Chris Collins walks through how dealerships push customers away: demanding wire transfers over checks, pressuring unnecessary add-ons in finance, requiring insurance before the law requires it, and missing pickup appointments. These friction points are why buyers go to independent dealers instead.
It is just incredible how dealerships are ran and how if people don't have to have a car, it wouldn't work. Yeah, you have to, you have to do all the work as a consumer to like I, the like, let me give you an example. So I, I find a vehicle, they don't want me to write a check, they want me to wire the money.
So I'm, you know, okay, so I'm gonna, we're gonna wire the money on Monday when the office opens. Right. So the guy tells me in finance, I mean it's just so crazy, you know. You know what we used to do every.
End of year with our finance department? Like a thing that we did, it was like an event like they, that we had. Like, just like we have our top dog event or whatever. We used to do cash conversions with the finance department. Our games were about cash conversions. We role played cash conversions, we talked about cash, we tracked cash conversions. So if the desk had somebody that was a cash deal go into finance and they converted it, we like it, you know, they won something in the, you know, in the game, the whole thing. Because at the end of the year, especially if you're running a BMW store, the X5s, just like the Land Rovers are over £6,000, you can write them off 100%. So like for us as a business, it's better for me to buy the Land Rover and write it off and save on the taxes at the end of the year than it is to lease it because it goes against our taxes. So people come in at the end of the year and they're like, I want an X5, I'll write a check. And then we would do, we had these things that were balloons for businesses that, you know, BMW financial services offered. That was the same thing for them tax wise. But we, it was like, what do you call that? An open ended, close ended lease where they had to buy it at the end. Yep. Instead of the factory buy it. But they could save their cash. So you get a guy who's a lawyer or a doctor, owns a business and you're like, listen, keep your cash. You can still depreciate and get your deduction. But these, these close ended or open ended, I forget which one it is. I think open ends one where you, it's, there's a variable closed end means that here's what happens when it's done and it's over. Okay. So the open end means they can finance it or buy it. Yes. But they have a balloon at the end.
And we Would convert, you know, quite a few people that were planning on writing a check to that in finance. That isn't what happens in finance when I just recently. What happens in finance is the guy is trying to sell me a bunch of stuff I don't need, right? On a menu of it. But I'm. But I'm. If, you know, if you're in that situation instead of trying to sell me things I don't need. And the guy even made some comments about, I'm not making any money. And, you know, it's like, it's interesting. Like, it's also interesting that people don't look me up. Like, people at that dealership knew who I was. But it's interesting to me that they say the things they say like it's nuts. But why wouldn't you try to do a cash conversion in that situation? So, anyways, I got to wire the money on Monday, right? So I've signed all the paperwork, but I. He won't give me the paperwork. But then he says this thing, he goes, you can't take the vehicle until you show me proof of insurance. And I said, I sent you my insurance. And he says, no, the. The VIN has to be on the insurance. And I said, that's not true. 30 days. I have 30 days. Second of all, because we were buying it under the business. I have more insurance under the business than I do on. On the car insurance. And so. But I don't know, because he said that, and I. My. Am I. What is that thing on your sweater? A sloth. A sloth. I'm like, well, I got it. You know, I got it. Whatever. So the insurance guy is waiting for them to send the paperwork. So we wire the money Monday, it clears Monday. I want to pick it up on Wednesday. So on Tuesday, I'm like, can I get the paperwork? Can somebody just email me whatever the car, the. The. They need the vin, the, you know, what's on there, accessories, whatever the models, all that stuff, they need that to add it to the insurance. Can I get that? And I guess because it's a cash deal, nobody in finance would. Would even. Nothing. So I tell the sales. I text the salesperson, I'm like, hey, I got to come pick this thing up. And, like, you know, if they can't give me the stuff, somebody better not tell me that I can't take it. Like, right. Like, whatever. So then I get there. I mean, and that's a whole nother thing. But no, you know, I have an appointment to pick it up. And the salesperson isn't even there. Yeah, I call them on their phone and they're, they're somewhere else and then they say, have a seat. Somebody will help you. There's nobody there to help me. So the one guy knew who was the, like, manager. I'm like, hey, can I just get the keys in the books? I'll figure it out on my own. Like, see, like, I don't want to sit here for four hours. Like, I don't understand at an appointment.
Like, yeah, it really does make me want. It's so frustrating that that's, that's the customer. Like, when we think, like, why DO dealerships lose 80% of their customers to independence? I, I, you know, we don't want to talk about it. That's the problem. 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 8333 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 Chris Collins Inc.com. now that's offers.chriscollinsinc.com I'm Chris Collins, and I'll see you in the next video.
