Creating Connections With Credit Challenged Customers

Creating Connections With Credit Challenged Customers

Let’s say you are a Buy Here Pay Here store. We don’t want them to focus on a car because they may not be able to get that one. But, it doesn’t mean we don’t need to create a connection with our prospects. So how do you build rapport with your customers?

First off, if they are focused on a specific car or something like down payment, monthly payment, etc we are going to redirect them. Now, I know this is going to be hard. Every single customer service bone in your body is going to want to answer every question they have while you are on the phone. Do Not Do It! Just don’t. It rarely ends the way you hope because once they have the information they want, there is no reason to give you information you want like, say their contact information?

Taking Control Of The Call

So here is what you do: Acknowledge their interest and ask them if they are familiar with your dealership and what you have to offer. Every store has something that sets them apart from other stores – Be it the warranty you offer, free oil changes, the fact you can get everyone approved, you have roadside assistance built in, or even that you have been in business for half a century and excel at this style of financing.

Then focus them on what is needed to get pre-qualified. We do need to be careful with our word choice here. I would recommend using a phrase such as “Let me ask you a few questions to see how we can help” vs mentioning getting them pre-qualified due to how a customer can perceive that phrase. It can make them think about credit being pulled or the fact that they haven’t qualified at other stores, so the simpler the better.

For most of you, the questions are simple –

• Are they working or have a steady source of income that they can provide proof of via pay stubs or bank statements?
• Do they have a valid Driver’s License?
• Can they provide proof of residency?

If you want to add more into these basics, be careful with what you ask. It may seem natural to ask if they have a down payment or how much they want to pay a month, but these are questions we do want to avoid if possible as they can quickly turn into objections. What if they don’t have any money to put down or their idea of a reasonable payment just isn’t? Once they are at the store, you have them approved, and a vehicle selected it is so much easier to get them to increase what they are willing to pay or what they can put down.

It can be tempting to just answer questions as they come up, but remember – we are sales people – You personally may not be selling the car, but you are selling the dealership, the appointment, etc.