Common Objections in Car Sales

David Lowe 0:00

I gotta have payoff for my trade , right ? I know you're hearing this , maybe even every day . In today's episode , we're going to help you overcome this common objection I want more for my trade . Stay tuned .

Grace Lupoi 0:24

Hi guys , welcome . To Prepare to Win , I'm Grace Lupoi and I'm here with David Lowe , the Automotive Sales Coach , and today we're talking through . I just want more for my trade . It's a pretty common objection that we get all the time .

David Lowe 0:34

Yeah , in fact , this whole series has been really about the things that every salesman is asking us , right . Every salesman and manager is asking us what's the best way to handle that . So we call them common objections . And I think when we prepare salespeople , we're preparing you to win right and to work with excellence , to become a master craftsman , and to do that you have to know what to do , why to do it , how to do it . You have to practice so you can do it . You have to do it right , right , do why to do it , how to do it . You have to practice so you can do it . You have to do it right .

David Lowe 1:12

It's also our responsibility to tell you what if things go wrong . Okay , here's the way it's supposed to happen , but what happens when it says road out , detour , right , and that's really the objections we're talking about . You're driving along , you're happy , and then I've got to take a detour . How do I get back on track , going ? And so we might call those detours objections , and there's so many common ones . I've been doing this 38 years . They haven't changed Right , and we've been covering them and going through . We're not going to give you one-liners .

David Lowe 1:45

There's guys out there overcome every objection and close every say Listen , all they're doing , they're making themselves rich , they're not making you rich , right , and so it's not possible . But I tell you what is possible . What's possible is transforming yourself into somebody who's better , so that you could think through what's happening here . Why is it happening ? How do I help my buyer over the sphere and continue to sail Right ? That's what a master does . A master doesn't memorize a book of closes . It's good to practice your lines , don't get me wrong , but you have to understand what's happening so you can apply it to the person in front of you , because although the common objections are the same , boy , they can be stated a million different ways .

Grace Lupoi 2:37

In fact , let's come up with some .

David Lowe 2:39

The first one was what I say .

Grace Lupoi 2:40

I just want pay off , I got to get pay off .

David Lowe 2:43

Okay , what's another one ? You might have heard Same thing but different way of saying it .

Grace Lupoi 2:47

I can't take a loss on my car .

David Lowe 2:48

I can't take a loss on my car . They've already taken a loss , right , right . The other dealer gave me there you go , I like this one . I was online and it said they're all the same . Yeah , I want more from my trade .

David Lowe 3:03

But , you're going to hear it in so many different ways . You might even hear this All I want today is to know what my car is worth . In other words , they've been online for 16 or 20 hours . They're unhappy with what they're seeing , saying what they're seeing , sorry , and of course they're saying to you I've seen that stuff and it's not good enough . But they don't really use those words . They just say all I'm really looking for is what you're going to give me for my trade right . What they're really saying is I want more than the market will bear . I'm looking for somebody to pay more in the market .

David Lowe 3:38

So we know that we don't actually appraise trades . The market does . We appraise the condition , but it's the market that values them . So you could put it that way too the market determines the dollars . All we're doing is appraising the condition .

David Lowe 3:56

Obviously , no two cars are alike Same year , same make , same model , same color , same equipment . One needs tires , one doesn't . One was parked , you know , in a parking lot . It was covered in dings and one was , you know . One was garage kept , one wasn't . One had environmental protection on it , so it looks great One . The customer decided to wing it , didn't take the protection . So we know that conditions of the actual vehicle are different , but in terms of the value of Right . So the appraisal takes the condition to make them equal and then the value is what it is , ok . So the buyer is going to say I want more than market . Oh , they don't say it that way , they say it this other way . I don't care what the market is , I want it . So maybe some do that , maybe you heard that . Ok , so you've got to have a plan right now . Our plan is kind of all encompassing . We know this is coming . So in our sales process , on the dealership playbook . In fact , right now is the course up the win-win closing . And part of win-win closing actually begins early , developing relationship and trust by seeking to understand our right , our buyer's goals . And then of course there's trying to understand their right , our buyer's goal , and then of course there's trying to understand their old car . We walk around it and do that silent appraisal .

David Lowe 5:19

There's some out there that say the silent appraisal is dead . In fact I don't know . The guy from V Auto says we shouldn't do , we should do an active appraisal . Well , he's not right , he's not wrong either . The active appraisal is a good bump , but the silent appraisal . There's so much more than just what he's saying . So I'd say I'm sorry , dale , but that's absolutely incorrect .

David Lowe 5:40

The salesman walking around that car with a buyer not only helps devalue it in the buyer's mind , it helps the salesman get more realistic , doesn't it Right ? But more importantly , it connects the relationship and trust . We learn a lot about our buyer around the trade . Silent appraisal still important . Mark my words . The whole truth is not . The silent appraisal is not .

David Lowe 6:03

So we know that we're going to start overcoming this early . And if we're facing it during the close , hey , I'm looking at my numbers and I got to have more for my trade . I can't take that kind of loss . I got to get payoff . We got to go back and say was our relationship with trust there ? Did we connect and lead or the buyer lead ? Did we do a good , sound appraisal , yes or no ? Does that make sense ? Right ? All that plays into how much of how many times I'm going to hear this objection and how adamant the buyer is going to be .

David Lowe 6:36

So the silent appraisal and the wholesale one right sell or sell , the welcome and the understand goals and silent appraisal works together . They really work and they will help with it , but they won't overcome it all the time . So we're still going to do everything right . And you're still going to hear oh , I can't take that from my trade . You're still going to hear it . So you need to be prepared , true , right , you have to have a plan . Good news is we're going to give you that plan , right , we're going to give you an overview .

David Lowe 7:07

If you're a subscriber on our Dealership Playbook , you already have access to it . It's all over . It's in our 21-Day Fast Start . It's all over . It's in our 21-day fast start . We talk about it . We talk about it in our win-win closing . We talk about it in our core classes sell the deal . We talk about it in all our quick review . We talk about it , we talk about it . We talk about it because it's so important , right ? So there's many ways for you to learn it and refresh and keep your knowledge strong .

David Lowe 7:34

If you're not a subscriber , we're going to kind of give you a look into the process of overcoming this common objection . I got to have more for my car , right ? Whatever way they say it , right ? So now , grace , we've sold cars together . That's how you got this job .

David Lowe 7:50

So those of you who don't know Grace during college she sold service and then she sold cars and that's how we connected . During her years of going to college and selling cars in the summer , we became pretty connected and I really was drawn to her hunger . I need to understand this . I want to know more Her ability to hear it , work on it and use it right away . That's really what a champion does .

David Lowe 8:19

See , there's information , right , there's even inspiration , but we want transformation . That's when the information and inspiration turn into action , and only you can do that . So we are trying to do that with the information we give . We're trying to inspire you . You know you can be better than you can Grace . You demonstrate why you have your job so young with Automotive Sales , because you're making such an impact with today's sales team . So it's great to have you . So you've gone through this as a salesman . I remember one specific deal was kind of a game changer and I think it was you called me . I got a guy coming back that says another dealer's given more for his trade . Is that right ? Okay , but it was not an intrepid , not an intrepid .

Grace Lupoi 9:08

Price for 300 . Okay , he was buying price for 300 . 300 . Okay .

David Lowe 9:12

All right , yeah , so we had that discussion and this is cool . Coaches by the way , managers , if you're on here , this is so cool .

The Power of Confidence in Sales

David Lowe 9:21

If you have a playbook , if you have a game plan , and your team comes up to you and says , how do I win with this situation , we say , let's check the playbook , let's look at the game film . That's all I did . My coaching over the phone was taking you to the very things we trained . So let's walk through that little , tell that story a little bit , if you would .

Grace Lupoi 9:47

Yeah , yeah . So I love telling the story , because it's one of those things where you hear it all the time right , you got to do this , you got to do this . Once you do it , though , it just builds so much more confidence and belief in what it is right .

Grace Lupoi 9:54

And so I had . I had done the training and I had watched the videos and talked to my my co-workers on what this means when a customer says , yeah , I need more for my , for my trade . And in this case he said , yeah , another dealership was giving me , I think , like five grand more than what we had given him for his trade , and so I didn't know how to handle it .

Grace Lupoi 10:13

I had watched the videos , the real trade value , walking through resell , re-ask , and so I called you and I said hey , I got a guy coming in . I don't know exactly the best way to go about this . I'm a little bit confused on how to do this . And you said , well , come down to the store and tipton , we'll practice it and then we'll use your number . So I have the deal sheet . Yeah , so I came down one morning , you and I practiced it . You taught me not just the what but really the why , right , which for me is a big thing .

David Lowe 10:40

I always ask why well , why do we do that ?

Grace Lupoi 10:41

why , and so learning the why and and having the confidence and practicing it with you . I go back to the store and he comes in and he's an older guy and I'm like , hey , what's up ? Hey , all right , all right , this is great . So we go through it and again you taught me the big thing , which is confidence .

Grace Lupoi 10:57

Yeah right , my confidence is his confidence right and so we , I do real trade value , I do the full , the full five steps of rese reseller . He doesn't ask a single question again and says , yeah , that sounds good , you're right . He signs it , and I remember I don't hide my face well , right , and so I'm excited and I leave and I call you and go oh my gosh , that freaking worked .

David Lowe 11:17

Yeah , it freaking worked . It freaking worked . That was it . It freaking worked . Well , duh right . This is not a theory , that's the really thing .

Grace Lupoi 11:25

I think that we sometimes think well , this situation is different , yeah there's no way it really works to a T like that , because he's got five grand more .

David Lowe 11:36

Now if you watched the episode we did , I did it actually on a mountain bike trail . I talked about looking straight ahead . Don't look at your feet , don't look at the rocks on the trail . When you focus on the rocks , you hit the rocks and it takes you down . Can I tell you something Easier said than done ? I busted my chain in my derailleur shortly on that trip .

David Lowe 12:01

Hitting rocks , there's a lot of paths that there's no avoiding things , and the better you are , the more practice you have right , the more confident you are and the more you keep your head up . So if I'm biking with better bikers which is most people they're better mountain bikers . They can make , they can ride over things that sometimes I fail to ride over because I'm halfway over and I'll look down right , am I really doing this right ? Does that make sense ? I think that it's really easy for you guys , as you're learning this stuff , to look down in the middle of it . I just want you to remember stuff , to look down in the middle of it . I just want you to remember go through the process with confidence and if it doesn't work , we've taught you what to do next anyway the five rules of negotiation . So what if it doesn't work ? You've got your next steps , but if you don't apply it , it can't work . There's no way you can cover . If I didn't look up , I couldn't even got a partway over that trail . Get as far over the trail as you can every time and pretty soon you'll be covering that without a problem , and that's what you did . So once you've applied .

David Lowe 13:13

So what you're talking about is buyer says he wants more first trade . We have our resale re-ask right . In this case , that wasn't really there . What was there was this guy calls on the phone and says what they're giving me more ? That's the rock . So you start looking at the rock . How do I ride over this rock ? And we said the same way . You do everything else . You look at where you're going , not at the obstacle , which is what you did . So you didn't have to go through it , presenting the deal with confidence , knowing in your backhand you had the five steps of resell , re-ask and the steps of real trade value . So let's go over that real trade value real quick . And here's the formula . Somebody wants more for the trade .

David Lowe 13:55

We always use empathy . I get it , I'm the same way , and then I'm going to let them know how foolish they are . Listen to how clever this is , I get it . I'm the same way . And then I'm going to let them know how foolish they are . Listen how clever this is , I get it . I'm the same way . I always want more from my car than the market says it's worth . There's that four grand , isn't it ? I want more than what I do . Everybody does , and it's okay , it's normal , yeah . So I'm kind of flipping the script right . Instead of I should feel bad , I'm not giving them enough , you should feel bad , you're asking , but don't feel bad because we all do . That's the psychology .

David Lowe 14:30

And , by the way , in our quick review course we break down the steps of our sale and the tools that we use , almost everything that we teach . We give you a short four or five minute psychology , human intelligence . Here's what we're doing and here's why we're doing it right . Here's why it works . I think it's really important . If you want to be a master salesman , if you just want to sell a couple of cars , heck , the market will take care of that for you . If you want to just make some money , the market will take care of that . If you want to build a career that you can count on and maybe even advance your career , become a master .

David Lowe 15:07

Who came up with the number ? The cool thing is , you and I walked around your car together , didn't we ? The car is gorgeous . I put all that in us . Everything we say there is designed to keep that relationship tight , while letting them know the market decides .

David Lowe 15:22

If you don't know that logic statement , get online , open it up and practice it . It's so powerful and inside that logic is real trade value . And Grace , you're getting more than you thought . You're not just getting the market value , don't forget . You got this discount as well . You add those together . That's like a blue book , blue book trade . There's a tax savings that saves you a lot . Oh , and , by the way , you don't have to touch your car . You and I walked around your car . Hey , just get a car ready , a nice one like yours , for the lot costs us two to four cents a mile , plus the tires you talked about and brakes . You're looking at two , three , maybe even $4,000 in normal recondition . That's money you keep , money you save . You add all that up . You're killing it on your trade . That's part of what we call real trade value .

David Lowe 16:11

Now , the cool thing is you had that in your back pocket if you needed it . That's like a get out of jail free card . Well , I'm dead serious . If you don't need it , you don't play it . Why would you use it if you don't need it ? But knowing you have it creates an incredible amount of confidence to go ahead and present your deal and ask for action , doesn't it All right ?

Mastering Trades

David Lowe 16:35

So today's episode , we want to talk about something I know you're facing and I think the typical salesman said I want more , four grand more for my trade . Oh my God . Well , I don't decide to trade . Let me go talk to my manager . Oh my God , it's costing you so much money . Stop it . Come up with a plan .

David Lowe 16:53

Hold on those cars , make yourself some money by understanding human intelligence , why people do what they do and use the simple . It's a roadmap . It's simple Our Resell , reask roadmap . Along with that real trade . There's simple steps . Anybody can master them . Anybody can master them .

David Lowe 17:14

All it takes is a little time and energy . Are you willing to invest some time and energy to close more deals for more money ? In a way , the customer says thank you , yes or no . Now that's up to you . I've done it throughout my career and it's paid off and countless others that go through this training have committed themselves and it's paying off . But that's up to you . Everybody's got to make their decision . You can just keep winging it and make what you make , or you can become a master . To become a master , you take personal responsibility for yourself , all right .

David Lowe 17:44

So today's episode all about this common objection I want more for my trade and instead of getting up and running to your manager , you have a plan . We're giving you a plan that talks about you know this empathy and this logic that really says you're getting more than you think . Right ? And of course , as soon as we're done with that , we close with confidence , and the way we do that is we take them off the trade and back to the car , reassure them it's a great deal and re-ask them without giving a penny . That's the key . If you can't do that , go online preparetowin . com or automotivesalescoach . com . Find out how simple it is to become a partner with us and have access to these powerful negotiated and closing tools . They will make you so much money and more than that . Even more importantly , it'll help you live really with that joy , peace and confidence , that satisfaction that can only come from the pursuit of your best self . Cool , like us . You have a question , put it out there . We'd love to do an episode addressing these questions as they come in and good selling .