When you work at a car dealership as many years as I have, you begin to notice a few questions that are asked time after time again. Customers will almost always ask what your best price on a vehicle would be.
This article is intended to highlight what you should do (as a salesmen) in order to mitigate lost profit while maintaining your customers and sending them home happy.
All too often salespeople will make promises that they can’t keep, end up haggling with their managers, and gnaw any meat left on the bone to the point the dealership and salesperson barely make a profit. The goal of any successful car deal is to maximize gross profit while creating an environment that makes the customer feel like a part of the pricing process and leaves them feeling like they got a fair deal that reflects the true value of the vehicle.
If the most commonly asked question is “What’s your best price?”, let’s look at some ways to respond to this question. There are three key responses that work well in this situation.
- “I’ll be more than glad to give you the best price, but I’d like to make sure that we pick the right vehicle for you first. Will that be OK?”
- “My job at the dealership is to help you find a vehicle you really want and then I’ll give you the best price, OK?”
- “No problem. We can be flexible but I have to make sure this is the vehicle you really want.”
Don’t hesitate to continue with a test drive or vehicle walk-around. If the customer asks for your lowest price point blank following the test drive, use one of these segues:
- “When we get back to the dealership I’ll go and get you the best price, OK?”
- “OK, follow me and we’ll get the best price right now.”
- “Great! So you liked the ride and all the features of the vehicle? OK, then follow me and I will get you the best price right now.”
If you continue to work on the sale by focusing on vernacular while selling the car and the dealership simultaneously, these selling techniques will help bolster your paycheck and managers confidence in your ability to sell. Not every sale will be a high-gross winner but practicing your timing and wording will assist in building a sales experience that will be enjoyable, and memorable, for the customer and seller alike.
Emmett Vick has worked in the automotive industry for six years and aspires to own his own dealership in the future. Emmett’s experience in the field and his passion for cars make him an expert on automotive everything. Please follow this blog if you have an interest in the automotive industry and lifestyle.