With new car buying apps, websites and services cropping up every day, your used car dealership may be looking for ways to evolve in order to thrive.
You may have already noticed that customers arrive at your lot equipped with an incredible wealth of knowledge. Perhaps they’ve done research on the car they’re interested in buying and know what price they want to pay (based on other buyers). They know where their credit stands, good or bad. They’ve even researched financing options and shopped around for the best insurance rates.
This adds an extra layer of complexity for your F&I department. No longer are customers, particularly millennials, coming to you for all the answers. The knowledge pendulum has swung the customer’s way.
So, what’s F&I supposed to do? The key is creating value. If there’s value, customers will buy.
Since launching Kahu, our theft recovery app, our dealers and their F&I departments have taken the ball and run with it. They’ve turned the necessity of using our GoldStar GPS product to protect their vehicle inventory into a new profit center opportunity – simply by creating value for their customers.
Now, here are a few tips to help you create value and close the deal with your F&I customers:
- Keep it simple
While the Kahu app is powered by Spireon’s award-winning NSpire platform and uses the latest GPS and Big Data technology, it’s easy to lose a customer in the technical jargon. Here’s what they need to know: Kahu provides real-time theft protection. If the vehicle is ever stolen, the average recovery time is just 26 minutes.
- Keep it focused
Car insurance is a given. Take the same approach when talking about the Kahu app. According to a report from the National Highway Traffic and Safety Administration (NHTSA), 689,527 vehicles were stolen in 2014 and 45% were never recovered. Going without Kahu is like going without insurance – it sets your customer up for a potentially devastating financial loss. Why would they go without it?
- Keep it quick
Once you grab a customer’s interest with theft protection, it’s time to close the deal with Kahu’s many advantages beyond theft protection. For best results, keep it quick, 7 minutes at the absolute max. Valuable benefits to touch on include:
- Savings of up to 25% on their insurance premiums by having a theft protection device.
- Custom smart alerts – great for teen or elderly drivers – for speeding or unapproved use.
- Peace of mind 24/7 with on-demand, one click locates using any smartphone or browser.
Once you become a Kahu dealer, we’ll also send you a variety of materials to help your F&I team talk customers through the advantages of purchasing Kahu. So, even if a customer walks in thinking they have all the answers, you’ll have the ability to provide value in ways they may not think possible when buying a used car. Most importantly, you’ll be well on your way to creating a healthy new profit center.
Want to learn more about giving your F&I department a competitive advantage? Look here for more information about Kahu or get in touch with us for your free demo.