Before a customer buys a car from your lot, they want to ensure that they are protected. Protection programs can give car buyers peace of mind as they walk out of your finance and insurance (F&I) office. They can leave worry free. But how important is providing protection for customers?
Running a car dealership is one of the most challenging careers, because you never know whether a customer will go to a competitor in the blink of an eye. You have to know what your customers want ahead of time if you want them coming back after buying or leasing a car, or just thinking about it.
It's a fact of life in auto dealerships that most customers are skittish when it comes to purchasing a service agreement or extended service contracts when they buy their new or previously owned vehicle. You have heard it all: extended service contracts aren't worth the extra money because your brand never breaks down, or the buyer simply can't add any more money on the purchase.
We all know the value that a dealer vehicle service contracts can bring to a customer. So how do we get them to see it as a benefit, and not just an added cost? Looking through the customer's eyes can help us identify what they are looking at when purchasing a car and how to show them what a vehicle service contract can offer.