Dealing with customers who have bad credit and low finances? Utilize the golden rule of car sales closing techniques: unbiased, quality service  

Dealing with customers who have bad credit and low finances? Utilize the golden rule of car sales closing techniques: unbiased quality service

If you’ve been in used car sales long enough, you know that not every prospect has a great income or credit score. In fact, most don’t. Once in a while, a person will come into your dealership in need of help getting approved for financing.

A smart salesperson can use basic car sales closing techniques to take these prospects who aren’t sure they’ll ever be able to drive a car off the lot, get them to sign on the dotted line, and then hand over the keys.

Are you wondering how that’s possible? We’re not talking about taking advantage of people in stiff financial circumstances. Quite the opposite, actually. The goal is to achieve the greatest benefit for all: the customer, the dealership, and you (the salesperson).

By treating your next “credit challenged” prospect like a king, you will be rewarded with more business and higher pay than any 800 credit-score customer could bring you.

The golden rule of car sales closing techniques: unbiased customer service 

The quality of service a person receives is usually aligned with where he falls on the financial spectrum.

People with perfect credit and good incomes receive great service. They expect a certain level of service because they’re “want” buyers, not “need” buyers. And because the cars they are looking for usually come with a higher price tag, they’re treated exceptionally well by the sales staff.

The majority of used car buyers fall in the middle of the spectrum. They come with a mix of marginal credit scores, driving histories, and financial situations. Good salespeople provide these buyers with excellent service, too.

And then there are the “credit-challenged” customers. These are the people who have financial troubles, bad-or-zero credit and are unable to secure financing. These customers may feel as if dealerships consider them to be nuisances. Not only are they anxious shopping for a car, but they’re worried they won’t get the service they deserve from a salesperson.

This tiered and biased system of customer service is a huge mistake. A great salesperson treats every prospect with equal respect, dignity, and patience. He sees the opportunity in dealing with prospects that have less-than-perfect financial circumstances.

Want more sales? Change your attitude about dealing with financially challenged prospects 

Opportunity comes to those with open minds. Don’t judge your prospects—embrace and offer them unparalleled service. Treat the next credit-challenged prospect like a king, he will find a way to do business with you. Why? Because he trusts you.

He will find a co-signer, save up for a down payment, or apply for sub-prime lending. In fact, he will do whatever it takes to purchase a car. And it all starts with treating him like a person. Not a “stiff.”

Here are a few car sales closing techniques (with emphasis on service quality) you can use:

  • Treat him better than his credit score. People with credit problems expect to be treated as a problem. Aim to “wow” your prospect right from the start.
  • Reassure him. If he brings up money limitations, respond with confidence. Give him assurance that you can work it out and discuss options.
  • Be honest and straightforward. Taking in all the details of his situation, explain in plain language what needs to be done to purchase the vehicle at an affordable rate.
  • Root for the visiting team. Show him that you’re rooting for his side. Be excited and enthusiastic about getting him into a new car.
  • Walk him through the dealership. Introduce him to people in the service department, on the sales floor, and in the back office. Show him how everything works. Be transparent.
  • Buff and shine the vehicle. Take the extra step to make his vehicle look and feel amazing. Make the entire outside and inside seem like a brand new, right off the assembly line.
  • Send a hand-written letter to follow up. Congratulate and thank him for allowing you to help with the purchase of his new vehicle. Attach cards for every important contact person at the dealership.

Your efforts will come back around when word gets out 

Giving amazing service to people who usually experience neglect has several payoffs. The biggest of which is a strong referral. Who do you think is more likely to brag about you at a party: the credit-challenged person you helped secure financing for a new car or the 800-credit-score person who came and left on the same day?

Car sales closing techniques don’t need to be complicated. Everything starts with excellent service and open-mindedness. When someone in a tough situation receives help, he will return the favor and send business your way.

Do you have an opinion about servicing customers with stiff credit? How would you handle the sale? Share your thoughts and stories in the comments! 

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