Guide to Handling Objections: Identity Theft Protection

Objection: I monitor my credit reports on my own. I don't need it.


Response: Seventy-one percent of fraud happens within a week of the theft of your personal data.

How often do you monitor your credit reports?

For a small increase in your monthly payment, wouldn't you want the peace of mind that Identity Theft Protection provides?



Objection: If this would happen to me, I could fix it on my own.


Response: Did you know that most victims of identity theft lose thousands of dollars and lost wages, not to mention legal fees, trying to deal with their cases? It's awful.

You can spend months trying to repair the financial damage caused by identity theft.

It's not easy to remove the negative information from your credit reports.

Doing it on your own is very time consuming and will make you angry, irritated and depressed.

With Identity Theft Protection, you are assigned a personal recovery representative to manage your identity theft recovery and follow up for a year.



Objection: Identity theft happens to people who shop online. I never shop online, and I am very protective of my Internet passwords.


Response: According to identity theft experts, the Javelin Strategy & Research Center, low-tech methods for stealing personal information are still the most popular method of identity theft.

Stolen wallets and physical documents accounted for 43 percent of all identity theft last year, while online theft only accounted for 11 percent.

This program I am offering to you protects you from ALL TYPES of identity theft.


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Sometimes we are our own worst enemy - 2

by Gil Van Over

This week’s news flash was not published in the conventional news media, rather in one of the online forums I periodically lurk on.

The poster, a finance manager, was extremely upset over a scenario at his dealership that day. The conflict was with a sales manager and the topic was whether to deliver a potential straw purchase.

The finance manager was adamant that the deal not go through while the sales manager was just as adamant that the car started moving down the road. The General Manager’s response? Defer.

This scenario could just as easily been the finance manager holding up a deal because of other potential bank fraud, such as power booking, credit application fraud or manufactured stipulations.

The sales manager kept pushing the “we’re all here to sell cars” theorem while the finance manager valiantly resisted with the “I ain’t doing the perp walk for anyone” argument.

In the end, the General Manager did not take a position, but rather deferred to the dealer’s attorney.

What should he have done?

I am not an attorney, but do occasionally get these type of phone calls, asking my opinion.

With the assumption that the information relayed by the poster was the complete story, my recommendation would have been to let the lender know the complete story and if the lender decides to buy the deal, document the decision and move forward (if the lender knows about the transaction, it is not technically a straw).

Otherwise, do not sell the car to a straw purchaser.

Sometimes we all need to just get back to the basics - AFI


Gil Van Over is the President and founder of gvo3 & Associates, a nationally recognized F&I, Sales and Red Flag Rule compliance consulting and training firm (www.gvo3.com).


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F&I Training Cash Conversion Video

Here is a good technique for cash conversions that is worth a look - but someone please tell this guy to throw away that chair!!!




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Cash For Clunkers

by Troy Spring

With all the "Cash For Clunkers" madness going on, (I have not talked to one manager who wasn't at least a little frustrated with all the paperwork and effort it takes to do a deal.) I thought it was especially a good time to talk about this subject.

The major reason is how much a mistake cost the Dealership and Owners in time and cash flow. If a mistake is made and you have re-submit at the "end of the line" and it the cash flow losses will add up quick. With the additional hours it takes to make a deal, the additional mental fortitude it takes to cross all the T's and dot all the I's for this program it is easy to get frustrated and disenchanted.

Many managers with that aggressive A type personality which makes them great at the job of selling and delivering cars on a daily basis are finding that channeling the B type personality and the anal retentive side of the brain is hard work, I know I would would be one of them if I was to sit in that seat. So it is without any reservation I say that this could cost people their jobs making mistakes and not getting funded by the government on deals that were contracted and spotted with $4500 on the line.

So slow the process way down, Ask for help, have someone double check the work before you click submit, make sure you take a little time to yourself and get refreshed (maybe take your day off) and not getting to overloaded and "fried". Notice: Fried and Fired use the same letters!!!!! If you are "Fried", you (or your managers) will make mistakes, a lot of them. This will only lead to you becoming more fried, and lead to getting fired because of all the meetings, efforts, yelling, etc it will take to clean up the mistakes while trying to conduct new business. It will be a vicious cycle that will not end for a lonnnggggg time.

Have a plan to do it right the first time and you will find you have a boat load of more time on your hands. With that extra time you will find you will sell more cars, deliver more cars and be much happier.

Thoughts from the author:

I agree it isn't rocket science but it was written from the heart ( after hearing some of my dealers frustrations) and thought it if it helps one dealer have less cash flow issues because he is waiting on $200k from the government for a month longer than he needs to, one guy to not lose his job over it, one manager to say, hmmmm good thinking from an outsiders point of view (in the heat of battle you can't always see every angle) than I will be one happy guy for the risks I took writing this. Troy Spring


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F&I Objection Handling: Roadside Assistance with Tire and Wheel Road hazard Protection

Objection: I have roadside assistance with AAA.

Response: Excellent. Obviously you already see the benefits of roadside assistance.

"Which AAA coverage plan do you have? AAA standard @ $64* per year? Or, AAA Plus @ $97* per year?"

"With AAA, you’ll be paying approximately $500* over 5 years, and you still won’t have protection from roadside hazards. For only $_____ per month you can have both the Roadside Assistance and Tire & Wheel Road Hazard Protection. Your tires are the only parts of your vehicle that touch the ground, and tire and wheel repairs are the most expensive repairs you will have that are not covered by the manufacturer’s warranty."

Best Practices:

1. Know your product! Many manufacturers do not provide towing unless the breakdown is due to failure of a covered part. Towing is only available if the vehicle is still under factory warranty. How much factory bumper - to - bumper is still left on the vehicle?

2. Present your customer with a copy of owner’s manual detailing what’s covered by factory roadside assistance and present it as an “upgrade” to limited factory coverage.

3. Sell it as a combo. It is the Roadside Assistance and Tire & Wheel Road Hazard Protection Plan. Point out that the factory offers NO coverage for roadside hazards.

4. Stay current on AAA Membership Benefits and rates. For example, in the South, AAA’s Membership Benefits Chart can be found online at www.aaasouth.com/membership.asp.*


!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

*** If anyone would like to offer this fantastic product in the F&I office, I am also the acting rep! Call 1-800-671-1454 or send an email to autofinanceinsider@yahoo.com. The incentive / rewards program for the F&I managers will blow your mind. LET"S TALK! --- AFI

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Check out Tire and Wheel objection handling on this You-Tube Video:


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Handling F&I Objections: Combination Products

Tire & Wheel, PDR and Windshield



Objection: I don’t want to raise my payments anymore

Response: I understand … what you are saying is that you are on a budget and staying within it is important, correct?

Customer: Yes, that is correct.

Response: You will notice that with this protection, your payment is $548 per month and without it is $529 per month. So, for only $19 per month, you are budgeting for any future expenses and the peace of mind that goes along with that. Wouldn’t you agree that the $548 payment makes more sense for your long term budget?



Objection: I already have insurance.

Response: I understand … Unfortunately, many of the perils that UVP protects you from will cost less than your deductible. Not to mention the fact that your insurance company will not replace or repair a rim or tire damaged by a road hazard. With UVP, you are protecting yourself from the three most common perils of owning an automobile. With this protection, you are buying not only peace of mind but convenience as well. Would you prefer the 3 year, or would you like to upgrade to the 5 year?



Objection: I just don't think I need it.

Response: I understand. Earlier you told me that you plan to trade this vehicle in 3 years like you have with your previous vehicles. Many factors go into the value of a trade-in such as: mileage, color, tire wear and body condition. The UVP coverage can easily increase the value of your trade because it’s going to cover the three most common perils of automobile ownership, and they will have been taken care of prior to trading your vehicle. Do you want to take advantage of the 3 year option or upgrade to the 5 just in case you keep this one a little longer then the last?



Objection: I can afford to pay for these items as they happen.

Response: I understand … and it is nice to know you have that to fall back on. But, if you don’t mind, could I ask you a question?

Customer: Sure.

Response: Why would you want to spend your time and energy on something you probably don’t really have time for? (Short pause)

With UVP, repairs can be made on your schedule and at the locations that allow better utilization of your time. UVP covers the three most common perils of owning an automobile and it’s not going to be a question of if they happen but when. Let me simplify your life today with the UVP program for only $19 a month or a single payment of ______.


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Handling F&I Objections: Paintless Dent Repair

Objection: My insurance will cover it.

Response: I understand … unfortunately, the cost of most body panel repairs are less than your deductible. This program covers those common and frustrating dents and dings that are unsightly and although expensive to repair, would usually cost less than your deductible.

Would you prefer the three-year, or would you like to upgrade to the five-year?


Objection: I don't think it's important.

Response: Do you remember how you felt when you discovered the first scratch or dent on a previous new car? As you were first getting out of your car, intuition probably told you that the person in the parking space next to you was going to open his car door into yours.

Seeing the ding probably drove you crazy.

Right now your new vehicle is perfect, but inevitably, normal wear and tear, not to mention the itiots in parking lots, will cause numerous dings and dents on your brand new car. With the Dent & Ding Protection, you can keep your car looking new for much longer and eliminate lots of frustration.


Objection: I just don't think I need it.

Response: Earlier, you told me that you plan to trade this vehicle in three years like you have with your previous vehicles. Many factors go into the value of a trade-in such as mileage, color, tire wear and body shape.

This coverage can easily increase the value of your trade because the dent and dings will have been taken care of prior to trading your vehicle.



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