June 23, 2024 • 13 mins
On today's episode of 'Prepare to Win', join David Lowe as he continues through the Overcoming Objections series. "What's your best price?" is a common objection we hear everyday. Tune in as David walks through the psychology behind this objection, and even better, how to overcome this objection by redirecting to value and desire!
Connect with us at https://preparetowin.com
Call or Text David @ 765-560-7338
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
David Lowe (00:00):
What's your best price?
How many of you heard that,right, and you're probably
getting that daily or weekly,right?
All I want is your best price.
Is that really all they want?
Stay tuned.
In this episode, we're gonnaanswer that question and show
you how to proactively overcomethat fear and make a profitable
sale today.
Okay, I am David Lowe, the Aautomotive S sales C coach.
(00:31):
Welcome to Prepare to Win.
Again.
Our podcast is committed todelivering tips for you not just
to work or sell with excellence, but to live with excellence.
We think that the principlesthat drive excellence into our
life, they're really intertwined.
If we're pursuing excellence athome, we're pursuing it at work
, and vice versa, right, and sofor many weeks as we started
(00:53):
this podcast, many of ourepisodes were really focused on
character, integrity, right whatwe call the building blocks of
success, that foundation ofsuccess.
In these last few weeks, we'vebeen shifting to focus on those
hard sales situations that youface, maybe weekly, that you
want a better plan.
(01:14):
You want to know how to dobetter with those and turn more
of those hard situations intosales.
Today we're going to talk aboutthis is so common.
I've been selling cars for 38years, right?
I started when I was 20, so I'm39 years here, I guess, and
I've been hearing this for 39years.
(01:35):
I don't care what's going on.
This is something that buyerswill continue why they don't
know what else to ask.
We've almost trained them inthe car business, right?
In fact, many internet sitescould say call us for your best
price, right?
They try to grab a lead byposting a price and saying
there's a better price if youcall them right.
(01:57):
I'm not going to talk aboutwhether that's a good practice
or not that's not what this isfor but I'm going to tell you
that industry has really trainedbuyers.
Our lack of thoughtful andproactive training and process
development has created thisexpectation to price, price,
price, price, and consumersoften fall in line.
(02:20):
Buyers often fall in line, solet's talk about this.
Do they really need your bestprice?
That's the first thing thatgoes through my head.
I'm calling on the phone andall I need is your best price,
right?
I might not want.
All I need is your what yourbest price?
So I want to take you throughthe thinking real quick because,
listen, all your success isgoing to be based on that.
(02:42):
We don't train you to memorizestuff.
We want you to understand stuff.
And then we give you theprinciples and techniques you
need to handle these situationswith excellence.
Become a master salesprofessional.
You're not a warrior Warriorsare in the front line getting
taken out.
You're a master, somebody whowants to develop a skill set
(03:03):
beyond the average right.
And a master sales professionaldoesn't just want to know what
to say.
They want to know what'shappening and why it's happening
.
What do I do and why do I do it?
And that's what AutomotiveSales Coach is really committed
to do.
I know a lot of guys areselling a bag of tricks and they
(03:23):
want to tell you this is whatyou do.
If you want to close every sale, here's what you do.
It's not possible.
We're going to teach you tobuild your foundation and become
a master salesman and become astudent of sales for your whole
career Always getting better,boy.
That feels good, doesn't it?
It feels good to pursue my bestself.
(03:44):
That's what we're after.
Okay, do they need this?
I'm calling for your best part.
All right, what do we know?
Can I tell you this?
We know that over 70% of buyersfinance and when they finance,
they don't focus on the price.
They focus on what the payment.
That's right, and we know thatabout 50%, somewhere between 45
(04:08):
and 50%, year after year.
Now this goes in ebbs and flows, but if you go back and go back
three decades, you'll find 40to 50% of your buyers have
trade-ins, and so what's theirfocus going to be when it gets
down to it?
Maybe the trade-in?
So when we're talking aboutprice, price is only one part of
that whole financial package,isn't it?
And it doesn't even stop there.
(04:28):
Price is not the only thingthat you can be shopping price
on the same make and model, butcondition and history and color
and reconditioning you guys getit.
There are so many other thingsthat make the price what it is
To say this is a good price or abad price.
It's not the lowest price.
(04:50):
That is usually your best deal.
It's when you're getting themost for your money.
And can I tell you something?
Buyers don't buy and don't wantthe cheapest price.
What they want is the most fortheir money.
It's called value, but theydon't know how to ask for it.
Could you imagine a car buyercoming in?
I just want to know your bestvalue.
(05:11):
That would be great and that'swhat they're really trying to
say.
But they don't know how and wehaven't.
The market hasn't conditionedthem to do that.
All right, so what's your bestprice?
Do they really need it Now?
I want you to think about that.
Why are they calling me or whyare they here?
This goes back to start withwhat you know.
(05:33):
How many of you go online, findthe product you don't want at
the highest price and go thereor call that place?
How many people shop?
Nobody shops like that.
If somebody's calling me orcoming in or emailing me, it
means I must have something theylike and my price must not be
out of bounds or they wouldn'tbe.
(05:54):
What Calling me Now?
How many of you price your carsaggressively to drive traffic?
I would have to say probably100% of you do that.
That's how we drive.
Price might drive traffic, butit's value that closes car deals
.
So what am I trying to say?
You've already priced the carto sell.
(06:14):
This is not a price issue,right?
What they really need to knowis is this the right car for me
and are you going to take careof me?
Can I trust you?
That's what they're reallyasking, and if you hear that,
you'll be able to go ahead andact and react properly to help
(06:35):
build value in you and in yourcar and in your pricing and in
your dealership and in making it.
Putting this all together today,making a commitment today Does
that make sense?
You've got to get your mindright.
So I just want to just talkabout cars priced at 20 grand.
We've priced it aggressively.
If I want your best price, okay, I'll be right back.
(06:58):
Manager, I got somebody on thephone that wants their best
price.
Well, we've already priced thataggressively.
You give them another $150 off.
Now how is that going to sound?
Is that well, great news?
I can save you another right.
There's nothing you can do withprice that's going to make this
sound great.
You with me?
Here's what we know.
(07:18):
We price our cars aggressively,right up front, competitively
low.
That's so people come in andcall in or email.
It Isn't that true?
So when people talk about price, we want to talk about value,
the whole package, and to dothat, we have to acknowledge the
price.
Oh, I'm so glad that you askedabout price.
(07:42):
Price is so important, isn't it?
We have to use empathy to getnext to our buyer.
Before we can help them thinkdifferent about price, what do
we have to do?
We have to get alongside them Idon't want.
Hey, what's your best price?
Who cares about the best price?
If you don't like the car,right, follow me, I'll do
(08:04):
anything to sell you.
The car Price won't matter.
None of that stuff should becoming out of your mouth.
That was 30 years ago.
Listen, how many of you areusing an iPhone 3?
Was there one?
Nobody.
That's old technology.
We have to move with the market.
Let's quit using old humantechnology.
And that's what that is.
And, by the way, it was neverany good.
(08:32):
So why don't we go ahead?
Instead of running from theobjection, why don't we run
towards it?
What's your best price?
Oh my God, I'm so glad youasked me about price.
Price is so important, isn't it?
One of the reasons I loveworking here at Gotham Motors is
because not only do we havegreat cars, but we make sure we
have a great price on it.
You know what, quite frankly,we do what you do.
We use our computer to put inthe make, the model year, of
(08:54):
course, the condition, theequipment, everything, and our
computer shops, the market,every car being bought, sold,
traded for, so we can price ourcar competitively low, right up
front.
And don't worry about that,I've got you on that.
As a matter of fact, I want totake care of not just the car
and the pricing, but your wholefinancial package, right, trade
payments, everything.
I've got you, if this car isthe one you want to own, I will
(09:17):
take care of that wholefinancial package and you'll be
happy.
Come with me, right, and we goto the next logical step.
Now can I tell you something?
This is a mindset.
This best price thinking ispowerful, because what's in your
mind will be where In yourbuyer's mind, right.
If you think you have todiscount it more to sell the car
(09:40):
, I don't even know what's goingto happen.
I'm going to tell you trackthose and see how many you close
, because price cannot be theonly reason that they come in
right Now, new cars.
Maybe you have similar new car,but I'm going to tell you I'm on
new car sites all the time andthe same Ram or F-150, right or
(10:02):
whatever it is Tahoe they're notall equipped the same.
They don't all have the sametires and rims.
They don't all have thoselittle options on it, right,
colors, interior colors.
There's differences, right, andpeople are calling you after
shopping 12 to 14 websites.
That's what CarNow says and Ibelieve it.
(10:22):
Most buyers are online for 16to 20 hours or more and they're
going to 12 or 14 car websitesand when they call you or they
email you the call in they'venarrowed it down and you're a
finalist.
How are you going to stand apart?
It's not by running to yourmanager to say they need a
(10:43):
better price.
It's by connecting and leading,using the tools of the trade,
the sales process.
By the way, behind me I haveour dealership playbook.
These are just a few of thecourses on there and, of course,
our courses teach you in depthhow to handle it.
And in this Prepare to Winpodcast, we're reaching a lot of
people that we don't have, thataren't partners yet with us,
(11:06):
and these episodes are dedicatedto let you know.
Hey, listen, there's somethingyou can do at a higher level,
with character and integrity,that will help your buyer think
differently about you as a carsalesman, help you think
differently about you as a carsalesman and help you overcome
their fear of paying too muchand close more deals for more
(11:27):
money.
In a way, the buyer goes you'reawesome, thank you.
You know what Everything we doand how we do.
It is about living with ahealthy pride right.
If you're not living with joyand peace and satisfaction, then
you're doing it wrong.
Your mind is focused on thewrong things and doing the wrong
(11:48):
thing, and a lot of salestrainers they almost put you in
that position.
It's battle mano a mano andit's not really.
Your buyer wants a car.
You have a car that's pricedcompetitively low.
We want to help them feel goodabout saying yes today, and you
don't need the old tactics, theold pressure tactic, the old
(12:10):
techniques of yesterday to dothat.
You can be better and in doingso, you can have more personal
satisfaction.
Now listen, I don't know ifyou've watched any of our other
episodes or catching a portionof this on YouTube or Apple
Podcasts or wherever you'regetting it, but if you haven't,
(12:30):
go back to the beginning of ourpodcast.
Go to the first few episodesand start learning about some of
the character and integritybuilding, some of the
foundational and the principlesthat will drive excellence into
your life, into your mind, intoyour work and your personal life
, and build on that with thesetechniques and skill sets that
(12:53):
are character and integritybased.
All right, I'm David Lowe, theautomotive sales coach.
Thank you so much for joiningus.
I look forward to seeing you inour next episode.
What's your best price?
How many of you heard that,right, and you're probably
getting that daily or weekly,right?
All I want is your best price.
Is that really all they want?
Stay tuned.
In this episode, we're gonnaanswer that question and show
you how to proactively overcomethat fear and make a profitable
sale today.
Okay, I am David Lowe, the Aautomotive S sales C coach.
(00:31):
Welcome to Prepare to Win.
Again.
Our podcast is committed todelivering tips for you not just
to work or sell with excellence, but to live with excellence.
We think that the principlesthat drive excellence into our
life, they're really intertwined.
If we're pursuing excellence athome, we're pursuing it at work
, and vice versa, right, and sofor many weeks as we started
(00:53):
this podcast, many of ourepisodes were really focused on
character, integrity, right whatwe call the building blocks of
success, that foundation ofsuccess.
In these last few weeks, we'vebeen shifting to focus on those
hard sales situations that youface, maybe weekly, that you
want a better plan.
(01:14):
You want to know how to dobetter with those and turn more
of those hard situations intosales.
Today we're going to talk aboutthis is so common.
I've been selling cars for 38years, right?
I started when I was 20, so I'm39 years here, I guess, and
I've been hearing this for 39years.
(01:35):
I don't care what's going on.
This is something that buyerswill continue why they don't
know what else to ask.
We've almost trained them inthe car business, right?
In fact, many internet sitescould say call us for your best
price, right?
They try to grab a lead byposting a price and saying
there's a better price if youcall them right.
(01:57):
I'm not going to talk aboutwhether that's a good practice
or not that's not what this isfor but I'm going to tell you
that industry has really trainedbuyers.
Our lack of thoughtful andproactive training and process
development has created thisexpectation to price, price,
price, price, and consumersoften fall in line.
(02:20):
Buyers often fall in line, solet's talk about this.
Do they really need your bestprice?
That's the first thing thatgoes through my head.
I'm calling on the phone andall I need is your best price,
right?
I might not want.
All I need is your what yourbest price?
So I want to take you throughthe thinking real quick because,
listen, all your success isgoing to be based on that.
(02:42):
We don't train you to memorizestuff.
We want you to understand stuff.
And then we give you theprinciples and techniques you
need to handle these situationswith excellence.
Become a master salesprofessional.
You're not a warrior Warriorsare in the front line getting
taken out.
You're a master, somebody whowants to develop a skill set
(03:03):
beyond the average right.
And a master sales professionaldoesn't just want to know what
to say.
They want to know what'shappening and why it's happening
.
What do I do and why do I do it?
And that's what AutomotiveSales Coach is really committed
to do.
I know a lot of guys areselling a bag of tricks and they
(03:23):
want to tell you this is whatyou do.
If you want to close every sale, here's what you do.
It's not possible.
We're going to teach you tobuild your foundation and become
a master salesman and become astudent of sales for your whole
career Always getting better,boy.
That feels good, doesn't it?
It feels good to pursue my bestself.
(03:44):
That's what we're after.
Okay, do they need this?
I'm calling for your best part.
All right, what do we know?
Can I tell you this?
We know that over 70% of buyersfinance and when they finance,
they don't focus on the price.
They focus on what the payment.
That's right, and we know thatabout 50%, somewhere between 45
(04:08):
and 50%, year after year.
Now this goes in ebbs and flows, but if you go back and go back
three decades, you'll find 40to 50% of your buyers have
trade-ins, and so what's theirfocus going to be when it gets
down to it?
Maybe the trade-in?
So when we're talking aboutprice, price is only one part of
that whole financial package,isn't it?
And it doesn't even stop there.
(04:28):
Price is not the only thingthat you can be shopping price
on the same make and model, butcondition and history and color
and reconditioning you guys getit.
There are so many other thingsthat make the price what it is
To say this is a good price or abad price.
It's not the lowest price.
(04:50):
That is usually your best deal.
It's when you're getting themost for your money.
And can I tell you something?
Buyers don't buy and don't wantthe cheapest price.
What they want is the most fortheir money.
It's called value, but theydon't know how to ask for it.
Could you imagine a car buyercoming in?
I just want to know your bestvalue.
(05:11):
That would be great and that'swhat they're really trying to
say.
But they don't know how and wehaven't.
The market hasn't conditionedthem to do that.
All right, so what's your bestprice?
Do they really need it Now?
I want you to think about that.
Why are they calling me or whyare they here?
This goes back to start withwhat you know.
(05:33):
How many of you go online, findthe product you don't want at
the highest price and go thereor call that place?
How many people shop?
Nobody shops like that.
If somebody's calling me orcoming in or emailing me, it
means I must have something theylike and my price must not be
out of bounds or they wouldn'tbe.
(05:54):
What Calling me Now?
How many of you price your carsaggressively to drive traffic?
I would have to say probably100% of you do that.
That's how we drive.
Price might drive traffic, butit's value that closes car deals
.
So what am I trying to say?
You've already priced the carto sell.
(06:14):
This is not a price issue,right?
What they really need to knowis is this the right car for me
and are you going to take careof me?
Can I trust you?
That's what they're reallyasking, and if you hear that,
you'll be able to go ahead andact and react properly to help
(06:35):
build value in you and in yourcar and in your pricing and in
your dealership and in making it.
Putting this all together today,making a commitment today Does
that make sense?
You've got to get your mindright.
So I just want to just talkabout cars priced at 20 grand.
We've priced it aggressively.
If I want your best price, okay, I'll be right back.
(06:58):
Manager, I got somebody on thephone that wants their best
price.
Well, we've already priced thataggressively.
You give them another $150 off.
Now how is that going to sound?
Is that well, great news?
I can save you another right.
There's nothing you can do withprice that's going to make this
sound great.
You with me?
Here's what we know.
(07:18):
We price our cars aggressively,right up front, competitively
low.
That's so people come in andcall in or email.
It Isn't that true?
So when people talk about price, we want to talk about value,
the whole package, and to dothat, we have to acknowledge the
price.
Oh, I'm so glad that you askedabout price.
(07:42):
Price is so important, isn't it?
We have to use empathy to getnext to our buyer.
Before we can help them thinkdifferent about price, what do
we have to do?
We have to get alongside them Idon't want.
Hey, what's your best price?
Who cares about the best price?
If you don't like the car,right, follow me, I'll do
(08:04):
anything to sell you.
The car Price won't matter.
None of that stuff should becoming out of your mouth.
That was 30 years ago.
Listen, how many of you areusing an iPhone 3?
Was there one?
Nobody.
That's old technology.
We have to move with the market.
Let's quit using old humantechnology.
And that's what that is.
And, by the way, it was neverany good.
(08:32):
So why don't we go ahead?
Instead of running from theobjection, why don't we run
towards it?
What's your best price?
Oh my God, I'm so glad youasked me about price.
Price is so important, isn't it?
One of the reasons I loveworking here at Gotham Motors is
because not only do we havegreat cars, but we make sure we
have a great price on it.
You know what, quite frankly,we do what you do.
We use our computer to put inthe make, the model year, of
(08:54):
course, the condition, theequipment, everything, and our
computer shops, the market,every car being bought, sold,
traded for, so we can price ourcar competitively low, right up
front.
And don't worry about that,I've got you on that.
As a matter of fact, I want totake care of not just the car
and the pricing, but your wholefinancial package, right, trade
payments, everything.
I've got you, if this car isthe one you want to own, I will
(09:17):
take care of that wholefinancial package and you'll be
happy.
Come with me, right, and we goto the next logical step.
Now can I tell you something?
This is a mindset.
This best price thinking ispowerful, because what's in your
mind will be where In yourbuyer's mind, right.
If you think you have todiscount it more to sell the car
(09:40):
, I don't even know what's goingto happen.
I'm going to tell you trackthose and see how many you close
, because price cannot be theonly reason that they come in
right Now, new cars.
Maybe you have similar new car,but I'm going to tell you I'm on
new car sites all the time andthe same Ram or F-150, right or
(10:02):
whatever it is Tahoe they're notall equipped the same.
They don't all have the sametires and rims.
They don't all have thoselittle options on it, right,
colors, interior colors.
There's differences, right, andpeople are calling you after
shopping 12 to 14 websites.
That's what CarNow says and Ibelieve it.
(10:22):
Most buyers are online for 16to 20 hours or more and they're
going to 12 or 14 car websitesand when they call you or they
email you the call in they'venarrowed it down and you're a
finalist.
How are you going to stand apart?
It's not by running to yourmanager to say they need a
(10:43):
better price.
It's by connecting and leading,using the tools of the trade,
the sales process.
By the way, behind me I haveour dealership playbook.
These are just a few of thecourses on there and, of course,
our courses teach you in depthhow to handle it.
And in this Prepare to Winpodcast, we're reaching a lot of
people that we don't have, thataren't partners yet with us,
(11:06):
and these episodes are dedicatedto let you know.
Hey, listen, there's somethingyou can do at a higher level,
with character and integrity,that will help your buyer think
differently about you as a carsalesman, help you think
differently about you as a carsalesman and help you overcome
their fear of paying too muchand close more deals for more
(11:27):
money.
In a way, the buyer goes you'reawesome, thank you.
You know what Everything we doand how we do.
It is about living with ahealthy pride right.
If you're not living with joyand peace and satisfaction, then
you're doing it wrong.
Your mind is focused on thewrong things and doing the wrong
(11:48):
thing, and a lot of salestrainers they almost put you in
that position.
It's battle mano a mano andit's not really.
Your buyer wants a car.
You have a car that's pricedcompetitively low.
We want to help them feel goodabout saying yes today, and you
don't need the old tactics, theold pressure tactic, the old
(12:10):
techniques of yesterday to dothat.
You can be better and in doingso, you can have more personal
satisfaction.
Now listen, I don't know ifyou've watched any of our other
episodes or catching a portionof this on YouTube or Apple
Podcasts or wherever you'regetting it, but if you haven't,
(12:30):
go back to the beginning of ourpodcast.
Go to the first few episodesand start learning about some of
the character and integritybuilding, some of the
foundational and the principlesthat will drive excellence into
your life, into your mind, intoyour work and your personal life
, and build on that with thesetechniques and skill sets that
(12:53):
are character and integritybased.
All right, I'm David Lowe, theautomotive sales coach.
Thank you so much for joiningus.
I look forward to seeing you inour next episode.
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