Adapting to Evolution in the Car Business

Properly done, a car sale is a truly beautiful thing. The steps on the road to a sale, done thoroughly in order, create the best chances of completing a transaction and optimizing gross. I’ve done thousands of such deals over the years and the important lessons that I have learned from my teachers and mentors over that time, I will never forget. One of those lessons is that we don’t give the customer a price until he’s ready to buy, and most of all, we never ever quote a payment on the lot.
As dealers, we still believe that educators lose and if we make it too easy for customers to come in get figures from us, they will just use us as a stopping off point on their way to where they will really buy a car. Contemporary surveys though show that customers respond markedly well to a more straight forward approach. Consumers have become more empowered, and we should use that momentum to help us make sales, rather than try and fight against it. Imagine the customer traffic in your neighborhood grocery if it suddenly removed all price labels from its shelves and only revealed totals upon checkout. Business would wither away to nothing, yet this is how car dealerships often operate.
I suggest that we take the new approach of making shopping for cars one of the easiest things that someone could do this weekend rather than one of the most difficult. And thanks to new technology from Payment Ranger™ it is also simple for a dealer to implement. Payment Ranger’s technology makes it possible for a customer to simply pick up a personal digital assistant (PDA) from a dealership’s sales desk and then point it at the bar code of any car on the lot to see what his payment would be.
These PDA devices can be set to display either best price suggestions or best payment suggestions and they don’t have to give away the store. Typical settings account for credit tier, down payment, trade equity, lease mileage, as well as all factory incentive programs. Profit margins can be drilled down to each year and body code. It’s like having the dealership’s best tower manager walking the lot with the customer except no car is skipped and nothing is overlooked.
As a dealer, you know that you could sell more cars if you could only get the chance with the customer. With this new PDA technology, available from Payment Ranger, you can now promise consumers a wonderful new shopping experience, browsing the lot hassle free with instant price or payment estimates at their fingertips. Just scan the bar code and see a personalized payment display. What could be easier? Customers have shown that they love this approach and they do buy cars this way. Their thinking has evolved and so has the way that they buy cars. The question is, as dealerships, will we evolve as well?
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