In our training, we discuss the importance of the customer interview to confirm we have the correct information on the application and discover the customer's needs. This information is extremely important as we prepare to build a menu with the proper coverages to match the exact needs we just learned. Next, we will do a Warranty Pre-Sell before we start our menu presentation. This process is also going to be different based on if you are delivering a new or used vehicle. Start by asking if the salesperson has reviewed the manufacturer's warranty? Regardless of the customer's answer we will respond the same way. Mr/Ms. Customer my job is to summarize your coverage on your new vehicle. You will receive a 3 year or 36,000-mile Limited Manufacturer Warranty. A lot of people call this a bumper to bumper. It basically covers everything between the two bumpers except for wear and tear items & basic maintenance. In order to keep this warranty in force, you need to complete the maintenance schedule as specified by the manufacturer. You must also take the car back to a new car dealer to have the warranty work done. Lastly, it is also limited in time or miles, whichever occurs first. Does this make sense?
Next, we will draw a timeline based on the customers driving habits we discovered in the customer interview.
With the timeline, we just created we will ask our customer, based on my explanation of your manufacturer's warranty and your driving habits, where do you see yourself running out of coverage? Give the pen to your customer and have them create a mark on the timeline to visualize where their coverage will expire.
Next, you will ask your customer, why do you suppose they don’t warranty the vehicle for your full ownership?
It obviously becomes costly and we know this because of the "Frequency of Repair" study.
Now we will want to continue drawing on the chart to add a FOR diagram. It will look similar to the chart below.
The next step we will visualize their coverage with the mark they drew and drawing a line straight up. Next, draw an "X" on both sides of the line you just drew up and ask your customer If you had the option to have the coverage in the first couple of years when the car is brand new or in the later years when the car really starts to get some miles on it where would you choose?
When your customer chooses the X to the right of the line, circle that or the entire area and say, "That is what all of my customers tell me and the service plan is a way to have both." From this point, we will do a transition statement into our menu.