How to Manage Customer Concerns About Trade Value

4.I know for a fact that my trade is worth _______.

A.“And I would agree with you, perhaps though from a retail perspective. And should you wish to attempt to sell it yourself, you might very well ask that figure to start.”

The power in this one is that you fully agree with your customer right away, then explain a condition.  From this, you can again use a form of 9b about how difficult it is for private owners to receive a true retail price.  “More and more wish to purchase from a retail facility because they offer an inspected vehicle, a vehicle backed by a manufacturer, any warranty or extended service plan options, financing options or a place for you to address your concerns.  Private owners do not.”

B.“Please keep in mind that these other vehicles are sitting for those prices, not selling. You might see what others are asking, but for what they actually receive is not reported.”

If your customers mention that they have seen the same vehicle as their trade on another lot or in the paper for a certain dollar, you will now be able to respond quickly and strongly with this one.  For greatest impact, as with all others, this should be used within the Technique.  Third-party examples and pull-back or retreat statements are vital to properly setting up the close.  There will be specific examples of how some of these counters work within the Technique later in the program.  Moving on…

5.My bank/credit union says my trade is worth _______.

A.“I have no doubt. In fact, they use some of the very same sources that we do.  But, please keep in mind that it is difficult for the bank to come up with an accurate number with all of the inconsistencies in these sources.  That is why we utilize market reports and independent buyers as well.”

This concern is a common one, so please take heed of this counter.  Again, you do not deny that the bank has stated such a value, you agree that they use similar sources, but you confidently present why it is that your number is accurate and real and more than sufficient.

B. “These things will provide more accurate information based on regional differences and/or current incentives. And please understand that because of the great way we do business, we are always striving to obtain the highest value possible for your trade.”

Again, this explains a little about how and why the trade value came in as it did.  It also reinforces that we are obligated to do whatever we can to give them the highest value possible.  Also, without seeming too old-school, it doesn’t hurt to mention that the bank or credit union will not buy the trade-in and that they are receiving as much or more than they would if they were able to sell their vehicle at auction.  There is an ambiguity too, in that, the bank might give one value going in that would make it impossible for them to finance it on the retail side without an enormous amount of money down -tough situation for the retailer and the customer.

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