BMW COMMON OBJECTIONS Flashcards
The most common customer objections and strategies to overcome them.
“This is too expensive…Why do BMW’s cost so much?”
Strategy: Value Based Closing
Word Track: “BMW offers more than just a car—it’s an embodiment of quality, precision, and luxury. With its cutting edge technology, superior engineering, and longterm value, it’s an investment in a refined lifestyle. Let’s explore financing options that make it fit comfortably within your budget.”
Insights:
According to Consumer Reports: BMW is the top overall auto brand for the second year in a row.
Grant Cardone: Treat every buyer as if they can afford the luxury, reinforcing the value of their investment.
Joe Verde: Emphasize the longterm value and the unique BMW experience that justifies the premium price.
Andy Elliott: Build trust and confidence in the value, ensuring the customer feels assured in their decision
CX Evolution: Highlight BMW’s commitment to delivering an unparalleled driving experience and longterm value, making the price a reflection of this superior quality.
“Is that your best price?”
Strategy: Competitive Pricing Assurance
Word Track: “Yes, and we confidently stand by it because we use advanced market analysis tools daily to ensure our BMWs are competitively priced. We compare our vehicles based on equipment, condition, and market trends to offer you the best possible value. Does this meet your expectations? Would you like to visit today to see it?”
Insights:
Grant Cardone: Present your proposal with confidence and clarity, ensuring the customer feels reassured about the value.
Joe Verde: Highlight the thorough market analysis behind the pricing to build trust through transparency.
Andy Elliott: Use transparency and confidence to ensure the customer understands the pricing strategy.
CX Evolution: Reinforce BMW’s commitment to providing fair and competitive pricing that reflects the vehicle’s true value in the market.
“My trade in isn’t valued high enough. Why is it so low?.”
Strategy: Reality Based Closing
Word Track: “I understand your concern. Let’s review how we determined this value. Considering the overall package, including the superior tradein offers and BMW’s exceptional resale value, this deal provides significant longterm benefits. Does that sound fair?”
Insights:
Grant Cardone: Agree with the customer’s concerns first, then provide a clear path forward, ensuring they feel heard and respected.
Joe Verde: Be transparent about the tradein process, ensuring the customer understands the valuation logic.
Andy Elliott: Address the objection confidently, showing how the tradein fits into the overall value proposition.
CX Evolution: Ensure the customer understands how the tradein value is determined based on fair market assessment, enhancing trust in the transaction.
“How much are the payments?”
Strategy: Payment Flexibility Close
Word Track: “That’s a key question. We work with toptier lenders, including BMW Financial Services, local, and national banks, to offer you the best possible terms. May I send you a link to our online credit application to get preapproved and provide you with an accurate estimate?”
Insights:
Grant Cardone: Address financing questions by offering multiple options and reassurance that a solution will be found.
Joe Verde: Break down the cost into manageable payments, tailoring the financing to the customer’s needs.
Andy Elliott: Be proactive in addressing financial concerns, ensuring the customer feels supported and understood throughout the process.
CX Evolution: Offer flexible payment plans through BMW Financial Services, aligning the payment structure with the customer’s financial comfort.
“I live too far away to come in. What can you offer?”
Strategy: Remote Engagement Close
Word Track: “Really? Where do you live? We’re familiar with your area. We sell a lot of vehicles to customers there due to our pricing and service. I’ll ensure we have the vehicle and get with my manager to provide you a price before you come in, so you feel confident we can meet your expectations. Does that sound good?”
Insights:
Grant Cardone: Treat every customer seriously, no matter their distance, and find ways to make the process easy for them.
Joe Verde: Offer to handle most of the process online or over the phone, emphasizing convenience.
Andy Elliott: Build rapport by showing familiarity with the customer’s area and ensuring they feel valued even from a distance.
CX Evolution: Leverage BMW’s advanced digital tools to streamline the buying process, offering seamless remote consultations and virtual tours.
“I need to think about it. Can you print out your offer?”
Strategy: Assumptive Close
Word Track: “That’s perfectly fine. Why don’t we reserve this BMW for you, so you have time to think without any pressure? We can adjust details later.”
Insights:
Grant Cardone: Persistence is key—don’t hesitate to ask for the close multiple times and create a sense of urgency.
Joe Verde: Assume the sale and keep the process moving forward, reducing the chances of losing the customer.
Andy Elliott: Overcome hesitation by building rapport and ensuring the customer feels understood and valued.
CX Evolution: Emphasize the uniqueness of the BMW model in question, making it clear that reserving it is a smart move given its demand.
“I am just looking.”
Strategy: Trial Close
Word Track: “That’s great! Let’s take a BMW for a spin. You’ll see firsthand why driving one is so rewarding. If it feels right, we can discuss next steps.”
Insights:
Grant Cardone: Use trial closes frequently to gauge interest and keep the customer engaged throughout the process.
Joe Verde: Engage customers with small commitments like a test drive to naturally progress toward a sale.
Andy Elliott: Start the close by building excitement and ensuring the customer feels connected to the product, making it easier to transition to the final close.
CX Evolution: Leverage the driving experience as a key differentiator, emphasizing the joy and performance of BMW vehicles.
“I’ve got a better price elsewhere. Can you beat it?”
MarketBased Pricing Close
Word Track: “Oh no, I hate to hear that. We study the market daily to ensure our BMWs are priced competitively. Our software compares our vehicles with similar ones based on price, equipment, condition, mileage, and color, ensuring our customers get the best value. Are we close to what you were hoping to pay, and would you prefer to buy from us?”
Insights:
Grant Cardone: Present the value proposition clearly and confidently, emphasizing the unique aspects of your offer.
Joe Verde: Explain the thorough market analysis behind your pricing, reinforcing the value of choosing your dealership.
Andy Elliott: Overcome price objections by focusing on the comprehensive value the customer receives, not just the price.
CX Evolution: Emphasize BMW’s market positioning and the added value that comes with purchasing from an authorized BMW dealership.
“I’ve got bad credit. Can you get me approved?
Strategy: Credit Flexibility Close
Word Track: “I understand, and we work with a wide range of lenders who specialize in helping customers with credit challenges. Our goal is to find the best financing solution for you. May I send you a link to our online credit application so we can get started and work toward securing the best possible terms?”
Insights:
Grant Cardone: Assure the customer that bad credit is not a barrier, and emphasize your willingness to find a workable solution.
Joe Verde: Focus on providing reassurance and multiple financing options to address the customer’s concerns.
Andy Elliott: Approach the conversation with empathy and confidence, ensuring the customer feels supported throughout the process.
CX Evolution: Highlight BMW’s partnerships with a variety of lenders, showing that there are options available for customers with varying credit histories.
“Is this (sold) vehicle available?”
Strategy: Availability Assurance Close
Word Track: “Great choice on that vehicle. I’ll check on its availability right now. May I ask what drew you to it? Was it the equipment, color, or perhaps the price? We have a lot of vehicles in process that might be similar, or even better options, that aren’t yet listed online. Would you like me to check those for you as well?”
Insights:
Grant Cardone: Always present with confidence and keep the momentum by discussing alternatives if needed.
Joe Verde: Keep the conversation moving forward by offering similar options that can meet the customer’s needs.
Andy Elliott: Use the inquiry as an opportunity to uncover the customer’s preferences and guide them toward a purchase.
CX Evolution: Ensure the customer feels valued by proactively offering alternatives and showing deep knowledge of your inventory.
“I am not buying today”
Strategy: Informational Engagement Close
Word Track: “I understand. You sound like me—most people decide quickly what they’re interested in and then shop around. Let’s make this an information day. We can explore some options, take a BMW for a test drive, and I’ll provide you with all the details you need to make an informed decision.”
Insights:
Grant Cardone: Engage the customer by making them feel comfortable and informed without pressure.
Joe Verde: Use the opportunity to build rapport and trust, setting the stage for a future sale.
Andy Elliott: Position yourself as a resource, ensuring the customer feels supported and informed during their decision making process.
CX Evolution: Focus on delivering a personalized and educational experience that aligns with the customer’s needs.
“Why are the rates so high?”
Strategy: Interest Rate Assurance Close
Word Track: “I completely understand your concern. We work with several toptier lenders to secure the most competitive interest rates available based on your credit profile. Once we find the perfect BMW for you, we’ll go over all the numbers to ensure they fit your budget.”
Insights:
Grant Cardone: Reassure the customer by focusing on finding the best possible terms and reducing concerns about rates.
Joe Verde: Address the concern upfront, providing clear information and assurance about the process.
Andy Elliott: Build confidence by highlighting the strong relationships your dealership has with financial institution.
CX Evolution: Use BMW’s financial services to offer competitive rates tailored to the customer’s specific financial situation.
“Can I get it in this (unavailable) color?”
Strategy: Color Flexibility Close
Word Track: “I understand—[specific color] is one of my favorite colors too. Besides that, what are the top 2 or 3 colors you like? This will help us find one in today’s market that meets your needs and your budget.”
Insights:
Grant Cardone: Use the opportunity to engage the customer further, showing flexibility and understanding of their preferences.
Joe Verde: Keep the conversation going by offering alternative choices that could also meet the customer’s needs.
Andy Elliott: Build rapport by acknowledging the customer’s preferences and offering practical alternatives.
CX Evolution: Emphasize BMW’s broad range of color options and customization capabilities, ensuring the customer finds a vehicle that reflects their style.
“I’m looking at other vehicles.”
Strategy: Competitive Differentiation Close
Word Track: “That’s smart, making sure you’re getting the right vehicle and a great deal. Other than ensuring this BMW fits your budget, is there any other reason you wouldn’t want to drive it home today?”
Insights:
Grant Cardone: Focus on what makes your offer unique and superior to the competition.
Joe Verde: Emphasize the value of BMW’s brand, quality, and customer service to differentiate from competitors.
Andy Elliott: Engage the customer by addressing any remaining concerns and reinforcing the benefits of choosing BMW.
CX Evolution: Highlight the superior driving experience and longterm value that come with owning a BMW, setting it apart from other vehicles.
“Do you add market adjustments to the price?”
Strategy: Transparent Pricing Close
Word Track: “I understand your concern. With the limited availability in the market, many dealerships are using market based pricing. We have never used this practice. Our pricing adjustments ensure our local customers receive the best value. Let’s go over the numbers to make sure you’re getting the best deal.”
Insights:
Grant Cardone: Be upfront and transparent about pricing, reinforcing trust and confidence.
Joe Verde: Use clear communication to explain market conditions and how they affect pricing.
Andy Elliott: Reassure the customer by focusing on the value they’re receiving despite market conditions.
CX Evolution: Emphasize BMW’s commitment to fair and transparent pricing, ensuring the customer understands the value behind the price.
“I just started looking.”
Strategy: VIP Experience Close
Word Track: “That’s great! Many customers find it helpful to start with a VIP visit, where we can set up a few options for you to explore. You can test drive and get all the information you need to make a confident decision at your own pace.”
Insights:
Grant Cardone: Engage the customer early by offering an exclusive experience that makes them feel special and valued.
Joe Verde: Create a positive first impression by providing a tailored and attentive experience.
Andy Elliott: Use the initial visit to build rapport and establish trust, making the customer feel comfortable and informed.
CX Evolution: Offer a customized, hightouch experience that aligns with BMW’s premium brand image, ensuring the customer feels cared for from the start.
“Can you just tell me what my car is worth?”
Strategy: Professional Evaluation Close
Word Track: “That’s a great question. With the market changing daily, it’s important to get a professional evaluation. Are you just curious, or are you considering selling it or trading it in? Let’s arrange a time for you to bring it by, and we’ll give you the most accurate value.”
Insights:
Grant Cardone: Use the opportunity to engage the customer further, turning curiosity into potential action.
Joe Verde: Provide a professional and thorough evaluation process that reinforces trust and credibility.
Andy Elliott: Use the evaluation as a stepping stone to discuss further options, such as tradeins or upgrades.
CX Evolution: Emphasize the precision and accuracy of BMW’s valuation process, ensuring the customer receives a fair and competitive offer.
“Can you give me more for my trade? The value I received online is too low.”
Strategy: InPerson Appraisal Close
Word Track: “I understand how that feels. Online tools sometimes don’t reflect the current market conditions. We’d love to take a closer look at your car in person, where we can provide a more accurate and possibly higher value. When can you bring it by?”
Insights:
Grant Cardone: Reassure the customer by explaining the limitations of online valuations and the benefits of an in person appraisal.
Joe Verde: Emphasize the added value of a professional appraisal that considers all aspects of the vehicle.
Andy Elliott: Turn the objection into an opportunity for further engagement, offering a more personalized and accurate assessment.
CX Evolution: Highlight BMW’s commitment to providing a fair and precise valuation process, ensuring the customer feels confident in the offer.
“I’m unsure at this time, thanks.”
Strategy: Reassurance Close
Word Track: “I completely understand. Buying a vehicle is a big decision. My role is to ensure you have all the information you need to feel confident in your choice. What do you think will be your deciding factor— the vehicle, the price, or maybe the payments?”
Insights:
Grant Cardone: Provide reassurance and keep the conversation open by addressing any lingering concerns.
Joe Verde: Focus on understanding the customer’s decisionmaking process and providing the information they need to move forward.
Andy Elliott: Use the opportunity to identify and address any remaining objections or concerns, keeping the dialogue active.
CX Evolution: Emphasize BMW’s dedication to supporting the customer throughout their decisionmaking journey, ensuring they feel informed and confident.
“This is all I need today.”
Strategy: Follow Up Engagement Close
Word Track: “I’m glad we were able to go over your options. Would you be open to me sending you updates on inventory changes and specials? Many of my customers appreciate staying informed before making their final decision. Does that sound good?”
Insights:
Grant Cardone: Keep the door open for future engagement by offering valuable followups.
Joe Verde: Build a relationship by staying in touch and providing ongoing support, even after the initial visit.
Andy Elliott: Use followups as an opportunity to continue building trust and rapport with the customer.
CX Evolution: Leverage personalized communication and CRM tools to keep the customer engaged and informed.
“Teslas have more range”
Strategy: Range & Performance Differentiation Close
Word Track: “That’s a great question! While Tesla’s manufacturer-claimed range can be impressive, many independent tests find that in real-world conditions Teslas can deliver significantly less than advertised range. BMW, on the other hand, focuses on delivering a consistent, real-world range that is both reliable and efficient under typical driving conditions. For example, the BMW iX can offer around 300 miles of range, which is more than enough for most daily driving needs, and BMW’s focus on driving dynamics ensures you get an engaging, luxury experience with every mile. Would you like to experience this in a test drive?”
Insights:
Grant Cardone: Focus on the strengths of your product—don’t compete on the same terms. Emphasize BMW’s performance, luxury, and driving experience.
Joe Verde: Address the customer’s concern directly, but pivot to highlight what makes BMW stand out from competitors.
Andy Elliott: Be confident in addressing objections and use them as opportunities to differentiate BMW from Tesla.
CX Evolution: Reinforce BMW’s commitment to combining luxury and performance, with a focus on improving electric vehicle (EV) range as new models continue to develop.
