Car Dealer Turnover
At the height of the ether, the customer is “t.o.’ed” (turned over to the Finance Manager of car dealer). This person’s job is to close the deal and maximize the profit in the process. If done really well, the customer will never know how bad it really is.
Much like passing the baton in a relay race, the smoother that the Turnover is executed, the less likely it is that the customer will expect what is about to happen next. At this point, the customer actually thinks the hard part is over with and that all they have to do, the customer and car dealer is to sign some papers. After all, that’s what the salesperson said they were going to do next. Actually, the selling process is still going on. The customer has just arrived at “part two”.
The F & I Manager can also be called a “Business Manager” or something similar. The reality, however, is that they are just another salesperson in the chain of a car dealer. Their job is two-fold: first, to get all the paperwork signed; second, to sell (or pack) soft add–on’s into the deal.
This is where knowing the customer’s background can be extremely useful. If the customer is married, credit life and disability insurance become much easier to sell (“gosh, you wouldn’t want the bank to come and take your car and leave your wife/husband stranded if something suddenly happens to you, would you?” is a question that is most effective when asked right in front of the other spouse). If the customer had a trade in with “negative equity” (a phrase invented by the car sales business), it is easy to convince them that they really do need Gap insurance.