Why selling cars like refrigerators helps Dealers sell easier and sell more.

Do you remember the days where the deal was done with this 4 square?

It looked messy but it got the job done. Unfortunately it was not the most professional looking presentation of payment options. It made the customers nervous and often resulted in an intense negotiating process.

We created a presentation tool that was not only faster and more accurate than the traditional 4-square, but we made it better than any other desking tool out there.

It has full compliant quotes that can generate a multi-payment document within 6 key strokes.

This allows you to drastically cut the amount of time it takes to close the deal.

What’s this have to do with refrigerators?

Well, we discovered that consumers were conditioned to haggle for certain high-price financed purchases (like cars) but behaved completely different when making other large purchases. Finding a way to sell without the intense haggling and negotiating war -thus making the sell easier for the consumer- became our obsession. It was one of the best things to happen to “the close.”

I was working with several dealerships in the early days of this company and I noticed when the deal got to the desk, the real deal began. And lots of times the deal nearly fell apart -many times it did.

In the tiny office just off the showroom floor under the fluorescent bulb, was Joe salesman behind the desk and John and Jane Doe on the verge of a min-van purchase, uneasy and on the defensive.

In order to come to an agreement, Joe pulls out a sheet of paper and pencil and gets to doodling the industry standard for presenting financing options: The 4-square.

In four quadrants in painfully bad handwriting, he scribbles trade value, the purchase price, down payment, and monthly payment of the vehicle.

It was a messy jumbling of numbers and ink that made the customers nervous like they were suckers on a street corner playing three-card monte.

Instead of an agreement, it became a negotiating war that rivals the NBA lockout, and the dealer lost many deals because of it. Why? Because, the sale depended on the ability of the sales person to haggle and negotiate. It cheapened the price of the car and the image of the dealer. There had to be a better way.

There was.

Even if the options that were thrown on the four-square were accurate it didn’t matter because it didn’t feel professional or legitimate. Let me tell ya, nothing says illegitimate like a little head math and scribbled chicken scratch. Customers became very weary and often ran the other way. We noticed this kind of haggling price war never happened at the appliance store.

I went to but a refrigerator and noticed the payment options were in a very clear take-it-or-leave-it fashion.

“Mr. Smith this brand new Kenmore refrigerator is $1,200 dollars. You can finance with us at X APR for 6, 12, 24 months or pay in full. What would you like to do?”

Right there in front of me, crystal clear as day, were my options and I didn’t once feel like I was being “had.” The price was presented in a fashion that conveyed professionalism and legitimacy that said, “These are the options and they aren’t gonna change because you threaten to walk”

So we sought to create a payment presentation software that conveyed exactly the Unchangable payment options that were so crystal clear to the customer they knew exactly what their options were so they could reach a payment agreement and buy without reservation.

That tool is Fast Lease Multi-Payment.

The Fast Lease module uploads all current rate and residual tiers and programs from all of your captive and non-captive lending institutions each night so that the data is always current. Fast Lease will automatically “tier” your deal – giving you the rates and residuals, leasing rules, max advance information, multiple security deposit scenarios, and acquisition fee rate adjustments on the particular lease program and the customer’s credit score.

The Advent Multi-Payment

A detailed financing and customer presentation tool that presents up to 25 payment options at a time. Simply enter the customers’ down payment and desired payment terms, and Multi-Payment presents the cash sale price and up to 12 retail and 12 lease scenarios- depending on the desired transaction.

Multi-Payment generates a concise presentation of a professional quote for the customer that places emphasis away from the sales price and toward payment.

The key benefit

With a crystal clear presentation of the options to your customer you eliminate doubt, fear, and uncertainty for them and thus maximize gross profit and reserve in the deal. All while minimizing and eventually eliminating the stress of haggling over a sales price. No body wants to do that.