Why today’s automotive finance managers must adapt to meet the evolving demands of the modern car buyer.
Gone are the days when the finance manager could sit back in the office and summon customers with the press of a loudspeaker button. Today’s consumer is pressed for time, and the old, traditional approach of leaving them alone for extended periods is no longer viable. We know from research that most car buyers are experiencing apprehension when stepping into the dealership, so it's vital to rethink how we engage with them, especially after they’ve already said “yes” to purchasing a vehicle.
Rethinking the Waiting Game
How long does the average customer wait after agreeing to buy a car? Often, too long. Instead of being welcomed with efficiency and clarity, they are often left in limbo, which can erode the rapport your sales team has worked so hard to build. Worse, they may be called over a loudspeaker to enter the finance office—a jarring and impersonal experience.
Think about it: the customer has likely been sitting for 30 minutes or more, anxious about what comes next and when they will be done. Some may have had a negative experience in a dealership business office before, so the waiting room builds up the wall of mistrust that your sales team spent time breaking down.
A simple introduction from the business manager right after the customer agrees to the purchase can be a game-changer. Saying hello, offering a drink, and explaining the next steps not only puts customers at ease but also sets the stage for a more collaborative process. It's about building trust and showing transparency right from the start.
Engage Beyond the Desk
When was the last time you, as a finance manager, stepped outside your office to walk a customer’s trade-in vehicle and verify its mileage yourself? What did you notice? More importantly, what did you learn about the customer in the process?
Walking the trade-in isn’t just about numbers; it’s an opportunity to connect with the buyer on a personal level. Maybe their car has door dings or curbed rims that indicate their lifestyle, or a bumper sticker supporting their favorite sports team—perhaps the same team you root for. Maybe there’s a kayak rack on the roof, and you’re both outdoor enthusiasts. These details not only build rapport but also give you valuable insights into how your F&I products might genuinely enhance the customer’s ownership experience.
The Value of Walking the Floor
Finance managers today need to be in constant motion—walking the floor, checking in with the sales desk, and making rounds in the service department. Have you ever bumped into a customer and struck up a casual conversation while handing them a bottle of water? These seemingly small gestures can have a significant impact. You might find that the customer, who initially seemed hesitant, returns later in the day to finalize a purchase simply because of your friendly demeanor and engagement.
Being visible on the floor not only humanizes the finance process but can also lead to unexpected opportunities. If a customer feels comfortable seeing you throughout the store and not just behind a desk, they’ll be more inclined to view the finance office as a place of partnership rather than pressure.
The Power of Simple Touches
All these “touches”—the simple interactions and personal engagements throughout the day—add up. They create a more positive, welcoming environment for the customer and can directly influence your success. By staying mobile, engaging with customers, and showing genuine interest, finance managers can build stronger relationships and, ultimately, drive more sales.
The worst that can happen? You stretch your legs. But the best-case scenario? You become an integral part of the customer’s journey, leading to better results for your dealership.
If you’d like to continue the conversation or share how these small touches are impacting your dealership, connect with John Potts at jpotts@ezvds.com or on LinkedIn.
