As you probably know, more and more customers are opting for CPO vehicles. And this may be good news for your store if you, like so many others, have an inventory full of off-lease vehicles. Also, if a CPO shopper has a positive experience at your dealership, they may come back to buy a new car the next time they're in the market.
Even if they return for another CPO vehicle (as many consumers do), repeat business is always welcome. So, what's the best way to keep these CPO buyers coming back for more? According to the Best CPO Dealers issue of Auto Remarketing, you should give them a "like-new" experience.
What CPO Customers Want in Their Car Buying Experience
Obviously, CPO cars aren't new, but they're often touted as being "like-new." That is, buyers typically go with a CPO option because these vehicles come with perks that "regular" used cars may lack. For example, most shoppers know that they're getting a warranty and a full inspection performed by a factory-trained technician.
It's likely that CPO vehicles are gaining in popularity because they do come with new car qualities, but not new car price tags. So, if a customer is on the fence about whether or not they want to purchase a CPO model, highlighting its "newness" might be a good way to close the deal.
It will also make your customer feel good about the deal they're getting and leave them with a favorable impression of your store. Auto Remarketing has recently reported that CPO sales are already up 0.8 percent in 2017. So, it's likely that you'll be getting plenty of shoppers who are interested in a certified pre-owned model. When these customers are in your showroom, try treating them to the following:
- Have a product specialist go over all of the tech features in the CPO vehicle they're looking at.
- Talk up the warranty that comes with a particular CPO car. This works especially well with Kia and Hyundai vehicles that come with extra-long powertrain warranties.
- Avoid talking about a CPO option as a slight upgrade from used. Instead, emphasize the fact that it's a smart alternative to a brand new car.
Finally, once a CPO vehicle is sold to a happy customer, follow up the sale with a courtesy call to ask how the buyer's ownership experience is going so far.
Getting More of the Customers You Want into Your Store
If you're expanding your subprime outreach, Auto Credit Express can help you get more of these customers into your store. We offer the best subprime sales leads in the industry. And, yes, it's true that a lot of buyers with credit issues are in the market for used cars. But a surprising number of these shoppers are looking for CPO vehicles and even new cars.
In addition to sales leads, we can provide innovative dealer products and personalized market analysis reports. See what we can do for your business by giving us a call at 888-535-2277. Or, just fill out the convenient contact form on our website.