Handle the Price Objection Once and for All!

One of the things I like to do when I visit a dealership is to grab a manager and ask him/her to come with me and find their best salesperson. I then ask the manager to role play the dreaded question with his/her salesperson: “What’s your best price?”

I don’t have to tell you what kind of reply I usually hear. It strikes me as odd that most salespeople and BDC agents (even managers) have never really learned how to handle the price question, especially to the point where it’s a reflex. So over the years I’ve come up with a way to handle that question with logic and simplicity. What you will read is my script that will take the burden off you, your manager, and anyone else. Rather, the burden gets placed onto something intangible and logical. In the end, you may have to give up $100 or so, but that’s better than completely losing the customer all together. Also, this script can easily lead into my “Weekday or Weekend” appointment script here on DealerELITE. Below is a worst case scenario where the customer keeps saying “no”. I hope you find this helpful and please comment below your thoughts!

When a customer asks for the best price, or if what you presented is the best price, and closing on the appointment. (Practice this often so you’re able to adapt to the dynamic of the conversation. At the very least, use the response in bold to respond to the price objection.)

CUSTOMER: What’s your best price? Or, Is this your best price?

DEALER: Yes Mr. Customer. The price you saw, (or I gave you), was our best price based on the market when it was originally priced, regardless of the incentives offered at that time. Does that make sense?

CUSTOMER: No, it doesn’t. Or, Yes, but I still want to know if that’s your best price?

DEALER: Since we price all our inventory based on market conditions, I’d like to do this for you. Let me check to see if this particular vehicle is due for a market adjustment. If it is, I will certainly pass those savings directly onto you, regardless of current incentives. Does that sound fair?

CUSTOMER: No. What’s your best price?

DEALER: Like I just mentioned, I need to check what market adjustments can be made on this vehicle. So let me get that for you. If you are happy with what I can work out, would it be too much to ask to stop in today to see it in person?

CUSTOMER: No.

DEALER: Not a problem. Let me get that for you. Should I call you back at this number?

CUSTOMER: Yes/No

DEALER: Thank you. And just so I know… If you were to stop out, would it be more likely on a weekday or weekend?

From here, go to my “Weekday or Weekend” appointment close!

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