Triple Your PVR On Lease Deals
Triple Your PVR on Lease Deals: The Secret Sauce for Sales Success
Hey there, sales rockstars! Ever find yourself scratching your head, wondering how to squeeze more profit out of lease deals? You’re not alone. Many sales pros look at leases with a “meh” attitude, thinking they’re just cash deals in disguise. But let me tell you, that’s a rookie mistake. It’s all about mindset and knowing how to play your cards right. Let’s dive into how you can triple your PVR (Per Vehicle Retail) on lease deals and leave your competition in the dust.
Mindset: The First Step to Success
Here’s the deal: when you’re working with leases, don’t treat them like a cash deal. Sure, the payments might seem high compared to a finance deal, but that doesn’t mean you can’t make a solid commission. The secret is to shift your mindset and see leases as an opportunity rather than a hurdle.
Think about it this way: When you lease a car, you’re essentially renting it. So, imagine a lease as more of a “long-term rental” rather than a cash purchase. When you frame it like that, it opens up a whole new world of possibilities for selling add-ons and packages.
Handling Lease Objections Like a Pro
So, a customer says, “The payments are too high, and I’m not even going to own the car.” Your response? Hit them with the apartment analogy.
“Leasing is like renting an apartment,” you say. “When you rent, you pay for the space, and at the end of your lease, you’re not expected to make it look brand new unless you want your security deposit back. With a car lease, you don’t own the vehicle, but you’re responsible for keeping it in good shape. This is why our protection plans are a smart move—they save you from any surprise costs at the end.”
This analogy helps customers see the value in protection plans by comparing it to something they’re already familiar with.
The Pyramid of Responsibility
Now, let’s talk about responsibility. Draw out a pyramid for your customers:
- Normal Wear and Tear: This is on the lease company. They handle the regular upkeep.
- Physical Damage: Covered by your insurance, minus any deductibles.
- Excess Wear: This is where the customer’s liability kicks in.
Show them this pyramid to illustrate how protection plans can cover that tricky middle ground of excess wear. Explain how having these plans is like having an insurance policy for the unexpected.
Crunch the Numbers: The Calculator Close
When a customer is hesitating over the added cost of protection plans, pull out the calculator. Let’s say the protection plan adds $40 to their monthly payment. Break it down:
“Your current payment is $600. Adding $40 makes it $640. That’s about $3 a day. You already spend more than that on coffee or snacks, right? For just a few bucks a day, you’re protected from unexpected costs and can drive with peace of mind.”
It’s all about making the extra cost feel manageable and worth it.
Selling More Products
Once you’ve got a customer hooked on one protection plan, don’t stop there. Look for opportunities to offer additional products like tire and wheel protection, key replacement, or mechanical gap coverage. The key is to build trust and show them why each add-on makes sense.
Need More Tips?
If this sounds like the kind of insider knowledge that could boost your sales game, then you’re in luck! Check out Product Prep Live, where we dive deep into strategies for maximizing profits on leases, finance deals, and cash deals. It’s your go-to resource for leveling up your sales skills and learning how to close deals like a pro.
Ready to start making those leases work harder for you? Visit Product Prep Live and get the training that will help you sell smarter and earn more.
Until next time, keep hustling and make those deals happen!