OBJECTION

"I can't afford the payment"

Payment objections almost always occur on the menu (if using one) because that is when and where payments are introduced.  It is important to isolate this objection more than any other one because it is too easy for a customer to say the payment is too high without ever having to reveal the real objection.

SUPPORT AND ISOLATE - "I can appreciate that.  Provided the payment is affordable does this sound like a program you would like to enroll in?"

TRANSITION STATEMENT - "I understand how you feel, others have felt the same way, but they found that the fact that they were on a budget and concerned about the higher payment is all the more reason to enroll in the protection"

NARROW QUESTION- "Certainly, then, protecting your budget is important to you isn't it?"

FEATURE/ BENEFIT PRESENTATION - "The average repair order in our dealership, not including maintenance orders is about $525.  Having to pay for that repair and making your monthly payment would be much like having to make two payments in one month.  IF you are on a budget that would be tough wouldn't it?  A service contract actually budgets the cost of repairs, ensuring for a covered repair you only have to pay a small $50 deductible"

TRIAL CLOSE STATEMENT - "Can you see how enrolling in the service contract today would actually budget the cost of repairs right into your monthly payment, leaving you with a small deductible and help avoid the cost of repairs that could hurt your budget?"

CLOSING STATEMENT - "Which plan would work best for you?"

Many Business Managers begin negotiating price when they hear a payment objection and that is absolutely the wrong thing to do.  If it ultimately comes down to dropping price, do so by raising the deductible, shortening the term or mileage or by lessening the coverage.  Extending term is also an option but explore the other methods of giving payment relief first.