How To Sell Cars Online or Offline (PART 12)

How To Sell Cars Online or Offline (PART 12)

TRANSCRIPT: There are already applications out there that your customers can use, things like Chase Auto Direct and AutoGravity. These give customers online finance offers right now. They can do the deal online without you, completely bypassing you.

Make no mistake, the reserves are baked in so you’ll still get your reserves if you’re a Chase Auto Direct dealer or an AutoGravity dealer. I’m not saying, “Don’t do business with them.” But, you got to do it on your website, too. In fact, that’s where my focus would be. Even though the reserves are baked in, your customers choose where they want to buy. Imagine a Chase Auto Direct customer. What’s the first thing they do?. They configure a vehicle. Then, they find the seller. Now, it’s all down to price. Maybe you’re going to lose the deal before Chase ever starts to give them their financing options. You’ve got to be in control of this because online buying is happening right now. It’s going to happen with or without you.

AutoGravity even says, they tell consumers this. “Take control and save time with personalized car financing offers in the palm of your hand,” telling the consumer to take control and they will. The consumer will chose where to buy. It will be based on price. You need to control this. Think about it. When a third party brings a pre-finance customer, then the only difference between you and your competitors is price. When you control the customer from the beginning to end, you still get to earn good grosses. Dealers are doing it today because they control the experience from beginning to end.