The Power of Offering Financing Options

This is a short YouTube transcript of Chris Collins (Service Driving Revolution) discussing sales techniques for automotive/service businesses, focusing on storytelling (analogies like injectors = shower head) and routinely offering financing/payment options for quotes over a threshold (example: > $1,000). He argues most customers are payment-focused, presenting financing to everyone increases conversions (finance conversion, rolling additional work, selling warranties), and that many objections signal a credibility/authenticity issue. The clip ends with an outro and call-to-action to subscribe and a phone number for questions.
Chapters
Great.
The other one is telling a better story. Like, oftentimes we're getting objections because they can't, they don't know the story like, or analogy, right? So like just say, for example.
Injectors. Like using the analogy of, it's like a shower head. Any of you ever seen a shower head build up lime? That's the same thing with your injectors, right? Like, that's an analogy that people can get behind better than product knowledge, is the analogy, right? Or just the story. And also preempting a story. So.
Like if I was presenting, you know, depending on the brand, if I was an advisor and I was presenting anything over a thousand dollar, let's say Toyota store, if I was presenting any work over $1,000, I probably would tell the story about how a lot of our clients use our financing option, right? And I would tell that to everybody. Now that happens to me sometimes in scenarios where people will, in the sales pitch, they'll be like, and we also have a financing option. Like, and even though I'm probably going to pay for the whole thing, I don't like financing things. I don't like having credit cards or any of that.
I don't have a lot of debt. It's not, you know, it's just not my thing. I don't begrudge it. But somebody who might be afraid of, oh, I can't afford it, and might clam up and say, no, button it up, I'm going to come pick it up. When you, when you offer another option, right? Like, one of the reasons why we sold so many cars when I was a general manager was we presented three options to every customer. So you, it got off a price and it was on your, you know, here are your options.
So it was like a lease payment.
Most people are payment buyers, right. And so it's the same sort of thing as if you're offering a finance option to a, to, you know, a certain dollar amount consistently, you're preempting like a lot of those people that were coming back on payday would have taken the financing option.
It wasn't available. That's what I'm saying is it should be way easier to sell work now than it was 20 years ago. Totally, I agree with that 100%. And almost every dealership has access to that. Those financing options, there's a bunch of different ones. I mean, manufacturers have supported credit cards. You know, you got like your Sunbit and there's a bunch of stuff that people could be using as resources. But there's Way more ways to get somebody to, to feel like they can be comfortable. Comfortable in doing the work. And then you hit the nail on the head too, is that you have to present that to every customer. Because believe it or not, sometimes the people that take advantage of the financing are the ones that don't really need to. They just choose to. I'll never forget, I had this happen several times when I was selling cars. Is like, people could write a check for the car, but they're like, wait a minute, if you're going to loan me, you know, $40,000 for 36 months with no interest, why wouldn't I just take it?
Yeah. Finance conversion.
Yeah.
Practice those.
Yeah. So it's just, it makes a lot of sense to, to do it that way. And then your chances of. On this, on the, on the sales side was you would sell a warranty if you're doing 0% financing for 48 months. Always. Every single time. But, but on the service side, I just think that the fact that you can one, you'll roll more stuff, right? So if you got somebody that needs $1,500 worth of work and maybe they need a couple of preventative maintenance items, it's easier for them to do two grand over eight months as opposed to just splitting with the 1,500 and just getting what they originally like the primary concern. So I just think that you. I would get really familiar with any kind of alternative financing that you offer in your store. That is probably one of the number one things that you could do. And don't present it to people you think can't afford it. Present it to everybody.
Yeah, it's good. So the last one I. That I have is that you're probably not believable or authentic if you're getting a lot of objections. Because, I mean, if you just think about service, they need it. Like, if they need breaks and they're going somewhere else for breaks, you're not likable or believable because they, they have to have them. Like, it's not optional. A lot of the stuff that we, you know, there's preventative maintenance that's optional, but a lot of the stuff isn't optional.
It's a sooner or later type of thing. Like. And so if they're not, if you get a lot of declines, you're just not likable or authentic or believable or something. But it's. You got to change your energy and the tone and whatever you're doing because you're, you're. People don't trust you.
Yeah. It reminds me a lot of, like, imagine if you worked at a funeral parlor and couldn't sell a casket.
Yeah, There you go. I mean, that's, that's extreme, but it's very on point.
Thanks so much for watching this clip.
Of Service Driving Revolution.
We're uploading new stuff every day, so make sure you subscribe and click the bell icon so you don't miss out. If you have a question you'd like us to answer on the show, call 833-ASK SDR and we'll answer your question on the show. That's 8333-ASK SDR. For special deals on our books and training, head over to offers.chriscollinsinc.com now that's offers.chriscollinsInc.com I'm Chris Collins, and I'll see.
You in the next video.










