Customer Threatens to "Shop Around"

all right so you want to shop around I tell you what you know what it might be the right thing to do okay it might be the right thing to do you know earlier we had talked remember when I showed you the financial statements from all the publicly held retail automotive companies and I showed you what they made relative to what Walmart made okay that's all fine and dandy but if you still want to shop around that means that you believe that there is a significantly significantly bigger discount out there to be had right yeah if you didn't believe that you wouldn't shop around but the fact that you want to shop around means that you don't think we got the best price in town you know what you're right we don't I'd love to tell you we did but if I did say that it would make me a liar and I'm not gonna lie to you is our price great yeah it is is it fair absolutely might there be somebody that sells it for less yes because I don't know what another dealer is gonna do but the question you've got to have in your mind is how much more how much a bigger discount than you get because if it's significant you need to go get it and as a matter of fact I will assist you I told you I'd give you a map I will give you a map I'll give you the turn-by-turn directions because if I can't justify our price shame on me you spent three and a half hours here I'm gonna reward you with a map anyway but if you recall when we went through this I showed you how this company made six and a half percent grub gross profit this one was seven point three that's seven point three that's six point nine that's six point five right okay here's an odd thing almost everybody knows that we all buy the cars from the factories for the same price I mean every Hyundai store in the DC area all pay is exactly the same price for the car you're looking at okay but what people don't know is we pretty much all sell them for the same price too now they wouldn't have any idea that we all sell them for the same price because all of us swear in our advertising whether it be a newspaper television radio or on the internet or us screaming at you right now we're the low priced high-volume store well you know what it stands to reason that everybody can't be the low price torque anything you got to have a first lowest a second lowest a third lowest to fourth lowest to fifth lowest and sixth lowest but the question is what's the difference between the cheapest and the most expensive place to buy a car in Washington DC I already told you you're gonna get a good deal because the market demands it right but if there's more discount out there to be had let's figure out what it is these companies can help us because if you'll remember the most expensive place to buy a car was from Penske or auto nation that's five or six hundred stores they made a bigger gross profit on their cars than anybody else the least expensive was Group one and Sonic I think six point five that meant that the difference between the cheapest and most expensive place to buy a car and by the way this wasn't just Hyundai's this was every make and model all across the country the gap among Hyundai dealers in Washington DC will be much smaller but we'll just use this gap right here which is 0.8 percent now we're looking at a twenty eight thousand dollar car do me a favor punch in twenty eight thousand and multiply that times 0.8 percent okay if if we're the highest most expensive place to buy a Hyundai store today I don't think we are but if we were that means there's two hundred twenty four dollars more to be saved out there all right now by the way no one store is always the lowest price store if they were they'd run out of money they'd go out of business no one price one no one store is always the highest price store if they were they'd run out of customers they'd go out of business so everybody is right there together if we are the highest and there is a low store out there that's two hundred twenty four bucks and here's what you have to do to go get it you got to take yourself to Waldorf you've got to take yourself to College Park you got to take yourself to Bowie you got to take yourself to Alexandria all right but let's say you don't have to do let's say you just run down to waldorf what is it 30 minutes away okay let's say you go down there you spend a couple hours with them and bingo you find the cheapest place to buy a Hyundai in the DC area you high high five okay but they don't hand you two $100 bills a twenty and four ones because you're going to finance this car aren't you right okay I take 224 divided by 60 okay let's tack on 27 cents for interest that means here's what your reward is for leaving here leading the perfect car going to Waldorf spending another three hours with a brand new salesperson going through another sales process and just having yourself a grand old time the reward is four bucks and it shows up in the form of a payment that's four dollars later than it would be here in 45 days your last installment is paid in the year 2017 so Kip what you can do is you can go hunt down yourself a four dollar bonus or you can say Steve go get my Hyundai cleaned rebuffed shined pilots Reeve acumen make it standing tall so I can go take it somewhere and have some fun which way do you want to go I get all that but I've seen this bar advertised

Channel: Steve Richards

Views: 716,939

Rating: 3.8527389 out of 5

Keywords: steve, automotive sales training jobs, automotive sales techniques, Business, Sales (Job Title), New strategy, strategies, Automotive Industry Automobile, automotive, Automobile (Industry), sales, automotive sales training, richards, RedZone Sales, car, RedZone, Objection Handling, sales training, modern, Steve Richards, Automotive sales tips, car sales training, training, price objection, selling cars, Coach, Automotive Industry (Industry)

Id: usAchl-_d98

Length: 5min 47sec (347 seconds)

Published: Sun Nov 13 2011