How to Close Car Deals Faster
Since selling cars is the bread and butter of your car dealership, your top priority is closing as many deals as possible. Doing this requires a combination of having the right car sales strategy and working with the right auto lender or finance company that can fund your car deals quickly.
As you’re aware, a big component of closing the deal is how well your sales staff connects with your customers. The car salespeople who are generally most successful are those who are intentional about listening to understand their customers’ wants and needs. They are also honest, knowledgeable and provide quality customer service.
Here are a few car dealership best practices to ensure your sales team is doing their part to close the deal:
- Ask the right questions.
Asking the appropriate questions at the right time will help you establish trust and a good rapport with your customers. Asking how you can help, what vehicle they’re interested in, what they’re budget is, how much they can afford for a down payment, etc., will help you figure out what their wants and needs are early on. - Identify pain points and focus on solving the problem.
Once you’ve identified the customer’s pain points – which may include financing and credit limitations or an issue with a previous vehicle – inform the customer of the vehicle and financing options your car dealership has available that can best fit their needs. - Be transparent about car financing options.
Once you’ve narrowed down vehicle options and gone for a couple test drives, the customer should be ready to discuss their car financing options. If you are working with a customer who has bad credit or no credit, they may be having difficulty getting approved for financing.
Credit Acceptance works with more than 12,000 enrolled car dealerships across the nation to offer non-prime and subprime financing options to credit-challenged car buyers, giving you the ability to approve every customer for financing on nearly any new or used vehicle in your inventory.
How you can get your deals funded faster
Many auto finance companies take days to fund a contract. Dealers enrolled in our Portfolio Program receive same-day funding with eContracting. Processing begins as soon as the contract package and funding proofs are electronically submitted and approved by Credit Acceptance.
If your car dealership is ready to approve more customers and close deals faster, simply fill out the form on our website to learn the benefits of becoming an enrolled dealer!