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ASSUMPTIVE CLOSING QUESTIONS • • • • • • • • • • • • •
Would you like to do that as an outright payment or do it interest free on a monthly basis? How many years warranty would you like? If we get an agreeable set of numbers are you looking to do business with us today? Are you looking to use our pay & go service today? What value do you see in it? Can you afford not to protect your car? Would you like to do at least 12 months warranty so you’re covered for the first year? Are you going with the full 3 years cover on the SMART protect? Where does this number need to be to get your business today? What is your monthly budget? “£250” and up to? “£270” for the right car? Shall we go ahead? Shall I add that to the invoice? “Gard x” is only £699 ALWAYS SHOW THE FULLY PROTECTED PRICE!! PRICE OBJECTIONS
Don’t respond right away, let the guest talk more about the objection. Don’t introduce price too early in the conversation, save it until the end. Make sure the guest loves the car and features, then introduce price at the end. Guests buy on emotion! Focus on selling the value, when you get a price objection, usually it means you haven’t done a good enough job of selling the value. Let’s break it down into smaller numbers, a £1995 warranty sounds expensive. However £665 per year sounds much more affordable. £55 per month seems very achievable, £12 per week is a no brainer! £1.70 a day is a less than a cost of a coffee! Make sure we put it into perspective, anything is affordable providing enough value has been built. When in doubt, don’t be afraid to ask “Why do you say that it’s too expensive?” This will help prompt an answer from your guest and get you to the bottom of why they find it expensive, it may be they don’t have the funds in place, it could be they’ve seen it cheaper elsewhere with a competitor. Why don’t you finance the depreciation of the car? Great news, we offer the SMART protect and Big Asset Protection interest free to make it as affordable as possible.
Cost £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £
Profit in Bank Asset Protection 299 399 499 549 Smart 299 399 499 GARDX 699 650 600 550 500 450 1 year Warranty 1,095 1,050 1,000 950 2 year Warranty 1,595 1,550 1,500 1,450 3 year Warranty 1,995 1,950 1,900 1,850
£ £ £ £
152 235 310 386
£ £ £
127 174 217
£ £ £ £ £ £
509 468 427 385 343 302
£ £ £ £
630 592 550 509
£ £ £ £
943 906 864 823
£ £ £ £
1,168 1,130 1,089 1,047
3 year Finance Warranty
Warranty Term 3 Months Car price + admin
GARD X
+ (£699 price) = + £23.38 monthly + (£499 price) = + £16.69 monthly
SMART
3yr Big Asset Protection
+ (£399 price) = + £13.35 monthly
4 year Finance Warranty
Warranty Term 3 Months Car price + admin
GARD X
+ (£699 price) = + £18.53 monthly + (£499 price) = + £13.23 monthly
SMART
3yr Big Asset Protection
+ (£399 price) = + £10.58 monthly
5 year Finance Warranty
Warranty Term 3 Months Car price + admin
GARD X
+ (£699 price) = + £15.62 monthly + (£499 price) = + £11.15 monthly
SMART
3yr Big Asset Protection
+ (£399 price) = + £8.91 monthly
HP/PCP Numbers
12 months
24 Months
36 Months
+ (£1,095 price) = + £36.63 Monthly 12 months + GARDX
+( £1,595 price) = + £53.36 Monthly 24 months + GARDX
+( £1,995 price) = + £66.74 Monthly 36 months + GARDX
12 months + GARDX + SMART 12 months + GARDX + SMART + Asset P.
24 months + GARDX + SMART 24 months + GARDX + SMART + Asset P.
36 months + GARDX + SMART Fully Protected = £120.16 + CAR Price Over 3 years
12 months
24 Months
36 Months
+ (£1,095 price) = + £29.03 Monthly 12 months + GARDX
+( £1,595 price) = + £42.28 Monthly 24 months + GARDX
+( £1,995 price) = + £52.89 Monthly 36 months + GARDX
12 months + GARDX + SMART 12 months + GARDX + SMART + Asset P.
24 months + GARDX + SMART 24 months + GARDX + SMART + Asset P.
36 months + GARDX + SMART Fully Protected = £95.22 + CAR Price Over 4 years
12 months
24 Months
36 Months
+ (£1,095 price) = + £24.47 Monthly 12 months + GARDX
+( £1,595 price) = + £35.64 Monthly 24 months + GARDX
+( £1,995 price) = + £44.58 Monthly 36 months + GARDX
12 months + GARDX + SMART 12 months + GARDX + SMART + Asset P.
24 months + GARDX + SMART 24 months + GARDX + SMART + Asset P.
36 months + GARDX + SMART Fully Protected = £80.25 + CAR Price Over 4 years
Procedure for Cash: £7,000 Max Borrow for example. Using 3 calculators: 1 C.: Car price - example deposit. 2 C.: 36 month’s interest divide by 3. Thirdly divide the yearly interest by 12. Disadvantages: Opportunity cost of investing or buying an appreciating Asset. Build value in the products! Solution: Ask ‘how long did it take to save the example borrowed amount?’ (First calculator) Show the total interest over 3 years. (Second calculator) List the benefits: No early repayment charge. Higher financial security with more money saved in the bank. Yearly interest divided by 12. Using 1 month worth of interest demonstrate the amount payable per month adding each month individually. Highlight the benefit of no early repayment charges. Sale the ideal of having more choice and time to make the full payment. (Calculator 3) Close: If I can save you the total interest over 3-6 months, will you take finance?
Procedure for External Finance HP: £7,000 Max Borrow for example. Using ‘Money super market loans car finance calculator’ compare both rates over 36 months. Disadvantages: £495 admin Early repayment charges (typically 2x the monthly payment) Build value in the products! Solution: Using the loan calculator, add the £495 admin fee show the new monthly payment against our monthly payment on the website. List all the benefits: No early repayment charge + Pay and go Close: If I can save you the difference “__”, will you take our finance?
Procedure for Loan: £7,000 Max Borrow for example. Using ‘Money super market loans car finance calculator’ compare both rates over 36 months. Disadvantages: Early repayment charges (typically 2x the monthly payment) Solution: Build value in the products! List all the benefits: No early repayment charge + Termination rights + satisfactory quality disputes Close: ‘If I can save you the difference “__”, will you take our finance?’ Or Using ‘Money super market loans car finance calculator’ Show their new monthly payment with the additional cost of the protection. Emphasis on the value for money.