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Why the Sales Process needs to be different:

Let’s review a generally accepted sales process as it exits today in modern sales departments:
1.   Meeting & Welcoming
2.   Counseling / Qualifying
3.   Vehicle Selection
4.   Vehicle Presentation
5.   Vehicle Demonstration
6.   Facility Tour
7.   Payment Based Financial Proposal
8.   Closing / Negotiations
9.   Turn Over to Financial Services Office
10. Delivery & Follow Up
It stands to reason that we need to understand why this sales process might not be as productive as we would like it to be when dealing with Non-Prime prospects.  If for example, a credit challenged customer were led through this process, they may be led into a vehicle that was out of their payment range fueling false expectations or unfortunately, be declined for credit. 
The following represents the BEST PRACTICES on how to deal with a Non-Prime customer:
1.   Meeting and Welcoming
2.   Qualifying
3.   Credit Bureau Inquiry &/or Credit Counseling
4.   Payment Call
5.   Structuring the Deal
6.   Vehicle Selection
7.   Vehicle Presentation & Demonstration
8.   Secure the Deal & After Market Products
9.   Delivery
10. Follow up

It is crucial then to identify a Non-Prime customer as quickly as possible. A successful Non-Prime department cannot run autonomously but requires the assistance and understanding from all employees of the dealership including the receptionist and merchandising coordinator.
Identifying a Non-Prime custmer as quickly as possible is essential for improving results. Offering a 'PRE-APPROVAL' service for your customers is the easiest way to flush out a potentially credit challenged customer. Once identified, a credit application should be completed and a credit report should be pulled to develop a submission to a Non-Prime lender. A Non-Prime lender has an appetite for an individual who is past the through of their credit woes and are still not having difficulty managing their current obligations. This is were a knowledgeable Business Manager can make a huge difference; probing a customer's credit history and looking for resovle will allow for more deals to be approved. Reviewing a customer's credit history with them manages their expectations because you can build a brighter picture of their future if they elect to go with your solution. Most customers are told that they don't qualify for a Prime loan and are not shown why. This strategy will yield a higher customer acceptance of a higher interest rate solution.
Once a payment call has been secured, a deal needs to be structured in a way to find a vehicle that will 'book-out' under the advance limits of the lender while falling with the maximum payment the customer has been approved for. Most Business Managers will offer the customer a choice of vehicles and then proceed to present and demonstrate their vehicle of choice.
Most customers will be quite willing to register an extended warranty and some form of payment protection in order not to have any circumstances arise that may impede their ability to maintain their newly established credit.
Non-Prime customers are very loyal and will be the first to send you referrals. They are also likely repeat customers as most step out of their initial solution for another vehicle within 3 years. Change your process and you'll get more deals approved and more deals delivered.
For more information about developing your Non-Prime initiatives, contact Hector Bosotti, National Trainer & Consultant for Wye Managemenet at .

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