Welcome to Sales Manager Success Tips.
For both customers and Sales Consultants alike, the final presentation and discussion of the trade-in appraisal is often the most awkward, nerve-wracking and contentious part to the entire sale. Sales Consultants walk from the Used Vehicle Manager’s office to their waiting customer as if taking their last few steps to the electric chair.
Inevitably, customers are often dismayed when they are informed of their vehicle’s trade-in value; “I saw cars like mine on Kijiji for $30,000 – and my car is nicer than most of those!”. Sales Consultants then go into defense mode; “Mr. Lee, that’s retail. We pay wholesale.” Worse, the Sales Consultant then starts listing all of the issues with the customer’s vehicle; “It needs front and rear brakes, front tires, ball joints, etc., etc.”. This just amps up the customer’s frustration.
Consider adding several of the following strategies to your dealership appraisal process in order to facilitate a smoother delivery of the trade-in value, gain better acceptance of the number and WIN MORE TRADE-INS!
Number 1: Explain Your Trade-In Appraisal Process.
Most people don’t know anything about the vehicle appraisal process (how
and why would they?). Most customers perceive that a manager quickly road
tests the vehicle (or not) and then simply puts a value on the vehicle based on their opinion.
The reality is that, yes, the vehicle is being appraised by a manager, however
most of you are also using significant technology such as vAuto®, CARFAX Vehicle Valuation Reports®, EBlock® and TradeRev® along with you training and experience to determine a trade-in value. Hence, the trade-in appraisal is a combination of people and expertise and the industry’s most sophisticated technology.
Have your Sales Consultants take the time to provide an overview of the
appraisal process and technology tools when having their first coffee with their customer (e-mail me if you would like examples of visual tools to help with this). Add this information to your dealership’s website and social media. Also consider producing a short video or two such as:
- How We Appraise Your Vehicle
- How We Arrive at a Trade-In Value
Join me for PART II for more Success Tips to WIN MORE TRADE-INS!
Also join us for our next 3-day Sales Manager Academy and 1-day SUPERdesking Workshop - both LIVE and ONLINE.
I’m Chris Schulthies
Chris Schulthies is the president of Toronto-based Wye Management. Wye Management provides sales and management training (showroom and digital) for dealerships, dealer groups, OEMs and industry suppliers in Canada and the U.S.
E-mail: cschulthies@wyemanagement.com
Cell: 416.908.6346
