*STEPS 1-3 OF THE ART OF SPECIAL FINANCE *"PRIVTHE ART OF 2ND CHANCE. ALL YOU NEED TO KNOW FROM BRYAN B. BROOKS. THE #1 VOLUME SPECIAL FINANCE MANAGER IN THE USA IF YOU WANT TO WORK WITH ALLSUBPRIME, WE MUST BE ON THE SAME PAGE. THIS IS HOW I WANT YOU TO WORK YOUR CUSTOMER BEFORE YOU SEND ME THE APPLICATION. ............
A SPECIAL FINANCE DEAL IS VERY DIFFERENT THAN A REGULAR RETAIL DEAL. YOU MUST BE VERY CAREFUL WHEN DEALING WITH A 2ND CHANCE CUSTOMER CAUSE ONCE THEY KNOW THEY ARE "APPROVED", EVERYTHING CHANGES. THE GOAL IS TO DELIVER THE CUSTOMER WITHOUT ANY MISTAKES AND HAVE THE DEAL FUNDED BEFORE THEY EVER KNEW WHAT HAPPENED. IF EVERY STEP IS FOLLOWED CORRECTLY A 2ND CHANCE CUSTOMER WONT ARGUE ABOUT PRICE AND THEY WILL SEND YOU A TON OF REFERRALS.
MEET AND GREET--STEP 1 FIRST OFF YOU CANT BE LAZY. YOU DONT KNOW WHO CAN BUY, YOU DONT KNOW NOTHING. GET OFF YOUR BUTT AND HELP THE CUSTOMER. SO MANY DEALS ARE LOST CAUSE PEOPLE KNOW TO MUCH. DONT BE SCARED TO SHAKE THERE HANDS AND SAY, 'HOW YA DOIN, MY NAME IS BRYAN BROOKS, HAVE YOU ALREADY SPOKEN WITH SOMEONE HERE".(DONT SKATE YOUR CO-WORKERS, YOU WILL NEED THEM TO TAKE ALL THE MESSAGES YOU GET FROM ALL YOUR MANY CUSTOMERS) NO, I HAVENT TALKED TO ANYONE HERE. "GREAT, HOW DID YOU HEAR ABOUT US"? (THIS QUESTION IS SO CRITICAL, THIS LETS YOU KNOW EVERYTHING YOU NEED TO KNOW. DEPENDING ON THEIR RESPONSE YOU WILL KNOW WHAT YOU GOT. BUT NO MATTER WHAT MAKE SURE YOU ASK THE NEXT QUESTION WORD FOR WORD) "DO YOU NEED HELP WITH FINANCING OR IS IT ALREADY SET UP"? SHUT THE HELL UP AND LET THEM SPEAK, WHEN THEY SO "NO, I DONT HAVE MY FINANCING SET UP" YOU SAY--"GREAT FOLLOW ME". TURN AROUND AND START WALKING. FROM THE TIME YOU MEET A CUSTOMER TILL THE TIME YOU ARE TAKING AN APPLICATION SHOULD BE LESS THAN 2 MINUTES. ANYTHING LONGER YOU ALREADY MISSED A STEP. IF STEP 1 DOESNT WORK SAY, "IF YOU CAN GIVE ME A FEW MINUTES OF YOUR TIME, I CAN LET YOU KNOW EXACTY WHICH CARS I WORK FOR YOU, WITH THE PAYMENT YOU WANT"?. "GOT A FEW MINUTES"?, TURN AROUND AND START WALKING. WORSE CASE, GET THEM TO TEST DRIVE A CAR. ITS DOESNT MATTER IF ITS THE HUMMER OR THE CAVALIER, GET THEM BEHIND THE WHEEL OF SOMETHING. REMEMBER, YOU WOULDNT HAVE TO DO THIS IF YOU WOULD DONE STEP ONE CORRECTLY. (DO YOU NEED HELP WITH FINANCING OR DO YOU ALREADY HAVE IT SET UP?) THOSE 14 WORDS ARE THE DIFFERENCE BETWEEN 60K PER YEAR AND 100K PER YEAR. AFTER YOU GET BACK FROM THE TEST DRIVE GO BACK TO STEP 1.
CREDIT BUREAU--STEP 2 YOU MUST GO OVER THE CREDIT BUREAU WITH EVERY CUSTOMER. IF YOU DONT YOU WILL LOOSE DEALS AND LOOSE GROSS. THIS IS HOW I GO OVER A CREDIT BUREAU. "THE HIGHEST SCORE I HAVE EVER SEEN IS A 838, THE LOWEST SCORE IVE EVER SEEN IS A 316. YOUR CREDIT SCORE IS A ________" I CIRCLE THERE CREDIT SCORE. I THEN GO DOWN THE BUREAU ONLY MENTIONING THE NEGATIVE STUFF. "DECEMBER OF LAST YEAR KCPL PUT A COLLECTION AGAINST YOU FOR $280 WHAT HAPPENED?" SHUT UP AND LET THEM SPEAK. MOST PEOPLE THINK SALESMAN ARE TALKERS BUT THE BEST SALESMEN ARE GREAT LISTENERS. AFTER THEY LIE TO YOU (IF THERE LIPS WERE MOVING THEY ARE LYING) SAY, "NONE OF THIS STUFF MATTERS, I CAN STILL HELP YOU OUT, IM JUST SHOWING YOU THIS BECAUSE ANYTIME YOU GO SOMEWHERE AND APPLY FOR CREDIT THIS IS WHAT THEY SEE AND BASE THEIR DECISION ON." GO DOWN THE BUREAU AND DONT STOP. WHEN YOU ARE FINISHED SAY "YOU COULD GO BACK AND PAY ALL THIS STUFF OFF, BUT THAT WOULDNT HELP YOU BUILD ANY CREDIT. THE WAY YOU ESTABLISH CREDIT IS BY GOING OUT AND GETTING NEW CREDIT. FOR INSTANCE GETTING THIS CAR AND TAKING CARE OF BUSINESS FROM HERE ON OUT" I GO BACK TO THE KCPL COLLECTION AND SAY "EVEN IF YOU PAY THIS OFF, IT WILL STILL BE ON YOUR CREDIT REPORT, IT WOULD JUST SHOW PAID. A PAID COLLECTION IS STILL A COLLECTION SO WHY PAY IT BACK?" AT THE BOTTOM OF THE BUREAU I WRITE MY DEALERSHIP NAME AND THE ESTIMATED PRICE OF THE CAR EXAMPLE ONEILL HONDA $10,000 I TELL THE CUSTOMER" IF YOU MAKE 12 PAYMENTS ON A VEHICLE AND COME BACK TO ME, I WILL TRADE YOU OUT OF THE CAR, YOU COULD TRADE THE CAR IN SOONER BUT UNLESS YOU MAKE AT LEAST 12 PAYMENTS IS WONT COUNT. WHEN YOU COME BACK IN 1 YEAR AND TRADE THE CAR IN, I WILL PAY IT OFF. NEXT TIME AND YOU CAN STILL HAVE THE SAME CHEAP PAYMENT BUT YOU CAN SPEND MORE MONEY CAUSE YOUR RATE WILL GO DOWN. PAYING OFF SOMETHING IS HOW YOU BUILD CREDIT NOT PAYING BACK THAT OLD $280 KCPL COLLECTION FROM 3 YEARS AGO" EXAMPLE ONEILL HONDA $10,000 IIIIIIIIIIII--12 PAYMENTS ONEILL HONDA $13,000 IIIIIIIIIIII--DO THE SAME THING MORTGAGE $80,000 IIIIIIIIIII---ONCE CREDIT IS ESTABLISHED (1 YEAR) I PROMISE YOU THEY WILL SAY "NAW, IM COMING BACK TO YOU"
THIS IS ALL DONE BEFORE WE HAVE EVEN PICKED OUT A CAR. THIS IS DONE EVEN BEFORE THE SALES MANAGER HAS SEEN THE DEAL. THIS IS STEP 2. IF YOU GO FROM STEP 1 TO STEP 3 AND MISS STEP 2, YOU WILL ONLY MAKE $75,000 A YEAR. WHY IS STEP 2 SO IMPORTANT. YOU BUILD RAPPORT, YOU BUILD VALUE, YOU HAVE CONTROL. DO NOT RUSH OR TRY TO BYPASS STEP 2. STEP 2 IS WHY YOU ARE A SPECIAL FINANCE MANAGER NOT A REGULAR F&I MANAGER OR SALESMAN. A REGULAR F&I MANAGER OR SALESMAN WOULDNT HAVE THE TIME. UNDERSTAND HOW TO READ A CREDIT BUREAU, IT IS CRITICAL TO YOUR LONG TERM SUCCESS IN 2ND CHANCE. YOU WOULDNT EVEN BELIEVE HOW MANY CO-SIGNERS YOU CUSTOMER WILL COME UP WITH IF YOU DO STEP 2 CORRECTLY. THERE IS NOTHING LIKE TURNING A 390 CREDIT BUREAU INTO A CAR DEAL. IT IS VERY TOUGH TO LOOSE A DEAL IF STEP 2 IS DONE CORRECTLY. ALMOST EVERYONE YOU TALK TO CAN BUY. OR A LEAST WILL FIND SOMEONE THAT LOVES THEM TO CO-SIGN OR BUY THE CAR FOR THEM. IF YOU DO STEP 2 AND YOUR CUSTOMER WITH A 450 CREDIT SCORE STILL WANTS THE HUMMER. CALL SECURITY AND THROW THEM OUT THE DOOR. DEMO--STEP 3 IF YOU DID STEP 1 AND STEP 2 CORRECTLY, STEP 3 WILL BE EASY. BY NOW YOU SHOULD HAVE AN IDEA OF THE PAYMENT RANGE YOUR CUSTOMER WANTS TO BE IN. AND YOU SHOULD KNOW WHAT THEY CAN BUY. DONT SHOW A CUSTOMER A CAR THEY CANT BUY. THAT IS WHAT STEP 1 AND STEP 2 ARE FOR. LETS SAY FOR INSTANCE YOUR CUSTOMER WANT TO BE IN THE $250-300 RANGE. YOU WILL FIND OVER TIME THIS IS THE MOST COMMON RANGE. START OFF BY SHOWING CUSTOMERS CARS IN THE $150-200 RANGE AND MOVE YOUR WAY UP TO THE $250-300 RANGE THE REASON I SAY RANGE IS BECAUSE YOU DONT KNOW THE EXACT PAYMENT. YOU DONT WANT THE FINANCE MANAGER TO CUT YOUR FRONT END GROSS TO PUT IN GAP INSURANCE CAUSE YOU SHOWED A CUSTOMER A $400 PAYMENT CAR, WHEN THEY WANTED TO BE AROUND $250. IF THIS HAPPENS, YOU'D BETTER HAD DONE A DAMN GOOD JOB ON STEP 2 OR ELSE. ONCE YOUVE GOT THEM LANDED ON THE PERFECT VEHICLE, THE ONE THAT MAKES YOU THE MOST MONEY AND ITS IN THERE PAYMENT RANGE. YOU MUST MAKE THEM FALL IN LOVE WITH THAT CAR. POP THE HOOD FIRST, EVEN IF YOU DONT KNOW ANYTHING ABOUT THE ENGINE, SHOW THEM WERE TO PUT OIL IN AND WHERE TO CHANGE THE WINDSHIELD WIPER FLUID. START THE CAR AND POP THE TRUNK. IF THEY HAVE 4 KIDS AND YOUR TRYING TO SHOW THEM A ESCORT YOU ARE FIGHTING AN UP HILL BATTLE(unless you did step 2). IF YOU SHOW THEM SOMETHING THAT WILL BENEFIT THERE FAMILY AND WILL HELP THEM RE-ESTABLISH THERE CREDIT. YOU WILL HAVE A LOT BETTER CHANCE OF CLOSING THE DEAL. DURING THE TEST DRIVE DONT TALK. IF THEY ASK YOU A QUESTION ANSWER IT AND SHUT UP. LET THEM GET A FILL FOR FOR CAR. LET THEM PICTURE IT IN THEIR DRIVE WAY. YOUR TALKING COULD INTERUPT THEIR DAY DREAMING. WHEN YOU PULL BACK INTO THE LOT, LET THEM CHOOSE WHERE THEY WANT TO PARK THE CAR. IF THEY PARK THE CAR NEAR THE OFFICE, TRY NOT TO SMILE. IF THEY ASK YOU WHERE TO PARK THE CAR, TELL THEM TO PULL THE CAR UP FRONT NEAR THE OFFICE. IF THEY PARK THE CAR BACK IN THE SAME PARKING SPACE. YOU'D BETTER HAVE YOUR SALES SHOES ON. SOMETIMES THE CUSTOMERS REACTION WILL TELL YOU A LOT WHEN YOU PULL BACK IN THE LOT. ITS NOW TIME TO CLOSE THE DEAL. MAKE SURE YOU ARE ON THE RIGHT CAR. MAKE SURE THE VIN # IS CORRECT ON ALL PAPERWORK. YOU ONLY GET ONE CHANCE TO GET EVERYTHING RIGHT. YOU DONT WANT TO HAVE TO GET A CUSTOMER BACK IN CAUSE YOU WROTE DOWN THE WRONG VIN # OR WRONG MILEAGE DOWN. PAYMENTS-- TIME TO PLAY WITH THE NUMBERS. YOUR HOUSE PAYMENT, VACATION, AND EXTRA MONEY ARE ALL UP TO BAT. THE LESS YOU KNOW THE BETTER. (but you already told them what cars they could buy so you really know everything.) IF THE CAR IS IN THE RANGE YOU HAVE NOTHING TO SWEAT. IF YOU DID STEP 1-3 PERFECTLY THE PAYMENTS REALLY SHOULDNT MATTER. TRY TO AVOID ONE ON ONE CONVERSATIONS WITH THE CUSTOMER THAT COULD LEAD TO A DISCUSSION ABOUT PAYMENTS. YOU ARE AT THE DEALERSHIP TO MAKE MONEY. LET THE MANAGERS DO THERE JOB, YOUR JOB IS DONE. GO FIND ANOTHER CUSTOMER OR SOMETHING. LEAVE THE PAYMENTS TO THE FINANCE MANAGERS. I PROMISE YOU, IF YOU STAY OUT OF THE EQUATION YOU WILL MAKE HIGHER GROSSES THEN IF YOU WANT TO KNOW IT ALL. SOMETIMES YOU DONT HAVE A CHOICE. THE CUSTOMERS WANTS TO KNOW THE PAYMENT BEFORE THEY PROCEED. WHICH MEANS YOU DIDNT DO STEP 1-3 CORRECTLY. IN THIS CASE, ESTIMATE. YOU ARE JUST A SALESMAN, YOU CAN BE WRONG. YOUR NOT SUPPOSED TO GIVE OUT PAYMENTS ANYWAY SO YOU CAN BE OFF. ALWAYS TELL THE CUSTOMER THE PAYMENT IS $25-35 CHEAPER THAN WHAT IT REALLY IS. THE FINANCE MANAGER GETS PAID TO BUMP THE CUSTOMER. NOT YOU. YOU ARE THERE TO SELL CARS NOT SELL PAYMENTS.
GETTING DEALS FUNDED-- THIS IS WHAT SEPERATES THE MEN FROM THE BOYS. IF YOU SIGN UP A DEAL ON MONDAY IT SHOULD BE FUNDED BY TUESDAY. GET THE DEAL TO THE BANK ASAP. SO MANY PROBLEMS COULD BE AVOIDED IF YOU ARE ALREADY FUNDED. CONTROL IS EVERYTHING. IF THE CUSTOMER WANTS TO BACK OUT AND YOU ARE ALREADY FUNDED. THEIR OUT. IF A CUSTOMER BOUGHT A CAR WITHOUT A WARRANTY AND SOMETHING WENT WRONG. IF YOU ARE ALREADY FUNDED YOU CAN SAY WHATEVER YOU WANT. IF YOU ARE NOT FUNDED YOU WILL BE KISSING THAT CUSTOMERS BUTT UNTIL THEY DO THE CUSTOMER INTERVIEW. NEVER/EVER DO BCA'S. WHY DO A BCA. IF YOU DID ALL THE STEPS CORRECTLY YOUR CUSTOMERS WILL BE AS PATIENT AS YOU WANT THEM TO BE. ANY SPECIAL FINANCE MANAGER WHO KNOWS THE BUSINESS CAN SPOT DELIVER A DEAL WITH TONS OF ROOM AND MAKE THE DEAL STICK.
STIPS-- MOST DEALERS DONT UNDERSTAND THIS PART. THIS IS WHY DEALERSHIPS DONT HAVE OR CANT HANDLE A 2ND CHANCE DEPARTMENT. YOU HAVE TO KISS THE CUSTOMERS BUTT TO GET THEM TO BUY A CAR. THEY WANTED A PAYMENT OF $250 AND AFTER WE MADE AS MUCH AS WE COULD THE PAYMENT IS $389 OR $450. IT WAS TOUGH ENOUGH TO GET THE CUSTOMER TO STEP UP. IF THIS IS A FRESH UP OR REFERRAL YOU MUST GET THE STIPS BEFORE THEY SIGN. SOMETIMES YOU JUST WANT THEM TO SIGN AND YOU WILL GET IT LATER BUT NO, GET THE STIPS NOW. YOU NEED,( I hope you are writing this down) A PAYSTUB, A DRIVERS LICENSE, A CELL PHONE OR HOME PHONE BILL. IF THE PHONE BILL IS NOT IN THE CUSTOMERS NAME, GET THE PHONE BILL ANYWAY AND ALSO GET A PIECE OF MAIL IN THE CUSTOMERS NAME. IF YOU GET ALL THE STIPS UPFRONT YOU CAN OVERCOME PROBLEMS IN ADVANCE. I COULD GO INTO THE PROBLEMS THAT WILL ARISE IF YOU DONT GET THE STIPS UP FRONT BUT SOME LESSONS HAVE TO BE LEARNED ON THERE ON. THEY SAY A HARD HEAD MAKES A SOFT ASS, WELL THIS IS WHAT THEY MEAN. MAKE SURE EVERYBODY KNOWS EVERYTHING. YOU DO NOT WANT PROBLEMS IN FUNDING. IF YOU HAVENT ALREADY HAD A CHARGE BACK, THIS IS THE EASIEST WAY TO HAVE ONE. A CHARGE BACK IS WHEN A CUSTOMER BUYS A CAR AND HAS TO RETURN IT CAUSE THEY FORGOT TO TELL YOU THEY QUIT THEIR JOB 3 MONTHS AGO. OR THE FAMOUS, "I LEFT MY DRIVERS LICENSE AT HOME". WE CANT FORGET THE CLASSIC, "I THROW ALL MY PAYSTUBS AWAY. I KNOW ITS TOUGH ENOUGH JUST TO GET THE CUSTOMER APPROVED, BEG THE SALES MANAGER TO LET YOU SELL THE CAR, AND BEG THE CUSTOMER TO BUY THE CAR BUT YOU GOT TO GET YOUR STIPS......BEFORE YOU SIGN PAPERS ALSO, DONT HOLD DEALS IN HOUSE. THIS WILL COST YOU MORE THAN YOU THINK. IF ANYTHING THIS REALLY HELPS YOUR FLOORPLAN AND INVENTORY. THE DEALER WHO CAN SPEND THE MOST MONEY EVERY WEEK AT THE AUCTION WILL BUY THE CHEAPEST CARS AND MAKE THE MOST GROSS. IN THE CAR BUSINESS YOU DONT MAKE MONEY WHEN YOU SELL A CAR, YOU MAKE MONEY WHEN YOU BUY IT.
FOLLOW UP-- THIS IS HOW I BECAME KING. I SENT MAIL TO MY CUSTOMERS SO OFTEN, AFTER A WHILE IF I MISSED A MONTH CUSTOMERS WOULD CALL ME AND ASK WHY HAVENT I SENT THEM A LETTER. I NEVER PUT A RETURN ADDRESS ON THE MAIL. I SENT EVERYTHING, POSTCARDS, CD'S, NEWSLETTERS, ANYTHING I COULD PUT A STAMP ON. I NEVER SENT THE SAME THING TWICE. WHILE EVERY SALESMAN IN THE DEALERSHIP WAS CRYING ABOUT HOW SLOW IT WAS I JUST PUT 1500 LETTERS IN THE MAIL. FOR THE NEXT 2 WEEKS I COULDNT TAKE A NEW CUSTOMER FROM THE LOT. I WAS TO BUSY WITH REPEAT CUSTOMERS AND REFERRALS. REFERRALS ARE THE BEST. THEY DONT FIGHT OR ARGUE. THEY JUST WANT A GOOD DEAL AND THEY WILL SIGN. THIS STEP IS VERY IMPORTANT TO HAVING A CAREER IN THE CAR BUSINESS VERSES A JOB IN THE CAR BUSINESS. CUSTOMERS BUY CARS FROM SALESMAN NOT THE DEALERSHIP. THEY WILL FOLLOW THERE SALESMAN ANYWHERE IF YOU STAY IN TOUCH WITH THEM AND LET THEM KNOW WHERE YOU ARE. MY FIRST 2 YEARS IN 2ND CHANCE I MADE 60K BOTH YEARS. WITH REPEAT AND REFERRAL, STEPS 1-3, MY INCOME ALMOST DOUBLED TO 109K MY 3RD YEAR. I COULD GO ON AND ON ABOUT HOW IMPORTANT IT IS BUT THE TRUTH IS ITS THE DIFFERENCE BETWEEN MAKING 60K PER YEAR AND 150K PER YEAR. THE CAR BUSINESS IS THE HARDEST WAY TO MAKE A LOT OF MONEY OR THE EASIEST WAY TO MAKE NONE. ITS SO EASY NOT TO MAKE MONEY SELLING CARS, BUT IF YOU WORK HARD AFTER 3-4 YEARS YOU ARE SET FOR LIFE. IF YOU FOLLOW UP WITH YOUR CUSTOMERS AND TREAT THEM LIKE GOLD. (NO ONE TREATS A 2ND CHANCE CUSTOMER LIKE GOLD). YOU WILL BE THE MAN AND EXPECT MAJOR RESULTS.
*LET US SET-UP YOUR CUSTOMER DATABASE *MONTHLY LETTERS, POSTCARDS, NEWS TO YOUR CUSTOMERS *BIRTHDAY CARDS SENT TO EVERY CUSTOMER *BULK MAIL ANYTIME *FIND PAST CUSTOMERS INFORMATION *BUILD A HUGE REFERRAL BUSINESS *LETS ALLSUBPRIME INCREASE YOUR SALES BY 30%-50% IN THE 1ST MONTH *WE DO ALL THE MAILING FOR YOU *#1 WAY TO BUILD A BUSINESS *BACK-UP EVERY CUSTOMER TO YOUR EMAIL ADDRESS *SAVE $$$$$--NO NEED TO HIRE SOMEONE *VERY LOW MONTHLY FEE *NO CONTRACT *CANCEL ANYTIME
ALL SUB-PRIME PO BOX 783 RAYMORE, MO 64083 816-935-1368 INFO@allsubprime.com ALLSUBPRIME.COM is an subsidiary of Brooks Brothers A.G. |
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