What is your best close for someone who is upside down?

Bart Wilson

The trade evaluation is one of the points of the car deal where things can go backward, especially when the customer has negative equity in their car.  How do you handle someone who owes more on their car than it's worth?

Chris K Leslie

It’s a pretty standard conversation since most people owe more than it’s worth. I think it’s becoming more common knowledge for our customers. 

Mark Rask

we deal with this a lot and try to just be straight up about it 

Derrick Woolfson

One of the tactics we take is discussing the warranty; if the vehicle does not have a warranty and/or purchasing an extended warranty would not offer much protection, purchasing a new vehicle can provide them peace of mind knowing they will not have to necessarily shell out as much money for a repair. If the customer is trying to purchase a pre-owned vehicle (and is upside down) we have often had to inquire about their flexibility - seeing if they would purchase a new vehicle as the LTV is not always doable; especially for a customer with less than perfect credit. 

Mark Rask

The warranty is a good point as well 

Suggested Discussions

Ron Henson
by Ron Henson
Last reply by Martins Ville
forum  Start a Discussion

Featured Masters

No members found

New Car Leads Products

95%  Recommended Recom'd 47 Ratings
100%  Recommended Recom'd 25 Ratings
Company: Edmunds
95%  Recommended Recom'd 457 Ratings
Company: CarGurus
100%  Recommended Recom'd 36 Ratings
Company: AutoLoop

 Rate a Vendor Give feedback in three quick steps

Select a Vendor & Product
Can’t find what you're looking for?
Add a Vendor  or  Add a Product
  •  
  •  
  •