Why Finance Managers Fail
I’ve had the privilege of working with the top producers in the game and just like all of us no one is perfect. The sales team always understands if their manager says no or cannot get the deal done they need to bring me the car deal. The reason for it is I know in any game there are turnovers and/or fumbles and an extra set of eyes always helps. Here are the top 3 reasons why Finance Mangers fail.
1. Don’t submit the deal – more often times than not the single reason I have been able to get more deals done than my finance team is because they spend so much time being the bank then submitting to the bank and letting them make the decision.
2. Don’t do the interview – the salesperson and even the desk manager can take the path of least resistance or give their “seasoned” salesperson too much credit. By simply getting out of my chair I’ve been able to find out
1. The customer has a 2nd job
2. The customer has money down
3. The customer has a qualified co-app with them
4. The customer has a paid off trade
5. The customer has a payoff- now this one always hurts but can be the difference in getting an approval and not.
3. Don’t do the presentation – Why this happens is beyond me, these are some of the reasons I get
1. Cash deal – yes I get it they are a little more challenging but if you go in with a defeated mindset you won’t sell anything
2. Prequalify – This is crazy- yes I know there are some customers that are very STRONG negotiators and take a little more work, but don’t be afraid to put in the work.
Now don’t get caught in these pitfalls. Treat everybody with respect and believe everyone is a car deal and most importantly work together. What you’ll find in doing so is you’ll win more often in the game of cars.