When All Else Fails, Waive The Flag
In the past several weeks, we worked on conquering objections. But sometimes you just can’t get through to a stubborn customer. That’s when it’s time for a last-ditch effort: a sales waiver.
The final step in a service contract presentation can sometimes be the one most easily forgotten. A well-executed sales waiver gives you one last chance to sell the customer on the value of protection from out-of-pocket repair costs. It’s a do or die moment when a customer puts pen to paper to say they are going to be liable for any future repair costs.
The pressure is on. Most of your F&I presentation is likely a low-pressure environment to make the customer feel comfortable. However, when a customer has declined coverage time and time again, it’s time to make them understand the consequences of their decision. Having a customer sign a sales waiver makes the decision a reality – by signing his or her name, your customer fully agrees and acknowledges that they are going to take the risk of driving without protection from repair costs.
Another chance to sell the value. A proper sales waiver will include some of the value points you’ve hit on earlier in your presentation. If your sales waiver calls out common costs of repairs and added benefits like roadside assistance, towing and trip interruption coverage, your customer gets to see all that they might miss out on one last time during your presentation.
Protect your reputation. If all else fails and your customer is still willing to sign his or her name on the dotted line that finally makes them liable for any repair costs, it ultimately helps protect your dealership too. A sales waiver is the ultimate moment of transparency. If you’ve described to your customer how used cars are more likely to have mechanical issues during the term of ownership, a sales waiver ensures that you and your customer are on the same page about the potential risk that lies ahead. This transparency helps a customer be more understanding if an unexpected repair occurs – and you never know; next time they are in the market for a vehicle, it may make the service contract sale that much easier!