For a first-time car buyer, looking for the finest ride that comes with a humble price tag could mean countless hours of researching, calling up dealers, and an endless list of pros and cons. Whatever the case might be, the first car is always the most memorable one.
Saving up for something as costly as a car can be tough, especially when one’s finances haven’t been figured out. The first step to saving for a vehicle is to identify which type of car a person needs to get. The next step to take would be checking current car prices to know how much money should one be saving to purchase. With all this in mind, create a budget to strictly follow; save more and spend less. If paying less still doesn’t allow one to have enough savings, find other ways to earn.
Consider getting a loan only when a car is needed shortly. Otherwise, it’s still best for a person to save until the amount can be paid in full. When purchasing through a loan, at least 20 percent of the car’s purchase price should be saved up for the down payment; the higher the amount one is able to pay upfront, the less interest to pay.
Having the right car loan, it’s now time to negotiate the price of the car. Buying a used car from a dealer or a private seller can potentially cut off hundreds or even thousands of dollars off its price. Saving for something that’s worth it can be a challenge, but very rewarding. All the other processes needed to acquire one can be a breeze after the saving part is done.
Jeff Lupient is the CEO and president of Lupient Automotive Group in Minnesota. He is highly skilled in automotive sales, customer relations, and process improvement. Subscribe to this blog for similar reads.
Before the turn of the millennium, when communication means were not as advanced as they are today, salespeople had to learn to create and deliver a convincing sales pitch. But with the advent of the digital age, sales strategies have changed dramatically in response to the shifting market.
While a sales pitch is not yet completely outdated, it is no longer a “pitch” in the traditional sense wherein a salesperson merely throws all the information to a potential client. Rather, it should be a two-way discussion, where there is an intent to determine the customers’ needs and provide a solution to these.
Here are some ways how to pitch effectively:
Understand that a sales pitch should never be the same for every customer, who has precise needs. Research on buyers should then be comprehensive and exhaustive. By learning more about them, it becomes easier to connect with them and capture their attention.
Do not deliver a sales pitch with the sole purpose of selling products and services. A sales pitch or presentation should establish a relationship with prospects. That way, they not only become customers, they can also be sales ambassadors, bringing in referrals for more sales.
Include a “call to action” at the end of a sales pitch. Make sure that customers are apprised with what to do next after the presentation.
Lupient Automotive Group CEO and president Jeff Lupient of MN is highly skilled in automotive sales, customer retention, and process improvement. Read more about his professional background and other industry insights here.
Self-driving cars are slowly moving away from science fiction and entrenching into reality, thanks to the continuous development of network technology, real-time satellite data, and laser guidance systems. While people are excited about the prospect of sitting back and relaxing as the vehicle takes them places, such technology also has its drawbacks, which should be equally disseminated.
Below are some of the pros and cons of autonomous vehicles:
Reduction or elimination of human error: Based on traffic data, nine out of ten vehicular accidents are caused by human error. With machines replacing humans behind the wheel, the likelihood of accidents is significantly reduced, saving the lives of thousands of people and hundreds of billions of dollars of incurred costs.
Efficient transportation: Because accidents are reduced and self-driving cars can communicate with each other, decongestion of traffic is likely.
Lack of human intuition: While vehicles would be operated by AI, the road would still be filled with pedestrians, cyclists, or bikers, who might find themselves in front of an autonomous car. Programmers still have not created a fool-proof code that would compel the AI to choose to save a human life over crashing the vehicle into a wall or guard rail.
Prone to hackers, bugs, and loss of privacy: As with any Internet-connected system, autonomous cars would be vulnerable to cyberattacks and system glitches.
Jeff Lupient has been in the automotive retail business since his mid-teen years. He has gained proficiency in automotive dealership, sales, and business development. Read more about his work by visiting this blog.
A company’s success depends greatly on the performance of employees. Satisfied and valued employees perform better while those that are unhappy with their job tend to fail in delivering good service. Often, employees are told to go the extra mile to say thanks and appreciate the customers, yet they don’t feel appreciated by their employers.
Appreciate to motivate
Cash and other incentives may be great bonuses for a job well done, but saying “thank you” is more important in terms of keeping the team together. People tend to stay where they are appreciated. Employees who stay get to know the company better, get to develop a healthy working relationship with teammates and get to maintain good relationships with customers. To motivate, show appreciation and gratitude. A leader’s attitude greatly affects a team’s performance.
Appreciate to create
Gratitude helps in creation and innovation. When the mind doesn’t get the rest it needs for a long time, it shuts down by preventing new and creative thoughts, even new connections with people. However, these thoughts are needed to create and deliver fresh ideas for the team. Having an attitude of gratitude in the workplace can spark new ideas. Say thanks to help relieve stress. Employees who feel stressed out at work tend to make poor decisions and perform poorly.
Leaders who appreciate their team members give importance to the morale of the company and its employees. Express gratitude to help build a workplace where employees feel appreciated and valued. As a company takes care of its employees, the employees take care of the customers.
Jeff Lupient of MN is the President and CEO of the Lupient Automotive Group in Minnesota. He continues his professional development by completing a course of studies at the National Automotive Dealers Association Dealer Academy. To know more about Jeff and what he does, go to this page.
One can get too excited when buying a car. The giddiness clouds judgment and might distract a buyer from asking the right questions, checking the crucial aspects of automotive performance, and just about anything that could make them arrive at an informed decision. And a shiny, new vehicle is too expensive for anyone not to labor over the weighing of possible options.
The best way to evaluate one’s choices is to do a test drive. This can help a person understand better the particular considerations that go with purchasing a new car. There are varying factors that might need the buyer’s attention when test driving for the experience to truly assist them in the process of picking the right one.
A necessary pre-test drive procedure that a lot of people want to skip is research. One should have reviewed several car specifications and features that match their lifestyle and unique requisites even before the visit to the dealership. Before the drive, cosmetic details must be scrutinized. Make sure to check for dents, scratches, paint evenness, etc. When going through the actual test drive, one can easily decide on a number of basic requirements like the physical comfort and feel of the hand on the wheel, the body on the seat, and the feet on the pedals.
Try to find less-than-ideal routes for the test drive to examine how the car responds to various road surfaces one might encounter during the daily commute. Take note of other significant responses from the car when you hit the brakes, make a turn, or accelerate.
The 21st century brings with it a host of advancements in car technology. The safety systems and smartphone integrations must be checked if one wants to fully avail of the modern driving experience that new models offer. For example, blind spot monitors and Bluetooth connectivity should be studied and tried before sealing the deal.
Jeff Lupient is currently the president and CEO of the Lupient Automotive Group. He is a top-notch manager who participates actively in the operations of his business. Learn more about the business by visiting this site.
Many businesses today still practice the traditional approach of transactional marketing, wherein a focus is made on increasing the amount of customer acquisition and individual sales. But in a world that is fast becoming more connected, emphasizing long-term customer engagement is a far better strategy than merely relying on short-term goals.
The value of relationship marketing then should not be underestimated. It is the creation of strategies that target customer satisfaction and retention, both of which are attained thanks to the following results of relationship marketing:
Decreased likelihood of customers switching to competitors: Customers who are not thoroughly satisfied with a business’s products and services are more likely to shop around. But a more beneficial relationship with the company encourages customers to become less price-sensitive, and instead key in on the value the company offers.
Free word of mouth promotions and referrals: Harvard Business Review introduced the concept of net promoter score in 2003. It describes how customers view the company’s performance and the likelihood of them referring the company to their friends. Strong relationships with clients are important in raising the net promoter score.
Minimized cost of acquisition: Because new customers are being brought in by satisfied clients, the costs of advertisements and marketing campaigns can be significantly reduced.
Jeff Lupient has spent most of his professional career in the automotive dealership industry, where he was able to hone many of his skills, including business development and sales. More articles on these subjects can be read on this blog.
Vehicles now are becoming more connected and software-driven than ever. And with the continuous progress of the Internet of Things (IoT), vehicles are seen to advance beyond having seamless links with smartphones, navigation or tracking, real-time traffic information, and other current technologies.
The following are some of the ways IoT can influence car manufacturers:
It can create additional revenue streams. It is said that by 2020, more than 250 million cars will be connected to the internet. This presents an opportunity for carmakers to open up new areas where they could rake in more revenue. For example, car owners are used to purchasing automotive devices, such as in-car entertainment, dash cams, or diagnostic tools, separately. But car manufacturers instead add such features to new models.
Carmakers might transition into technological companies. Deloitte University Press mentioned in a report on the future of car technology that, “Automakers fear that, should they lose control of the customer to software providers, cars could become commodity devices secondary to the software they run.” And IoT is fueling this trend. Thus, carmakers need to keep up by developing and improving their own technological capabilities, which is what Tesla has already started doing.
The arrival of commercial driverless cars is nearing. The necessary equipment needed for autonomous cars, such as sensors, laser-based radars, onboard computers, communication devices, and others, can be interconnected seamlessly because of IoT.
Jeff Lupient has skills and expertise in automotive retail sales, having worked in the industry since he was only 15 years old. For more insights about the automotive industry, follow this Facebook page.