Overcoming Objections: "I Just Want My Trade Number"

Speaker 1: 0:00

All I want is to know how much you're giving me for my trade. How many of you heard that right On today's episode, we're going to help you overcome that and close a profitable sale. Stay tuned Hi. I'm David Lowe, the Automotive Sales Coach, and welcome to Prepare to Win. This is a podcast that's really focused on helping you live and work with excellence, right To create that joy, peace and satisfaction that can only come from the pursuit of your best self right.

Speaker 1: 0:41

Grace is in dealership today, so I'm coming to you alone. She says hello, this is a big topic, by the way, grace, I coached her on this when she was selling and she had some great successes handling this exact problem we're facing today, which is what all I want is to know what my trade's worth, right? So I want to take you through the thinking behind this, because I'm going to tell you something. There's a lot of people out there who tell you this is what you do when this happens, and they want check. I just want to know the one thing I can do. There's no such thing. You need a set of thinking, you need to see the situation correctly and, yes, you need to have a professional plan, but it's not about saying one thing or about doing one thing. It's about becoming a master sales professional, right? That acts and reacts according to the preparation and training. And when somebody brings up something like this, we're not worried about it. As a matter of fact, we expect it and we're prepared. So I just want you to think about it for a second.

Speaker 1: 1:49

When someone comes in and all they care about is their trade, I always think, hey, what's going on here? You know what it's really about the whole financial package and what good is a trade number if the price is wrong or the payments are wrong and we don't even have a car they want? Right? That's what goes through my mind, right, it's not what I discuss with the buyer right now, but I just. You know why. What is happening to make these people so adamant and so right? I this? Well, I'm gonna tell you what's happened. They've been online. All your buyers have. They've been the 12 to 14 website. They've ran their trade and they're not happy with what they're seeing, right? Either they think their car's worth more duh, everybody does or they owe more. A lot, do, right. And so somebody owes this much and goes online and finds it's worth. This much is probably going to be a little pissed off, right, they're a little disappointed and that may come out and feel like an attack on you that they're really coming. I just want this and it almost feels personal. Don't let it be right. Here's what happens.

Speaker 1: 3:08

We don't control the market. We know that most people finance their cars too long. We give them shorter terms as an option and they choose the long term. Most people don't put enough down and so, just by math, simple interest, when you calculate it, it's so hard not to be upside down when you buy a car if you want to trade it in a year or two or three years, right. It takes time to build equity, a lot of time, typically four years, right. So we know that this is not our fault, so don't take it personally. Right, and we know they're upset with where they are, not with us.

Speaker 1: 3:46

So the first thing is I have to have my thinking right. This is critical because I think most salespeople get on the defense, and here's what salesmen have been doing for decades. Who cares what your trade's worth if I don't have a car you want to buy? Right, you know. Let's not put the cart before the horse. Now, that is a true statement. And in today's internet driven marketplace, we just have to be better than that. You know what I mean. We have to be better than that. That doesn't feel good. It's not the best way to handle it. I'm going to talk about that with you. The best way to handle it. So buyer comes in. How can I help you today? I just want to know what my trade's worth. I don't want to do anything until I do that.

Speaker 1: 4:26

Now let me relate. I've been through this for so many years three decades. I'm going to relate a couple stories, actually. Here's one. Here's a top one. I've got many stories about this. Here's a top one, though.

Speaker 1: 4:39

When I had budget, our used car center, we had a used car dealer sale at the local baseball diamond. Right, it's kind of cool. We're in the parking lot. I don't know. It was 10 or 12 of us dealers in a U shape there, and so everybody brought their you know the campers or the trailers for an office and then had all their cars there. You know what an offsite car sale looks like. It was kind of successful. But it's funny You're sitting there and I was almost in the last spot this year and it's funny.

Speaker 1: 5:09

I watched somebody take it. It was a Bronco, I believe, if you don't know what that is, right there there's the new Broncos. This was one of the big old Broncos, a nice one, but I watched this person go from one dealership to the next and get an appraisal. You know what I mean. I just watched her. She went in, they went out to her car Some of them drove it, some of them didn't. Then she moved to the next dealer, right. She eventually got to me.

Speaker 1: 5:36

So I actually went out to talk to her because I was so curious about it, right, and she was like I just want a number on my trade, right, and so she was very adamant on a number for a trade. Now what did I witness? She went from dealership to dealership and she hasn't stopped and driven a car or bought a car. What does that tell you? She's got unrealistic expectations. Let me ask you this how many of those dealerships use the same market results to determine the value, right? I always say, listen, we don't value your car, we appraise the condition. The market values your car, and so every dealer she went to pulled up the same data and, give or take gave her around the same amount and she was dissatisfied with all of them.

Speaker 1: 6:29

Now she was coming to me and she was going to ask me to do what. Piss me off, tell me what you'll give me for my trade. That's what would have happened, right? So I stopped her and said listen, I know I couldn't help, but I watched her go from dealership to dealership. I know you've got numbers on your. I watched her go from dealership to dealership. I know you've got numbers on your trade. How do you feel about those numbers? So far she goes. All you guys are cheaters and liars. My cars were so much more than that. Right, that was her attitude.

Speaker 1: 6:54

And she went from place to place setting that stage and most salesmen, unprepared, reacted. You know what I told her. I said you know what I get. That, and I know how frustrating it is. A lot of times. I know I'm that way. I always want more for my car than the market eventually says is worth. Can I tell you the truth? Every one of those dealers is going to use market data to determine what your car is worth. It's really the market determines it. It's not my emotion or your emotion or your feelings or my feelings. It's what people are buying and selling them, for that determines, and they all use the same market, so they're all going to come up with the same number. And guess what? So why the market? Is the market.

Speaker 1: 7:34

Now here's what I can do for you. I can't change the market, but I do. I can't stretch the market I'm really good at that. But what I'm an expert at is taking that market, stretching it and helping you put it into a whole financial package that works for it. In other words, your trade is only as good as your entire financial package, your entire deal, the car you're getting, the price of the car you're getting and the payment details right.

Speaker 1: 8:01

And so, if you would allow me, I'd love to look at your car. Of course, you already know the market. I want to look at the condition and see how much I can stretch the market. But, most importantly, I want to help you find a car that works for you. And if we find that car, I want to put a financial package that works. I may not be able to make you happy on the trade, but I guarantee you I can make you happy on the whole financial package. Would you allow me to do that? She goes, I guess.

Speaker 1: 8:26

So Okay, brought over one of the salesmen and said let's go find a car. While you're doing that, I'm going to do a market valuation. If you find the car you want, I guarantee you I will work out the whole financial package and you'll be happy. Go ahead and do that, I'll take care of this. Anyway, that gives you the thinking behind this, isn't it true? Everything I just said is true.

Speaker 1: 8:48

And, by the way, I've handled so many customers exactly like that. I had one at the last store. I was at VW store. He's like why can't you guys just give me a number on my car? The last three dealerships did. I said we can and we will, that's easy.

Speaker 1: 9:05

And how many of those cars did you buy? She goes well, none of them. Because the trades weren't right. Exactly, you see the same scenario setting up Once again. I used that same pathway and we put her into a car and she was happy. Okay. So listen, when somebody comes in and they hit you with this right away. Listen, when somebody comes in and they hit you with this right away, don't fight them, be excited. Do we need trade-ins? Rock and roll, we need trade-ins. Most dealerships I go to are like we don't get enough trade-ins.

Speaker 1: 9:33

Okay, so she's got a car she wants. She doesn't want a buy number on, she wants to know what you're going to give her for trade. She's buying a car. What has she just said? She just said this car no longer fits my lifestyle and I want out of it. And I want out of it today and I'd like to find a car that fits my lifestyle. And right now I'm only focused on one aspect of the deal, that's the trade, because the market or other dealers have pissed me off, and so that's what I want to settle first.

Speaker 1: 10:05

You hear what I'm saying. Here's the good news you have a buyer. All we have to do is help her think better so she can act better. Isn't that true? For her to think better, you have to think better. I'm going to just tell you something You're not going to win this battle of the trade without building value in you and what you do. But I'll tell you what. We train our dealership playbook behind me. If you're a subscriber, you know that we have on here exactly how to handle it. In this situation where a buyer comes in and that's the first thing you want, right we have the sound appraisal tool that is typically step right. We welcome people, we understand goals. Then we go look at their trade In this case, I just want my trade number, no-transcript and they tell you oh, that's exactly the kind of car we're looking for.

Speaker 1: 10:59

Is it here? Well, let's go ahead and get it looked at right now. Come on, you and I let's walk out together. By the way, I'm David and you are fantastic. Have you ever bought a car from us? Well, thank you for coming. I sure appreciate it. And how'd you? On the way to the car, can I start my welcome step? You bet I can. And when I'm walking around the car, their car, can I not build relationship with them? Boy, this is a nice car. Boy, you kept this car in nice condition, right, have you enjoyed the car? We compliment the trade, right, we praise the trade, not appraise the trade. We praise it, which builds them up. We're not here to nickel and dime you and we walk around the car with a silent appraisal.

Speaker 1: 11:36

Right now is not the time to say all right, lady, let me tell you why you're not going to get what you want. Let me point out all the things that I have to deduct, deduct, deduct, deduct. Right now is the time to build relationship. Walk around the car, ask good questions, actively listen, touch and note the areas that need reconditioning, but let your buyer devalue it themselves. Right now you're trying to build relationship and trust in you so that they will let you help them find the right car.

Speaker 1: 12:10

Right now is not a time to go ahead and talk about what has to happen to the car to get it ready for sale. I could say, hey, what'd you love about this car? What things would you change about this car? What reconditioning or service have you had recently done to your car? What repairs, maintenance and so forth? If you kept the car, what maintenance repair would be coming up in the next year? Have a great. Have you ever had an accident? Have a comfortable conversation about the car. That builds trust and relationship in you because ultimately that will build trust and relationship in the number. Does that make sense Now? I'm going to tell you right now that you're going to face this on the phone.

Speaker 1: 12:52

This is the funniest one. Somebody calls from an hour and a half away and wants a number on their trade right and say, okay, let me go get a number. Well, if we don't give them a number, they won't buy. Listen, I'm not trying to get out and giving them a number. What I want to do is think about why would somebody call you from an hour and a half away about a trade number? What has occurred before they call? Get inside the buyer's head, understand and have some empathy for what they're going through. And I guarantee you, if you apply our process with rigid, flexibility rigid, I do all the steps Flexibility I may reorder the steps in order to accommodate this buyer. If you do that, I guarantee you will build value in you and value in you turns to relationship and trust and they will begin to accept the things they can't change. They can't change the market on their car. We need them to accept that by focusing on what that whole financial package.

Speaker 1: 13:54

Okay, we're going through these episodes. We're going through some of the toughest situations that you encounter and while there's no like, just say this one sentence and you're gold. There's nothing like that. There's nothing like that. But what there is is your salesmanship and your skill level, and that all begins in your mind. You've got to get your thinking right and you've got to prepare to play with action. Do you know how to do a great silent appraisal? Do you know how to ask those good understand goal questions and good welcome steps so that, wholesale one, you can go ahead and overcome their fear and connect and lead and begin to help them find the car that they want. Does that make sense?

Speaker 1: 14:41

Okay, so today's episode what I want to talk to you about is how do you get this out of the way, and that's the way you do it. Now let me leave you with this. Most of the time, you bring them in and you're going to finish logging them into computer. I'm going to turn this into our used car appraiser or manager, whatever language your dealership uses. And since we've got some time, why don't we go ahead and pick out the car so I can make you offer, not just on your trade, but on the whole financial package by the time you suggest that you have the relationship and trust you need for them to say that makes sense. All right, I'm hoping that this has been a benefit to you. I know that most people haven't been prepared. Most salespeople haven't been prepared for these kind of things, and I'm going to tell you I've been using this for over three decades and this thinking and this process will work for you too.

Speaker 1: 15:33

Thank you for watching, thank you for listening. However, you're doing that and if you're not a subscriber, if you're not a partner, hit us up. We'll show you how simple and affordable it is to become an ongoing partner. I have 24-7 access to our playbook If you are a partner. Thank you so much, and remember you've got the bike. Now ride it right. You have the tool. Make sure that you commit yourself to daily becoming better today than you were yesterday by watching one short five-minute video and thinking it through and, if needed, practice and develop that skill set Good selling.