Cash and lease deliveries often feel like an uphill battle for F&I managers. Customers focused on cash or lease options may seem less inclined to consider additional products, but that’s where the opportunity lies. With the right approach, you can offer them valuable protection and peace of mind while boosting your F&I numbers. Let’s explore how you can transform these menu presentations into winning opportunities.
Approaching the Cash and Lease Menu
First and foremost, cash and lease customers are typically focused on simplicity. They want quick, efficient transactions without the hassle of extensive add-ons. That’s why it’s crucial to present products in a way that emphasizes convenience and value, not just cost.
• Consultative Approach: Position yourself as a trusted advisor rather than a salesperson. Cash and lease customers will appreciate an approach that feels like guidance rather than a hard sell.
• Focus on Value: Instead of emphasizing price, talk about how these products protect their investment and simplify their experience.
• Tailor the Menu: Customize your menu based on the customer’s needs. This personal touch shows that you understand their situation, which builds trust.
Introducing Key Products
Let’s look at three powerful products that resonate with cash and lease customers, making their ownership experience easier and worry-free.
1. PowerBuy™ Depreciation Program (PDP)
PowerBuy is a standout option for cash and lease customers because it protects the equity of their vehicle, ensuring they don’t suffer a financial hit in the event of a total loss. Here’s how it works based on the contract details :
• What It Covers: The program covers the difference between the customer’s vehicle’s purchase price or lease-agreed value and the amount they receive from their insurance settlement in the event of a constructive total loss. The benefit can be used as a down payment on a replacement vehicle purchased from the dealership.
• Why It’s Valuable: For cash buyers, this means protecting their upfront investment, and for lessees, it prevents potential financial headaches if the vehicle is totaled. The program offers flexibility with a maximum benefit ranging from $3,500 to $10,000, providing significant protection against depreciation losses.
• Added Convenience: The benefit is applied directly to the purchase of a replacement vehicle from the dealership, streamlining the process and ensuring a smooth transition.
2. Stand-Alone Maintenance Programs
Maintenance isn’t just for financed vehicles. Cash buyers and lessees still need to maintain their vehicles, and prepaid maintenance packages provide a convenient, cost-saving option.
• What It Offers: Prepaid maintenance services that cover regular, manufacturer-recommended maintenance, such as oil changes, tire rotations, and inspections.
• Why It Appeals: Cash and lease customers appreciate knowing they won’t have to worry about unexpected maintenance costs down the line. It adds value by providing long-term savings on routine services.
3. Lease Vehicle Service Contracts (VSC) Covering Wear and Tear
Leasing customers may assume they are fully covered, but wear and tear often lead to unexpected out-of-pocket expenses at lease end. Offering a Lease VSC that covers these items protects them from unwanted surprises.
• What It Offers: Coverage for common wear and tear items not typically covered under manufacturer warranties, such as tires, brakes, and minor dents.
• Why It Appeals: Customers can return their leased vehicle worry-free, knowing they won’t face significant charges for wear and tear, which is a huge value proposition for lessees.
Building Value: The Power of Convenience and a Worry-Free Experience
When presenting these products to cash and lease customers, the key is to emphasize the convenience and peace of mind they offer:
• Hassle-Free Ownership: Whether it’s PowerBuy protecting their equity, a maintenance package reducing the worry of upkeep, or a VSC covering wear and tear, these products make vehicle ownership or leasing simple and stress-free.
• Cost Predictability: Customers appreciate the ability to plan for costs rather than be hit with unexpected expenses. Highlight how these products eliminate financial surprises.
• Long-Term Satisfaction: Customers who feel protected are more likely to return for future purchases and refer others. A worry-free experience builds customer loyalty and strengthens your dealership’s reputation.
By shifting your approach and introducing the right products, you can turn cash and lease menus into an area of opportunity. PowerBuy Equity Protection, Stand-Alone Maintenance, and Lease VSCs are perfect solutions to meet these customers’ needs, offering convenience, protection, and peace of mind. Start presenting these products today and watch your cash and lease numbers accelerate!
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