How to sweep unqualified buyers?
Title plain and simple. How do I get people who are unqualified to buy whether they say they have bad credit or they bring in their lease that’s 3 months in to trade?
Posted Jul 2, 2019, 2:27 AM UTC
1018
If they win bad credit bingo they get preapproved or they get walking.
3
If they come in hot on something sexy on the front line, credit app and squeeze a downpayment. Then sell them something or broom them.
2
[deleted]
1
You get them to do a credit app and hope they get approved.
2
If they say anything along the lines of "I'd take anything I'd get approved on" or "If my payment is X I don't really care that much about the car" run them straight to the credit app.
If they have a trade, show them how upside down they are and ask them if they are prepared to pay the difference today in cash... when they say no then go straight for the credit app to "get a starting point"
1
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0
It's not your job to sweep them, it's your job to properly qualify them and then follow your store's process.
"Here at Vertchewal Motors, we do business with 39 different lenders so that we can offer you the best interest rate AND term... is there anything in your credit past that's going to stop our business manager from doing his best work?"
"Ok, just so we don't run the risk of wasting your time, how about we get a customer statement. Then, we'll have the bank direct us towards what vehicles would work rather than running the risk of showing you the wrong car that the bank won't finance - sound like a decent strategy?"
Then, get a credit application - don't call it a credit application, call it a customer statement. No one has ever said, "Don't give them a customer statement"
-16
Why lie about what it is? People hate that.
17
No he’s counting on people being completely ignorant
1
Bruh. I worked at a bad credit FCA store for years.
This works better than whatever the fuck you just said:
"How's your credit?"
"it's not good"
"let's see what we're working with and figure out a plan. What's your date of birth? Social? Great. Sign here for permission to pull your credit and we'll get this figured out together"
RRR - real recognizes real. Sit them down and give them the facts of life. Or stand them up and put them in their place. Don't pussy foot around anything.
12
That wasn't the question.
I'm assuming that if someone worked at a store that specializes in secondary finance, this is a no-brainer.
The question was, "How do you sweep unqualified buyers?"
So far, amid the flurry of down votes - taking away my pretend points, no one has offered up a single solution that works better than mine.
Act like using the words, "Customer Statement" and then sitting down and gathering the particulars of someone's job, housing, and credit history is lying? Give me a break. Calling this line of conversation, "Pussy Footing" when the last dealership pulled their credit and shopped them to a dozen lenders and they aren't interested in that path. I'll take the closing percentage on my solution until a better one comes along.
0
[deleted]
1
Here is what I can say, zero resistance when asking for a customer statement. Occasional resistance when asking for a credit application - hence, I don't ask for a credit application.
I guess that sounds cheesier than it is - typical car salesmen - full of complainers but rare to find anyone with a solution.
1
Seriously... "Customer statement"? Shame on you.
11
That’s like “monthly investments” instead of monthly payments lmao it doesn’t fool anyone dude
6
It's not a monthly payment, it's a scheduled reverse dividend!
12
With a small initial "investment" you are looking at $xx.xx/ month.... Shut up lmao
4
Now lets fill out a "Customer Statement" and I can put that in your driveway "today"
4
Customer statement? Ew. Just say credit app, wierdo
9
Get them to fill out a credit app and see if they can get approved. Even if they say their credit is bad, miracles happen.
Do your job. You aren't the bank and you aren't the finance manager: they sell loans, you sell cars.