The 99.9% Close

F&I Tips is a weekly informational video series brought to you by American Financial & Automotive Services, Inc.’s F&I University (FIU). Our associates bring decades of real-world experience in the automotive industry to this F&I Tips video series, as well as our five-day intensive F&I School at our corporate headquarters in The Woodlands, Texas.
In this video, Dwayne Wiggins discusses how to address the good car objection.
You’re addressing the good car objection and you may be getting that one more often than you would like to. There are several different ways to address that objection. Let’s go over one now that’s been around a little bit, however its still reliable and it still works with todays advanced vehicles given the number of components and parts that are on our cars. It’s the 99.9% reliability close.
“So, yes you are right, it is a really good car. In fact, that’s one of the reasons why you’re here getting another one and that’s also one of the reasons why I work here because they do have a great product. But if you drove off the lot today and the one you bought is 75% reliable, would that still be a good car? No, absolutely not. That means that it would be in the shop one week out of every month. Well that would not be a good car and that’s not what we’re known for and we don’t expect that type of performance. I would also love to tell you that if you drove it off today, it would be 100% reliable, but I can’t make that statement either because here’s the thing I know is that the car is still a machine and sometimes machines break. Even the factory knows that there may be issues and that’s why they give you protection and a warranty up front. But let’s say that the car you buy is as close to perfect as you can get and it’s 99.9% reliable, that would be pretty fair, right?
So that means that in today’s vehicles, that’s 16,000 moving parts that are on the cars. Of those 16,000 moving parts, if it’s 99.9% reliable, that means all of those disappear except for 16. So that still leaves us with 16 parts that could be a problem. Of those 16 parts, because you are buying such a good product, let’s say that some of those don’t exist and if they do exist, the factory covers some of those. So, of those 16 we have left, let’s say that 10 of those disappear.
So that leaves you with 6 parts. Of those 6 parts, here what you have to know, our average repair ticket over in the service department when you bring your car in to get it fixed is $800 per visit. So that means if you have 6 parts and they are $800 a piece, that means that’s $4,800 worth of risk out there. “
So, when you go with that good car objection, remember the 99.9% trouble free is a good reliable discussion to have with your customers. It’s been around a while, but if something is not broken, don’t fix it. That’s your tip of the week.
Make sure to subscribe to the American Financial RUclips channel for weekly F&I Tips and more from our team at the Automotive Training Academy and FIU.
Sign up for the F&I school that has won 4 consecutive Dealers' Choice Awards - www.afasinc.co...