How To Sell Cars Online or Offline (PART 18)
TRANSCRIPT: When we do self-desking, these have to be to-the-penny calculations, don’t they? Plus, throughout the online process, they may want some assistance. You should have a BDC capable of answering questions via a robust online chat texting partner. “Steve, oh. Wait, Steve, we got to add a BDC.” I’m not talking about 10 people.
There’s not going to be more than one person or two tops at any time ever trying to buy online. Most of them aren’t going to need your assistance but this BDC, it’s a step up from appointment setters. It doesn’t mean your current appointment setters can’t do it but it doesn’t mean you have to have desk managers in this spot. These people are going to have simple questions, mostly how to use the tool or, “Hey, I entered the wrong things,” or whatever. These people have to just be helpful, ready to chat, text, Facebook messenger, whatever and answer the customer’s questions even if it’s on the phone. A lot of times just get them to come in and bring their tablet with them. This BDC’s going to build trust. It’s a real person.
Also, providing the buyer with additional assurances along the way can also resolve most if not all of the remaining trust issues with buying a $40,000 item online, sight unseen. These assurances allow the prospect to pull the trigger and commit. Things like what the Ricart Group does. The best value guarantee, 72-hour exchange policy, lifetime power train warranty but even other assurances like when would you like to make your payment?
This is part of the process that they need to do online because this is the stuff that they would do offline with your F & I manager so they can see everything, that everything’s spelled out in the payment, they understand everything. There’s complete transparency here. This builds trust just like you’re BDC’s going to build trust with them.
“Steve what about F & I add-ons? I don’t want to lose my add-ons. I’m doing great with this. I got to get them in the store for the add-ons.” Hang on here. Time out. According to that Car Biz Today article, more than 50% of consumers buying online add at least one F & I product. You’re probably doing a little better than that right now but there’s no commissions with this. Let’s be clear. Present add-ons in terms of monthly payments, though, which was interesting.
One of the tools we looked at online is presenting gap coverage at $800 flat versus presenting it as we see with the AutoFi piece. It’s 515 total or $10.07 in monthly payments. When done right, you will sell more F & I products. “Steve, don’t all the products do the F & I add-ons in terms of payments?” No. Unfortunately, they don’t.