Prejudging, pre-qualifying, pre-screening… no matter what you call it, it’s “cherry-picking”

Looking at leads, many dealerships routinely assess the quality of that lead before any contact effort begins. Looking at the application submitted by this lead, many dealerships decide, unilaterally, that the customer cannot buy, yet alone finance a vehicle for any number of reasons. Income appears insufficient, short job time, severe negative equity, whatever the reason, this customer is often either contacted only once, with limited or no result, or just discarded with no contact at all!

When you prejudge or pre-screen an application, you are making a decision for a customer you know little, if anything, about. Many times, the application that you see does not reflect the complete story. There may be mitigating circumstances you cannot know without conducting a complete interview. Additional income, co-signers, or any other number of solutions may present themselves once you open a dialogue with this customer. But, since we are typically creatures driven to the path of least resistance and greatest success, many sales people look for reasons not to call all their leads, focusing on those leads which they perceive, they have the greatest chance of selling.

We measure success in sales by the size of our commission check. I’ll admit, I’m no different than any one else when it comes to my desire to earn a living. When I’m asked how much I want to make in any given year by an employer, my typical response is “So much that your hand shakes when you sign my check”! But in order to achieve that goal, I have realized that it takes a greater effort, looking deeper for those opportunities that my competitors may not want to pursue because they’re “too hard” or “too distant” to produce a quick, easy commission.

In Subprime, this becomes all the more important when looking at, and working, your leads. Pulling credit before the customer comes in can foreclose your efforts with that customer. Making ANY kind of decision without getting the whole story, IN PERSON, leaves you likely limping badly when you realize that you shot yourself in the foot by not working this lead to the max. This is especially true when you finally decide to follow up this lead, only to find out that they have already purchased a vehicle from a competitor. Doesn’t it suck to pay for someone else’s sale?

Every lead is a sale waiting to happen. It’s up to you to discover the story and make it happen. There are lenders out there that are still buying those deeper deals, despite the current economic conditions. You simply have to find the right combination of unit, payment and down payment to get a lender interested. Every customer deserves the opportunity to get a loan through your dealership. It’s up to you to secure an approval; it’s up to your customer to meet the terms and conditions of that approval. Prejudging, pre-qualifying, or pre-screening to determine which ones you are going to pursue and could leave you missing a significant number of additional sales each month. Since your dealership probably has already paid for these leads, why not work ALL of them, with equal interest and intensity, to maximize your commission check each month? “Cherry picking” belongs in orchids, not dealerships!