Sales Manual 3.2_Neata

1 Sales Manual

2 Sales Manual













I. INTRODUCTION ................................................................................................................................................................. 4

Impact Customer Experience ............................................................................................................................................. 5
II. PRESENTATION ................................................................................................................................................................ 6

Vehicle Merchandising ........................................................................................................................................................ 6
Key Tags ........................................................................................................................................................................... 7

Buyer’s Guide .................................................................................................................................................................. 7

Price Sticker ...................................................................................................................................................................... 7

Car-Mart Decal ................................................................................................................................................................ 8

Stencils .............................................................................................................................................................................. 9

For Sale Soon Tags........................................................................................................................................................... 9

Lot Presentation ................................................................................................................................................................. 10
Aligning Vehicles .......................................................................................................................................................... 10


Wholesale Unit Display Area ...................................................................................................................................... 11

Marquees and Promotional Signage ........................................................................................................................... 11

III. SALES OVERVIEW ......................................................................................................................................................... 12

Sales Associate Description .......................................................................................................................................... 13

Sales Associate Schedule and Weekly Meetings ....................................................................................................... 14

Sales Achievement Award and Monthly Goals ........................................................................................................ 14

CAR-MART SALES PHILOSOPHY ................................................................................................................................ 15
Sell Yourself ................................................................................................................................................................... 16

Sell the Company .......................................................................................................................................................... 16

Sell the Vehicle ............................................................................................................................................................... 16

Prospecting .............................................................................................................................................................................. 17

Prospecting Sources ........................................................................................................................................................... 18
Digital Prospecting Log ..................................................................................................................................................... 19
Prospecting Best Practices ................................................................................................................................................. 20

I. INTRODUCTION 3



IV. SALES PROCESS ............................................................................................................................................................. 21

Pre-Deal ............................................................................................................................................................................... 21
Greeting the Customer ................................................................................................................................................. 21

Determine Customer Needs ........................................................................................................................................ 22

Show the Vehicle ........................................................................................................................................................... 22

Test Drive ....................................................................................................................................................................... 23

Get a Commitment ........................................................................................................................................................ 24

Overcome Objections .................................................................................................................................................... 24

Write the Deal ..................................................................................................................................................................... 25
Quick Credit Application (Quick App) ................................................................................................................. 25


Sales Quote ..................................................................................................................................................................... 25

Special Payments ........................................................................................................................................................ 26

Seasonal Payments .................................................................................................................................................... 26

Trade-Ins ......................................................................................................................................................................... 27

Financing Term Limits .................................................................................................................................................. 28

Present Deal to Management ....................................................................................................................................... 28

Completing the Deal .......................................................................................................................................................... 29
Sales Policies .................................................................................................................................................................... 29

Full Credit Application (Full App) ............................................................................................................................. 30

Credit Application Verification ................................................................................................................................... 30

Final Approval or Denial ............................................................................................................................................. 31

Pre-Closing a Loan ........................................................................................................................................................ 32


Closing a Customer ....................................................................................................................................................... 33
Vehicle Delivery ............................................................................................................................................................ 34


Post-Sale Follow Up ...................................................................................................................................................... 34

4 Sales Manual












At America’s Car-Mart, we primarily serve a customer

whom most lending institutions would consider a sub-prime

borrower. Many people come to us with low income, little


credit history, or even past credit problems that might prevent

them from obtaining conventional auto loans. Just because

many of our customers have at one time had difficulty making

timely payments to us, or other creditors, does not make them


any less important and deserve to be treated with the utmost

respect and dignity.



This manual provides a

comprehensive view of

Merchandising and Sales

policies and procedures,


from the moment a vehicle

first arrives at our dealership

to the time the customer pays

the contract in full. By practicing the guidelines set forth in


this manual, we will enhance our sales volume and increase

customer satisfaction. Further training on topics within this

manual can be found in Litmos or by clicking on any of the


training videos included throughout this manual.

I. INTRODUCTION 5



IMPACT CUSTOMER EXPERIENCE



To provide the level of service our customers deserve, we


must fulfill our Mission Statement every day, as the

cornerstone of growth for any retail business is repeat

business. We earn the repeat business of our customers by


providing a clean, mechanically sound, quality vehicle,

payments they can afford, and superior customer service. The

sale and delivery of the vehicle is only the beginning of a long-


term commitment to customer service.


As the old adage states, “You

only get one chance to make a first

impression”. Often, the first


impression we make occurs when we

greet a customer on the lot. Associates

must have a professional appearance,


friendly demeanor, and eager to serve.

We must be knowledgeable of our inventory and able to

answer any questions our customer has. We present our


product in a professional manner, properly lined and

appealing to drive by traffic. Finally, our facilities must exude

professionalism from the lobby to the sales desk to the

restroom. All of this is crucial to creating the “Car-Mart


experience” that sets us apart from our competitors.

6 Sales Manual












Merchandising is crucial to effectively presenting our

inventory, and Car-Mart, in a professional manner that

immediately establishes a positive perception from the


beginning. Consistency in the way we present our dealerships

and inventory to the public is very important. Even though

our dealerships vary greatly in physical size and layout, each

one should look and feel like a Car-Mart through consistent


merchandising.













VEHICLE MERCHANDISING




The following procedures are to be completed upon the

arrival of a new vehicle being offered for sale. Each of the

following procedures are to be performed


consistently as outlined on all retail units

without exception. Pay close attention to

the outlined details and duplicate the

process on every vehicle in a manner that

is consistent and professional.

II. PRESENTATION 7



Key Tags



Key tags accurately record the stock number, year, make,

model, body style, and color. Key tags for both the main and

spare key should be filled out on every vehicle immediately


upon arrival as part of the vehicle check-in process.


Buyer’s Guide



Per Federal Law, every vehicle displayed in inventory at a

dealership must have a Buyer’s Guide, which communicates if


a vehicle is covered under any type of warranty or has a

service contract available. For this reason, it is policy to place a

completed Buyer’s Guide in the correct location (varies by body


style) of every vehicle immediately upon arrival.


Price Sticker



Price Stickers provide shoppers with basic vehicle

information, as well as promote any services offered. Printed

at the dealership, only approved price sticker templates


(UltiPro) are authorized to ensure we consistently provide neat,

professional branding throughout our company that is

compliant with all regulations. Price stickers are to be placed

in the upper corner of the front windshield (passenger side),


below the tint line and positioned straightly when viewing

from the front of the vehicle.

8 Sales Manual




Car-Mart Decal



Remove all previously placed decals,

stickers, as well as any residue, from

vehicles unless it’s a state required


inspection sticker. Upon removal,

carefully apply a Car-Mart Decal to the

upper left rear of the vehicle. However,


on some models there is not adequate space, or a flat surface,

to place the decal in the upper left rear and in these

circumstances proper judgment should be used to place the

decal in the best location


on the left rear of the

vehicle.


Ensure the decal is


placed in a location that

appears natural, non-

cluttered, and positioned


straightly. It is Company

policy all retail units have

a decal applied and

displayed as outlined


above.

II. PRESENTATION 9






Stencils



Stencils are used to catch the attention of potential


customers and highlight features, or specials, on certain

vehicles. Position stencils in a windshield, or window,

location that provides maximum exposure; however, never


place a stencil in a location that would hinder the driver’s

vision during a test drive. Only apply stencils to cleaned

surfaces, in a professional

manner.










For Sale Soon Tags



Any vehicle on our

dealership not currently

available for sale should have a


“For Sale Soon Tag” hanging

from the rear-view mirror.

This includes vehicles awaiting

title, sold on layaway, on


deposit, and more.

10 Sales Manual




LOT PRESENTATION




Aligning Vehicles


Car-Mart gives high priority to Lot Presentation, aligning


vehicles in a professional, attractive manner that properly

utilizes the layout and space of each lot. Dictated by inventory

levels, display areas can be filled by increasing, or decreasing,

the angles and spacing of vehicles. Align moved vehicles


throughout the day maintaining lot presentation and never

leave the dealership for the day until all vehicles are properly

aligned and merchandised. At least once a week, a complete


lot realignment is to occur offering a fresh presentation of

inventory and boost lot traffic.

II. PRESENTATION 11



Wholesale Unit Display Area



Always keep wholesale units, including pending

repossessions, neatly organized in a location separate from

retail units, preferably out of public view. Additionally, a


designated area for associate parking should be kept separate

from the retail display area.


Marquees and Promotional Signage



All dealerships are equipped with a standard Car-Mart


sign and message board, with some locations having modified

versions to comply with any local regulations. The marquee is

used to communicate sales promotions, or special deals, and


should be updated to a new slogan at least once a week. To

maintain a professional marquee image and effectively

communicate with

customers, it is policy

to check our signage


daily for missing

letters, alignment,

misspelled words,


and to assure the

slogans are relevant

to our existing


promotion.

12 Sales Manual












A customer often visits our dealership for just one reason,

to buy a vehicle. It is our responsibility to guide them through

the buying process in an efficient, pleasant manner that is


prepared to meet their needs and answer any questions they

might have. From the vehicle demonstration, through the

credit application process, all the way to the vehicle delivery,

we make the customer’s satisfaction our priority.



Regardless of position, all Associates share in the

responsibility of ensuring a superior buying experience and


level of service to our valued customers. As result, while the

remainder of this manual will often refer to sales associates,

the policies and procedures apply to any associate who

engages in selling a vehicle.

III. SALES OVERVIEW 13



Sales Associate Description



A Car-Mart Sales Associate is different than the typical

commissioned salesperson in many aspects. Compensated

with both a base salary and commission, Sales Associates have


other responsibilities outside of just selling cars, such as

processing new arrivals, merchandising, changing sign

slogans, aligning the lot, filling out credit applications, running


sales paperwork, and more.


Successful Sales Associates often possess certain

characteristics and like all Car-Mart Associates, are held to the


highest standards of integrity, customer service, and ethical

selling techniques.

14 Sales Manual







Sales Associate Schedule and Weekly Meetings



Per policy, each dealership is to hold a weekly sales


meeting to communicate sales promotions, specials, inventory,

presentation and training. Regardless of the topic and training

covered, these meetings are mandatory each week and should


include all associates involved in sales.


The General Manager will determine a work schedule that

provides the Sales Associate the greatest opportunity to sell


vehicles and help our valued customers. Due to slower

volume on Tuesday and Wednesday, the normal off day for

Sales Associates will likely be scheduled one of these days.


Sales Achievement Award and Monthly Goals



Sales Associates are assigned both a monthly sales goal as


well as a monthly quick app goal. It is the expectation to meet

or exceed these monthly goals. The monthly quick app goal is

determined by multiplying monthly sales goal by three.



A Sales Achievement Award is awarded at the conclusion

of each month to the Sales Associate in each region who sold

the highest percentage of their sales goal for the month.

III. SALES OVERVIEW 15



CAR-MART SALES PHILOSOPHY



Car-Mart’s Sales Philosophy is to sell yourself, sell the


company, and then sell the vehicle. Car-Mart believes in an

honest, aggressive sales approach, but not to the point of

pressuring our customers into a purchase they will later regret.


We will be servicing the customer’s account for the length of

the contract and it’s important our

relationship begin properly if we


are to earn their repeat business.


The Sales Associate should

try hard to match the right vehicle

to the customer’s needs and write every deal possible,


regardless of terms, qualifications, etc. and present it to

management. It is the responsibility of management at each

dealership to improve, deny, and approve all deals.

16 Sales Manual




Sell Yourself



Our customers want to do business with someone they

can trust, listens to their needs, and is knowledgeable in

guiding them through the decision-making process. A Sales


Associate’s first objective is to “Sell Yourself” to gain trust and

make the customer feel comfortable doing business with the

individual, not just Car-Mart.


Sell the Company




The next step in the Sales Philosophy is to Sell the

Company. To do this you must know the Company history,

culture, Mission, Vision, Values and have a strong belief in the


Company, what it stands for, and operate in a manner that is

in alignment with these ideals. This knowledge will enable

you to represent our company in a powerful, genuine manner.


Sell the Vehicle



If successful in selling yourself and the Company, selling


the vehicle becomes the easy part. The task then becomes

determining the needs of the customer and ensuring you have

inventory available as well as knowledgeable of that inventory.

Prospecting 17











Prospecting involves the manner and methods we use to

reach out and appeal to potential customers in the local

community. While our intentions with prospecting is


ultimately the same, to earn the business of a prospective

customer, the method in how we might accomplish this can

vary. There are a variety of ways to prospect and each should

be utilized to a various extent in order to connect with all the


potential customers in your market and share the great

services Car-Mart has to offer.



Once we engage with a potential customer, our approach

should always be the same: Act with a sense of urgency to

fulfill the customer’s needs in a professional manner while

providing an experience that exceeds their expectations.


Whenever we have a new prospective customer, it is very

important we reach out to them as quickly as possible and are

added to the digital prospecting log.

18 Sales Manual




PROSPECTING SOURCES



Prospecting Sources can range from our digital marketing


and online applications, to radio advertisements and passing

out flyers in the local community. It is important to keep in

mind that not every customer can be reached by just one


method of prospecting, so it is crucial to ensure all methods are

utilized to the extent necessary in to reach as many customers

as possible in your community.


Whenever we have a new

prospective customer, it is very

important we reach out to them as

quickly as possible and they are


added to the digital prospecting log.

19 Sales Manual




DIGITAL PROSPECTING LOG




Each store’s success or failure at prospecting is

determined by the importance the General Manager places on

using Electronic Prospecting Log, located within ALIS. Every


prospective sales contact, regardless of source, should be

recorded within this log to track and assist with prospecting

future sales. GMs should make it a

priority to assign the web leads as


soon as they get a notice. An

Associate should call the prospect

immediately to set up an


appointment.


It is Company policy to keep updated notes in the log for

all prospects and details related to their status, such as desired


vehicle type, needs, or recent communication. Any

correspondence with a prospective customer, from a simple

phone inquiry to scheduling an appointment, is to be updated

in the prospecting log immediately.

20 Sales Manual




PROSPECTING BEST PRACTICES



Management should follow up and meet with their sales


team daily to know how many prospect calls, appointments,

and quick apps they are completing each day. This allows for

a mutual understanding of the expectations and establishes the


importance of prospecting.


During this meeting, a daily prospect call goal is to be

assigned based on the prospect log in addition to reviewing


the log for opportunities to follow up with potential customers.

Every prospect on the log is to have a follow up date listed; if a

prospect is missing this date, the Manager should inquire with

the Sales Associate and potentially reassign as necessary.

IV. SALES PROCESS 21











The following paragraphs depict basic procedures for

selling a vehicle. You will encounter situations not covered in

this manual; however, these fundamentals will equip you to


overcome them. You are encouraged to hone your sales skills

by role playing with your supervisor or other associates.


PRE-DEAL




Greeting the Customer



Greeting the customer involves a

straightforward introduction and


friendly exchange of names.

Customers are to be promptly greeted

by shaking hands and offering a warm


welcome. Once you have exchanged names, offer the

customer a business card and enthusiastically let them know

we appreciate them coming to our dealership. Per policy, the

Sales Associate should always be prepared and have their sales

kit with them when greeting a customer.

22 Sales Manual




Determine Customer Needs



Determine the customer needs by listening to details and

asking questions. Based upon these needs, identify and

suggest vehicles in inventory that will meet the customer’s


needs. Pay close attention to their feedback, as matching the

customer with the right vehicle is crucial, not only to earning

their business, but setting them up for long term success. The


answers given by the customer give you the information

needed to begin showing vehicles, however, if the customer

shows immediate interest in a particular vehicle, bypass these

questions and immediately offer a test drive.



Show the Vehicle



Start with the oldest vehicle in inventory and then work

your way down the list, also known as “selling from the top of

the inventory list’. These vehicles are usually on special and

can be a perfect match for someone without a full down


payment. Point out the vehicle’s selling points and answer any

questions the customer may have. While showing the vehicle,

begin selling our company.

IV. SALES PROCESS 23



Test Drive



Use the test drive as an opportunity to sell the company

and encourage any questions. Point out the features of the

vehicle and try them out, such as the stereo or windows. To


build their confidence in you, point out

any feature you know does not work,

which develops trust as well as affirms


our commitment to non-deceptive

selling tactics.


Follow a predetermined course and upon returning,


suggest the customer park next to the building and come

inside to write a deal. If the Customer is unwilling to go inside

the building to write up a deal, do everything possible to

introduce them to a Manager before leaving and overcome any


objections. Record their name, address, phone number, and

information to the prospecting log as well as a scheduled time

to follow up.

24 Sales Manual




Get a Commitment



The next step in the sales process is to get our customer to

commit to a vehicle. We do this by asking questions that will

elicit either a positive response or an objection.



Overcome Objections



An objection is often the real reason a

customer will not buy today and

typically related to the vehicle


condition, price, terms, or their personal

situation. Overcome the objection in a

manner that makes the customer comfortable, however never


make a promise you cannot keep. If you are uncertain, find

someone who has the authority to make the decision or answer

the question. If unable to overcome a customer’s objections, or

they insist they are not buying today, do your best to get them

to come in the office and introduce them to a member of


management.

IV. SALES PROCESS 25



WRITE THE DEAL



Writing the deal consists of three components:


negotiating terms (Sales Quote), obtaining basic customer

information (Quick Credit Application), and management

participation (present to Management).


Quick Credit Application (Quick App)



This provides management with basic information needed

to determine if a deal is worth pursuing. Please see the Full

Credit Application section of this manual for more instruction


on filling out the Quick App.


Sales Quote



Begin writing the deal by putting together a Sales Quote

for the customer based on the vehicle to which they


committed. Fill out all information requests on the Sales

Quote in its entirety, such as name, address, vehicle, and

payments. When putting together the initial quote, seek the

highest down payment and shortest financing term possible


before presenting the deal to management. Getting as much

down as possible creates an equity situation for our customer

more quickly, so be sure to explore all the services we offer to


structure the best deal possible.

26 Sales Manual




Special Payments
Customers who don’t have the full down payment can

pay a few higher special payments in the beginning of the


contract to make up the remaining balance of the down

payment. Set special payments up so that all, or as much as

possible, of the down payment is collected within 60 days of

the sale. However, it is policy to never set a customer up for


payments we know they cannot afford or lack confidence in

their ability to be successful under the terms listed.


Seasonal Payments
To help customers gain equity in their vehicle as quickly


as possible, the Company established the seasonal payment.

Seasonal Payments are based on the customer receiving a tax

refund and is a violation of policy to schedule seasonal


payments if a customer is not expected to receive a tax refund.

By default, ALIS will automatically calculate and schedule two

seasonal payments when creating a new sales quote, the first

scheduled in February of the upcoming year and the second


scheduled for February the following year.


Sales Promotions
There are generally two types of promotions we utilize;

down payments as low as $XXX and $XXX off the down


payment. It is our practice to collect the remaining down

payment amount within 90 days of the date of sale utilizing

special payments. Special payments are amounts in addition

IV. SALES PROCESS 27



to the regular payment amounts. Regardless of the promotion,

it’s acceptable to ask for more down payment and/or special


payments. Don’t be afraid to ask – additional monies up front

help get our customer to an equity situation much sooner.



Trade-Ins


It is our policy and engrained in


Car-Mart culture to trade for anything

of value, outside of guns and

ammunition. Over the years, we have

traded for a wide range of items from farm animals to


electronics. Question your customer to determine what they

may have of value to trade. To maintain inventory

organization, mark all trade-ins upon receiving into inventory

and place a buyer’s guide in the appropriate location.

28 Sales Manual




Financing Term Limits



To best enable our customer to become a “repeat customer,”

we must get them into an equity situation as quickly as

possible. To accomplish this, we have established financing


term limits, which is the length of time we will finance a

vehicle based on the amount financed. As result, not every

customer will qualify for financing. Affordability is an


important part of management’s decision to grant credit and it

is crucial we set our customer up for success.


Present Deal to Management



Present the Sales Quote and Quick App to the General


Manager or Assistant Manager, who will determine whether to

proceed with the sale or not. At this time, they will introduce

themselves and then deny the deal or attempt to better the

terms before giving approval to continue the process.



Adverse Action Notice


When an application for credit has been made and denied

based on information contained within the application, Federal

Law requires the creditor provide the applicant an Adverse

Action Notice (AAN), which states the decision was based on


legitimate reasons and not discriminatory reasons such as

gender, ethnicity, etc.

IV. SALES PROCESS 29



COMPLETING THE DEAL



Sales Policies



Selling Vehicles without Titles
Under no circumstances is a vehicle to be sold without a


negotiable title in possession, including lay-a-way sales. While

it is permissible to take a good faith deposit, the sale cannot

take place until we have a negotiable title.



Selling Vehicles to Minors
Selling a vehicle to anyone under the age of eighteen years

of age, either as a buyer or as a co-buyer, is strictly against

Company policy and prohibited under all circumstances.



Insurance Requirements
Per Company policy, if the amount financed on a vehicle

exceeds $10,000, full coverage insurance will be required and

must be in effect before the customer takes possession of the

vehicle. Once the balance owed is under $10k, the Company

no longer requires full coverage insurance, however some

states mandate full coverage insurance at all times (Texas).

Credit Reports
Our practice is to run credit bureau reports on applicant’s

purchasing a vehicle with a retail price of $12,000 or more.

30 Sales Manual




Full Credit Application (Full App)



Per policy, we do not allow our customers to fill out their

own credit application. We require a new credit application

for each purchase, including current or previous Car-Mart


customers and never copy information

from a prior application. Ensure the

information recorded is accurate and


promotes the highest probability for

success.


Once the application has been completed, read the


disclosure paragraph and ask all applicants to print and sign

their name as well as date the application. It is also necessary

for the applicants to sign a Borrower’s Consent form (UltiPro).




















Credit Application Verification



All credit application information must be verified, even

with previous Car-Mart customers. It is advised to have an

IV. SALES PROCESS 31



associate other than the applicant taker responsible for this

task. The verification process can take anywhere from twenty


to forty minutes, keep your customer engaged during this time

by offering them a soda, popcorn, or magazines. Keep them

apprised of the progress of the verification, but do not leave

them alone for extended periods of time.



Final Approval or Denial



It is the responsibility of the general manager or assistant

manager to personally approve or deny all loans. Once the full

credit application has been verified, it and the final sales quote


are presented to a member of management. Management will

review the application for trends or habits that need to be

discussed with the customer prior to making a final decision.



Once a decision has been made, Management will discuss

the decision with the customer. If the loan is denied, we must

comply with Adverse Action Notice requirements as outlined


previously in this manual. If we intend to approve the loan,

the member of management will move forward to pre-close

the loan prior to giving final approval.

32 Sales Manual




Pre-Closing a Loan



The purpose of pre-closing a loan is to emphasize certain

contingencies of the loan that are pertinent to an applicant’s

unique situation. Pre-closing a loan should take no longer


than five to ten minutes and please understand these are

conversations, not canned speeches. Ask plenty of questions to

assure our applicant fully understands and agrees to our


expectations. There is a Pre-Close document (ULTIPRO) for the

manager and customer to sign acknowledging agreement to

the terms on certain contingencies of the loan.



Don’t be surprised if we

occasionally lose a deal during the

pre-close. There will be times when

our applicant decides they cannot or


will not live up to our expectations.

This is unfortunate, but it usually

demonstrates the applicant’s


commitment, or lack thereof, to the

business relationship.

IV. SALES PROCESS 33






Closing a Customer



We use a Closing Video to answer


“frequently asked questions” and explain

the terms of the loan. Furthermore, we

review and explain all loan documents in


our closing process and provide our customer a copy of each.

Escort our customers to the closing office to view the Closing

Video and reiterate this video should answer any questions

they might have. While the customer is watching the closing


video, the vehicle should start being prepared for delivery and

the sales documents should start being generated. Please refer

to our Office Manager’s Manual for instructions on running a

sale in ALIS and the Closing process.

34 Sales Manual




Vehicle Delivery



The delivery of the vehicle should be enthusiastic and

celebratory to congratulate the customer on their new

purchase. Before delivering, remove all pricing information,

stencils, and flyers from the vehicle, however do not remove

the Buyer’s Guide as this must be done by the customer. If

applicable, prepare a temporary tag and secure it to the

vehicle, preferably in the rear

license plate holder. It is our

practice for a member of

management and the selling

associate deliver the newly

purchased vehicle.


Post-Sale Follow Up



As part of our commitment to providing excellent

customer service, it is our policy that the selling associate mail

their new customer a thank you note the day of the sale, and


then call them within one week of their purchase. We do this

to assure they are satisfied with their vehicle and their buying

experience. Don’t be afraid to ask them to suggest areas we


can improve on. Also, take this time to ask for names and

phone numbers of any friends or family members interested in

buying a used vehicle.