Like all professional careers, sales involves a wide range of techniques required to handle various situations properly. Even for a seasoned professional, it can become overwhelming at times. Too many options can lead to confusion and a decrease in revenue.
Don’t fret, though, because, as usual, we have you covered. We know what the best thing to say is, and we know exactly when to say it. With our guide, when someone asks for the “best price,” whether for a new or a used vehicle, you will know precisely what to do.
And, full disclosure, it’s not that you don’t want to offer everyone your “best price.” We know that’s not the case. Pricing structures can be complex and involve several variables. Oftentimes, these variables have nothing to do with the store’s pricing policy whatsoever. They depend on the individual customer situation, the bank, the vehicle, etc etc. Things that are so easy to get wrong, and thus, by offering too much too soon without knowing all the facts, you may run the risk of either confusing the client or scaring them into the arms of another store that doesn’t have their best interests at heart and just lies to them with a “best case scenario” offer, which never ends up happening!
Base Price
Starting with the base price is a logical method when receiving a phone call or web lead. The customer wants to know what they’re getting into when they agree to a car, and you’re the prime person to explain this. Plus, the base price is an excellent way of determining if we’re comparing apples to apples at the most fundamental model level.
What is the right way to handle this?
The one thing you do not want to do is oversell. The customer’s perception of the price is essential because they immediately start setting silent expectations. If you alter the price too much, they might think you’re too far over their budget. If they already have preconceived notions about price before you continue, then you miss out on the sale completely. Don’t makeup numbers when you can give them the true base price. NEVER LIE!
They also don’t want to know the exact price, but they do want to be given a range. Prices will fluctuate slightly from store to store, but there will be an even more significant gap if you get involved with a full option breakdown too soon. You don’t want to create a lack of trust right out of the gate. It makes for a dire situation. Giving a range covers your bases on this perceived inconsistency.
While acknowledging the fluctuation in price, it’s essential to provide reasoning. (Always disclose the what and the why!) Ensuring the customer understands that adding a feature would change their structure and how is critical. Remember, you do this several times daily and they do this, on average, once every 42 months.
The way this information is presented is essential. Phrases like these below immediately set off alarms in the customer’s gut:
- “It’s X amount, but it can increase depending on what you’re looking for.”
- “It’s on sale for X amount, but it can go up later.”
- -Or- (my personal favorite) “It’s only good today…”
Now that you’ve established that you know the price if you’re not in person yet, ask for the appointment. The goal is always to bring the customer in! Remember, WebMD is a great resource but if you want insurance to cover anything and have a prescription called in, you need to actually visit your doctor!
Since the base price technique is settled, what can be done for the Best Price New and Best Price Used techniques? While they’re broadly similar, they do contain a few nuanced differences.
Best Price New
Everyone knows the goal is to bring the customer in for an appointment, so start working towards it immediately. Always ask when the customer is available. Beginning the call with “When are you available? Does now or later today work better for you?” catapults you that much closer to a sale.
You want them to know you’re serious about the sale and especially serious about finding them the best price and the right vehicle.
If they don’t engage instantly, that’s okay; not everyone is truly ready to make a purchase, even though they will say they are. This is where your speaking skills shine. A great thing to point out is the way your dealership stands out. Talk about anything and everything that makes your store look better than the rest. But never disparage another store!
Think about:
- What promotions do you have going on?
- Charity that your team takes part in.
- How is your dealership involved in giving back to the community?
- What will get the other person to feel a sense of connection?
Provide logical thinking in everything you say. Remind the customer that if they don’t give you a chance, you won’t have the opportunity to get them the best price. They might be missing out on their best opportunity, but they have to give YOU a chance first to get there.
Once you’ve used your script, ask for the appointment! You’ve come so far; it would be a waste not to. If you’re not in person, your sale is your appointment, so don’t let it get away without a fight. There’s no harm in giving more information and asking, “When are you available? Does now or later today work better for you?”
Best Price Used
Although the techniques are similar, the Best Price Used technique is slightly different. It has all the same components as the Best Price New Technique, but each scenario has different ways to respond. Knowing the difference could make or break a sale.
When you get a call, the customer may ask what the best price they can get a vehicle for is. Let them know that since they called to ask, what they saw must have been at least somewhat intriguing—your response’s content and tone matter, so try not to make your comment sound negative. Say it with a smile: you want to help and connect with them in some way to show that.
The goal is still the same. Don’t forget—you want to bring the customer in for an appointment, so you want to go about that the same way. Start by asking, “When are you available? Does now or later today work better for you?”
Similarly to the last technique, talk up your dealership. Speak about what puts you on a pedestal compared to the others. You want to answer the question “What makes your team different?” but in a different manner than before. Here, you want to focus on what makes YOUR used vehicles the BEST option.
Think about:
- What do you do to your pre-owned vehicles?
- Do you go through a multi-point inspection process?
- How long have you been in the area?
Even though the techniques are slightly different, the endgame stays the same. ASK FOR THE APPOINTMENT!
Remember, an appointment is a sale you don’t want to miss.
As the COO | Partner of Phone Ninjas, Chris delivers leadership, coaching, and mentorship to 55 team members providing software sales and phone skills coaching. He fosters powerful partnerships and collaborations with leaders across various business sectors, establishing expectations, communicating vision, and escalating performance to maximize productivity and effectiveness.
Chris is an innovation-driven business executive with over 25 years of experience delivering leadership to teams of up to 75 overseeing development, launch, and sale of website lead acquisition, reconditioning process software systems, and technology that support automotive dealerships across the U.S., Canada, and Europe.
