a license)
Rates are rates. If a credit union can offer it so can I.
What is NO. For fun, go tell your Business Manager and your General Manager that exact statement and see their reaction. Credit Unions can offer long time customers (often with direct deposit) rates that cannot be obtained else where but most customers look at a page with rates and assume they can get that rate.
I don't need to do my Zurich Shield presentation over the phone.
What is NO. You were just able to sell a car over the phone now sell Zurich Shield. Customers still have to be offered everything they are eligible for. Isn't Zurich Shield way easier when it's applied and ready for delivery versus a customer waiting or having to come back for application?!?!?!?
Your customer has to get the truck with the 22 inch wheels
What is Tire and Wheel
Now give us your best Tire and Wheel endorsement
Why do we need a warm hand off?
What is, you've spent a lot of time with your customer, F&I has a fraction of the time. If you've earned your customers trust it can be shared and extended to Finance. It's a lot better then the dreaded walk of shame to finance.
You've sold this customer 4 cars in 10 years. Is it smart to quote based on the last time you saw their credit score.
What is absolutely not. Rates have changed, guidelines have changed, peoples situations change for the better or worse all the time. Unless credit has been pulled, the customer should be priced on a range based on store average.
Customers going 72 months can totally go 84 months
What is absolutely not. It depends on customer credit, car they are buying, LTV, DTI, age of car, mileage on the car, and other possible factors that Business Managers are aware of. Quoting payments responsibly is not easy. Always strive to pleasantly surprise versus bitterly disappoint or under promise and over deliver.
Should I take a credit app over the phone and just write phone app where the signature goes
What is you shouldn't be taking the credit app by phone. Refer them to the dealership or manufacturer website to do an online credit application.
The 400% rule
If you know the 300% rule, give it a shot
What is, we offer
100% of our customers
100% of the product
100% of the time
in a 100% compliant manner
Explain the T-minus 30 seconds and counting lining technique.
What is about thirty seconds before handing your customer off to finance, you offer up information that evokes a natural question. When done properly, the question comes as you are introducing to F&I.
Example: That adaptive cruise control you wanted is a 7K fix if it breaks, make sure you find out about the additional protection for.
Customer: How much does that cost
Actually, here's my business manager and she will be more than happy to get you that info.
I'm just taking my customer on a test drive and after making a copy of their drivers license, I threw it on my desk, grabbed keys, and left. I'm fine, right?
What is no. That is personal info. The next time you leave a customers drivers license on your desk, take your own out and leave it there as well. Oh, you don't want to...why?
It's the dealerships fault or Business Manages fault we can't get your customer that rate.
What is NO. We earn our rate based on our credit history. Please remember bad things unfortunately happen to good people everyday. We cannot fix someone's credit or give them rates they did not earn.
If a customer doesn't want Zurich Shield over the phone, I can just check decline per phone on my presentation form
What is no. It needs to be signed in person. If the deal is being shipped, the form goes with it.
I am allowed to endorse warranty?
What is no. Not unless it comes with the vehicle at no additional cost. If there is a cost it's a Vehicle Service Contract.
Some of my customers need to be coached on their credit apps before finance comes in, that's normal right?
What is NO. Customers do not need to be coached on contact info, residence, or job info from anyone, let alone a relative stranger. If they do, there's a problem. Let your Business Managers take all the responsibility of a correctly executed credit application or ask your dealer if you can take Compliance from Zurich University and after 4 to 6 hours of learning, take the app.
Can my customer get a better rate if they buy protection in the business office
What is NO. Rate can never be leveraged for product. There is NO bank that offers a better rate for buying a VSC, Tire & Wheel, GAP, or any other product.
I don't need to collect the typical things (license, registration, insurance) until my customer comes into the store for delivery.
What is yes and no. Your deal cannot get typed and sometimes not submitted without it. DO you want to sit with your customer for several hours waiting with you or would you rather have a smooth timely delivery?
Your long time customer had a $4200 repair and chose to get a new car instead....they are also the only people in a long time that didn't do well with their trade in todays market....
What is a Vehicle Service Contract. This is not yours to sell and you do not know what is and isn't covered but the endorsement is everything.
Give us your best VSC endorsement