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Young Hyundai > Dictionary/Glossary > Flashcards

Dictionary/Glossary Flashcards

1
Q

FAB

A

Feature
Advantage
Benefit

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2
Q

A/B Pencil

A

Presenting 2 options of how to buy (purchase, lease)

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3
Q

ABC

A

Acknowledge
Bridge
Control

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4
Q

CSI

A

Customer
Satisfaction
Index

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5
Q

CASH

A

Choice of customer
Attitude
Selling skills
Habits at work

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6
Q

CRIC

A

Clarify
Rephrase
Isolate
Close

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7
Q

DISC

A

Does
It
Sell
Cars

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8
Q

EMI

A

Early
Manager
Involvement

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9
Q

LAST

A

Look
Act
Sound
Think Young

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10
Q

Lick the paint

A

Make them feel ownership of the car

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11
Q

Pencil

A

Numbers presented to customer on how they can buy it

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12
Q

SPACED

A

Safety
Performance
Appearance
Comfort/convenience
Economy
Dependability

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13
Q

SWIM

A

Smile
Welcome
Introduce
Move to rapport

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14
Q

TURN

A

Getting a manager involved to move the deal forward.

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15
Q

Tie Downs

A

Phrases that warrant a yes or no response.
(“Isn’t it..? Won’t it…? Right…?)

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16
Q

Types of questions

A

Either/or
Open-ended
Yes questions

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17
Q

MSRP

A

Manufacturer’s Suggested Retail Price

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18
Q

Rebate

A

Partial refund or reduction of the cost of an item that is paid after the purchase has been made.

19
Q

Lease

A

Another way to buy a product but only paying for the portion of the product that they are using.

20
Q

Adjusted Cap Cost

A

The price a customer is buying the product, plus or minus trade and down payment.

21
Q

Residual Value

A

The estimated value of the product at the end of the lease term set by the lender or financial institution.

22
Q

Money Factor

A

The financial rate the customer is being charged. It is expressed as a multiplier that can be used to calculate the monthly payments.

23
Q

Money due at signing

A

Taxes, title, license, fees, and first months payment

24
Q

Negative Equity

A

Deficit of owners equity, occuring when the value of an asset used to secure the loan is less than the outstanding balance of the loan.

25
Q

3 Categories that objections can be reduced to:

A

Budget
Decision
Deal

26
Q

OBJECTION SEQUENCE
One step:
Two step:

A
  1. Repeat!
    (EXAMPLE
    Customer: We really want to think it over.
    Sales Rep: Think it over?)
  2. Why?
    (EXAMPLE
    Customer: We really want to think it over.
    Sales Rep: (cm name), there must be a reason why you’re hesitating, would you mind if I ask you why?)
27
Q

OBJECTION SEQUENCE

Clarify:

A

Either/or question used to pinpoint true objection.

(Was it something I said, is it the color, the equipment or is it the price?)

28
Q

OBJECTION SEQUENCE

Rephrase:

A

Convert: Funnel their objection to either Budget, Decision or Deal. Tie down with a YES question.

(EXAMPLE
Budget: It sounds like you guys are like me and just about everyone else, it sounds like you’re on a monthly budget, am I right?

Decision: When you say you want to run this past your wife it sounds like you are like me and just about everyone else, it sounds like you want to make sure that you are making a good decision, is that right?

Deal: When you say you want to shop around it sounds like you are like me and just about everyone else, it sounds like you want to make sure you are getting the best deal, is that right?)

29
Q

OBJECTION SEQUENCE

Isolate:

A

Make sure this is the only objection.

(EXAMPLE
Budget: So other than sitting down and fiddling with the figures to make sure this fits your budget, is there any other reason we couldn’t put all this shopping behind you, and wrap this up right now?

Decision: So other than sitting down and showing you that you’re making a good decision is there any other reason I couldn’t send you home in it right now?

Deal: Other than sitting down and making sure that I show you that you’re getting the best deal, is there any other reason you wouldn’t buy right now?)

30
Q

OBJECTION SEQUENCE

Close:

A

Either/Or: Close with an either/or question focused on registration, refreshments, or accessories.
(EXAMPLE
Registration: Great, will you be the only one listed on the title or will someone else be listed as well?

Refreshments: Great, follow me. Would you like a cup of coffee or something cold to drink while we wrap this up?

Accessories: Great, would you like to leave it or take it and bring it back?)

31
Q

__% of deals are made on the 5th attempt at closing.

A

80%

32
Q

OBJECTION SEQUENCE

Rephrase: Budget

A

Budget: It sounds like you guys are like me and just about everyone else, it sounds like you’re on a monthly budget, am I right?

33
Q

OBJECTION SEQUENCE

Rephrase: Decision

A

Decision: When you say you want to run this past your wife it sounds like you are like me and just about everyone else, it sounds like you want to make sure that you are making a good decision, is that right?

34
Q

OBJECTION SEQUENCE

Rephrase: Deal

A

Deal: When you say you want to shop around it sounds like you are like me and just about everyone else, it sounds like you want to make sure you are getting the best deal, is that right?)

35
Q

OBJECTION SEQUENCE

Isolate: Budget

A

Budget: So other than sitting down and fiddling with the figures to make sure this fits your budget, is there any other reason we couldn’t put all this shopping behind you, and wrap this up right now?

36
Q

OBJECTION SEQUENCE

Isolate: Decision

A

Decision: So other than sitting down and showing you that you’re making a good decision is there any other reason I couldn’t send you home in it right now?

37
Q

OBJECTION SEQUENCE

Isolate: Deal

A

Deal: Other than sitting down and making sure that I show you that you’re getting the best deal, is there any other reason you wouldn’t buy right now?)

38
Q

OBJECTION SEQUENCE

Close: Registration

A

Registration: Great, will you be the only one listed on the title or will someone else be listed as well?

39
Q

OBJECTION SEQUENCE

Close: Refreshments

A

Refreshments: Great, follow me. Would you like a cup of coffee or something cold to drink while we wrap this up?

40
Q

OBJECTION SEQUENCE

Close: Accessories

A

Accessories: Great, would you like to leave it or take it and bring it back?)

41
Q

Government Fee

A

Registration, Property Tax, Temp Tags

42
Q

Proc/Doc Fee

A

Processing and Document Fee

This is how we pay the employees in the back and at the office.

43
Q

Net Trade

A

How much they make or lose on the trade depending on if they have positive or negative equity on it.

Young Hyundai (40 decks)

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